Try our corporate solution for free!
(212) 419-8286
hadley.ward@statista.com

Premium vehicles - luxury car market size worldwide 2010-2020

In 2020, the global market for luxury cars was estimated at around 503 billion euros, an estimated contraction of more than eight percent year-on-year. The global luxury market was put at around one billion U.S. dollars in 2020.

Global luxury car market size

The luxury car segment is one of the most dynamic sources of revenue growth in the global luxury goods market. This segment is primarily driven by rising demand from increasingly affluent buyers in emerging markets. In 2020, the luxury car market contracted amid the outbreak of the coronavirus pandemic in key markets worldwide. There is hope that coronavirus vaccines will help lift the market rebound.

Electrification of luxury cars

In an attempt to appeal to the more environmentally conscious group of buyers, a fair share of the luxury car fleet is projected to become more ‘eco-friendly’. Luxury electric vehicles such as the battery-powered models offered by Tesla are set to drive growth in the luxury car segment. At the same time, luxury SUVs are also expected to attract a new group of customers. High-end automobiles are expected to combine connectivity and ergonomics. However, smart vehicles require improved infrastructure, particularly in urban areas. As a result, there is a growing number of cities providing the infrastructure that is needed for the implementation of connected car programs.

Global luxury car market size from 2010 to 2020

Exclusive Premium statistic

You need a Single Account for unlimited access.

  • Full access to 1m statistics

  • Incl. source references

  • Available to download in PNG, PDF, XLS format

Single Account

$39 $59 per month *
in the first 12 months
33% discount until May 31st
*Duration: 12 months, billed annually, single license

Access to this and all other statistics on 80,000 topics from

$468 / Year
$708 / Year

Show detailed source information?
Register for free
Already a member?
Log in
Source

Release date

November 2020

Region

Worldwide

Survey time period

2010 to 2020

Supplementary notes

The 2020 figure is an estimate; the figures for 2010 to 2019 were taken from previous publications.
The source does not define the term 'luxury car'.

Statista Accounts: Access All Statistics. Starting from $468 / Year
Basic Account
Get to know the platform

You only have access to basic statistics.
This statistic is not included in your account.

Single Account
The ideal entry-level account for individual users
  • Instant access to 1m statistics
  • Download in XLS, PDF & PNG format
  • Detailed references
$59 $39 / Month *
in the first 12 months
Corporate Account
Full access

Corporate solution including all features.

* Prices do not include sales tax.

Statistics on "Luxury cars in the United States"

Statista Accounts: Access All Statistics. Starting from $468 / Year
Learn more about how Statista can support your business.