Executive Cars - Switzerland

Switzerland

Highlights

Revenue in the Executive Cars market is projected to reach US$247m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -1.78%, resulting in a projected market volume of US$226m by 2029.
Executive Cars market unit sales are expected to reach 3.8k vehicles in 2029.
The volume weighted average price of Executive Cars market in 2024 is expected to amount to US$59k.
From an international perspective it is shown that the most revenue will be generated China (US$63bn in 2024).

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Executive Cars market in Switzerland has been experiencing steady growth in recent years, driven by customer preferences for luxury, performance, and advanced technology in their vehicles. Switzerland, known for its high standard of living and affluent population, has created a strong demand for executive cars in the country.

Customer preferences: Swiss customers have a strong preference for luxury and high-performance vehicles, which has fueled the growth of the Executive Cars market. They value comfort, safety, and advanced technology features in their vehicles. The demand for executive cars is also driven by the desire to make a statement and showcase their success and status.

Trends in the market: One of the key trends in the Executive Cars market in Switzerland is the increasing demand for electric and hybrid vehicles. Swiss customers are environmentally conscious and are willing to invest in sustainable transportation options. As a result, luxury car manufacturers have been introducing electric and hybrid models to cater to this growing demand. Another trend in the market is the integration of advanced technology features in executive cars. Swiss customers expect their vehicles to be equipped with the latest connectivity, entertainment, and safety features. This includes features such as touchscreen infotainment systems, smartphone integration, advanced driver-assistance systems, and autonomous driving capabilities.

Local special circumstances: Switzerland's strict emission standards and high taxes on fuel and carbon emissions have contributed to the demand for electric and hybrid vehicles in the Executive Cars market. The government has also provided incentives and subsidies to encourage the adoption of electric vehicles, further driving the market growth in this segment. Additionally, Switzerland's well-developed infrastructure and road network make it an ideal market for executive cars. The country's excellent road conditions and scenic landscapes make driving a pleasurable experience, leading to a higher demand for luxury vehicles.

Underlying macroeconomic factors: Switzerland's strong economy and high per capita income levels have played a significant role in the growth of the Executive Cars market. The country's stable economy, low unemployment rate, and high standard of living have created a favorable environment for luxury car sales. Furthermore, Switzerland's favorable tax system, which includes lower taxes on luxury goods and high-end vehicles, has attracted affluent individuals and expatriates to the country. This has contributed to the demand for executive cars as these individuals seek to maintain their luxurious lifestyle. In conclusion, the Executive Cars market in Switzerland is driven by customer preferences for luxury, performance, and advanced technology. The increasing demand for electric and hybrid vehicles, as well as the integration of advanced technology features, are key trends in the market. Switzerland's strict emission standards, well-developed infrastructure, strong economy, and favorable tax system are the underlying macroeconomic factors contributing to the growth of the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).