Executive Cars - United States

United States

Highlights

Revenue in the Executive Cars market is projected to reach US$18bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.48%, resulting in a projected market volume of US$19bn by 2029.
Executive Cars market unit sales are expected to reach 446.7k vehicles in 2029.
The volume weighted average price of Executive Cars market in 2024 is expected to amount to US$44k.
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 United States has been experiencing significant growth in recent years.

Customer preferences: Customers in the United States have shown a strong preference for executive cars due to their luxurious features, advanced technology, and superior performance. These cars are often seen as a status symbol and are favored by individuals who value comfort and prestige. The demand for executive cars has also been driven by the increasing number of high-net-worth individuals in the country who are willing to spend more on luxury vehicles.

Trends in the market: One of the key trends in the Executive Cars market in United States is the growing popularity of electric and hybrid executive cars. As consumers become more environmentally conscious, there has been a shift towards cleaner and more sustainable transportation options. Electric and hybrid executive cars offer lower emissions and higher fuel efficiency, making them attractive to eco-conscious consumers. Additionally, advancements in battery technology have improved the range and performance of electric vehicles, further driving their adoption in the market. Another trend in the market is the integration of advanced technology in executive cars. Features such as autonomous driving, voice recognition, and connectivity have become increasingly common in executive cars. These technological advancements not only enhance the driving experience but also improve safety and convenience for consumers. The integration of technology has become a key selling point for executive car manufacturers, as consumers seek vehicles that are equipped with the latest innovations.

Local special circumstances: The United States has a strong automotive culture and a large market for luxury vehicles. The country is home to several iconic car brands and has a well-established network of dealerships and service centers. This infrastructure supports the growth of the Executive Cars market, as consumers have easy access to a wide range of vehicles and after-sales support. The United States also has a high disposable income, which allows consumers to afford luxury vehicles and fuels the demand for executive cars.

Underlying macroeconomic factors: The growth of the Executive Cars market in United States can be attributed to several underlying macroeconomic factors. The country has experienced a strong and stable economy, which has increased consumer confidence and spending power. Low interest rates and favorable financing options have also made it easier for consumers to purchase executive cars. Additionally, the United States has a well-developed transportation infrastructure, including a vast network of highways and roads, which makes owning and driving executive cars more convenient. In conclusion, the Executive Cars market in United States is growing due to customer preferences for luxurious vehicles, the adoption of advanced technology, and the presence of a strong automotive culture. The increasing popularity of electric and hybrid executive cars, as well as the integration of advanced technology, are driving the market forward. The local special circumstances, such as the well-established automotive industry and high disposable income, further support the growth of the market. Overall, the Executive Cars market in United States is expected to continue its upward trajectory in the coming years.

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).