The Luxury Cars Market segment includes passenger cars of an average footprint around 5m2 (54 ft2), an average mass around 2200kg (4850lbs) and a passenger/cargo volume larger than 3.4 m3 (120 ft3). Models in this market are characterized by their high price. There are numerous companies that produce exclusively for this market. All key figures shown represent the sales of new luxury cars in the basic configuration in the respective year. Used vehicles are not taken into account, nor is adapted equipment for the new cars sold. The prices and revenues shown as well as the distribution of connectivity, drive types, autonomy levels, and average CO2 emissions are accordingly based on the basic models.
Example models: Audi A8, BMW 7 Series, Jaguar XJ, Mercedes-Benz S-Class, Porsche Panamera.
Most recent update: Oct 2024
Source: Statista Market Insights
Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.
Most recent update: Mar 2024
The Luxury Cars market in Argentina has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Luxury Cars market in Argentina have been shifting towards more luxurious and high-end vehicles.
Consumers are increasingly seeking vehicles that offer not only high performance and advanced technology, but also luxury features and a prestigious brand image. This trend can be attributed to the growing affluence of the middle class in Argentina, as well as the desire for status and social recognition among consumers. Additionally, there is a growing emphasis on sustainability and environmental consciousness, with an increasing demand for luxury electric and hybrid vehicles.
Trends in the Luxury Cars market in Argentina reflect global and regional market developments. One of the key trends is the rise of SUVs and crossovers in the luxury segment. These vehicles offer a combination of luxury, practicality, and versatility, making them popular among consumers in Argentina.
Another trend is the integration of advanced technology and connectivity features in luxury vehicles. This includes features such as touchscreens, voice recognition, and smartphone integration, which enhance the overall driving experience and convenience for consumers. Local special circumstances also play a role in the development of the Luxury Cars market in Argentina.
The country's import restrictions and high taxes on luxury vehicles have led to an increase in local production and assembly of luxury cars. This has attracted foreign automakers to establish manufacturing plants in Argentina, contributing to the growth of the luxury car market. Additionally, the availability of financing options and flexible payment plans has made luxury cars more affordable and accessible to a wider range of consumers.
Underlying macroeconomic factors have also influenced the development of the Luxury Cars market in Argentina. Economic stability and growth have contributed to the increasing purchasing power of consumers, allowing them to afford luxury vehicles. Additionally, favorable interest rates and government incentives for the automotive industry have stimulated demand for luxury cars.
However, fluctuations in the exchange rate and inflation can impact the affordability and pricing of luxury vehicles, affecting consumer demand. In conclusion, the Luxury Cars market in Argentina is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. With a focus on luxury, performance, and advanced technology, the market is expected to continue expanding in the coming years.
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
Notes: Level 0: No automation and very limited driver assistance in the form of automatic emergency braking or blind-spot warning. Level 1: Driver assistance such as cruise control or lane centering. Level 2: Partial automation, including brake and steering support. Level 3: Conditional automation in which the vehicle can perform most driving tasks. In certain scenarios, human intervention is still needed.
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
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).