At 2.55 million vehicle deliveries, BMW was the leading luxury car brand worldwide. Meanwhile, Volkswagen delivered around 1.9 million vehicles under its Audi brand in 2023.
Global luxury car market
The global luxury car market is one of the most valuable luxury markets within the luxury goods industry. The global market size for luxury cars is expected to have grown from 245 billion euros in 2010 to 635 billion euros in 2023. Much of the growth is attributed to the increasing consuming power of emerging markets such as China. That said, mature markets such as the United States remain important target countries. In 2023, the U.S. luxury car market recorded nearly 6.8 billion U.S. dollars in revenue, making it the largest market worldwide.
Luxury car market in the United States
BMW was second in the ranking for the luxury car market in the U.S. in 2020, with luxury car sales of some 332,400 units. Mercedes-Benz, Lexus, and Audi are the runner-ups. The three German luxury car brands - Stuttgart-based Mercedes-Benz, Munich-based BMW, and Ingolstadt-based Audi - are among the leading brands in the U.S. luxury car market. They are also the top three luxury brands globally.
Best-selling luxury car brands: global sales in FY 2023
(in million units)
The value for Mercedes-Benz was taken from an annual fact sheet on mercedes-benz.com, released on February 22, 2024. The value for Audi was taken from Volkswagen's annual report (page 30), released on February 13, 2024. The value for Tesla was taken from Tesla's Q4 press release, published on January 2, 2024.
The values for BMW, Tesla, and Audi are vehicle deliveries.
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Statista. (March 21, 2023). Best-selling luxury car brands: global sales in FY 2023 (in million units) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/262921/global-production-of-luxury-cars-by-make/
Statista. "Best-selling luxury car brands: global sales in FY 2023 (in million units)." Chart. March 21, 2023. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/262921/global-production-of-luxury-cars-by-make/
Statista. (2023). Best-selling luxury car brands: global sales in FY 2023 (in million units). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/262921/global-production-of-luxury-cars-by-make/
Statista. "Best-selling Luxury Car Brands: Global Sales in Fy 2023 (in Million Units)." Statista, Statista Inc., 21 Mar 2023, https://www.statista.com/statistics/262921/global-production-of-luxury-cars-by-make/
Statista, Best-selling luxury car brands: global sales in FY 2023 (in million units) Statista, https://www.statista.com/statistics/262921/global-production-of-luxury-cars-by-make/ (last visited November 21, 2024)
Best-selling luxury car brands: global sales in FY 2023 (in million units) [Graph], Statista, March 21, 2023. [Online]. Available: https://www.statista.com/statistics/262921/global-production-of-luxury-cars-by-make/
