United Kingdom Luxury Car Market By Vehicle Type (Hatchback, Sedan, SUV/MPV), By Propulsion (ICE, Electric), By Level of Autonomy (Level 1, Level 2, Level 3, Level4/5), By Region, Competition Forecast & Opportunities, 2027

United Kingdom luxury car market is anticipated to register growth with an impressive CAGR in the forecast period, 2023-2027. The market growth can be attributed to growing demands for the premium car ownerships. Rising disposable income among the population is a major factor driving the growth of the United Kingdom luxury car market in the upcoming five years. Growing demands for the drive in style, and a way of wealth demonstration, the population is highly inclined toward owning luxury cars and thus supports the growth of the United Kingdom luxury car market in the next five years. Although COVID-19 had severe impact on the manufacturing sector and distribution of the luxury cars thereby affecting the market growth, but the reinstatement of the industries and growing expenses from the consumers, facilitate the growth of the United Kingdom luxury car market in the future five years.

Growing Demands For Electric Vehicle Drives Market Growth

Rising demand for the electric vehicles is one of the important factors, driving the growth of the United Kingdom luxury car market in the upcoming five years. With advanced technologies, premium services, and exquisite make model of the vehicles, the electric cars are considered among luxury cars. Moreover, growing demands for the electric type of SUVs, and MPVs, also add to the growth of the United Kingdom luxury car market in the next five years.

In the year 2021, although the automotive industry suffered due to COVID, sales scale of the electric cars recorded over 76% increase as compared to previous year. Including sedans, hatchbacks and SUVs there are over 450,000 electric cars currently adorning the roads in the United Kingdom. Also, the demand for the electric vehicle is also increasing due to consumers’ awareness toward environment. High end technologies, auto parts in network connections with the internet and premium quality of the looks of the cars further facilitate the growth of the United Kingdom luxury car market in the future five years.

Rising Disposable Income Drives Higher Sales

Economic stability in the country is high. The population is earning considerable income that allows them to spend lavishly over assets like luxury cars. Moreover, the financial companies providing car loans to make luxury cars more affordable, also play an important role in the growth of the United Kingdom luxury car market in the upcoming five years. The consumers are highly interested in borrowing money to own luxury cars from brands like McLarens, Ferraris, Aston Martins, and Porsches lately.

Luxury super cars like Rolls Royce Cullinan, sports cars, convertible are also gaining rapid popularity that is expected to support the growth of the market. Records mention, that within last year, 2021, British population have shelled out over USD250 billion over luxury cars. Restraining due to COVID and disrupted distribution channels might have created a slowed supply, but indeed the sales have heightened in the previous years, and with relaxations in the regulations, the market is anticipated to boom in the forecast years through 2027.

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Market Segmentation

The United Kingdom luxury car market is segmented by vehicle type, propulsion, level of autonomy, competitional landscape, and regional distribution. Based on vehicle type, the market is fragmented into hatchback, sedan, and SUV/MPV. By propulsion, the market is differentiated between ICE and electric. Based on level of autonomy, the market is bifurcated into level 1, level 2, level 3, and level 4/5. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among London, East Anglia, Southwest, Southeast, Scotland, East Midlands, and Yorkshire & Humberside.

Company Profile

Daimler AG (Mercedes-Benz), Bayerische Motoren Werke (BMW) AG, Volvo Group, Volkswagen Group, Jaguar Land Rover Automotive PLC, Fiat Chrysler Automobiles, Aston Martin Lagonda Global Holdings PLC, Toyota Motor Corporation (Lexus), Stellantis N.V., Ferrari S.p.A., among others is a partial list of major market players of the companies responsible for the growth of United Kingdom luxury car market.

Report Scope:

In this report, United Kingdom luxury car market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• United Kingdom Luxury Car Market, By Vehicle Type:
• Hatchback
• Sedan
• SUV/MPV
• United Kingdom Luxury Car Market, By Propulsion:
• ICE
• Electric
• United Kingdom Luxury Car Market, By Level of Autonomy:
• Level 1
• Level 2
• Level 3
• Level4/5
• United Kingdom Luxury Car Market, By Region:

o   London

o   East Anglia

o   Southwest

o   Southeast

o   Scotland

o   East Midlands

o   Yorkshire & Humberside

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in United Kingdom luxury car market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

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