Luxury Cars - US - October 2014
“Luxury car sales have been strong, but seasoned marketers know that any brand is only as good as its next sale. Marketers have an opportunity to sustain the next generation of luxury buyers with impressive ongoing service, next-gen technology, and the possibility of a more comfortable car buying process.”– Ali Lipson, Category Manager – Retail & Apparel, Technology, Automotive
This report looks at the following questions:
- What is next for entry-level luxury buyers?
- What “next-gen” technology resonates with luxury car buyers?
- Should luxury dealerships embrace a “no-pressure” environment?
The luxury car market is more than a niche segment of the auto industry: 2014 sales are expected to top 2.5 million units and account for 15.5% of all vehicles sold. Luxury vehicle sales are growing faster than the overall market and this segment represents significant growth opportunities. Luxury buyers are particular in their tastes and opinions. They desire specific features and want a car buying experience that is catered to these needs.
Readers of this report will gain an in-depth understanding of the luxury vehicle market and the consumers it serves. Topics include:
- Sales, market share, and marketing activity of the leading automakers.
- The luxury car consumer: who expects to purchase a new car and when. What types of features and services is the luxury car intender looking for when making a purchasing decision?
- How are consumers reacting to the newest technology, entertainment, and safety features? What brands are innovating in these categories and how are they doing it?
For the purposes of this report, Mintel has used the following definitions:
- This report covers the sale of new domestic and imported luxury vehicles, and consumer attitudes and activity around luxury vehicles. Vehicle segments represent those involving both traditional luxury vehicle makers and nontraditional luxury vehicle makers.
- Sales figures throughout this report apply to new (not used) luxury cars, and are unit volume figures as reported by the manufacturers.
What you get
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
* This is a sample representation of the report layout and does not reflect the research included in this report.
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