What is the current Asia Pacific Luxury Cars Market size?

The Asia Pacific Luxury Cars Market is projected to register a CAGR of greater than 6.40% during the forecast period (2024-2029) Read More

Who are the key players in Asia Pacific Luxury Cars Market?

Mercedes Benz, Bayerische Motoren Werke AG (BMW), Volvo Group, Jaguar Land Rover and Audi AG are the major companies operating in the Asia Pacific Luxury Cars Market. Read More

What years does this Asia Pacific Luxury Cars Market cover?

The report covers the Asia Pacific Luxury Cars Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia Pacific Luxury Cars Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Asia-Pacific Luxury Car Market - Share, Size & Analysis

Asia-Pacific Luxury Car Industry Overview

The Asia-Pacific luxury car market is highly concentrated and majorly dominated by few players, like Volkswagen AG, Daimler AG, Geely, Toyota Motors, BMW AG, Volvo Group, and Jaguar.

The market is highly driven by factors like advanced technology, more comfort, growing investment in R7D projects, and increasing living standard of people around the region. To provide more luxurious experience to people, major luxury car manufacturers are making joint ventures with technology providers. For instance, In February 2019, Daimler AG and BMW AG have agreed to cooperate on developing self-driving cars. Both the manufacturer has signed a memorandum of understanding (MoU) to jointly develop the next generation of autonomous-driving technology, which should be market-ready by the middle of the next decade.

Mercedes Benz, which is a top manufacturer of luxury cars, brings in a range of new technologies in order to increase its footprint in India. The company will upgrade internal combustion engines to battery-powered electric vehicles and plug-in hybrids.