BMW remained the leading luxury car brand in the United States in 2020. BMW sold about ******* cars in the United States in 2020 and reached a luxury car market share of about **** percent. U.S. luxury car market share in 2020, by key marque There is something majestic about luxury vehicles. From the glass panel roofs and the LED headlights to the leather-trimmed seats and powerful engines, these automobiles are built with the finest of materials, giving each driver the feeling of uniqueness. Regarding the overall luxury car market, the leading premium car brands include BMW, Lexus, and Mercedes-Benz. The source excludes Tesla because the company does not provide model sales by country. Tesla is among the leading car brands in the United States with deliveries of more than ******* units in 2020, including some ****** Model S cars, one of the leading electric vehicle models based on sales in the United States. In 2020, the global market for luxury cars was sized at almost *** billion euros. Market segmentation Oftentimes, the luxury car market is broken down into the following segments: premium compact vehicles, mid-size luxury cars, high-end luxury cars, ultra-luxury cars, as well as luxury SUVs and crossover models. The boundaries between these categories are blurred and vary between regions. However, the price is largely defined as the major criterion for classifying luxury vehicles.

This statistic represents the share of new luxury and sporty car models launched by selected manufacturers on the automobile market in the United States between the model year of 2020 and the model year of 2023. During this time period, it is expected that about * percent of GM's new models will be luxury car models.

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Luxury Cars Market Size 2025-2029

The luxury cars market size is valued to increase USD 232 billion, at a CAGR of 6.8% from 2024 to 2029. Rising demand for luxury SUVs will drive the luxury cars market.

Major Market Trends & Insights

North America dominated the market and accounted for a 39% growth during the forecast period.
By Product - Executive luxury car segment was valued at USD 442.00 billion in 2023
By Propulsion - IC engine-based vehicles segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 63.41 billion
Market Future Opportunities: USD 232.00 billion
CAGR from 2024 to 2029 : 6.8%

Market Summary

In The market, a significant trend emerging is the increasing preference for SUVs, with sales demonstrating a steady upward trajectory. According to the latest market intelligence, the luxury SUV segment accounted for over 30% of the overall market share in 2020. This shift can be attributed to the growing demand for vehicles that offer a blend of comfort, performance, and practicality. Another notable development is the entrance of electric luxury car models, which are gaining traction due to their eco-friendly appeal and advanced technology. The market's evolution is further influenced by various factors, including increasing disposable income, changing consumer preferences, and stringent emission regulations. Despite these positive indicators, the market faces challenges such as rising production costs and taxes on high-end vehicles, which can impact profitability. Nevertheless, market players continue to innovate and invest in research and development to cater to evolving consumer needs and expectations. In conclusion, the market is witnessing a dynamic transformation, driven by factors such as the growing popularity of SUVs and the adoption of electric vehicles. These trends, coupled with ongoing challenges, create an intriguing landscape for market participants to navigate and thrive in.

What will be the Size of the Luxury Cars Market during the forecast period?

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How is the Luxury Cars Market Segmented ?

The luxury cars industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. ProductExecutive luxury carSuper luxury carPropulsionIC engine-based vehiclesElectric vehiclesVehicle TypeHatchbacksSedansSports Utility Vehicles (SUVs)Multi-purpose Vehicles (MPVs)OthersHatchbacksSedansSports Utility Vehicles (SUVs)Multi-purpose Vehicles (MPVs)OthersGeographyNorth AmericaUSEuropeFranceGermanyItalySwitzerlandUKAPACChinaIndiaJapanSouth KoreaRest of World (ROW)

By Product Insights

The executive luxury car segment is estimated to witness significant growth during the forecast period.

The market continues to evolve, with a focus on advanced technologies and innovative design. Three German manufacturers, Audi, BMW, and Mercedes-Benz, dominate the executive luxury car segment, accounting for four out of five global sales. These companies invest heavily in manufacturing automation systems, drivetrain engineering, and chassis engineering, utilizing lightweight materials and high-performance braking systems for improved vehicle dynamics. Powertrain electrification and electric vehicle technology are key areas of investment, with many manufacturers offering hybrid powertrains and fuel efficiency optimization. Exhaust emission control and passive safety systems are also prioritized, ensuring vehicles meet stringent regulations. Ergonomic design principles and infotainment systems integration enhance the driving experience, while automotive cybersecurity measures and vehicle connectivity technology provide added peace of mind. Aerodynamic optimization techniques and suspension system design contribute to vehicle performance metrics optimization. Rolls-Royce, a BMW brand, represents the pinnacle of super luxury cars. The market is a dynamic and competitive landscape, with ongoing activities in tire performance characteristics, transmission technology, engine performance tuning, and predictive maintenance systems.

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The Executive luxury car segment was valued at USD 442.00 billion in 2019 and showed a gradual increase during the forecast period.

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Regional Analysis

North America is estimated to contribute 39% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in Europe is experiencing significant growth, w

Global Luxury Car market was valued at USD 502.46 Billion in 2024 and is expected to reach USD 703.91 Billion by 2030 with a CAGR of 5.78%.

The European Luxury Car Market Report is Segmented by Vehicle Type (Hatchback, Sedan, and More), Powertrain Type (ICE, and More), Price Range (USD 45, 000-100, 000, USD 100, 001-200, 000, and Above USD 200, 000), Ownership Model (Outright Purchase, Finance/Lease, and More), and Country. The Market Forecasts are Provided in Terms of Value (USD) and Volume (Units).

This statistic portrays year-on-year growth in U.S. luxury car sales in 2020, with a breakdown by category. Small luxury SUV (sport utility vehicle) sales increased by around **** percent in 2020, compared with 2019.

In 2024, the global market for luxury cars was estimated at around *** billion euros, an estimated increase of around *** percent year-on-year. That same year, the global luxury market was put at around **** trillion euros. Global luxury car market size The luxury car segment is one of the most dynamic sources of revenue growth in the global luxury goods market. This segment is primarily driven by rising demand from increasingly affluent buyers in emerging markets. In 2020, the luxury car market contracted amid the outbreak of the coronavirus pandemic in key markets worldwide. The market effectively rebounded in 2021, despite grappling with the global chip shortage. Three years later, in 2024, the United States was the leading luxury automobile market worldwide, amounting to revenues of around * billion U.S. dollars. Electrification of luxury cars In an attempt to appeal to the more environmentally conscious group of buyers, a fair share of the luxury car fleet is projected to become more ‘eco-friendly’. Luxury electric vehicles such as the battery-powered models offered by Tesla are set to drive growth in the luxury car segment. At the same time, luxury SUVs are also expected to attract a new group of customers. High-end automobiles are expected to combine connectivity and ergonomics. However, smart vehicles require improved infrastructure, particularly in urban areas. As a result, there is a growing number of cities providing the infrastructure that is needed for the implementation of connected car programs.

United Kingdom Luxury Car market was valued at USD 97.19 billion in 2024 and is anticipated to grow USD 142.86 billion by 2030 with a CAGR of 6.68%.

Global Luxury Cars Market is segmented by Application (Automotive_Commercial Fleets_Leasing_Tourism_Collectors), Type (Sedans_SUVs_Sports Cars_Convertibles_Luxury Electric Cars), and Geography (North America_ LATAM_ West Europe_Central & Eastern Europe_ Northern Europe_ Southern Europe_ East Asia_ Southeast Asia_ South Asia_ Central Asia_ Oceania_ MEA)

At *** million vehicle deliveries, BMW was the leading luxury car brand worldwide. Meanwhile, Volkswagen delivered around *** million vehicles under its Audi brand in 2024. 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 *** billion euros in 2010 to *** billion euros in 2024. 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 2024, the U.S. luxury car market recorded around ***** 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 ******* 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 in the top four luxury brands globally.

Over 22,000 Cadillac Escalades were sold in the United States in 2020, making it the best-selling model of large luxury cars in the U.S. that year. Luxury cars are typically characterized by the importance placed on passenger comfort and quality of equipment. Here, “large” means car types that are in the category of, or larger than, a full-sized sedan (saloon car in the UK). The only fully-electric model on the list is the Tesla Model S, which saw 2020 figures drop by 15.3 percent compared to 2019 sales. The state of the U.S. market Since 2016, the American automotive industry has been struggling to sell passenger cars. The COVID-19 pandemic impacted all segments of the industry, including light truck sales, which had been rising continuously in the United States until 2019, dipping from 12.2 million units to 11 million units in 2020. Meeting consumer preference Consumer choice is the ultimate deciding factor influencing vehicle sales. In the United States, drivers are becoming interested in two opposite vehicle types which are growing in sales figures. On the one hand, Americans who tend to buy larger SUVs are now looking towards even bigger cars with 6-8 seats; on the other hand, there is an explosion of interest in plug-in electric vehicles, which in recent years have grown in sales.

Emea Luxury Automotive Market is segmented by Application (Personal Transportation_Corporate Executive Cars_Premium Chauffeur Services_Event Transportation_High-Performance Driving), Type (Luxury Sedans_SUVs_Sports Cars_Electric Luxury Vehicles_Limousines), and Geography ()

Snapshot img { margin: 10px !important; } The luxury car coachbuilding market size has the potential to grow by USD 5.01 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. This report provides a detailed analysis of the market by Europe, North America, and ROW. Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Carlsson Fahrzeugtechnik GmbH, Carrosserie Akkermans, Carrozzeria Touring Superleggera Srl, Fioravanti Srl, Italdesign Giugiaro Spa, Mitsuoka Motor Co. Ltd., Moal Inc., Motorima, N2A by Langmesser, and Trasco Bremen GmbH.

What will be the Luxury Car Coachbuilding Market Size in 2020?

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Who are the Major Luxury Car Coachbuilding Vendors?

The market is concentrated. Carlsson Fahrzeugtechnik GmbH, Carrosserie Akkermans, Carrozzeria Touring Superleggera Srl, Fioravanti Srl, Italdesign Giugiaro Spa, Mitsuoka Motor Co. Ltd., Moal Inc., Motorima, N2A by Langmesser, and Trasco Bremen GmbH are some of the major market participants. Factors such as increasing demand for custom, hand-built limited-edition luxury vehicles and classic cars, established coachbuilders eyeing new luxury car makers as potential customers, and increase in demand for luxury SUVs in the US will offer immense growth opportunities. However, shrinking profitability in coachbuilding, carmakers opting for in-house production of niche vehicles instead of depending on coachbuilders, and stringent laws and regulations associated with coach-built design may impede market growth. To make the most of the opportunities, vendors should focus on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this luxury car coachbuilding market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this luxury car coachbuilding market analysis report provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

Carlsson Fahrzeugtechnik GmbH
Carrosserie Akkermans
Carrozzeria Touring Superleggera Srl
Fioravanti Srl
Italdesign Giugiaro Spa
Mitsuoka Motor Co. Ltd.
Moal Inc.
Motorima
N2A by Langmesser
Trasco Bremen GmbH

Which are the Key Markets for Luxury Car Coachbuilding?

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The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. Europe will offer several growth opportunities to market vendors during the forecast period. The rapid development of electrified luxury vehicles, platform simplification, by-wire technology, and 3d printing in automotive manufacturing, and the development of virtual crash testing and computer-aided design will significantly influence luxury car coachbuilding market growth in this region.

58% of the market’s growth will originate from Europe during the forecast period. Germany, the UK, Italy, and France are the key markets for luxury car coachbuilding in Europe. This report provides an accurate prediction of the contribution of all segments to the growth of the luxury car coachbuilding market size.

What are the Key Factors Covered in this Luxury Car Coachbuilding Market Report?

CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will drive luxury car coachbuilding market growth during the next five years
Precise estimation of the luxury car coachbuilding market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the luxury car coachbuilding industry across Europe, North America, and ROW
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of luxury car coachbuilding market vendors

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In 2023, the sales volume of luxury cars in India increased to ****** units, an all-time high, surpassing the pre-pandemic peak in 2018. The decline between 2019 and 2020 was partially due to the economic impact of the coronavirus pandemic and new emission norms. German brands such as Mercedes-Benz, Audi, and BMW were the top three players in this segment. What drives India's demand for luxury cars? The share of luxury vehicle sales in total passenger vehicle sales across India was less than one percent in 2021. However, by 2024, demand for luxury cars significantly increased. Several factors contributed to this, including changing consumer preferences, increased wealth, and improved infrastructure. As disposable incomes rose and the number of high-net-worth individuals increased, more consumers began to invest in luxury cars. This trend also reflected a changing mindset, as owning a luxury vehicle increasingly came to be seen as a symbol of social prestige. German brands race ahead In 2024, Mercedes-Benz held the largest market share in the luxury car segment. The company launched its first 'Made in India' vehicle and introduced the country's first luxury electric car. It also had the highest sales volume among the luxury car brands, followed by BMW. Total luxury car sales in India exceeded 45 thousand units that year.

The global luxury electric vehicle market size was valued at USD 12.23 billion in 2020 and is projected to grow from USD 15.11 billion in 2021 to USD 79.72 billion by 2028, at a CAGR of 31.7% from 2021 to 2028. The market is driven by rising demand for environmentally friendly vehicles, increasing awareness about climate change, and supportive government policies. Moreover, growing disposable income and changing consumer preferences towards luxury vehicles are further propelling the market growth. Asia Pacific is expected to hold the largest market share over the forecast period, owing to the increasing demand for luxury electric vehicles in China, Japan, and South Korea. Moreover, supportive government initiatives and the presence of leading automakers in the region are contributing to the market growth. Europe is anticipated to be the second-largest market for luxury electric vehicles, driven by stringent emission regulations, rising consumer awareness, and the availability of a wide range of luxury electric vehicle models. North America is also a significant market for luxury electric vehicles, owing to the increasing adoption of electric vehicles and the presence of well-established automakers in the region. Executive Summary The global luxury electric vehicle market is poised for significant growth with increasing demand for sustainable and high-performance vehicles. This report provides a comprehensive analysis of the industry, including market size, trends, drivers, challenges, and key players.

Amongst luxury passenger cars, SUVs had the highest share of sales in the United Arab Emirates (UAE) in 2021 at more than ** percent. Luxury passenger cars held almost ** percent of passenger car sales in the UAE in that year.

In 2024, ************ percent of the passenger cars sold in China were from domestic Chinese brands. In recent years, the market share of foregin automotive manufacturers dropped significantly amid the increasing popularity of Chinese car brands, especially in the sector of new energy vehicles.

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The automotive heads-up display market share is expected to increase by USD 1.98 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 20.56%.

This automotive heads-up display market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive heads-up display market segmentation by type (windshield-projected HUDs and combiner-projected HUDs), vehicle type (luxury cars and mid-segment cars), and geography (Europe, APAC, North America, MEA, and South America). The automotive heads-up display market report also offers information on several market vendors, including 3M Co., Continental AG, DENSO Corp., HUDWAY LLC, Nippon Seiki Co. Ltd., Panasonic Corp., Texas Instruments Inc., Valeo SA, Visteon Corp., and Yazaki Corp. among others.

What will the Automotive Heads-up Display Market Size be During the Forecast Period?

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Automotive Heads-up Display Market: Key Drivers, Trends, and Challenges

The declining average selling price of huds is notably driving the automotive heads-up display market growth, although factors such as the high cost of huds may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive heads-up display industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Heads-up Display Market Driver

The declining average selling price of HUDs is a major factor driving the global automotive heads-up display market share growth. HUDs were initially adopted in selected luxury cars such as BMW and Mercedes-Benz. However, with advances in technology, HUDs are now being equipped in mid-size cars as well. The high growth potential of the global HUD market is encouraging vendors such as Garmin and Navdy to enter the aftermarket for HUDs. For instance, in 2013, Garmin introduced aftermarket HUDs showing navigation information on windshields in cars for $130. Generally, HUDs cost approximately $1,000 for automotive OEMs. This has increased the price pressure on HUD manufacturers that supply HUDs to automotive OEMs, leading to a decline in the average selling price of HUDs. However, the decline in the average selling price is expected to be low as the aftermarket for HUDs is quite small. In addition, the emergence of new technologies such as gesture recognition, voice recognition, 3D graphics, and AR is expected to increase the adoption of HUDs in cars, relieving the price pressure faced by HUD manufacturers. Due to such reasons, the market will grow during the forecast period.

Key Automotive Heads-up Display Market Trend

The introduction of new luxury vehicle segments by manufacturers is another factor supporting the global automotive heads-up display market share growth. The increasing demand for luxury vehicles is driving the global luxury vehicle market. The sales of existing luxury vehicle models and new luxury vehicle models in the existing segment, including sedans and SUVs, have grown. The rise in competition among luxury vehicle manufacturers to gain a competitive edge is pushing them to undertake various initiatives, such as the expansion of product portfolios with new vehicle segments. Volkswagen AG's subsidiary Automobili Lamborghini S.p.A. expanded its product portfolio with a new segment (SUV segment) and launched a luxury SUV, Lamborghini Urus, in 2018. Ferrari S.p.A., a spin-off from Fiat Chrysler Automobiles, announced that it would launch the SUV Purosange by 2022. German luxury car manufacturer BMW AG launched BMW 6 Series Gran Turismo in India in 2018, which is an SUV combined with the styling and comfort of a sedan. Such luxury vehicle launches in a new segment by luxury vehicle manufacturers would positively impact the global luxury vehicle market.

Key Automotive Heads-up Display Market Challenge

The high cost of HUDs will be a major challenge for the global automotive heads-up display market share growth during the forecast period. HUDs are still in the development stage and are yet to be widely accepted. The market for HUDs is mostly restricted to luxury cars. Also, the high cost of production has resulted in a fewer number of manufacturers entering the HUD market. This has led to the high ASP of HUDs in the automotive sector, which is a critical factor as this cost is passed onto end consumers. Automotive OEMs operate at a low-profit margin and are constantly making efforts to reduce their costs. Owing to their high cost, HUDs are initially embraced only in premium and luxury cars. Manufacturers are trying to bri

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The automotive air suspension market share is expected to increase by USD 1.85 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5.6%.

This automotive air suspension market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive air suspension market segmentation by application (commercial vehicle and passenger vehicle) and geography (Europe, North America, APAC, South America, and MEA). The automotive air suspension market report also offers information on several market vendors, including Continental AG, Dunlop Systems and Components, EnPro Industries Inc., Hendrickson Holdings LLC, Hitachi Ltd., Knorr Bremse AG, Marelli Holdings Co. Ltd., thyssenkrupp AG, VDL Groep BV, and ZF Friedrichshafen AG among others.

What will the Automotive Air Suspension Market Size be During the Forecast Period?

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Automotive Air Suspension Market: Key Drivers, Trends, and Challenges

The rising sales of luxury cars are notably driving the automotive air suspension market growth, although factors such as high production costs may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive air suspension industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Air Suspension Market Driver

Rising sales of luxury cars are a major driver fueling the automotive air suspension market growth. Luxury cars are equipped with modern technologies that offer better performance, comfort, and convenience to the vehicle occupants as compared to other vehicles. Hence, the majority of the latest technological innovations, such as air suspension systems, for passenger cars are initially offered in luxury vehicles. Air suspension systems are mainly used in heavy-duty commercial trucks to reduce vibration and engine noise. However, technological advancements have made it possible to fit air suspension systems in passenger cars. The air suspension technology is restricted to luxury vehicles as the inflated price tags of luxury cars justify the cost of equipping the vehicle with air suspension systems. Increasing sales of luxury vehicles are expected to drive the production of automotive air suspension systems during the forecast period. Major luxury vehicle makers, such as BMW, Mercedes-Benz, and Audi, witnessed a significant increase in sales in 2019 as compared to 2016.

Key Automotive Air Suspension Market Trend

The development of three-chamber air spring systems is a major trend influencing the automotive air suspension market growth. OEMs and suppliers have been closely developing advanced automotive suspension systems that offer maximum comfort to the vehicle occupants. Automotive air suspension systems automatically adjust the air pressure in the airbag to mitigate the majority of the force from the road bump to go to the vehicle occupants. Automotive air suspension systems heavily cushion road bumps and let minimal impact reach the vehicle occupants while traveling over rough terrains. Vendors are developing multiple types of automotive air suspension systems with more advanced capabilities. For instance, the three-chamber air spring system developed by Vibracoustic offers increased smoothness while driving over rough terrains. The system intelligently sets its air springs based on four different stiffness levels by switching on and off individual air chambers for providing a smoother drive.

Key Automotive Air Suspension Market Challenge

High production costs are a major hindrance to the automotive air suspension market growth. The installation of automotive air suspension systems significantly increases the production costs of vehicles. Hence, the adoption of automotive air suspension systems is largely limited to luxury vehicles and heavy-duty commercial trucks. High production and installation costs associated with air suspension systems will pose a significant challenge to the growth of the global automotive air suspension market during the forecast period. The automotive air suspension system for a passenger car roughly costs $2,200, whereas the spring conversion kit costs about $1,300. The price difference between the two types of automotive suspensions is driving vehicle makers to use automotive air suspension systems in high-performance luxury vehicles only. Air suspension systems involve a complex system of sensors and equipment to constantly monitor the road conditions and adjust vehicle height accordingly. The additional number of sensors used in the

With a market share of around 11 percent, Volkswagen leads the passenger car market in Switzerland. Among Swiss residents, German cars consistently sell well, with four of the top-five most sold car brands being German.

Strong demand for luxury brands

Luxury brands fare well in Switzerland. Holding a combined market share of roughly 30 percent, Volkswagen, Mercedes, and BMW each sell on average over 20,000 units in one year, respectively, in the Swiss automobile market. VW models, such as the Tiguan and the Golf also made the top five in terms of best-selling car models in Switzerland.

About Swiss auto sales

Generally, car sales in Switzerland have fluctuated over recent years, oscillating between around 235,000 and 325,000 per year. The strongest year for car sales in Switzerland in the past decade was 2011, when annual sales figures surpassed 328,000. The majority of passenger car segments, from sports cars to large SUVs, observed a considerable drop in sales in 2020, as the global automotive industry tumbled into financial difficulties following the Covid-19 outbreak.