Retail sales of premium and luxury cars are expected to rise at a current value CAGR of 2% (-0.2% 2024 constant value CAGR) over 2024-2029 to total HKD17.
Online sales of premium and luxury cars are expected to rise in Hong Kong during the forecast period Increasingly, online consumers are looking beyond essentials and small-ticket items and are starting to buy big-ticket items such as cars online too, with this trend set to continue. The pandemic forced manufacturers to reconsider their traditional car showrooms in response to the consumer shift to e-commerce.
Government investment is set to accelerate the development of electric vehicles in Hong Kong, with electric options expected to become more significant within premium and luxury cars over the forecast period. The government has implemented various measures to improve environmental conditions, including waiving the first registration tax for electric vehicles, and allowing 100% profits tax deduction for capital expenditure by businesses on electric vehicles in the first year of procurement.
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Understand the latest market trends and future growth opportunities for the Premium and Luxury Cars industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Premium and Luxury Cars industry in Hong Kong, China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Passenger car vehicles providing exceptional comfort, aimed at the premium market and at drivers wanting a higher level of performance and handling or a vehicle that gives the impression of being capable of high-speed motoring. These cars are generally designed to appeal to high earning, status led consumers and generally retail at US$75,000 plus Example models include: Aston Martin, Ferrari, Jaguar, Bentley, Porsche, McLaren, Maserati, Rolls-Royce and Tesla
See All of Our DefinitionsThis report originates from Passport, our Premium and Luxury Cars research and analysis database.
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