Pune, India, Sept. 19, 2022 (GLOBE NEWSWIRE) — The global Size of the luxury car market expected to reach $655.0 billion by the end of 2027. The increasing disposable income worldwide will contribute to the growth of the market in the coming years. According to a report published by Fortune Business Insights, Global Luxury Car Market Size, Share & Industry Analysis, By Vehicle Type (Hatchback, Sedan, and Sport Utility Vehicle), By Propulsion Type (ICE and Electric) and Regional Forecasts, 2020 -2027″, the market was valued at USD 449.7 billion and is expected to show a CAGR of 9.3% during the forecast period 2020-2027.

A luxury car offers an enhanced level of interior space, comfort and performance that is usually higher than a base car. The rising disposable income in several countries around the world has created the platform for the companies operating in the market. The massive investment in luxury cars can be attributed to several reasons, among which comfort and quality stand out. The presence of several major luxury car manufacturers will favor the growth of the market in the coming years. Companies like BMW and Mercedes-Benz have completely changed the face of the global luxury car market, with these companies together occupying a dominant market share. The increasing global demand for luxury cars will have a huge impact on the growth of the global market in the coming years.

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