Luxury vehicle is a term used for the vehicles that provide luxury (pleasant or desirable features beyond necessity) at premium price. It can also be referred as the vehicle with features such as, higher quality equipment, better performance, more precise construction, comfort, higher design and technologically innovative with features that convey an image, brand, status or prestige for the individual in the society. Luxury vehicles provide high degree of comfort than other vehicles. Major contents of these cars are genuine leather upholstery and polished \”wood grain-look\” dashboards.
Luxury vehicles may be classified into different forms such as sedan, coupe, hatchback, station wagon, minivans, crossovers, sport utility vehicles and convertible body styles.
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FACTS AT A GLANCE
Companies: BMW, Mercedes-Benz, Rolls-Royce, Jaguar, Audi, Bentley, Lamborghini, Volvo, Ferrari, Land Rover, Lexus and Cadillac.
Coverage: All major geographies and key segments
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Segments: Luxury Vehicles Market Segmented By type such as sedan, coupe, hatchback, station wagon, minivans, crossovers, sport utility vehicles and convertible body styles.
Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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ABSTRACT-
In every era of automobile history, there is a group of car models that are expensive to purchase, due to their alleged superiority of design and engineering. As these models targeted the wealthy customers these are termed as luxury cars. Automobile manufacturers provide different models that are targeted at particular socio-economic classes according to their income and standard of living in the society.
Rising fuel price can act as restraints for the global luxury vehicle market especially in the developing countries such as India.
According to Statista (Statistics Company) average prices for crude oil increased from USD 77.38 per barrel in 2010 to USD 105.87 per barrel in 2013.
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