Luxury Car Market Regional Analysis:
APAC Market Statistics
The luxury cars market in the APAC region will have the biggest growth during the forecast period with a revenue share of around 40%. This growth will be noticed owing to increasing investment by the government of growing countries like China, Japan, etc. in auto manufacturing. For instance, according to luxury cars market research, China launched "Made in China 2025," a long-term industrial strategy, in 2015 to make the country a global leader in vehicle manufacture by the year 2025. A target of 20% of all new automobile sales will be electric and other new-energy cars by 2022, according to the policy.
European Market Analysis
The luxury car market in the Europe region will also encounter huge growth during the forecast period and will hold the second position owing to the increasing awareness of European people for sustainability. Living well within planetary limitations is the EU's long-term objective for 2050, which is reaffirmed in the 8th Environment Action Programme (8EAP). It lays forth the key goals for 2030 together with the prerequisites for achieving them. The EU might not satisfy the majority of the monitoring objectives listed in the European Commission's eighth EAP Monitoring Communication, according to the European Environment Agency's (EEA) first monitoring report on the Program.
