China Luxury Car Market Report by Vehicle Type (Hatchback, Sedan, Sports Utility Vehicle), Fuel Type (Gasoline, Diesel, Electric), Price Range (Entry-Level, Mid-Level, High-End, Ultra), Engine Capacity (Up to 3,000 CC, Above 3,000 CC), and Region 2024-2032

China Luxury Car Market Report by Vehicle Type (Hatchback, Sedan, Sports Utility Vehicle), Fuel Type (Gasoline, Diesel, Electric), Price Range (Entry-Level, Mid-Level, High-End, Ultra), Engine Capacity (Up to 3,000 CC, Above 3,000 CC), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A6360
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Market Overview:

The China luxury car market size reached US$ 182.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 336.1 Billion by 2032, exhibiting a growth rate (CAGR) of 7.01% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
Forecast Years
Historical Years
Market Size in 2023
US$ 182.6 Billion
Market Forecast in 2032
US$ 336.1 Billion
Market Growth Rate 2024-2032 7.01%

A luxury car represents a range of categorized advanced vehicles equipped with enhanced capacities, lavish interiors, and the latest safety technologies to provide optimal comfort to passengers and drivers. As compared to moderately priced conventional automobiles, it is more sophisticated and offers superior competence and a higher amount of convenience. Apart from this, a luxury car is more aesthetically appealing, customizable, and comprise Bluetooth or wireless fidelity (Wi-Fi) entertainment systems, anti-lock brakes, sensors, and cameras. These devices optimize overall vehicle performance and reduce the risk of accidents by providing a rear view and security alerts. Currently, luxury cars are commonly available in commercial and passenger vehicles with different propulsion types. 

China Luxury Car Market Trends:

The market in China is majorly driven by the increasing offerings of tangible luxurious properties within automobiles and the shifting consumer inclination toward branded autonomous luxury vehicles over conventional transportation modes. This is further influenced by the inflating disposable income and the rising awareness amongst consumers regarding the benefits of luxury cars, including safety, resale value, prestige, coexistent beauty and comfort, state-of-the-art technology, and the potential to add individual style. In line with this, the growing need for a comfortable driving experience and enhanced security systems to ensure passengers’ optimal safety is acting as another growth-inducing factor. Additionally, the favorable green initiatives being undertaken by the People’s Republic of China and environmental agencies to promote the uptake of sustainable transportation modes, such as premium electric vehicles (EVs), to reduce greenhouse gas (GHG) emissions are propelling the market growth. Moreover, the large-scale integration of artificial intelligence (AI) and machine learning (ML) solutions with automatic security, seat massager, and entertainment systems are contributing to the market growth. Other factors, such as the rapid expansion in the automotive sector and strategic collaborations amongst original equipment manufacturers (OEMs) and key players to engineer luxury cars with enhanced performance, are positively stimulating the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the China luxury car market report, along with forecasts at the country and regional level from 2024-2032. Our report has categorized the market based on vehicle type, fuel type, price range and engine capacity.

Breakup by Vehicle Type:

  • Hatchback
  • Sedan
  • Sports Utility Vehicle

Breakup by Fuel Type:

  • Gasoline
  • Diesel
  • Electric

Breakup by Price Range:

  • Entry-Level
  • Mid-Level
  • High-End
  • Ultra

Breakup by Engine Capacity:

  • Up to 3,000 CC
  • Above 3,000 CC

Breakup by Region:

  • Guangdong
  • Jiangsu
  • Zhejiang
  • Henan
  • Sichuan
  • Shanghai
  • Others

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Vehicle Type, Fuel Type, Price Range, Engine Capacity, Region
Region Covered Guangdong, Jiangsu, Zhejiang, Henan, Sichuan, Shanghai, Others
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3699
Five User License: US$ 4699
Corporate License: US$ 5699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The China luxury car market was valued at US$ 182.6 Billion in 2023.

We expect the China luxury car market to exhibit a CAGR of 7.01% during 2024-2032.

The rising disposable income levels of individuals, along with the escalating demand for luxury cars that offer improved comfort and innovative services, are primarily driving the China luxury car market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation, resulting in the temporary closure of numerous manufacturing units for luxury cars.

Based on the vehicle type, the China luxury car market can be categorized into hatchback, sedan, and sports utility vehicle. Currently, sports utility vehicle accounts for the majority of the total market share.

Based on the fuel type, the China luxury car market has been segregated into gasoline, diesel, and electric. Among these, gasoline currently exhibits a clear dominance in the market.

Based on the engine capacity, the China luxury car market can be bifurcated into up to 3,000 CC and above 3,000 CC. Currently, up to 3,000 CC holds the largest market share.

On a regional level, the market has been classified into Guangdong, Jiangsu, Zhejiang, Henan, Sichuan, Shanghai, and others, where Guangdong currently dominates the China luxury car market.

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China Luxury Car Market Report by Vehicle Type (Hatchback, Sedan, Sports Utility Vehicle), Fuel Type (Gasoline, Diesel, Electric), Price Range (Entry-Level, Mid-Level, High-End, Ultra), Engine Capacity (Up to 3,000 CC, Above 3,000 CC), and Region 2024-2032
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