Luxury cars has always been a hot topic, so we decided to enlist the top 10 luxury car brands in the world. Luxury car sales account for roughly 18% of the total unit overall cars sold around the world. Over the last 10 years, premium car sales growth has surpassed that of non-premium cars. However, experts think luxury car sales will lose steam in the coming years as buyers are starting to prefer petrol cars instead of diesel cars. This trend has resulted in car makers shifting their focus towards SUVs, which outsold luxury cars for the first time in 2016. However, luxury car buyers around the world are often loyal to the brand and the persistent economic polarity in almost all parts of the world will keep the market share of Tier 1 luxury cars undamaged, as the rich are getting even richer every year. Luxury car brands are giving revolutionary features in their latest cars, including the much-awaited “connected car” systems, advanced infotainment apps, security systems, Wi-fi, real-time location services and routing based on traffic conditions.
The US automotive industry is expected to change radically under the Trump administration. Last month, President Trump met with executives of General Motors, Ford and Fiat Chrysler in Detroit and demanded them to move their manufacturing plants back in the country. Experts think that car manufacturing in the US will result in increased prices. The Center for Automotive Research estimates that a Ford Fusion sedan will cost $1,200 more if produced in the US due to higher wages and production costs. Similarly, Jim Lentz, CEO of Toyota North America, recently said that if the new government starts imposing tariffs on imports of car parts, customers will have to pay $1,000 more for a Toyota Camry, the nation’s best-selling car.
To make things worse, the Wall Street is expecting the first ever decline in car sales in 2017 after almost seven years. Total car sales in the current year are expected to come in at 17.3 million units, compared to 17.55 million in 2016.
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German automobile companies take top positions in the list of top 10 luxury car brands. BMW, Audi and Mercedes-Benz account for nearly 80% share of the global luxury car market. Let’s find out all the top 10 luxury car brands in the world. We are ranking these popular luxury car brands based on unit sales for the year 2016.
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