Australia Luxury Car Market Report and Forecast 2024-2032

Australia Luxury Car Market Outlook

The Australia luxury car market size is projected to grow at a CAGR of 5.88% between 2024 and 2032.

Key Takeaways:

• According to Australian Bureau of Statistics, approximately 600,000 persons in Australia are earning between USD 380 and USD 389 per week.

• Further, around 4.3% of the population are having a weekly income in the range of USD 490 to USD 499.

• As per ABS, employee wages and salary are the main source of personal income for most people aged between 15 and 64 years.

Evolving consumer preferences, better technicality, advanced features, along with rising disposable income are expected to drive the Australia luxury car demand

In Australia luxury car market, high-end carmakers are constantly pushing the technical features in their vehicles. This includes everything from super-smart safety features, like automatic brakes that kick in on their own and lane warnings to keep the vehicle on track, to next-level entertainment systems that work flawlessly with the phone and provide a better safety feature the customers.

Australia luxury car market offers more attractive car options to buyers owing to a surge in cutting-edge technology. This trend caters to a new generation of customers who value high-tech features alongside the classic hallmarks of luxury cars, such as comfort, speed, and status.

Further, Australia luxury car demand is expected to witness significant growth due to growing affluence and advancements in traditional gasoline and diesel engines. As disposable income increases, customers are more likely to consider buying a luxury car. Improvements in engine technology – like cleaner emissions, better performance, and increased fuel efficiency – make traditional engines more attractive options for luxury car buyers. This trend of strong sales in the gasoline and diesel segment is anticipated to propel the entire Australian luxury car market forward in the coming years.

Market Segmentation

Australia Luxury Car Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Vehicle Type

• Hatchback

• Sedan

• Sports Utility Vehicle and Multi-Purpose Vehicles

Market Breakup by Propulsion Type

• Internal Combustion Engine (ICE)

• Electric

Market Breakup by Region

• New South Wales

• Victoria

• Queensland

• Australian Capital Territory

• Western Australia

• Others

The Australia luxury car market key players are Aston Martin Lagonda Limited, BMW Australia Ltd., Ferrari S.p.A, Mercedes-Benz Australia/Pacific Pty Ltd., General Motors Australia and New Zealand Pty Ltd., Tesla Motors Australia, Pty Ltd., RVDA Pty Ltd., Porsche Cars Australia Pty Ltd., McLaren Automotive Limited, and Mazda Australia Pty Ltd., among others.

Key Highlights of the Report

Australia Luxury Car Market Report Snapshots

Australia Luxury Car Market Size

Australia Luxury Car Companies