Executive Cars - Italy

Italy

Revenue in the Executive Cars market is projected to reach €622m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -1.61%, resulting in a projected market volume of €573m by 2029.
Executive Cars market unit sales are expected to reach 9,875.0vehicles in 2029.
The volume weighted average price of Executive Cars market in 2024 is expected to amount to €57k.
From an international perspective it is shown that the most revenue will be generated in China (€58,430m in 2024).

Key regions: United States, Worldwide, Germany, United Kingdom, Europe

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Analyst Opinion

The Executive Cars market in Italy is experiencing steady growth, driven by customer preferences for luxury and performance vehicles. Italian consumers have a strong affinity for high-end automobiles, and the demand for executive cars reflects their desire for style, comfort, and prestige.

Customer preferences: Italian consumers have a long-standing appreciation for luxury and performance vehicles. They value the craftsmanship, design, and advanced features that executive cars offer. The desire to own a prestigious vehicle is often seen as a status symbol, reflecting one's success and social standing. Additionally, Italian consumers prioritize comfort and performance, making executive cars an ideal choice for their daily transportation needs.

Trends in the market: One of the notable trends in the Executive Cars market in Italy is the increasing popularity of electric and hybrid models. As environmental concerns and sustainability become more prominent, Italian consumers are showing a growing interest in eco-friendly vehicles. Executive car manufacturers have responded to this trend by introducing electric and hybrid models that combine luxury and performance with reduced carbon emissions. This shift towards greener options is expected to continue driving the market in the coming years. Another trend in the market is the integration of advanced technology and connectivity features. Italian consumers are increasingly seeking vehicles that offer seamless integration with their smartphones and other digital devices. They value features such as touchscreen infotainment systems, voice recognition, and advanced driver-assistance systems. Executive car manufacturers are responding to this demand by incorporating these technologies into their vehicles, enhancing the overall driving experience.

Local special circumstances: Italy's rich automotive heritage and strong manufacturing capabilities contribute to the growth of the Executive Cars market. The country is home to several renowned luxury car brands, such as Ferrari, Lamborghini, and Maserati. These brands have a strong presence in the domestic market and are highly regarded worldwide. The Italian automotive industry's expertise in design and engineering further strengthens the market for executive cars in the country.

Underlying macroeconomic factors: Italy's stable economy and increasing disposable incomes play a significant role in driving the Executive Cars market. As the economy grows, consumers have more purchasing power, allowing them to afford luxury vehicles. Additionally, low interest rates and favorable financing options make it easier for consumers to finance their purchases. The availability of attractive leasing and financing options encourages consumers to consider executive cars as a viable option. In conclusion, the Executive Cars market in Italy is experiencing growth due to customer preferences for luxury and performance vehicles, the increasing popularity of electric and hybrid models, the integration of advanced technology, Italy's automotive heritage and manufacturing capabilities, and the country's stable economy and increasing disposable incomes. These factors contribute to the overall development and expansion of the market in Italy.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).