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Luxury Electric Vehicle (EV) Market Share

Report ID: GMI7482
Published Date: Nov 2023
Report Format: PDF

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Luxury Electric Vehicle Market Share

Major companies operating in the luxury electric vehicle industry are:

Audi AG
BMW Group
Maserati (Stellantis)
Mercedes-Benz
Porsche AG
Tesla, Inc.
Volvo Cars

Tesla, Inc. holds the largest market share, the company offering cutting-edge features, exceptional range, and high-performance capabilities. The company's commitment to building a comprehensive charging infrastructure, notably the supercharger network, addresses a critical concern for EV buyer range, the automotive industry undergoes a transformative shift toward electric mobility, Tesla's strategic positioning and commitment to innovation have been key drivers of its market leadership in the luxury EV segment.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of luxury electric vehicles reached USD 189.9 billion in 2022 and is poised to witness a CAGR of over 8% through 2032, attributed to the brand image and the prestige associated with luxury vehicles.

The battery electric vehicles segment accounted for a market share of around 58% in 2022, owing to technological advancements in battery efficiency and range.

North America market held a revenue share of over 30% in 2022, driven by increasing demand for high-end, environmentally conscious vehicles, and a growing emphasis on sustainability.

Audi AG, BMW Group, Maserati (Stellantis), Mercedes-Benz are some of the major industry contenders.