Luxury SUV Market Share

Luxury SUV Market Share

Toyota Motor Corporation, Volvo Car Corporation, and General Motors collectively held a substantial market share of over 15% in the luxury SUV industry in 2024. Toyota Motor Corporation manufactures luxury SUVs that integrate advanced technology with proven reliability. The company’s strategy focuses on offering hybrid models to address the growing demand for eco-friendly vehicles while maintaining its reputation for durability and strong resale value. This approach appeals to consumers seeking luxury combined with long-term dependability.
 

Volvo Car Corporation prioritizes safety, sustainability, and Scandinavian design in its luxury SUVs. The company is expanding its portfolio of electric and hybrid vehicles, including models such as the EX90 and the updated XC90 hybrid, with the goal of becoming a fully electric car manufacturer by 2030. This strategy targets environmentally conscious consumers who value premium quality, safety, and modern design.
 

General Motors, through its Cadillac brand, focuses on the luxury SUV market by emphasizing innovation and advancements in electric vehicles. The launch of the Cadillac Lyriq, an all-electric luxury SUV, highlights GM’s commitment to electrification and cutting-edge technology, appealing to consumers seeking modern, high-end SUVs with sustainable powertrains.
 

Luxury SUV Market Companies

Major players operating in the luxury SUV industry are:

• Aston Martin
• BMW Group
• Ferrari
• General Motors
• Porsche
• Rolls-Royce
• Tata Motors
• Toyota Motor
• Volkswagen
• Volvo Car