Zion Market Research Global Luxury vehicles market, 2015–2021 | Page 2

Luxury vehicles market
Zion Market Research, the market research group announced the analysis report titled
'Luxury vehicles market: Global Industry Analysis, Size, Share, Growth, Trends, and
Forecasts 2015–2021'
The term “luxury vehicle” suggests a vehicle with higher quality equipment, explicit
construction, comfort, better performance, higher design, and is technologically modern and
featured. It is a perceptual, conditional, and subjective attribute that may be apprehended
differently by different people. Luxury vehicles are a symbol of an image, brand, prestige, or
status that is offered at premium prices. These vehicles provide emphasized comfort and
the higher degree of safety compared to mainstream vehicles.
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vehicles-market
The past of automobile industry shows that there has been a point where it had a group of
car models that were expensive to purchase owing to the so-called superiority of their
design and engineering. Wealthy buyers and the high-standard group of people give
importance to their society status and prestige. Hence, these automobiles specifically focus
on such wealthy buyers and are generically termed as “luxury vehicles”. By providing
various models, manufacturers of these luxury vehicles target particular socio-economic
classes taking into account their income and standard of living in the society.