1、luxury vehicle market to see rapiD growthGlobal luxury vehicle market outlookJunyi ZhangSimon SchnurrerFrank FangGavin Liu Oliver Wyman2Luxury Vehicle Market To See Rapid GrowthThe global pandemic has resulted in many far-reaching consequences,including disrupted supply chains and inflation,that hav

2、e reshaped the global consumer and retail market.With rising health and safety concerns,customer behavior has also transformed dramatically.Additionally,with more and more High-Net-Worth Individuals(HNWIs)worldwide despite the effects of the pandemic,the global luxury market has outperformed the res

3、t of the consumer and retail market with robust growth.In this evolving environment,the luxury vehicle market,considered to be among the class of most valuable and durable luxury goods,is expected to grab market share from the non-luxury vehicle market in the coming decade.In fact,with the rising po

4、pularity of electrification and many other trends,it is expected to enjoy annual growth rates in the double digits.Oliver Wyman3Luxury Vehicle Market To See Rapid GrowthGLOBAL LUXURY MARKET POISED FOR GROWTHThe global luxury market includes several segments,including experiential luxury,fine wines a

5、nd spirits,luxury cars,and personal luxury goods.The global luxury market is recovering from the global pandemic and showing strong growth momentum.It is expected to have achieved a growth rate of 9%in 2022,reaching approximately 1.2 trillion,from about 1.1 trillion in 2021.The promising market perf

6、ormance has been largely driven by the expanding base of HNWIs(individuals with a net worth of$1 million or more,including their primary residence),the release of consumption power in new markets,the diversification of participants in the luxury goods market,the stimulus seen from sustainability,the