What is the Current State of the Global Luxury Car Market?
The top 10 luxury car brands in the world are contributing to a fast-growing global luxury car market in 2020. The luxury car market is projected to grow at a CAGR of 5.38% by 2024. BMW, Mercedes-Benz, and Audi are the largest luxury car brands in the world by revenue. The luxury car market is mainly dominated by manufacturers from Germany, Italy, and the UK, but the brand value list conducted by BizVibe adds new companies on the list.
This fact sheet is to assist business professionals, investors, and people in general that are interested in gaining insights into the global luxury car market including:
- Discover who the top 10 luxury car brands in the world by brand value and revenue are in 2020?
- What are the global luxury car market statistics to leverage in 2020?
- Connect with the top automobile manufacturers of luxury cars at a B2B level.
Did you know: Car buyers spend 59% of their time online researching. (Autotrader)
The modern car buyer is spending less time at the dealership and looking for ways to discover, track, evaluate, and connect with automobile dealers online. Don’t feel pressured at the dealership, 78% of shoppers are using websites like BizVibe to find the top luxury car brands online.
Luxury Car Market Statistics
- BMW, Audi, and Mercedes-Benz account for approximately 70% share of the global luxury car market.
- Mercedes-Benz is the global leader in the luxury car segment.
- SUVs contributed the most to the growth of the global luxury vehicle market, with an average growth rate of 14% during the last five years.
- The fastest-growing market is in the Asia Pacific region.
- The global luxury car market is anticipated to grow at a CAGR of about 5.83% by 2024.
Top 10 Luxury Car Brands in the World in 2020
Who are the top 10 luxury car brands in the world in 2020? The following is a list of the top luxury car brands ranked by a combination of revenue and brand value.
1. Tesla, Inc.
New on the list of the top 10 luxury car brands in the world list starts with Tesla, the American electric vehicle and clean energy company based in Palo Alto, California. Tesla was founded in 2003 as a technology company and automaker. Tesla ranks as the world’s best-selling plug-in as well as best-selling battery electric passenger car manufacturers by cars sold in 2019.
Tesla’s main pull is in the electric vehicle market and provides a very popular car lineup of luxury cars including the Model S, Model X, Model Y; the everyday brand Model 3; and the soon to be released Cybertruck. Tesla is disrupting the luxury car market as its sales numbers are wreaking havoc on the pre-owned luxury car market. The once-strong demand for European luxury brands is now shifting to Tesla’s electric car offerings.
- Founded: 2003
- Tesla Headquarters: Palo Alto, California, U.S.
- Tesla Total Asset Value: USD 34.30 billion
- Tesla Revenue: USD 24.57 billion
- Tesla Number of Employees: 48,016
The brand power of Ferrari has always been super strong and that’s why the company ranks 2nd on BizVibe’s list of the top 10 luxury car brands in the world in 2020. Ferrari is is an Italian luxury sports car manufacturer known for its supercars. Ferrari has two headquarters, one in the Netherlands and the other in Italy, and has annual revenues of nearly USD 3.8 billion. Brand Finance ranked Ferrari as the world’s most powerful brand in 2014.
- Founded: 1939
- Ferrari Headquarters: Maranello, Emilia-Romagna, Italy & Amsterdam, Netherlands
- Ferrari Total Asset Value: USD 4.57 billion
- Ferrari Revenue: USD 3.73 billion
- Ferrari Number of Employees: 3,336
Coming in 3rd on the list of the top luxury car brands in the world is also from Italy and a luxury vehicle brand known for its supercars. Lamborghini is an Italian brand and manufacturer of luxury sports cars and SUVs based in Sant’Agata Bolognese and currently owned by the Volkswagen Group through its subsidiary Audi. The company brings in annual revenues of USD 647.2 million and in addition to luxury cars, the company is also known for manufacturing marine engines, motorcycles, and other branded merchandise.
- Founded: 1963
- Lamborghini Headquarters: Sant’Agata Bolognese, Italy
- Lamborghini Revenue: USD 647.2 million
- Lamborghini Number of Employees: 1,146
Mercedes-Benz is a German global automobile marque and a division of Daimler AG and 4th on BizVibe’s list of the top luxury car brands In the world. The company is known for luxury vehicles, vans, trucks, buses, coaches, and ambulances. Founded in 1926, Mercedez-Benz brings in the highest annual revenue among the top luxury car brands with annual revenues reaching USD 185 billion.
- Founded: 1926
- Mercedes-Benz Headquarters: Stuttgart, Germany
- Mercedes-Benz Revenue: USD 185 billion
BMW is a German multinational company known for manufacturing and producing automobiles and motorcycles. Founded in 1916, BMW is a well-recognized company with high annual revenues. The company’s headquarters are in Munich, Germany and the company is especially known for its German-engineering. BMW is 2nd to Mercedes-Benz in annual revenue on this list.
- Founded: 1916
- BMW Headquarters: Munich, Germany
- BMW Revenue: USD 115.2 billion
Specializing in high-performance luxury cars, Porsche is a German automobile manufacturer and 6th on this list of the top 10 luxury car brands in the world in 2020. Porsche’s current lineup of sportscars includes the 718 Boxster/Cayman, 911, Panamera, Macan, Cayenne, and Taycan.
Porsche was founded in 1931 in Germany and is majority-owned by Porsche Automobil Holding SE.
- Founded: 1931
- Porsche Headquarters: Stuttgart, Baden-Württemberg, Germany
- Porsche Revenue: USD 23.8 billion
- Porsche Number of Employees: 24,481
7. Aston Martin
The first UK-based company on this list of the top luxury vehicle brands is the British independent manufacturer of luxury sports cars and grand tourers Aston Martin. Aston Martin generated annual revenue of USD 1.23 billion last year and is known for its multiple luxury car lines.
- Founded: 1913
- Aston Martin Headquarters: Gaydon, England, UK
- Aston Martin Revenue: USD 1.23 billion
Jaguar is a British multinational car manufacturer with its headquarters in Whitley, Coventry, England and is the luxury car segment for Jaguar Land Rover. The company ranks 8th on BizVibe’s list of the top luxury car brands in the world in 2020 due to its popular lineup of cars.
The company was founded in 1935 and has a current car lineup including the following vehicles: E-Pace, F-Pace, F-Type, I-Pace, XE, XF, and XJ.
- Founded: 1935
- Jaguar Headquarters: Whitley, Coventry, England
- Jaguar Revenue: USD 32 billion
9. Rolls Royce
The third company on this list the British luxury automobile maker, Rolls Royce. Rolls Royce is currently owned by German group BMW and is known for a wide range of luxury cars with a strong brand presence worldwide. The company was founded in 1998 and ranks 3rd on this list of the top 10 luxury car brands in the world.
- Founded: 1998
- Rolls Royce Headquarters: Goodwood, West Sussex, England, United Kingdom
- Rolls Royce Revenue: USD 20.6 million
- Rolls Royce Number of Employees: 1,300
Bentley is s a British manufacturer of luxury cars and is currently owned by the Volkswagen Group. Bentley is a brand synonymous with the word luxury and has a really popular lineup of luxury cars and vehicles. Bentley was founded in 1919 — making the company one of the oldest among the top 10 luxury car brands in the world list.
- Founded: 1919
- Bentley Headquarters: Crewe, England, United Kingdom
- Bentley Revenue: USD 1.6 million
This is BizVibe’s list of the top 10 luxury car brands in the world based on revenue and brand value. These companies are changing the way businesses are innovating in the luxury car market.
Top 10 Luxury Car Brands in the World by Revenue (2020)
Revenue in USD billions
|1||Mercedes-Benz||USD 185 billion|
|2||BMW||USD 115.2 billion|
|3||Jaguar||USD 32 billion|
|4||Tesla||USD 24.6 billion|
|5||Porsche||USD 23.8 billion|
|6||Ferrari||USD 3.73 billion|
|7||Aston Martin||USD 1.23 billion|
|8||Rolls Royce||USD 20.6 million|
|9||Lamborghini||USD 647.2 million|
|10||Bentley||USD 1.6 million|
The Future of the Luxury Car Market
Looking past 2020, the future of the luxury car market looks promising as the top 10 luxury car brands in the world continue to grow their total assets and annual revenue. Expect the industry to keep growing and the key players to play a vital role in its growth as the industry pushes towards better cars and new technology.