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Curating Life’s Luxuries Since 1976
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Digital Editor
The American luxury car market is expected to get quite the boost by 2035.
The sector is predicted to balloon to between $180 billion and $215 billion by 2035, or double its current size, according to a new study from Boston Consulting Group (BCG) and duPont Registry Group. The report places the current value of the luxury and exotic car market stateside at $110 billion.
Much of that growth will be propelled by autos priced between $100,000 and $170,000—like, say, a Porsche 911 Carrera. Cars within that range are expected to see a sales increase of 6 percent to 8 percent, the report says. Meanwhile, vehicles above that $170,000 benchmark will experience slower growth. As for where buyers are looking for these cars, around 80 percent of the study’s 400 respondents (made up of current and former owners, as well as prospective buyers) said they check online weekly or even daily for new cars, even if they don’t necessarily want to add something new to their collection at the moment. In fact, three-quarters of respondents said they would consider buying their next car entirely online.
Thanks to rising new car prices, a consequence of U.S. tariffs and higher production costs, many shoppers will turn to the pre-owned market. Sales of used cars are expected to grow 1.5 times more rapidly than new car sales over the next 10 years with a 5 to 8 percent increase.
The study also indicates that a car alone isn’t enough for consumers anymore. Around 95 percent of those surveyed said branded experiences are also a valuable part of their interaction with an automaker. The favored events include days at the track, factory tours, and driving training; more lifestyle-focused events, such as wine tastings, were also significant. Building those connections with the brand is imperative: one in three buyers said emotional factors were a top reason for choosing a car, according to the report.
“Luxury is no longer defined solely by the vehicle itself,” Antoine Tessier, CEO of duPont Registry Group and coauthor of the report, said in a statement. “Today’s buyers demand more than exceptional engineering—they expect a curated journey. From personalized digital touchpoints to exclusive, in-person experiences, the buying process has become as critical as the car. For modern collectors, that elevated experience is the true mark of luxury.”
So don’t be surprised if even more exclusive experiences start cropping up over the next decade.
Digital Editor
Nicole Hoey is Robb Report’s digital editor. While studying at Boston University, she read, wrote and read some more as an English and journalism major. A class taught by a Boston Globe copy editor…
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