Business Background

• Market Growth: Luxury car market continues to expand driven by increasing income, affluent population, and desire for premium features (source: J.D. Power)
• Shifting Consumer Preferences: SUVs and crossovers outselling sedans their versatility, practicality, and perceived status (source: Automotive News)
• Technological Advancements: Electric vehicles (EVs) gaining traction such as Tesla, Mercedes-Benz, and Audi leading the charge (source: IHS Markit)
• Competition: Intense competition among established brands and emerging players like Tesla, Rivian, and Lucid Motors challenging traditional luxury brands
• Economic Factors: Macroeconomic conditions influence demand, and strong economy generally favors luxury car sales