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:
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Revenue in USD billions
USD 185 billion
USD 115.2 billion
USD 32 billion
USD 24.6 billion
USD 23.8 billion
USD 3.73 billion
USD 1.23 billion
USD 20.6 million
USD 647.2 million
USD 1.6 million
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.