Why Luxury Car Exports Are Rising: Insights from Industry Experts | GVE London – Blog

The automotive world is quite exciting right now, considering there have been a few unexpected changes in the industry. Your typical “boring” and “old people” cars, as they were labelled in the 2000s and before, seem to have made a massive comeback and are now highly sought after in the luxury car export market, especially in regions like the Middle East and Asia. Let’s see why.

Emerging Markets and the Youth

Arguably, two of the largest emerging markets in the world are China and India. Both have seen massive growth in the past couple of years and have also assimilated, to a very good extent, with the culture of the West, thanks to easy access to the internet. This may not be true for all aspects of culture, but the love for cars seems to be quite universal.

The per capita income of the citizens of these two countries has grown significantly in the last decade. If we take China as an example, especially in regions like the Middle East and Asia, it has now grown to USD 12,814 in 2022.

This extra disposable income has empowered the middle class to spend more on leisure items, like luxury car exports.

As a cherry on top, these countries are primarily made up of young individuals. For example, India has a relatively young population compared to many other countries. As of 2023, the median age of the population in India is approximately 28 years. And the working-class youth has acquired a taste for the finer things in life. When exporting cars from the UK, luxury cars make up a massive chunk of that number.

ICE is Still Thriving

The trend of moving towards electric vehicles (EVs) is quite evident. With growing environmental concerns and a shift in mentality, companies and a certain portion of the population have decided to move towards a zero-emission model. Many companies, like Volkswagen, which happens to be the largest automotive group in the world, have declared that they’ll be going all-electric by 2030. GM has set a goal to go all-electric by 2035, and Ford is pledging to invest $22 billion in electrification by 2025.

Now, with that said, internal combustion engines (ICE) are still the go-to for most consumers, especially car enthusiasts. Since ICEs have been around for such a long time, they are highly advanced and deliver an unmatched level of performance and, while this may be subjective, excitement in terms of driving.

Read Also: Top Destinations for Luxury Car Exports: Where Demand is Booming

Global Reach, The Internet and Purchasing Options

There was a time when exporting cars from the UK was quite a herculean task. If an individual wanted to get their hands on a luxury or supercar, they had to visit their local supercar showroom like GVE London, most likely, and options might have been limited.

That is no longer the case. Trade showrooms have opened up everywhere, and the internet has allowed the average individual to connect with them, research the process, and import the car they set their eyes on. More than anything else, the interconnectivity of the world and several buying options, like leasing or financing, has made the exchange of cars a much simpler process than it ever was.

Conclusion

The luxury car export market is booming, and industry experts agree on this. It is a direct reflection of the global changes taking place in wealth distribution, consumer behaviour, and market accessibility. If you’re looking for the best supercar showroom to purchase the most exotic cars available in London, visit GVE London. We’re the premier trade showroom in the West London area that deals with all things car, from repairs and servicing to modifications and detailing.