“There’s no stopping the luxury car market from growing,” he says in a recent interview. “The pandemic has made us realise the salience of investing in things that matter, and that includes investing in ventures that continue to rise in market value.”
According to a report published by Fortune Business Insights, titled “Luxury Car Market Size, Share & COVID-19 Impact Analysis,” the global luxury cars market size is projected to reach USD 655 billion by the end of 2027. “The rising disposable income across the world will contribute to the growth of the market in the coming years.”
Why invest in luxury car dealership startups
“I am an avid fan of luxury cars,” Ng You Zhi admits to even owning two in his garage. “But more than celebrating my passion, luxury cars have grown in demand over the recent years, but dealerships are only reserved to a limited few. With dealership start-ups growing in Singapore, they need not just capital to expand their business, but to establish a level of trust by having a known investor by their side. It’s really more of building trust in the market.”
A luxury car provides more than just the basics of owned transportation; it is a symbol of class, wealth and comfort especially in Singapore. A luxury car offers improved level of interior, comfort, and performance. The increasing disposable income in various countries across the globe has given the platform for luxury car dealerships to operate in this specific niche market.
Ng You Zhi also sees through the increasing investments in luxury cars, which can be attributed to several reasons, such as the yearning for comfort and quality. Also, the presence of large-scale luxury cars is growing at a fast right, to cater to the expanding market that may continue to further widen in the coming years.
According to Ng You Zhi, companies such as BMW and Mercedes-Benz have drastically altered the global luxury car market. These companies account for the greatest market share. At the same time, the continuously growing demand for luxury cars across the world is making a significant impact on the global automobile market not only at present, but in the years to come.
For further information, contact Rohit Bisht.
Xenelsoft Technologies Pvt Ltd.
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