The future of the luxury supercar market in light of secular trends

Abstract

Sales of luxury supercars have been growing in recent years, becoming the most valued luxury sector globally while receiving little attention from academics. This dissertation analyzed the impact of changing consumer behavior of Generation Z and secular trends on this industry. Respectively, the paper anticipated the outlook of the supercar market and how manufacturers could adapt to trends such as generational transition, the sharing economy, sustainability, and deglobalization. The study combined qualitative and quantitative research methods. The review of literature analyzed key findings of scholars which were tested by conducting semi-structured interviews with industry experts and an online survey capturing the perspective of potential customers using the triangulation method. The key findings of this study revealed that the behavior of Gen Z is different from other cohorts, especially in their greater sustainability awareness when placing a high value on responsible manufacturing and supply chain processes, the application of non-harmful materials, and their willingness to use alternative fuels. Moreover, Gen Zers prioritize access to supercars rather than their direct ownership while being receptive to the concept of sharing economy. The study further highlighted that the luxury car industry is resilient to deglobalization effects and suggested several attributes for manufacturers to incorporate into their strategy to remain competitive.

Date of Award	30 Jun 2023
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Peter V. Rajsingh (Supervisor)