Bahrain’s luxury car market is experiencing significant growth, with market revenues expected to reach USD 43 million in 2024. This growth is driven by a shift towards electric and hybrid vehicles, as well as a rising demand for high-end SUVs. A recent report from Statista predicts that the market will continue to expand, with an annual growth rate of 12.19% anticipated until 2028, resulting in a projected market size of USD 67 million by that time.
The report highlights a steady increase in luxury car sales in Bahrain, fueled by rising disposable incomes and a growing interest in premium vehicles. Consumers are drawn to luxury cars for their superior quality, advanced features, and the prestige associated with their brands. Key trends in the market include a shift towards electric and hybrid models, reflecting consumers’ increasing environmental awareness. Manufacturers have responded by offering a wider array of electric and hybrid vehicles to meet changing preferences.
Luxury SUVs are also gaining popularity in Bahrain as consumers seek spacious and adaptable options. Manufacturers have enhanced their SUV ranges with luxurious features and high-performance capabilities to meet this growing demand. With sales expected to reach 600 units in 2024 and an average price of USD 105,000, the luxury car market in Bahrain is poised for continued growth in the coming years.
On a global scale, the United States is projected to dominate luxury car revenues, with earnings of USD 6,654 million expected in 2024. Bahraini customers are increasingly seeking cars that combine luxury, comfort, and performance, reflecting broader trends within the luxury car sector. As the market evolves, manufacturers will need to continue to innovate and adapt to meet the changing needs and preferences of consumers in Bahrain and beyond.
