Luxury Car News

Recent industry report about Luxury Car company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ Luxury Car Market industry experts.

Luxury Car Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Luxury Car News

  • In April 2024, Li Auto Inc. introduced the new Li L6, a mid-to-large-size luxury 5-seater family SUV. The Li L6 model has a 1.5T four-cylinder range extender, a 36.8 kWh lithium-iron phosphate battery, and a 300 kW/529 Nm dual-motor intelligent 4WD system.
  • In February 2024, BYD Auto Co. Ltd introduced the U9 electric supercar in China. The U9 Supercar is one of the most expensive supercars from the company. The new model can reach a top speed of 309.19 km/h and accelerate to 100 km/h within 2.36 seconds.
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  • October 2024: Rokbak had teamed up with Terapro Construction to roll out its articulated dump trucks in Eastern Canada. Terapro, boasting 18 branches in the region, targeted Quebec and select areas of Ontario. Their mission was to deliver Rokbak's articulated haulers to construction contractors and various construction sites. Terapro showcased both the RA30 and RA40 models from Rokbak's lineup of articulated dump trucks.
  • July 2024: Komatsu successfully completed its acquisition of GHH Group GmbH (GHH), a Gelsenkirchen, Germany-based manufacturer specializing in underground mining, tunneling, and specialized civil engineering equipment.
  • January 2023: John Deere expanded its Performance Tiering Strategy to its articulated dump trucks. The newly added 410 and 460 ADTs in the P-Tier portfolio retained the fuel efficiency, dump body, and drive modes of their predecessors, the E-II models.
  • October 2024: Swytch launched its electric bike, retailing at USD 1,035. In addition, the company unveiled two new Max conversion kits tailored for an extended range, complemented by a new rear hub motor. Building on the success of its original kit, the lightweight Air system, the Max, and the budget-friendly Swytch Go, the e-bike conversion kit brand is gearing up for an exciting 2025.
  • May 2024: Bafang Electric (Suzhou) Co., Ltd introduced its groundbreaking Gear Variable Transmission (GVT) technology platform, heralding a major leap forward in the cycling realm. A highlight of this platform is the G500A, an advanced internal 5-speed automatic shifting hub tailored for high-powered e-Fat bikes. This cutting-edge hub elevates the riding experience with smooth gear shifts and fine-tuned performance across diverse terrains, catering to enthusiasts who demand both power and accuracy in their electric biking journeys.
  • November 2024: Tata Motors has catalyzed growth in the GCC trailer market by introducing the Tata Prima 4440.S AMT in Saudi Arabia. This innovative automated manual transmission (AMT) truck enhances the efficiency of container, car carrier, and heavy equipment transportation, directly supporting the region's booming logistics and infrastructure sectors. Tata Motors' focus on high-performance vehicles addresses the rising demand for durable and efficient trailers, reinforcing the GCC market's rapid growth and modernization trajectory.
  • May 2023: Juffali Commercial Vehicles has expanded its footprint in Saudi Arabia by launching a new JuffaliTrucks branch in Dammam as part of a broader strategy to establish a presence across the Kingdom. This expansion bolsters the GCC trailer market by enhancing access to high-quality pre-owned Mercedes-Benz and FUSO commercial vehicles, widely utilized in trailer towing and logistics operations.
  • October 2024: Global logistics giant Aramex unveiled a joint venture to enhance services in Iraq. Teaming up with Abu Dhabi's ZK Holding, Aramex will roll out a suite of services spanning domestic and international courier deliveries, freight forwarding, and contract logistics. This collaboration allows Aramex to bolster its presence in Iraq, leveraging ZK Holding's vast network, which boasts over 7,000 sales points nationwide. This strategic move promises to streamline pickup and drop-off services, enhancing logistics operations in over 15 Iraqi cities.
  • June 2023: DP World introduced a pioneering direct freight service between the UAE and Iraq, utilizing ro-ro ships specifically for unaccompanied trailers. In this setup, trailers are transported by sea without their accompanying driver or truck cab. The driver leaves the trailer at the port's quayside, which is then independently loaded and unloaded from the ship. Operating under the banner of P&O Maritime Transport, this inaugural service in the UAE covers the distance between Jebel Ali and Umm Qasr in southern Iraq in roughly 36 hours.
  • June 2024: PACCAR Parts launched its third trailer parts catalog for Australia and New Zealand. The catalog covers details of key components in specific areas and volume three includes in-depth details on every trailer part from a wide range of quality brands including Cummins Meritor, TRP, Hendrickson, SAF-Holland, and BPW Transpec.
  • March 2024: Bridgestone launched the new R168II in the trailer tire size 11R22.5. The new tire offers greater wear life and reliability than the R168 and provides more value to operators. In addition, the R168II has been designed and developed specifically for Australian conditions.
  • March 2024: Hyzon introduced a single stack 200kW fuel cell system and powertrain vehicle, Hyzon's 200kW Prime Mover. The vehicle is a heavy-duty commercial truck designed to tow a semi-trailer.
  • September 2024: Peugeot introduced its mid-size electric van, the E-Expert, to the Australian market. This cutting-edge vehicle addresses the rising demand for eco-friendly transportation solutions in the commercial arena. Boasting a roomy interior and adaptable cargo space, the E-Expert serves businesses aiming to lessen their carbon footprint without compromising on efficiency.
  • August 2024: Ford Motor Company unveiled its plans to introduce a medium-sized electric utility vehicle (ute) by 2027. This model is designed to seamlessly blend functionality with eco-friendliness, catering to consumers seeking both power and sustainability in their transportation choices.
  • September 2024: Thermo King Eastern Canada announced the launch of Coldtainer's new F0760 AuO model. This model becomes the tallest front-loading portable refrigeration unit in the series. This state-of-the-art autonomous portable refrigeration container of the company is designed to meet the increasing demand for reliable and efficient temperature-controlled storage solutions across various industry verticals such as food service, pharmaceuticals, and logistics.
  • March 2024: Morgan Truck Body LLC announced that it had acquired Transit Truck Bodies Inc., a manufacturer of truck bodies in Laval, Quebec, Canada. This acquisition of Transit increases the company’s presence in the region with a total number of Morgan Truck Body facilities to 14 manufacturing sites in North America.
  • May 2024: GreenPower Motor Company Inc., a leading manufacturer of refrigerated vehicles, announced that the company launched a new state-of-the-art all-electric refrigerated truck.
  • June 2024: SingAuto, hailing from Singapore, made waves by launching its inaugural global electric commercial vehicle brand. The grand unveiling took place at the prestigious Yas Marina Circuit. Highlighting SingAuto's aspirations, the event showcased the debut of the world's first one-step new energy-intelligent refrigerated vehicle. This innovation underscores SingAuto's ambition to spearhead the realm of new energy and intelligent logistics solutions.
  • September 2024: Mullen Automotive, Inc., an electric vehicle manufacturer, revealed that Volt Mobility in the United Arab Emirates has recently placed a USD 210 million order for commercial Class 1 and Class 3 EVs. This week, Mullen's technical and sales teams landed in Dubai, engaging with Volt’s leadership to bolster initial market launch efforts. Their activities included delivering the first Mullen ONE EV cargo vans and Mullen THREE cab chassis trucks.
  • October 2024: Emirates Transport, a commercial transport provider from the UAE, joined forces with Al Ghurair Motors, also based in the UAE. Together, they initiated pilot projects to assess the viability and efficiency of hydrogen and electric commercial vehicles. This collaboration underscores Emirates Transport's commitment to exploring and integrating alternative fuel vehicles into its operations. The two companies formalized their partnership with an MoU during GITEX Global 2024, held at the Dubai World Trade Centre.
  • November 2024: UD Trucks, in collaboration with GB Auto, launched operations in Egypt, marking a significant entry into the country's commercial vehicle market. The inauguration event, held at the historic Citadel of Saladin, underscored the partnership's commitment to providing reliable and efficient trucks tailored to the needs of Egyptian businesses. This strategic move aims to enhance the logistics and transportation sectors, aligning with Egypt's infrastructure development goals.
  • October 2024: Geyushi Automotive Industry, in collaboration with Sinotruk, celebrated the opening of the first Sinotruk showroom in Egypt. This development is part of their efforts to introduce advanced heavy-duty trucks to the Egyptian market, catering to the growing demand in the logistics and construction sectors. The showroom aims to provide customers with access to a range of Sinotruk models, enhancing the availability of high-quality commercial vehicles in the country.
  • November 2023: Geyushi Automotive Industry commenced the assembly of the Sinotruk Howo T7H tractor head at their facility in the 10th of Ramadan Industrial City. This initiative is poised to strengthen Egypt's position in automotive manufacturing by offering modern solutions for the nation's transportation infrastructure. The locally assembled Howo T7H is expected to become an integral component of Egypt's transport fleet, driving the country's progress in industrial and economic advancement.
  • March 2024: Scientists at the Indian Institute of Technology Madras (IIT Madras) developed India’s most customizable Electric Standing Wheelchair, NeoStand. The wheelchair is a compact standing wheelchair where wheelchair users can effortlessly transition from sitting to standing at the touch of a button.
  • January 2024: Sunrise Medical announced the launch of the Switch-It Vigo head control, a proportional head control that allows drivers to control their wheelchairs and other devices with gentle and intuitive head movements.
  • October 2023: Sunrise Medical unveiled the LECKEY MyWay+ Gait Trainer, a groundbreaking product designed to foster independence and exploration in children. The MyWay+ boasts a minimalist, open-frame design that supports children in an upright position, enhancing stepping and providing ample opportunities for exploration, interaction, and participation.
  • May 2023: Permobil introduced the M Corpus VS wheelchair, offering best-in-class power standing combined with the maneuverability of a mid-wheel drive base. Featuring redesigned swing-away knee supports and improved programming, the M Corpus VS incorporates multiple innovations to benefit individuals in need of power standing. Permobil also introduced a new DualLink suspension exclusively for the M Corpus VS, optimizing stability during standing for mid-wheel drive.

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