Wealthy consumers are boosting demand for "super-luxury" high performance vehicles, according to research from Frost & Sullivan's Automotive & Transportation Growth Partnership Subscription.
Customers are seeking SUVs and crossovers that are both luxurious and practical, driving demand for features such as infotainment and safety features and devices, a release said.
A Frost & Sullivan study notes 2016 as a successful year for super luxury automotive brands, up 8 percent from the previous year.
"To gain a competitive advantage, OEMs should focus on building vehicles with significant convenience features in addition to maximum customization options," Frost & Sullivan mobility research Analyst Venkata Balakrishnan said in the release. "Super luxury vehicles are expected to be among the first to feature Level 4 autonomous technologies by late 2018 and Level 5 by 2020 as customers are eager to pay for advanced features that are unique and luxurious."
The United States, Middle East and China sell the most super luxury vehicles, according to the report.