The demand for luxury cars in the country has increased in the last few years. Audi and Mercedes, makers of premium cars, have made record sales in the festive season this year. Demand for these companies was weak this year. However, luxury car companies are hoping to make up for some of this in the festive season.
Santosh Iyer, Managing Director (MD) and Chief Executive Officer (CEO), Mercedes-Benz India, said the festive season from Onam to Diwali this year was better than last year due to several new product launches, attractive portfolio and strong customer sentiment. Is.
Audi Sales Report
Audi India chief Balbir Singh Dhillon said the company has seen a growth of 88 per cent in January-September 2023 with retail sales at 5,530 units. Which is much better in comparison to last year. Dhillon said that this year the luxury car industry in India has crossed the volume of 2018, where in 2018, 46 thousand vehicles were sold, while this year this number will increase to 47,000 units.
BMW Group India President Vikram Pava said that the company has launched some powerful products during the festive period, which include both cars and motorcycles. He said, ‘We will continue this momentum further.’
Sharad Aggarwal, Head of Lamborghini India, said that India is one of the fastest growing markets globally and has the third highest number of millionaires. He said that the value of the Indian luxury car market was $ 1.06 billion in the year 2021 and it is expected to reach $ 1.54 billion by 2027. Aggarwal said, ‘This growth is driven by the evolution of customer interests and preferences. The vehicle segment is witnessing substantial expansion with the increasing demand for luxury cars with advanced technology and safety features.