Sales Of Luxury Cars Like Audi, BMW, Mercedes Expected To Soar This Festive Season Amidst High Demand

Santosh Iyer, MD and CEO, Mercedes-Benz India, noted that the luxury car sector is anticipated to clock its best performance ever this year backed by strong sales in the festive season

However, this growth will not be distributed evenly across players in the luxury car industry.

Source : BMW

Luxury automakers such as Mercedes-Benz, BMW, and Audi are expecting sales to be strong during the festive season this year as demand for high-end cars in India keeps growing. Santosh Iyer, MD and CEO, Mercedes-Benz India, noted that the luxury car sector is anticipated to clock its best performance ever this year backed by strong sales in the festive season.

Speaking to PTI, the executive said, “The festive season generally gives high double-digit sales growth, helping the automaker to average out single-digit growth of the earlier quarter. So in that sense, on an average, then we are able to get a double-digit growth during the festive season.”

Talking about the luxury car industry that accounts for less than 2 per cent of the overall passenger vehicle market in India, Iyer noted that the sector is set to witness record volumes in the current fiscal year, however, this growth will not be distributed evenly across players.

“Some (companies) are even degrowing, some are flat and they are facing headwinds, but because we are the primary player in the market, we still feel the luxury car market should cross 50,000-51,000 cars this year,” he added.

Elaborating on demand, Balbir Singh Dhillon, Audi India Head, noted, “Demand in the last few months has grown steadily and the company expects this to continue in the period ahead. We are working relentlessly with our HQ to get additional allocations for India, to fulfil this growing demand. Having said that, one cannot disregard the fact that the waiting period for Audi cars has gone up owing to demand and supply mismatch. It is also important to mention that the prevailing Global challenges are not only impacting the adequate supply of new cars, but also instilling pressure on the prices.”