Super luxury cars continue to sell well in India as the elite class in the country remains unaffected by economic slowdown
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Indian auto market reported slowest growth ever in the first five months of 2012 in last two years, coupled with rising fuel prices. The much affected section in the industry was Rs. 20-30 lacs segment. On the other hand, the members of the multi-millionaire club in the country seems to be unaffected by these factors and still desire to own a car that will cost them above Rs. 1.5 crore. This is the reason why the top-of-the-line models from car makers like Rolls-Royce, Lamborghini, Ferrari, Bugatti, Maserati and Porsche continue to bring in decent volumes for their respective manufacturers in the country.
Economic turbulence has failed to leave a dent in the pocket of those who are born with a silver spoon. As per the estimate by dealers and officials of luxury car makers, in 2011, Indians bought 98-100 super luxury cars on an average, which is speculated to grow by 50 per cent by the end of 2012. The major drive behind the massive boost will be the new launches by the auto makers in the country. In 2011, eight such cars were introduced in the Indian automotive market, which banked on the demand for super luxury cars in the country.
Recently, Aston Martin launched its Vanquish model in the country on August 1, 2012 with a tag of Rs. 3.85 crore. The brand has sold around 40 cars since its inception in India some 18 months ago. It is expected that the new model will contribute around 30 per cent of the total sales for British car marque by the end of 2012. Lamborghini also offers Aventador, costing Rs. 4.2 crore and Gallardo priced at Rs. 2.5 crore, in India. The brand has sold 14 cars last year and plans to sell 18-20 units more in 2012.
During the prime time of recession in 2010, Rolls Royce, the luxury car brand, recorded a ground breaking sales growth of 150 per cent globally. The sales of auto maker were mainly driven by its iconic model Ghost, which at that time cost around £165,000. Another contributor to the sales volume was Phantom model that had a whooping cost of £235,000 at that time. On the other hand, despite of decent sales in 2010, Rolls Royce garnered highest sales in 2011 with 3,538 deliveries across the world. The impressive sales of auto giant enabled it to record a massive increase of 31 per cent against the units sold in 2010. The sales volume of the company was so fabulous that in it beats the record of its last 107 years of offering ultra-luxurious models.
It is believed that the sales of the super cars are boosted by the youth of the ultra-rich families, who are under the tremendous pressure to exhibit their social standing among their peers. The status of these families is enjoyed by car makers like Rolls Royce, Lamborghini and Aston Martin, among others.
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