Auto manufacturers have decided to import completely built units only against confirmed orders. Honda, Toyota, Mercedes, BMW are the leading players in the luxury car segment and the slack in the market has hit them hard. There are not many takers for the imported cars that attract hefty import duty that makes them pricier than their competitive models in the segment.
Customers wishing to own an imported car will have to now wait for at least three months before the car is delivered to them. Nearly every imported model from all luxury car makers in India has a delivery lag time of minimum three months right now. This includes Honda’s CRV, Mitsubishi Montero, Toyota Land Cruiser and Prado, BMW X6 and 7-series saloon, Mercedes Benz SL-Class and SKL-class.
“The changes in currencies have worked against imports. It led to an increase of almost Rs 3 lakh in the price of a CR-V forcing us to change our policy and to bring cars for a few guaranteed bookings,” said Masahiro Takedagawa , president and chief executive of Honda Siel Cars India.
Apart from the poor sales, fluctuations in currency have also been one of the main reasons for the luxury car makers to change their policy on imported cars.