Luxury car sales back in 2007 has reportedly stood at about 4,000 units whereas in 2014 the numbers stood at about 33,000 units which indeed shows more than 8 times rise. Luxury car experts however expect that the numbers are likely to rise to about 1,00,000 units sometime by 2020. Much like other strong markets including Mexico, Brazil and Russia, the Indian market has also shows a strong growth. German carmakers Mercedes Benz and Audi have been two such luxury brands that have been a major contributor to this accomplishment.
Speaking more on the occasion, Eberhard Kern, MD, Mercedes Benz India: "We are bullish on the potential of the Indian market and estimate that the current luxury car industry volumes in India could cross 100,000 units by 2020." Audi India's MD Joe King strongly believes that the luxury car segment in India shall likely double by 2020. King said, “The market has grown eight times in the last seven years. Typically, the premium segment displays a better dynamic than volume segment in many BRIC markets including India.”
Adding to it, Philipp von Sahr, president, BMW Group India said, "Along with the metropolitan centres, we foresee growth potential among the young achievers, predominantly from tier 1 and tier 2 cities, which have a dynamic attitude and are technology savvy." Luca de Meo, Audi's global head of marketing and sales said, “India is a strategic market for Audi and the fourth top market in Asia after China, Japan and South Korea. We have a 34% share of the Indian market which is among the highest for us globally.”
Source: TOI
