Unaffected by the ongoing slowdown in the Indian auto market, the luxury car segment in the country is expected to complete the year with a heavy growth of 45 to 50 percent. Showing no signs of slowdown, all major luxury car sellers in the Indian market have been registering continuous rise in sales throughout the year, so far. In comparison, the overall passenger car segment surged moderately at mere 6 percent.
The top three luxury car makers in the country including BMW, Mercedes Benz and Audi, are expected to register a sales of 22,000 units in total, considerably higher as compared to the sales figures of last year at 15,000-16,000 units.
While commenting on the current high growth scenario, T&T Motors’ managing director, Vidur Talwar, said, " "The overall luxury market growth dominated by the big three - BMW, Mercedes Benz and Audi - should be in the region of around 50% this year." He added, "Since 75% of luxury cars are now financed, increasing interest rates have hit demand. Also, most luxury car buyers are also real estate buyers and that's where the interest pinch hurts more. The rupee depreciation has also pinched." and the overall sentiment is not as buoyant as last year. All of that has added up."
Out of these three luxury car makers, the Audi India has managed to grow at fastest pace in the luxury car segment, with sales growth of 83 percent at 5,117 units during the first eleven months of this year. The company has already surpassed its previously set annual sales target. The company registered a heavy growth of 66 percent at 425 units, during the month of November. Audi aims to become the largest luxury car maker in the country by year 2014.
On the other hand, BMW and Mercedes Benz have registered have managed to registered good sales growth during last 11 months, though both of these car makers were way behind the growth of Audi in India. Mercedes Benz managed to registered a sales jump of 31% during January to November period at 6,698 units, as compared to 5,110 units sold same period last year. The sales of country’s top luxury car maker BMW stood at 8,042 units during this period, registering a sales surge of 70 percent.
Among the other luxury car maker, which are worth mentioning here are Rolls Royce and Jaguar & Land Rover. While JLR has managed to sell 1,300 units (as compared to 900 units in last year) of its luxury cars in India during current year so far, Rolls Royce has clocked the sales of 100 cars, so far in this year.
After strengthening their positions in the major cities, the luxury car makers are now expanding their foot prints in the tier-2 cities.
