Sales of luxury car in India soared to a new high in the July-September period, with Mercedes Benz, BMW and Audi making it the best quarterly sales in last three years. The rise in demand for luxury cars in India is a positive indication of the economy coming out out of the pandemic.
Mercedes-Benz, whose starting price of some of the cars is about Rs 4 million, said it sold 4,101 in India in the quarter ended September, double its tally for the same period last year. Currently, a global chip shortage has hampered the supply of new vehicles. While the sale of luxury car is soaring, Maruti Suzuki one of India’s largest carmaker, has reported a drop for the month, selling only 63,000 passenger vehicles domestically, down from 148,000 last year. Many foreign carmakers have foundered in India. Last month Ford announced it would stop manufacturing cars there and shut down its local plants.
Mercedes has launched many new models in the country in 2021, including the Maybach GLS SUV, which costs more than Rs 24 million. According to the reports, Gurpratap Boparai, managing director of Skoda Auto Volkswagen India who also has franchises of Porsche, Lamborghini and Audi said, “On the luxury segment, we are bullish now. He thought that sales of Skoda and Volkswagen might take longer to recover. But high-end car buyers were less price-sensitive, industry figures revealed. Imported luxury cars already attract duties of 100 per cent, putting them out of reach to all but the richest in India. Boparai said the growth of the market pointed to the rise of more self-confident business elite that was more willing to indulge in luxury brands”.