Best 2007 luxury cars
Recent numbers indicate the luxury car market in India has grown eight times over the last seven years. An estimated 33, 000 units were sold in India in 2014 – a steep rise from just 4, 000 units sold in 2007.
The industry has stagnated over the past year, with just around four percent growth recorded in 2014, but leading brands like Mercedes-Benz and Audi registered record sales.
Moreover, experts believe that the luxury car sales could cross the 100, 000 mark by 2020.
“We are bullish on the potential of the Indian market and estimate that the luxury car industry volumes in India could cross 100, 000 units by 2020, ” said Eberhard Kern, MD, Mercedes-Benz India.
Joe King, MD, Audi India, on the other hand says that the number of luxury cars sold will “at least double” by the end of this decade.
External factors like the government’s policies make the industry unpredictable, yet India is viewed as a favourable market by the luxury car brands.
Mercedes-Benz India has doubled its production capacity at its Chakan facility in Pune to 20, 000 units, which makes it the luxury brand with the “highest installed capacity in India”. The company has also increased its total investment to INR 10 billion and will launch 15 new models in India in 2015. Mercedes-Benz India grew by 13 percent in 2014 and made 10, 201 sales- its highest ever tally. This enabled it to leapfrog BMW India as the second best selling luxury car brand in the country.
It trails Audi India- which has consolidated itself as the leading premium car brand in the country after selling 10, 851 units in 2014 and is now looking for sustainable long-term growth.
“India is a strategic market for us and the fourth top market in Asia after China, Japan and South Korea, ” Luca de Meo, Audi Global Head of Marketing and Sales, was quoted as saying.
Audi controls 34 percent of the luxury car market in India- which is “among highest for the company globally”. By comparison, in China, where half of the world’s A6’s are sold, Audi controls 32 percent of the luxury car sales.
Incentive financial schemes, heavy discounts and affordable EMI rates have made Audi a popular choice among the Indians. Consumers are craving luxury and Audi provides premium cars at affordable rates. Its recent launch- the Audi A3, is virtually the cheapest luxury car in India.
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Popular Q&A
What is the best luxury cars?
Consumer Reports recently rated the Hyundai Genesis as the top luxury sedan, just beatin out teh Lexus ES350.
