Luxury Car Sales To Reach High Records

Luxury carmakers Mercedes-Benz, Lexus, and Audi are experiencing a surge in sales during the ongoing festive season, with demand remaining strong for high-end cars. The luxury car segment is expected to achieve its highest-ever volumes. 

Mercedes-Benz India’s Managing Director and CEO, Santosh Iyer, expressed optimism about the promising festive season compared to last year, attributing it to a positive start since Onam.

Mercedes-Benz attributes the strong demand to recent launches and buoyant customer sentiment, expecting the growth momentum to continue.

Lexus India’s President, Naveen Soni, also acknowledged the growing luxury car market in India, fueled by an increasing number of high net-worth individuals, millennials, high disposable incomes, and stable economic growth. He mentioned that Lexus has already surpassed its 2022 sales and anticipates a strong momentum during the festive period.

To enhance customer value during this festive season, Lexus has introduced a limited edition of its sports coupe, LC 500h, and opened bookings for the new-generation LM multipurpose vehicle. Audi India’s head, Balbir Singh Dhillon, reported a robust 97% growth in retail sales during the first half of this year, driven by a significant increase in SUV and performance car sales. Dhillon expects this demand and growth to continue during the festive season.

Audi also boasts the widest electric vehicle portfolio in the segment, with recent launches of O8 e-tron and Q8 Sportback e-tron. The company anticipates good demand for its electric range during the festive season. With evolving demographics and favorable economic conditions, Audi is confident about achieving high double-digit growth by the end of the year.

Overall, the luxury car market is witnessing remarkable growth due to strong demand and positive market conditions. It is projected that domestic passenger vehicle sales will surpass the 10 lakh-unit mark during this festive period.