Pune:Automakers, including the luxury car makers such as Mercedes Benz, BMW, Audi, Jaguar Land Rover, Lexus and Volvo are expecting robust sales in the forthcoming festive season which account for nearly 20-25 per cent of the annual sales.
The festive season generally commences with Onam and ends with Diwali which are considered auspicious for impressive car sales growth every year.
The Federation of Automobile Dealers Associations said the festive season and improved rural demand present promising opportunities for automobile growth.
“The luxury car market is all set for growth this year touching over 50,000 units this year,” Santosh Iyer, MD and CEO at Pune-based Mercedes-Benz India told Financial Chronicle in an interaction.
He noted that Mercedes would have “double-digit growth in 2024” on the back of a positive number of inquiries for the festive and marriage season. He also pointed out that the festive season generally gives high double-digit sales growth.
Iyer said the sales of the Mercedes top-end cars costing over Rs 1 crore and the all-electric vehicles were selling briskly in the Indian market. “For example, sales of EQS sedans have picked up rapidly. In the last 18 months, we sold over 546 units which is one car per day,” he explained. The Mercedes EQS sedan costs about Rs 1.8 crore to Rs 1.9 crore on road price.
The German automaker last week also introduced the locally manufactured EQS SUV 580 priced at Rs 1.41 crore. India is the first market outside of the USA to locally manufacture the EQS SUV 580, Iyer noted, pointing out the growing appetite of the Indian market for luxury cars.
Compatriot archrival BMW also said the Indian luxury car market, accounting for about 1 per cent of the overall passenger vehicle market, was growing with the rich and famous and successful business men and women, especially youngsters rewarding themselves with luxury cars for their entrepreneurial success.
“We have a strong book order and we are speeding up deliveries as fast as we can,” said Vikram Pawah, President at BMW Group India, confident of closing the year with strong growth.
BMW said it was registering very strong demand for its cars and luxury bikes across all segments.
Audi India too anticipates luxury car sales to rise during the festive season. The German automaker said its best-selling models such as the A4, A6, Q3, Q3 Sportback, Q5, Q7, and the newly launched Q8 continue to drive robust demand.
