Far too often, you spot an uber-cool, sleek-bodied beauty, which turns every head in its direction, even while you are waiting irritatedly at the hem of traffic in Kochi. Even as you sigh, these beauties have a magnificent power like a timeless classic. Wondering what? More than ever, the number of premium model luxury cars has increased in our land.
Undeniably, Kerala’s growing fascination for premium cars is a question to be pondered. So, is it mere availability and affordability or a status symbol, which is prompting us to hurl money without hurt?
Probably Malayalis have found more diverse investment strategies in the light of Kochi emerging as the strongest market for premium and upper premium cars, such as BMW, Audi, Mercedes, Jaguar Land Rover and Range Rover.
“Our state is contributing five per cent overall to the car market. Around 1,800 premium cars are being sold per year in Kerala alone in a year,” says J. Balakrishnan, Sr. General Manager of Muthoot Motors, JLR Division.
But, the rise in numbers contradicts the poor condition of roads in the major cities. “In our roads, we can't drive in a speed more than 80km/hour. So, these cars are more a status symbol,” he adds.
Although, status is a crucial part, most owners look more into the investment. The owners of these cars also love driving. Prof. Pramod P. Thevannoor, Vice Chairman of SCMS Group, who owns a Jaguar Range Rover, enjoys driving even during his busy schedule.
“Most dealers of premium cars have started setting up their showrooms here, and thus the availability has increased. We have better finance schemes and we take the best bet if we can afford it,” he says. Pramod, however, agrees the roads are the biggest challenge, and parking also becomes a concern in the city.
Ravi John, CEO of Digital Mesh, bought an Audi A8 a year back, impressed by the comfort and performance. “Different models are available now, and proactive car maintenance strategies are offered to us. If we have a supportive dealer, this gives us more confidence to go for the buy.”
Mohammed Anaz, Territory manager, Muthoot JLR, says, “Fear of excessive spending on maintenance and service is what kept people from not buying. This has changed. The complimentary packages given by most dealers have taken off the veil. People also started giving importance to comfort, even as they are becoming brand conscious. Another important aspect is the safety. Our work expects us to travel long distances and it is important we have to look into the safety aspect. These cars, along with comfort, give us security as well.”
Jacob Joy, Director of J.J Confectionary, cites upfront payment of service charges at the time of buying as the crucial factor before buying his Audi A8.
Peter K Chacko, M D of Pete’s Automotive Products, however, doesn’t agree that there is a steep rise in the possession of luxury cars. “This rise is not amongst common car users. Business people possess it as part of their strategies as well. Over time, this might change.”
Another trend that is seen is the rise in the luxury car rentals, especially for weddings. Some of them have bought the deals as more people are demanding luxury cars for their special events. Roby, who is in the business for the past five years, says, “This is a profit-driven industry. Many people approach us to rent cars such as Audi and BMW for weddings, and it is important we have it.”
By all indications, our roads will see luxury cars rubbing bumpers with ordiray ones.
