The Indian luxury car market is poised for growth, with expectations of a strong performance during the upcoming festive season. Luxury car manufacturers are banking on the festive period to drive sales and overcome any residual impact of global challenges. Industry analysts forecast that between 10,000 and 12,000 luxury vehicles will be sold during the festive season this year. Santosh Iyer, Managing Director of Mercedes-Benz India, highlighted the impact of global instability on domestic demand earlier in the year but expressed confidence in the festive season’s ability to revitalize sales. He pointed out that consumer behavior in the luxury segment is primarily influenced by sentiment and the recent cut in the RBI’s repo rate. Mercedes-Benz India has a backlog of 1,500 orders, especially for high-end models. Sales of top-end vehicles are rising at 15-20%. The company saw a 10% growth in the last quarter, with 4,238 cars sold, whereas the overall luxury car sales in the domestic market saw a rise of 5-8%.
Indian Luxury Car Market Anticipates Growth as Festive Season Approaches
By The Chhattisgarh1 Min Read