Luxury Car Market

Bullish on Indian market potential for super luxury cars: Aston Martin

British super luxury carmaker Aston Martin is bullish on the Indian market and is looking to expand its footprint to tap the growing demand which is coming even from Tier II and III cities, according to a company official. The company, which on Thursday launched its all-new Vantage model in India priced at Rs 3.99 crore, plans to continue to bring models to the country simultaneously with the global launch. "India is a very important and a promising market and hence you would see that they (Aston Martin) are launching all the models which are available globally in India as well," Aston Martin New Delhi Vice President - Operations, Anand told PTI here on the sidelines of the launch. Aston Martin New Delhi is the official importer of Aston Martin cars to India. "Next week, on September 2, we are launching (globally) our V12 flagship, which is going to be under wraps on what it is going to be called... And for the first time, that car will also be available immediately for the Indian

Luxury car brands expand footprint as demand from Tier II-III cities rise

The decision to expand into South India is a strategic move, driven by the region's rapid growth in the sports car segment, with Bangalore alone witnessing a 35 per cent increase

Under pressure in China, Mercedes-Benz trims 2024 car profit outlook

The company said it now expected an adjusted return on sales in the range of 10-11 per cent this year, down from its previous target range of 10-12 per cent

Expect sales to grow faster than industry this fiscal: JLR India official

Tata Motors owned Jaguar Land Rover expects to grow faster than the luxury car segment this fiscal, as it bolsters localisation and expands product range, according to a top company executive. The company, which is set to commence local assembly of Range Rover and Range Rover Sport in India, witnessed a sales growth of 81 per cent in 2023-24 fiscal year at 4,436 units, as compared to FY23. The automaker aims to double its business in India over the next three years. "The luxury car segment grew in the range of 20-25 per cent last fiscal. We expect that the growth rate will remain in this range for the next couple of years. And we anticipate to beat this growth rate," Jaguar Land Rover (JLR) Managing Director Rajan Amba told PTI in an interaction. Initiatives like enhanced localisation of products, which would lead to reduction in prices and expansion of sales network in the country would help the company in growing faster than the industry, he added. Citing reports, Amba noted tha

Audi India to hike prices by 2% starting June 2024 amid rising input costs

The recent financial year witnessed Audi India retail 7,027 units, marking an overall growth of 33 per cent

Expect India to be in our top 3 markets in 3 years, says Mercedes-Benz

The luxury car market in India could exceed 100,000 annual sales by 2030, says Region Overseas Head Sagree Sardien

Bullish on India; luxury car penetration expected to remain low: Audi

German auto maker Audi is bullish on India but believes that till the time high taxes rationalise to a lower level, penetration of luxury cars in the country will continue to remain low compared to South East Asian countries, according to a senior company official. Audi expects growth of the luxury car market in India to moderate to low double digits in 2024 compared to around 25 per cent in 2023. "The overall car industry is growing, as well as the luxury segment is growing. Last year was one of the biggest numbers that the industry could achieve, which is also in line with the overall growth of the country," Audi India Head Balbir Singh Dhillon told PTI. He further said, "(India's) GDP is growing, all the parameters that you see for the growth of automotive industry is showing an upward direction. So we believe we are in the right space at a good time and it's time for India and we will continue to grow as well." Dhillon was responding to a query on how Audi is looking at India a

Porsche India posts record best retail sales at 914 units in 2023

Luxury sports car maker Porsche India on Tuesday reported its best retail sales with 914 units in 2023, a growth of 17 per cent over the previous year. The company also fulfilled its commitment of an electric future by recording the highest number of 113 Taycan deliveries to date, Porsche India said in a statement. Besides, a record 65 units of the iconic 911 model were delivered in the same period, it added. Porsche India Brand Director, Manolito Vujicic said,"2023 was another strong year for Porsche India where sales of every model played a significant factor in our encouraging result." He further said it sets a good benchmark for 2024 which will see several new products being launched, as well as further expansion to the retail network. New showrooms will be opened in Pune and Hyderabad in the first half of the year as part of a continuing network expansion, the company added.

Lotus Cars launches electric SUV Eletre starting at Rs 2.55 cr in India

Lotus Cars, British manufacturer of high-performance sports cars, has entered the Indian market with the launch of three models of its electric SUV, Eletre, starting at Rs 2.55 crore. The company -- owned by Chinese brand Geely -- on Thursday launched three variants of its Eletre electric Sports Utility Vehicle (SUV) here -- Lotus Eletre, Eletre S and Eletre R, priced at Rs 2.55 crore, Rs 2.75 crore and Rs 2.99 crore, respectively (all ex-showroom pan-India). The company has selected Exclusive Motors as the authorised representative for Lotus Cars across India, which will open its first showroom in Delhi in the coming months. "This is the right time for entering the India market," said Dominic Baumgart, Head of Aftersales, Asia Pacific, Middle East, Africa, and India, Lotus Cars. Satya Bagla, Managing Director, Exclusive Motors India, said, "There is a lot of support from the Government of India, in the electrification programme and charging infra are created in a very fast manner.

Aston Martin to double its volume with new South India dealership

Aston Martin's decision to expand its footprint in South India reflects a strategic choice, due to the region's growth in the sports car segment

BMW posts record car sales at 9,580 units in India in Jan-Sep period

German luxury vehicle maker BMW Group on Friday reported a 10 per cent rise in total car sales at 9,580 units in India in the first nine months of 2023, driving towards another record sales in the year. The group's three brands -- BMW, MINI and BMW Motorrad (two-wheeler) recorded the best-ever January-September period sales in the country, BMW Group India said. The BMW brand clocked 8,998 units in the first nine months of the year, up 10 per cent from the year-ago period, while the MINI brand posted 582 units, also at a growth of 10 per cent. The group's premium motorcycle brand BMW Motorrad registered sales of 6,778 units in the January-September period, rising 26 per cent from the same period a year ago. "After the first half results, which was the best ever first half in our history, quarter three has been even more promising because we knew that we did all the launches in the first quarter of 2023 and all the suppliers ramp up started from the second half of this year...we have

Luxury car market poised for record sales in 2023 after stellar H1 numbers

Indian luxury car segment is driving towards an all-time high sales this year with the big three, Mercedes-Benz, BMW and Audi, posting record numbers in the first half of 2023. In the January-June period this year, German luxury carmaker Mercedes-Benz posted its best-ever half-yearly sales in India at 8,528 units, a growth of 13 per cent over 7,573 units in the year-ago period. Similarly, compatriot BMW Group also posted record sales of 5,867 units of luxury cars across its BMW and MINI brands during the period, its best half-yearly sales in India. Another German luxury carmaker, Audi, posted a 97 per cent jump in retail sales in India at 3,474 units in the first half of 2023 as compared to 1,765 units in the January to June period in 2022. "Our estimate is that in the first six months (of the year) about 21,000 cars have been sold in the luxury space and normally H2 (second half) is better than H1. So, our estimate is that the whole luxury cars segment should be close to about ...

Luxury car sales up 38% YoY in June, more growth than overall vehicle sales

Going by the current trend, luxury car sales will cross the 40,000 mark taking over the pre-pandemic peak achieved in 2018

Lamborghini India expects luxury supercar sector to see double-digit growth

Automobile Lamborghini is expecting luxury supercar segment to see double-digit growth in India this year, driven by improving infrastructure, rising population of ultra high net worth individuals and other factors, its country head Sharad Agarwal said on Thursday. He also said that Lamborghini India has started 2023 on a positive note with a strong order book, with most of its models having a waiting period of 18 months throughout 2024. The Italian super sports luxury carmaker on Thursday rolled out its second model of Urus SUV lineup, Urus S with a price tag of Rs 4.18 crore in the domestic market. Lamborghini began its India operations in 2007. Last year, it sold 92 units in India, a growth of 33 per cent over 69 units in 2021. Apart from the newly launched Urus S, Lamborghini sells three more models -- premium SUV Urus and two super sports cars Huracan Tecnica and Aventador in the country, with prices starting upwards of Rs 3 crore. Cars carrying a price tag of Rs 20 million o

Just two months into 2023, Lamborghini crosses its India sales target

Lamborghini has already received orders for 100 cars in India in less than two months

Luxury cars: India's wealthy splurging on personalising wheels of fortune

The minimum waiting period for owning a prized set of wheels has stretched to 18 months, and buyers are loosening their purse strings further to get these rides customised to reflect their personality

BMW expects sales momentum to continue next year; lines up 8 new launches

With 2022 turning out to be the best ever year in terms of sales, luxury carmaker BMW India expects volume to remain robust in 2023 as well as it looks to drive in multiple products, including electric sedan i7. The carmaker, which sells products under BMW and Mini brands in the car segment and bikes under BMW Motorrad, is all set to introduce eight products over the next eight weeks in the country. "For us, we believe it (sales momentum) will carry on for sure. We got fantastic products coming next year as well. We are starting with eight big launches with three being super big products, so I am very confident. We will grow in a very strong way in 2023 as well," BMW Group India President Vikram Pawah told PTI in an interaction. He was replying to a query whether the company would be able to maintain sales growth next year as well. Pawah noted that the domestic car market is witnessing a positive phase and is expected to carry forward to 2023 as well. "People are looking at buying

Mercedes-Benz slashes China EV prices by up to $33,000 as sales lag

The luxury automaker said in a statement on its website late Tuesday that it was reducing prices on certain models from its EQ range, effective Wednesday, and that it would provide subsidies

BMW India turns the corner, reports profit in FY22 due to high demand

The company posted its highest-ever revenue in India in FY22 at Rs 4,365.8 crore

Mercedes Benz to roll out EQS 580 from Sept 30; here's what to expect

EQS 580 will be offered with a dual-motor set-up, one on each axle. It develops 516 bhp and 856 Nm of peak torque and is paired with a 4Matic all-wheel-drive system.