Luxury Car Sales

After Mercedes, BMW India announces price hike of up to 3% from January

Luxury carmaker BMW India on Friday said it will increase prices of its entire model range by up to 3 per cent from January next year. The new prices will be effective from January 1, 2025 onwards, the German automaker said in a statement. The company's range of locally produced cars includes the 2 Series Gran Coupe, 3 Series Long Wheelbase, 5 Series Long Wheelbase, 7 Series Long Wheelbase, X1, X3, X5, X7 and M340i. BMW also sells models like i4, i5, i7, i7 M70, iX1, BMW iX, Z4 M40i, M2 Coupe among others as Completely Built-up Units (CBU). Last week, Mercedes-Benz had announced to hike the prices of its vehicles in India by up to 3 per cent on its entire model range in the portfolio from January 1, 2025, citing a rise in input costs, inflationary pressures and higher operational expenses. Prices of Mercedes-Benz cars in India will get costlier by Rs 2 lakh for the GLC to Rs 9 lakh for the top-end Mercedes-Maybach S 680 luxury limousine.

Mercedes expands BEV range; rolls out 2nd locally produced model in India

Luxury car maker Mercedes-Benz India on Monday expanded its Battery Electric Vehicle (BEV) range in the country with the launch of the locally produced EQS 580 4MATIC. India is the first country outside the US to start the local production of the seven-seater electric SUV. EQS SUV 580 4MATIC is the second model, after the EQS sedan, to be locally produced at company's Pune-based manufacturing plant. "This will be our sixth EV in India, and the second car to be locally produced in India. We are also proud that India becomes the first market out of the US to locally manufacture the EQS," Mercedes-Benz India Managing Director and CEO Santosh Iyer told PTI in an interaction. The move to manufacture the product locally outlines the company's commitment to electrification and increasing product portfolio offering choices to customers, he added. "EQS SUV's localisation underpins our deep commitment to grow the Indian luxury electric car market and reinforce our commitment for a greener a

Luxury car buyers in India speed up shift to EVs, outpacing mass market

Mass-market EV sales dropped 10% year-on-year in August, but the luxury segment is seeing strong demand, with premium carmakers reporting a solid order pipeline

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

EU electric car sales fall in May as German demand slumps, says industry

Overall new car sales in the bloc fell by 3 per cent in May from the same month in 2023, the second drop this year

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

Luxury carmaker Mercedes-Benz India reports best ever retail sales in FY24

German luxury carmaker Mercedes-Benz on Thursday reported its highest-ever retail sales in a financial year in India in 2023-24, driven by strong demand for its SUV range. The company sold 18,123 units last fiscal, a growth of 10 per cent over 16,497 units in the 2022-23 fiscal. "We achieved the best-ever month, highest-ever quarter and best-ever fiscal in India. This trust reflects in the unmatched desirability for Mercedes-Benz in India, resulting in an overwhelming customer response," Mercedes-Benz India MD and CEO Santosh Iyer said in a statement. In the January-March period this year, the automaker sold 5,412 units, an increase of 15 per cent over 4,697 units in the first quarter of last year. The automaker said it plans to introduce nine new models this year in the country, including three new battery electric vehicles (BEVs). The company said it will strengthen its AMG performance range with the launch of the AMG S 63 e-Performance sedan and the AMG C 63 e-Performance in th

Luxury car maker Audi India reports 33% rise in retail sales in FY24

The luxury car market in India is expected to maintain its growth trajectory, aiming to sell more than 50,000 units in 2024

Luxury car sales could breach 50K mark for first time ever: Audi India head

Luxury car sales in India could cross the milestone of 50,000 units for the first time in a year in 2024 amid growing demand for such models, according to Audi India head Balbir Singh Dhillon. The overall domestic luxury car segment grew by 28 per cent annually last year to record sales volume of around 48,500 units. Luxury car volumes in India currently account for less than 2 per cent of the overall passenger vehicle sales annually and the sector has been more or less at the same level for the past decade. "Even if the sales grow by around 10 per cent and we do not face issues like disruptions like issues with global supply chain, we (industry) could cross the 50,000 volume mark in a year for the first time ever in 2024," Dhillon told PTI in an interaction. Audi reported an 89 per cent growth in retail sales in India at 7,931 units last year as compared to a total of 4,187 units in 2022. Similarly, Mercedes-Benz India recorded its best-ever year in its history in India with sale

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

Expect India to be 3rd largest market among 118 countries: Mercedes-Benz

German carmaker Mercedes-Benz expects India to become its third biggest market in its 'Region Overseas' over the next 2-3 years with demand anticipated to remain strong for luxury products, according to a senior company executive. The Region Overseas for Mercedes Benz comprises 118 countries, excluding North America, Europe and China. India is the fifth largest market in the region after Japan, South Korea, Australia and Turkey. The sales gap between India and Turkey is around 8,000 units per year. "Our Region Overseas markets which encompass 118 markets across the world and India happens to be market number five for us. So you can imagine the relevance and importance it serves not only today, but also for the future of the Mercedes Benz brand," Mercedes-Benz AG Head of Region Overseas, Sagree Sardien told reporters here. When asked about the expected timeframe to achieve the target, she stated, "We are convinced that with the way the Indian market is developing, we should see thi

Red Sea crisis disrupts Audi India's supply chain, firm eyes recovery soon

The situation in the Red Sea is creating supply chain issues for German luxury carmaker Audi, impacting car deliveries to customers in India in the first quarter but recovery is expected in the coming months, according to a senior company official. With electrification on its primary agenda, the company is also evaluating the possibility of assembling electric cars in India, Audi India Head Balbir Singh Dhillon told PTI. "We are also challenged from time to time by various factors. Very recently because of the Red Sea situation there is a supply chain constraint that we're facing in the quarter one of 2024. It is challenging for us in the first quarter but we expect to recover in the coming months," he said. Dhillon was responding to a query on outlook and challenges in 2024. Deliveries to customers for certain models at present have been delayed by a few weeks, he noted. Container vessels have been facing attacks in the Red Sea, one of the most important trade routes in the world

BMW eyes India's emerging electric car mkt with focus on affluent consumers

BMW, which introduced battery-powered vehicles in India last year, currently sells five electrified models, the most among all carmakers

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.

'Average age of customers opting to buy Rolls-Royce cars is mid-40s'

High net worth individuals in their mid-40s were the majority of customers opting to purchase the British luxury automobile maker Rolls-Royce's range of cars in India, a company official said. Rolls-Royce Motor Cars on Tuesday launched its latest all-electric - Spectre - priced at a whopping Rs 10 crore (ex-showroom), here. A 'Chartreuse' (greenish-yellow) colour variant of the Spectre rolled out of the podium at an event marking the formal launch of the brand in the South Indian market showcased for aspiring customers and dealers. Rolls-Royce Motor Cars Ltd, Product, and Regional Sales Manager, Ivan Kang said the average age of customers opting to buy Rolls-Royce cars has been coming down with the average age of high net-worth individuals in the mid-40s preferring the Spectre range. Declining to reveal any figures on how many cars have been booked since the global launch in October 2023, he said there has been 'strong demand' for Spectre with a waiting period of the cars for deliv

Lamborghini topped 10,000 sales last year for first time: CEO Winkelmann

The carmaker, a subsidiary of Germany's Volkswagen , delivered a total of 10,112 sports cars and SUVs last year, up from over 9,200 vehicles in 2022, a slide attached to Winkelmann's post showed

Luxury carmaker Volvo hikes combustion engine vehicle prices by 2%

Volvo Car India on Monday said it has increased prices of its conventional engine vehicles by 2 per cent but has kept the prices of its electric vehicles unchanged. Following the price hike of internal combustion engine (ICE) vehicles, the XC60 is now priced at Rs 68.9 lakh, the S90 at Rs 68.25 lakh and the XC90 at Rs 1,00,89,000, Volvo Car India said in a statement. Prices of EV offerings, XC40 Recharge and C40 Recharge remain unchanged at Rs 57.9 lakh and Rs 62.95 lakh respectively, it added. "We are focused on sustainable luxury e-mobility and have committed that we will be an all-electric company by 2030. We encourage the adoption of EVs and as part of this endeavour have decided that as of now we will hold the prices of our EVs despite rising forex and input costs," Volvo Car India Managing Director Jyoti Malhotra said. He, however, said that industry dynamics may compel the company to revise the EV prices at a later date.

BMW India posts record sales of luxury cars, motorcycle at 22,940 units

German automotive group BMW on Thursday reported record sales of its luxury cars and motorcycles in India at 22,940 units in 2023. The automaker sold a total of 14,172 units across BMW and MINI brands last year. It also retailed 8,768 units of motorcycle (BMW Motorrad) in 2023. The company's sales rose by 19 per cent last year as compared to 19,263 units in 2022. "2023 has been a record-breaking milestone year for BMW Group India. All three brands 'BMW, MINI and BMW Motorrad' have delivered their highest-ever sales," BMW Group India President Vikram Pawah told reporters here. He noted that the company has successfully retained its leadership in the electric luxury car segment for the second consecutive year. "We continue to set the pace in the Indian electric luxury vehicle market with the most diverse and innovative product range, designed to cater to diverse customer needs," Pahwa said. The BMW iX is the highest-selling luxury electric vehicle in India, he stated. On the sales

Jaguar Land Rover Oct-Dec quarter wholesales up 27% at 101,043 units

Tata Motors-owned Jaguar Land Rover on Monday reported a 27 per cent rise in total wholesales at 1,01,043 units in the third quarter ended December 31, 2023, as compared to the year-ago period. Jaguar Land Rover (JLR) delivered the highest wholesales in 11 quarters during the period, a statement by JLR shared on BSE by Tata Motors said. Year-to-date wholesales for FY24 were 2,91,113 units, up 28 per cent year-on-year, it added. The order book continues to reflect strong demand for JLR products with 1.48 lakh client orders at the end of the third quarter. This has reduced from 1.68 lakh at the end of the second quarter, reflecting increased order fulfilment to clients and resulting in improved client waiting times for the vehicles, JLR said. Demand for Range Rover, Range Rover Sport and Defender remains particularly strong, representing 76 per cent of the order book, it added.