Page 2 - Luxury Carmakers

Driving the change: Luxury car buyer is getting younger in India

Around 59 per cent of BMW buyers (in the luxury class) are aged between 31 and 45 years, and 35 per cent of its buyers are existing customers

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

Rolling in luxury: Top-end carmakers spin wheels of bespoke experience

From drifting and slaloming on sheets of ice to bending laws of motorsport physics, auto majors curate thrills beyond the road

Audi India reports 88% growth in sale, beats 2022 sales in first 9 months

The third quarter (July-September) was particularly strong for the company, contributing 37 per cent of the total sales for the year

Mercedes on track to continue record sales in 2023 amid surging demand

German luxury carmaker Mercedes-Benz expects 2023 to turn out to be its best year in terms of sales in India as the demand for high-end cars continues to grow post the Covid pandemic, according to a top company official. The carmaker, which sold 15,822 units in the Indian market in 2022, its highest ever in the country so far, anticipates the overall luxury car segment to post its best ever performance this calendar year. In an interaction with PTI, Mercedes-Benz India MD and CEO Santosh Iyer said the company reported a 13 per cent year-on-year growth in its sales at 8,528 units in India in the first half of 2023, its best-ever half-yearly sales in the country. "We are now coming into the third quarter of this year, and we feel the trend should continue which should mean that we should be able to end this year on a record high once again," he noted. Iyer said the company expects double digit sales growth this year even as multiple challenges exist in the market. "There is a lot of

Carmakers Mercedes, Lexus, Audi expect bumper sales in festive period

Luxury carmakers Mercedes-Benz, Lexus and Audi expect sales momentum to continue in the ongoing festive season with demand remaining robust for high-end cars. With offtake remaining strong, the festive season push could even see the luxury car segment posting its highest ever volumes in a year in 2023. In an interaction with PTI, Mercedes-Benz India Managing Director and CEO Santosh Iyer noted that the festive season looks very promising as compared with last year. "This year the festive season is spread across four months and we are optimistic as we started on a very positive note, from Onam onwards," he stated. With a strong demand primarily driven by recent launches and buoyant customer sentiment, Mercedes-Benz expects the growth momentum to continue, Iyer said. Lexus India President Naveen Soni said the luxury car market continues to grow in the country. "This year, the demand for high-end cars has brought cheer to the industry. Luxury cars, as a market segment, are growing at

Swedish luxury carmaker Volvo revs up with EVs, eyes record sales in 2023

Earlier, its peak sales was in 2018, when it sold 2,600 cars

Audi India begins bookings for new Q8 e-tron, Q8 Sportback e-tron

German luxury carmaker Audi on Thursday said it has commenced bookings for the new Q8 e-tron and Q8 Sportback e-tron in India. The newest addition to the electric range, the Q8 e-tron and Q8 Sportback e-tron feature a new design language, features, increased battery capacity, driving range and improved driving dynamics. Available in two body types -- SUV and Sportback, the model comes with a range of up to 600kms on a single charge. "We are just a few days away from the launch of the Q8 e-tron and Q8 Sportback e-tron our newest electric vehicles. These cars were launched globally only a few months ago and we could not be more excited to bring these to India within the same global cycle," Audi India Head Balbir Singh Dhillon said in a statement. The company is bringing the very best for customers -- a new design, increased battery capacity, enhanced range that is best-in-segment and a lot more features, he added. The new Q8 e-tron and Q8 Sportback e-tron can be booked with an init

Local assembly of EVs in India just a matter of time: BMW official

German luxury carmaker BMW will locally produce its electric vehicles in India, and it is just a matter of time as the company's vehicles continue to gain traction in the market, according to a senior company official. BMW, which saw 9 per cent of its sales in India coming from EVs in the first half of 2023, expects to reach up to 25 per cent by 2025. "As the volumes grow, as we have done with every other product, we will localise them (EVS), and we will produce them (locally)," BMW Group India President Vikram Pawah told PTI in an interview. The localisation of EVs in India has two aspects, "one is the volume here, and the other one is the technology", he noted. "It is just a matter of time. There has to be some inertia of the volumes and stability. We're seeing good signs now. It's still early days...We have delivered only 500 cars across four models in the first six months, that is still small from that perspective, but it is clearly growing fast," Pawah said. He was responding

Volkswagen's efforts to boost valuation stifled by lack of succession plan

The company plans to run a series of capital market days in coming months for each of its brands, which it hopes will boost a valuation in freefall since mid-2021

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

Mercedes-Benz adds OpenAI's ChatGPT to voice control of its vehicles

Luxury car maker Mercedes-Benz has expanded the use of artificial intelligence (AI) and added OpenAI's ChatGPT into the voice control of its vehicles as the next step

Mercedes-Benz unveils electric SUV EQB 350 in India with some modifications

While the EQB 350 comes with significant performance enhancements, it retains the same 66.5 kWh battery pack similar to its predecessor

BMW launches its 2023 Z4 Roadster at Rs 89.30 lakh for Indian market

BMW will offer the Z4 in its M Performance trim, M40i. The car comes with a standard two-year warranty with unlimited kilometres

Jaguar Land Rover raises EV drive bill to £15 bn to catch up with peers

Jefferies, in a report this month, noted that JLR had been focusing on improving profit and cash flow with an emphasis on selling higher-margin SUVs

Audi sales double in Q1 of calendar year 2023, pre-owned car biz up 50%

Firm said this was the strongest quarter during past six years in India, with SUVs currently contributing over 60% of total sales

Luxury carmakers lean on YOLO impact, gear up for big ride in small towns

Many of these companies are having a waiting period from 6-18 months now, indicating a rise in demand

Mercedes-Benz India sold 15,822 units in 2022; key models drove the growth

According to the company, it has retained its leading position in the luxury car market in India by selling 15,822 units last year, up from 11,242 units sold in 2021

Audi sales rise 27.14% to 4,187 units in 2022 on strong product portfolio

German luxury carmaker Audi on Monday reported a 27.14 per cent rise in its retail sales in India at 4,187 units in 2022. The company sold 3,293 units in 2021. Although the supply chain challenges and semiconductor scarcity still hold back the full potential of growth, Audi India said its performance in 2022 was buoyed by a strong product portfolio, a revival in customer sentiment and strong business continuity. The luxury carmaker also said it has increased the prices of its vehicles by up to 1.7 per cent in most of its models from January 1. Audi India Head Balbir Singh Dhillon said the company's growth in 2022 is higher than the estimated growth of 20-22 per cent of the luxury section in India and the company witnessed sales growth in all the segments it is present. He said the company's performance in 2022 was despite hitting roadblocks posed by global issues like semiconductor availability and shipment challenges. Audi India said its sales uptick in 2022 was propelled by it

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