Luxury Carmakers Mercedes-Benz, Audi, and BMW saw robust sales during this festive period. This year, the demand for premium cars is rising in India. When asked if the luxury segment is seeing its best-ever performance. The festive season is the biggest contributor to overall performance. Mercedes-Benz India MD and CEO Santosh Iyer said it is indeed poised for the best ever so far.
He said that generally the festive season gives very high double-digit sales growth which helps average out the single-digit growth of the earlier quarter.
“So in that sense, on an average, then we are able to get a double-digit growth during the festive season,” Iyer stated.
Elaborating on the overall industry, which still remains a very small part of the overall passenger vehicle market in the country, Mr Khattar said the segment is headed for a record volumes this fiscal but not all players are witnessing growth.
“Some are even regrowing, some are flat, and they are facing headwinds. But because we are the primary player in the market. We still feel the luxury carmakers market should cross 50,000-51,000 cars this year,’ Iyer said.
The luxury car market in India currently remains very small accounting for less than 2 per cent of the overall passenger vehicle market in the country.
Audi India Head Balbir Singh Dhillon said the demand in the last few months has grown steadily and the company expects this to continue in the period ahead.
”We are working relentlessly with our HQ to get additional allocations for India to fulfil this growing demand,” he stated.
However, one cannot ignore the fact that there is a waiting period for Audi cars. Has gone up because of the mismatch between demand and supply, said Dhillon.
“Going by the current global challenges. It is not only the inadequate new car supply that is getting affected. But the pressure it is creating on the price as well,” stated Dhillon.
With the festive season fast approaching. Audi will clock significant growth based on continuing demand models such as A4, A6, Q5, Q7 and Q8. According to Vikram Pawah, head of BMW Group in India. The fundamentals of the Indian economy are robust, and consumer confidence in the luxury segment is also rising.
“For BMW Group India, the order bank is solid. And we are trying our best to speed up deliveries for our customers. With additional bookings around Diwali and Dussehra. We are confident of closing the year on a high note while clocking impressive growth,” he stated.
He said that the group is witnessing very strong demand for the products across all the segments.
In the run-up to the festive season. The company had brought out quite a few special editions of its existing model range, said Pawah. Onam is what marks the beginning of the festival season and Diwali marks its end every year.
FAQs:
1. How were the sales of Mercedes-Benz, Audi, and BMW in the festive season?
The sales were good for the luxury car majors as demand for premium cars in India is increasing.
2. What has Mercedes-Benz India stated about this year’s market for luxury cars?
Markets, it looks like the best-ever so far, said Mercedes-Benz India MD Santosh Iyer.
3. How does the festive season impact sales for Luxury Carmakers?
The festive season commonly tends to witness high double-digit sales growth, which tends to average lower growth numbers witnessed during the previous quarters.
4. What luxury car sales numbers are expected to be in India this year?
India’s luxury car market is likely to breach 50,000-51,000 cars this year.
5. What does Audi think about the ever-growing demand for its cars in India?
Audi India head Balbir Singh Dhillon said there is steady growth of demand and he would like to add more car allocations to meet that demand.
6. Why is there a waiting period for Audi cars in India?
The waiting period has gone up because the demand is so high, driven by what is happening at a global level, yet the supply is not up to the requirement.
7. Which models contribute to Audi’s growth during the festive seasons?
Major segments which would be in high demand for Audi during the festive season include A4, A6, Q5, Q7, and Q8.
8. What does BMW India have to say about luxury consumer confidence?
BMW India Head Vikram Pawah said consumer confidence is on the uptick and that the brand is witnessing high demand across all segments.
9. How would the company capitalize on these demands during the festive season?
BMW has been releasing special editions of existing models and picking up the pace of delivery mainly during Diwali and Dussehra.
10. Which percentage of the total passenger vehicle market in India occupies luxury carmakers?
The luxury car market share currently stands at less than 2% in the overall passenger vehicle market.
Be First to Comment