Luxury cars

Luxury cars enter the growth lane

Even as many were abandoning the luxury market, given the uncertainties the pandemic has brought, premium cars have inexplicably seen a rise. Sector professionals who have done well have upgraded their vehicles to luxury vehicles in 2021.

“We had healthy demand in June – with our new products as well as the market picking up. It will not be our best year, but we must not forget the supply constraints due to chip shortages,” said Martin Schwenk, Managing Director and CEO of Mercedes-Benz India.

The market leader in India had sold 8,958 units in the September quarter of this year.

Balbir Singh Dhillon, head of Audi India, says the luxury car market is showing signs of recovery as the industry emerges from a recession.

“Audi continues to attract minds, which has translated into growth of more than 100% since the start of 2021. We expect this growth to continue.”

Dhillon says that in 2022 they will be bullish on the products. “One of our key launches will be the SUV, the Audi Q7, followed by a strategic mix of our volume and premium models. The market for luxury cars, especially electric vehicles, is showing encouraging signs. and the pace will pick up,” he said.

BMW Group India has not been left behind either. From refreshed model launches – like the new X5 xDriveSportX Plus to the BMW Individual 740Li M Sport Edition – the company has offered customers something new.

Its first BMW electric all-wheel-drive vehicle, the iX, is already sold out thanks to online reservations. Deliveries will begin in early April 2022. BMW will launch two more electric vehicles over the next two months: the electric mini and the electric i4 sedan.

Significantly, in 2021, despite some delays due to local shutdowns, automakers kept their product lines moving with a slew of new additions. Vikram Pawah, President of BMW, says: “Currently we have 80 touchpoints and we will add 12 more over the next 12 months.

Porsche India is also expanding its national dealer network. “Our customers helped us bounce back in the first half. Demand is high as evidenced by strong sales across the country and most recently with a 96% gain in the third quarter over our 2019 sales. This result also shows a 24% increase over our best previous third quarter, recorded in 2014,” says Manolito Vujicic, Porsche Brand Director.

Analysts estimate that the luxury car market could end 2021 with sales of 24,500 units, which is better than 2020 figures of around 18,000 units.

However, as one Delhi-based analyst points out, “In terms of numbers, we are going back 10 years because in 2011 we had the same sales numbers of around 24,500 units. At that time, there were fewer makes and models compared to the past five years. »