Luxury car makers set to cross 50,000 sales mark
Despite slower growth in 2024, the Indian luxury passenger vehicle market is set to cross the 50,000-units sales mark for the first time. The segment has been growing for the last three calendar years on the back of robust demand.
“We are anticipating good sales, however, the growth would be lower than last year. The industry grew by 27 per cent in 2023 and touched 48,500 units. Despite the growth tapering off on the back of record-breaking sales in 2023, we are confident that industry will exceed 50,000 cars in 2024,” Balbir Singh Dhillon, Head of Audi India, said.
The first six months of 2024 have been impressive for the luxury vehicle makers. Mercedes-Benz posted a nine percent growth in sales for the first half (H1) of 2024. It sold 9,262 units, the highest-ever during this period, compared to 8,528 units in the same period in 2023.
Similarly, BMW Group India registered a 21 per cent increase in sales, delivering 7,098 cars (both BMW and Mini). Audi India faced challenges due to supply chain disruptions, yet managed to retail 2,477 units during H1 of 2024.
