Sales of these cars may increase this festive season, luxury segment may have a good start

New Delhi : You can see a huge increase in the demand of the luxury car segment in the country. Top manufacturing companies of this segment, brands like Mercedes-Benz, Audi and BMW are expected to see an increase in sales during the festive season this year.

Mercedes-Benz India Managing Director and Chief Executive Officer (CEO) Santosh Iyer told PTI that this year the luxury car segment is set to perform at its best. The festive season sales will play an important role in this. Iyer said that usually the sales growth of automobile companies during the festive season is in two digits. In such a situation, they are helped to recover from the average single digit sales growth of the previous quarter. He said, “In this way, on an average, we are able to achieve double digit growth in the festive season.”

facing the challenges

The share of the luxury car segment in the overall passenger vehicle market in the country is still quite low. Iyer said the segment is poised to register record sales this fiscal, but not all companies are seeing growth. “Some (companies) will have low sales growth, and some will be stable because they are facing challenges. Since we are the main player in the market, we still feel that the luxury car market should cross the 50,000-51,000 unit mark this year,” Iyer said.

will drive strong demand

The luxury car market in India is still very small. Its share in the country's total passenger vehicle market is less than two percent. Audi India head Balbir Singh Dhillon said that the company hopes that the positive trend seen in the luxury car market will continue even during the festive season. He said, “Our best-selling models A6, Q3, Q3 Sportback, Q5, Q7 and the recently launched Q8 will drive this strong demand.”

The fundamentals of the economy are strong

Dhillon said that apart from this, the company is also optimistic about its e-tron series…e-tron GT and RS e-tron GT. Vikram Pawah, President, BMW Group India, said that the fundamentals of the Indian economy are strong and consumer confidence in the luxury segment is increasing. He said, “The order bank for BMW Group India is strong and we are trying our best to expedite deliveries to our customers. With additional bookings around Diwali and Dussehra, we expect to end this year with impressive growth.”

The festive season will end on Diwali

Pawah said the company has introduced several special editions of its existing model range in preparation for the festive season. The festive season usually begins with Onam every year and ends with Diwali.

(With agency input)