Business Business:�Luxury carmakers Mercedes-Benz, Audi and BMW are expecting strong sales this year as demand for high-end cars continues to grow in India. The festive season usually begins with Onam every year and ends with Diwali.�Santosh Iyer, Managing Director and CEO, Mercedes-Benz India, said the luxury car segment will perform its best this year and festive sales will play a major role in the overall results. He added that the holiday season typically results in high double-digit sales growth, helping the automaker overcome the mid-single-digit growth of the previous quarter.
“Keeping this in mind, we have been able to achieve double-digit growth on an average during the festive season,” Iyer said. “Some (companies) are slowing down, others are stabilising and facing challenges, but since we are a major player in the market, we still believe the luxury car segment will grow to 50,000 to 51,000 cars this year,” Iyer said. The car market in India is still very small, accounting for less than 2 per cent of the country's total passenger car market.
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