New Delhi. The generational difference in the way the younger generation thinks is driving the consumption of luxury goods in the country, and super-luxury cars are no exception. According to industry data, luxury cars from brands such as Lamborghini, Ferrari, McLaren and Aston Martin are witnessing strong demand in the domestic market.
Industry experts say that 1,200-1,300 luxury cars are expected to be sold in the Indian market this year. Last year, sales in the top-end car segment more than doubled to 1,000 units.
According to reports, all the Lamborghini cars allotted for the Indian market from its headquarters in Italy have been sold. Its cars like Huracan, Urus and Revuelto are priced between Rs 5 crore and Rs 10 crore.
Other luxury brands such as Ferrari, McLaren and Aston Martin have also seen strong growth in sales. Mercedes-Benz and Audi now have a waiting time of one year on luxury models. These cars cost between Rs 2.5 crore and Rs 4.5 crore.
Aston Martin has recently launched a new sports car 'Vantage' in India for Rs 3.99 crore (ex-showroom). According to the company, its structure is quite muscular and automatically attracts everyone's attention. Its design is inspired by Aston Martin's famous One-77 supercar.
BMW Group India posted a strong performance in the January-June period. The company's sales in the Indian market grew by more than 21 percent due to high demand for sports activity vehicles, luxury class and electric cars.
Sales of BMW luxury class cars grew by over 17 percent and contributed 18 percent to total sales. The BMW X7 was the best-selling luxury class model.
Vikram Pawah, President, BMW Group India, said, “The strong demand for our vehicles is driven by our competitive edge in exceptional mobility, along with unmatched driving pleasure and best-in-class innovations.
German luxury car maker Audi recently launched two new cars in India under its Bold Edition – Q3 and Q3 Sportback.
According to Knight Frank's latest wealth report, the number of ultra-high net worth individuals in India with assets of over $30 million is expected to grow from 13,263 in 2023 to 19,908 by 2028.
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Image Credit: Khas-Khabar.