Mercedes, Audi witness record sales as festive season boosts demand for luxury cars

With more Indians buying premium cars this festive season, Mercedes and Audi witnessed record sales during the festive period. Both the luxury carmakers have launched record units this festive season.

After witnessing sluggish demand throughout the year, India’s luxury car industry is optimistic about making some profits in the ongoing festive season, reported PTI.

From Onam to Diwali, this year’s festive season was better for luxury carmakers compared to last year. Increased demand led to improved sales due to strong consumer sentiment, multiple new car launches, and an attractive portfolio, Mercedes-Benz India Managing Director Santosh Iyer told PTI.

“We saw record deliveries during Dussehra, Dhanteras and Diwali which shows the enthusiasm of the customers,” he noted.

In the 89-day festive period this year between August 17 and November 14, retail sales of total passenger vehicles crossed the 10 lakh mark. Whereas, around 8.10 lakh units were sold in the 71-day festive season last year.

Positive industry outlook for 2024 amid risk of supply chain disruption

Mercedes Benz MD expressed his confidence in the industry for the rest of the year and said his company will experience record sales this year.

However, supply chain disruptions will continue to be a challenge for the industry, affecting the production and availability of SUVs, especially the GLC.

“We continue to have a positive outlook on the industry, expecting record sales this year. However, we predict disruptions related to the supply chain will also continue in the coming months,” he said.

Just like Mercedes, Audi saw a spurt in its sales during this year’s festive season. The company has seen 88 percent growth with 5,530 units retailed in January-September 2023, said Audi India Head Balbir Singh Dhillon.

“We are operating with one of our highest order banks in the last few years. This festive period has been a great celebration for Audi India as we have seen our highest ever sales in the Christmas season in the last seven years,” said he.

The growth was a result of continued demand for our best sellers including the A4, Q3, Q3 Sportback, Q5, and S5 Sportback, Dhillon told PTI.

“Delhi and Mumbai continued to lead the demand for our products during the Christmas season. We continue to see good demand from Hyderabad, Kolkata, Chennai, Bengaluru, and Ahmedabad,” he said.

Expressing confidence in the luxury car industry in India, Dhillon said it will surpass 2018 volume – and reach the 46,000-47,000 unit mark.

“As a company, we are trying to end the year with high double-digit growth,” he said.

During the festival, BMW launched a range of powerful products, both cars and motorcycles during the festival.

“We will keep this momentum going,” he said.

The luxury car market in India currently stands at a value of USD 1.06 billion in 2021 and is set to reach over USD 1.54 billion by 2027, registering a CAGR of more than 6.4 percent during the forecast period of 2022 -2027, said Lamborghini India Head. Sharad Agarwal.

He also highlighted the contribution of the evolution of customer taste and preferences to the expansion of this car segment. There has also been a significant increase in demand for luxury cars with advanced technology and safety features.

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Updated: 19 November 2023, 05:27 PM IST

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