Pawah said that in the run-up to the festive season, the company has introduced several special editions of its existing model range. The festive season usually begins with Onam and ends with Diwali every year (Photo: Reuters)
Luxury carmakers Mercedes-Benz, Audi and BMW are expecting robust sales during the festive period this year as demand for high-end cars continues to show an upward trend in India.
In an interaction with PTI, Mercedes-Benz India MD and CEO Santosh Iyer said the luxury car segment is all set for its best-ever performance this year and festive season purchases play a major role in the overall performance.
He noted that the holiday season typically yields double-digit sales growth, helping the automaker average single-digit growth from the previous quarter.
“In that sense, on an average, we can get double-digit growth during the festive season,” Iyer said.
Talking about the industry at large, which still remains a very small share of the total passenger vehicle market in the country, he said the segment is heading for record volumes this fiscal year, but not all players are witnessing growth.
“Some (companies) are even declining, some are stagnant and facing headwinds, but since we are the major player in the market, we still believe that the luxury car market should cross 50,000-51,000 cars this year,” Iyer said.
The luxury car market in India currently remains very small, accounting for less than 2 percent of the country’s total passenger vehicle market.
Balbir Singh Dhillon, Director, Audi India, said demand has been growing steadily over the past few months and the company expects this to continue in the coming period.
“We are working tirelessly with our headquarters to secure additional allocations for India to meet this growing demand,” he said.
That said, one cannot ignore the fact that the waiting period for Audi cars has increased due to the mismatch between supply and demand, he added.
“It is also important to mention that the prevailing global challenges are not only impacting the adequate supply of new cars but are also putting pressure on prices,” Dhillon said.
With the festive season approaching, Audi is expecting good growth on the back of sustained demand for models such as the A4, A6, Q5, Q7 and Q8. BMW Group India President Vikram Pawah said the fundamentals of the Indian economy are strong and consumer confidence in the luxury segment is on the rise.
“For BMW Group India, the order bank is strong and we are making every effort to expedite deliveries to our customers. Coupled with additional bookings around Diwali and Dussehra, we are confident of closing the year on a high note and registering impressive growth,” he said.
He noted that the group is witnessing very strong demand for products across all segments.
Pawah said that in the run-up to the festive season, the company has introduced several special editions of its existing model range. The festive season usually begins with Onam and ends with Diwali every year.
First published: September 22, 2024 | 10:49 am IS
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