India s luxury goods market is projected to grow to Rs 82,186 crore by 2027. Here’s what data collated in The Point in ‘Business Today Magazine - The Luxury Issue’ reveals about the world of the rich.
Customers will no longer have to depend on dealer inventory for their preferred model
The new retail structure will eliminate the dealer link and will see customers deal directly with the brand.
The new structure will be effective from October 2021 onwards and will only be applicable on the new car business.
Mercedes-Benz has also announced that it will launch 15 new models in India in 2021, the most recent being the GLA.
Mercedes-Benz India has announced a new retail structure that will directly benefit customers, and will be in effect from October 2021 onwards, albeit for the new car business only.
With the new sales process, the link between the carmaker and the customer, which in this case is the dealer, will be eliminated. Customers no longer have to depend on limited dealer inventory and will be offered the complete list of models available across the country from the carmakers themselves. This will replace the current structure which is limited to just one process: the de
Others includes OEMs such as Aston Martin, Lexus, and Maserati
Mercedes-Benz tops the list, selling 7,087 units in FY 2020-2021. However, this is significantly less than the 11,394 units sold in the preceding financial year. Audi has seen a massive drop in sales as well, with just 404 units sold in the last financial year compared to the 4,233 units in the one before that. The numbers for Audi s sales are based on completely built-up (CBU) units. Audi hasn t shared the figures for its locally assembled models.
Lamborghini is the only luxury carmaker to have performed better during this period, doubling its sales from 13 units (in FY 2019-20) to 26 (in FY 2020-21). This doesn’t come as a surprise, considering the Rs 3.1 crore Lambo SUV has already sold over 100 units since its launch in 2018.