Luxury car sales in India reached a record high of 42,731 units in 2023, up 20% YoY. The increase is attributed to a lifestyle change after Covid-19, with younger professionals opting for high-end cars. The trend is expected to continue due to rising disposable income levels. The growth potential of this segment is significant, given the low penetration of the segment.
In 2023, luxury car sales in India soared to a record high, with daily sales of cars priced over INR 50 lakh rising to 128 from the pre-Covid 95. The shift is attributed to post-Covid lifestyle changes, robust corporate earnings, and increased interest from younger professionals.
In 2023, luxury car sales in India soared to a record high, with daily sales of cars priced over ₹50 lakh rising to 128 from the pre-Covid 95. The shift is attributed to post-Covid lifestyle changes, robust corporate earnings, and increased interest from younger professionals.
The German premium carmaker had earlier shared its ambitious plan of targeting all-electric sales by 2030 "where markets allow". In line with the electrification efforts for the India unit, Mercedes Benz offering customers several benefits for buying electric vehicles (EVs). This includes supporting them with one time Sustainability Loyalty Bonus, 50% road tax support in those states where road tax is applicable at the time of EV registration, and free charging for all EV users in the network. They are valid till the end of October.