International Business News: LONDON: Aston Martin Lagonda halved losses in 2023 as average selling prices hit record highs, the British luxury auto giant announced Wednesday.
In a big step-up for the Indian luxury car market, Mercedes-Benz is looking to double installed capacity at its India factory to 40,000 cars per annum as the German giant charts out a strategy to maintain its lead in the country by launching new cars and expanding its footprint. The move, which is in early stages right now, will see the company expand annual installed capacity at its factory - located outside Pune - from the existing 20,000 units.
BMW India currently sells five EVs - luxury hatch Mini SE, entry SUV iX1, sedan i4, SUV iX and limousine i7 - priced between INR 53 lakh and INR 2.50 crore (ex-showroom. Overall, the company clocked record performance in the Indian market in 2023 with total sales growing by 18% to 14,172 cars from 11,981 vehicles in 2022. Meanwhile, sales at the motorcycle unit, BMW Motorrad rose by 20% to 8,768 units last year. “All three brands – BMW, MINI and BMW Motorrad – have delivered their highest-ever sales,” said Pawah.
Mercedes Benz: The premium carmaker s group sales rose 1.5% to just under 2.5 million, but fourth-quarter sales were down 3% for the Group and 4% in the cars division as a shortage in 48-volt battery systems and a model changeover for its E-Class limited output.