Ferrari
Imtiaz Alam, a Kolkata-based interior designer, is fond of luxury cars. No, eight-zero figures are not credited to his account every month. Yet, he manages to park at least two luxury cars in his garage. His favourite? A Jaguar F Pace! And what helps him manage this enviable feat? His penchant for buying used luxury vehicles at dirt cheap prices, a trend thatâs gold for all autophiles.
âI bought a pre-owned Audi A3 recently from an authorised Audi dealership for Rs 18 lakh. This is a 2018 car and had done just about 30,000 km. Imagine, you pay that much for a new Hyundai Creta or a Kia Seltos!â states Alam.
India Passenger Vehicle Industry Outlook Report 2021: Growth Opportunities in Increasing Preference for Compact UVs & Connectivity as New USP for OEMs
April 15, 2021 06:18 ET | Source: Research and Markets Research and Markets Dublin, IRELAND
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Currently, the country s passenger vehicle (PV) sector accounts for nearly 7.5% of gross domestic product (GDP) and nearly 49.0% of manufacturing GDP. In the recent past, the Indian PV industry took a massive qualitative jump as vehicles became increasingly safer and environment-friendly, growth fuelled by a mix of policy changes and consumers evolving demands.
This high growth pattern occurred in a short time frame and attracted International automakers to invest in, enter, or expand existing operations in India.