The increasing demand for luxury products in India, including extremely expensive cars, is being driven by a change in the country’s “generational mindset.” Industry data indicates that there is strong domestic demand for premium automobiles from manufacturers like Lamborghini, Ferrari, McLaren, and Aston Martin.
According to industry insiders, the Indian market is expected to see the sale of 1,200–1,300 luxury cars this year. Sales of high-end cars more than doubled to 1,000 units in 2023.
All of the vehicles that Lamborghini had set aside for the Indian market have reportedly been sold from its Italian headquarters. Its vehicles, which range in price from Rs 5 crore to Rs 10 crore, include the Huracan, Urus, and Revuelto.
Aston Martin, McLaren, Ferrari, and other luxury brands are all seeing rapid expansion. There are currently waiting times of up to a year for the high-end Mercedes-Benz and Audi models, which range in price from Rs 2.5 crore to Rs 4.5 crore.
The new sports car ‘Vantage’ from Aston Martin was recently introduced in India for Rs 3.99 crore (ex-showroom). The carmaker claims that it has a powerful build and a striking appearance, with design elements reminiscent of Aston Martin’s storied One-77 supercar.
During the January-June period, BMW Group India had a significant increase in automobile sales of over 21%, driven by strong demand for its electric, luxury, and sports activity vehicles.
BMW luxury cars saw an increase of more than 17%, accounting for 18% of overall sales. The best-selling car in the luxury segment was the BMW X7.
The tremendous love for our cars is fueled by our competitive advantage in unique mobility combined with an undeniable driving experience and best-in-class innovations, according to Vikram Pawah, President of BMW Group India.
The Q3 and Q3 Sportback, two new models from German luxury automaker Audi’s Bold Edition line, were just introduced in India.
Knight Frank’s most recent wealth study predicts that the number of ultra-wealthy people in India would rise from 13,263 in 2023 to 19,908 by 2028, with a net worth of more than $30 million.
