Luxury car market feels the sting of a challenging 2018 15 th jan 2019 1259 pm. The growing opportunity in the sector has been investigated along with capturing initiatives and.
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Luxury car market in india 2018. This makes the country one of the youngest luxury car market thus a lucrative market for luxury car manufacturers to grow. The indian luxury car market is dominated by luxury cars manufacturers like mercedes benz bmw volvo audi and jaguar. Volvo cars india garners over 200 bookings for the newly launched compact luxury suv xc 4016 jul 2018 0622pm ist launched at an aggressive price of rs 399 lakhs to rs 439 lakhs ex showroom volvo expects the suv to play a pivotal role in achieving a double digit market share by 2020.
Only if we overlook 2016 growth rate because of one off exceptional event when 2000cc diesel engine cars were banned for limited period in new delhi. Indian luxury car market january 17 2018 january 25 2018 admin autopedia cars mercedes benz was the first luxury car maker which has shown confidence in indian market and set up assembly plant near pune after indian government has allowed foreign auto makers to set up factory through direct investment route in early 90s. India is one of the largest passenger vehicle markets in the world and vehicle.
The year initially looked promising but a clutch of factors in the second half dampened sales. Mercedes benz is the best selling luxury car maker in india followed by. Meanwhile mercedes benz india maintained its leadership position in the domestic luxury car market and sold a record 15538 units in 2018 up 14 per cent over 15330 units sold the previous year.
Assessment of indias luxury car market 2018 highlights key dynamics of indias luxury car market. While the luxury car penetration level in the country is low but leading luxury car manufacturers are betting on the markets potential. In 2018 luxury car market has grown at the slowest rate compared to last 10 years.
India is one of the largest passenger vehicle markets in the world and vehicle manufacturers both in the passenger and luxury segment see a huge potential for sales growth in the country. The top five luxury car manufacturers jointly sold 40340 units in 2018 compared to 38989 units sold in 2017 a growth of 34.
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