Sale of luxury vehicles in India sees 38% jump in June

Luxury car sales in India recorded double-digit growth in the first six months of the year, surpassing the entirecar market, reaffirming India's position as an important market.

Luxury car salesIn the January-June period, Business estimates approximately 20,000 units, up 38% from 14,500 units sold in the same period last year. Strong consumer demand, particularly in the upper segment and good level of decision-making among companies will contribute to this year's growth, driving total sales up to 40,000 units.

In the first half of 2023, total passenger car sales will increase by 10% to reach 24,444 billion units. Mercedes, BMW and Audi are optimistic Standard Chartered predicts that the US will enter a recession with a severe crisis in early 2024.

Meanwhile, domestically, German luxury automakers Mercedes-Benz, BMW and Audi reported good growth in January–June. Sales of market leader Mercedes-Benz India rose 13 percent to 8,528 units and 4,444 units, while Audi India nearly doubled to 3,474 units. BMW India has not yet released sales figures for 4,444 units.

Santosh Iyer, managing director of Mercedes-Benz India told The Economic Times: "We saw good growth in the first half of the year, with sales increasing by 54 percent compared to last year. We expect this to continue sales and achieve double-digit growth in the current year.