Despite offers, luxury car sales hit slow lane in 2018, rise a mere 4.9%

2019 unlikely to be better thanks to uncertainty around election results, say analysts

Attractive schemes and steep year-end discounts did little to attract buyers of luxury cars in a slowing market, shows annual sales data released by companies. 

Cumulative sales of luxury models from Mercedes Benz India, BMW India, Audi India, Jaguar Land Rover India (JLR), and Volvo Cars India, advanced 4.9 per cent to 40,863 units in 2018. Last year, 38,950 luxury cars were sold in the country.

Tighter liquidity conditions, increased up front insurance costs, and increased lending rates, especially in the second half of the year, weighed on buying sentiments, said officials at these companies. The current year is unlikely