You are here: Home » Companies » News » Automobile
Business Standard

Super sports car sales to grow in double digits in 2018: Lamborghini India

Apart from Lamborghini, the other players include Ferrari, Aston Martin, Audi R8 and Mercedes AMG GT-R etc


Press Trust of India  |  New Delhi 

Lamborghini logo | Photo: Wikimedia Commons

Super sports luxury car market in India is expected to grow in double digits this year on the back of improved sentiments after remaining flat in 2017, according to Automobili

The Italian super sports luxury carmaker, which sells Huracan and Aventador models in India, said last year was a challenging year for the industry due to lingering after-effects of demonetisation coupled with the impact of GST (Goods and Services Tax) implementation.

"There was the postponement of purchases in 2017 due to the continued impact of demonetisation and GST implementation. However, since the last quarter, we have seen demand coming back and it should continue," Automobili India Head Sharad Agarwal told PTI.

He further said, "With the outlook of overall economic growth positive and stabilisation in the market after those two transformations (demonetisation and GST), we expect growth to return to the segment".

When asked by how much the segment was expected to expand, Agarwal said, "This year, the exclusive super sports luxury segment in India is expected to grow in double digits".

The size of the niche super sports car segment, comprising 2-door models priced upwards of Rs 2 million with power of 400 ps, stood at around 70 units in 2017.

Apart from Lamborghini, the other players include Ferrari, Aston Martin, Audi R8 and Mercedes AMG GT-R, among others.

Agarwal said high taxation and frequent changes in rates have had an impact on the segment, which stood at around 100 units a year in 2011-12.

He, however, said the way the market is at the moment and if everything goes smoothly, the segment could reach again the 100 units a year milestone in another two to three years.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sun, January 07 2018. 13:31 IST