Page 2 - Luxury Car Market

BMW posts record car sales at 9,580 units in India in Jan-Sep period

German luxury vehicle maker BMW Group on Friday reported a 10 per cent rise in total car sales at 9,580 units in India in the first nine months of 2023, driving towards another record sales in the year. The group's three brands -- BMW, MINI and BMW Motorrad (two-wheeler) recorded the best-ever January-September period sales in the country, BMW Group India said. The BMW brand clocked 8,998 units in the first nine months of the year, up 10 per cent from the year-ago period, while the MINI brand posted 582 units, also at a growth of 10 per cent. The group's premium motorcycle brand BMW Motorrad registered sales of 6,778 units in the January-September period, rising 26 per cent from the same period a year ago. "After the first half results, which was the best ever first half in our history, quarter three has been even more promising because we knew that we did all the launches in the first quarter of 2023 and all the suppliers ramp up started from the second half of this year...we have

Luxury car market poised for record sales in 2023 after stellar H1 numbers

Indian luxury car segment is driving towards an all-time high sales this year with the big three, Mercedes-Benz, BMW and Audi, posting record numbers in the first half of 2023. In the January-June period this year, German luxury carmaker Mercedes-Benz posted its best-ever half-yearly sales in India at 8,528 units, a growth of 13 per cent over 7,573 units in the year-ago period. Similarly, compatriot BMW Group also posted record sales of 5,867 units of luxury cars across its BMW and MINI brands during the period, its best half-yearly sales in India. Another German luxury carmaker, Audi, posted a 97 per cent jump in retail sales in India at 3,474 units in the first half of 2023 as compared to 1,765 units in the January to June period in 2022. "Our estimate is that in the first six months (of the year) about 21,000 cars have been sold in the luxury space and normally H2 (second half) is better than H1. So, our estimate is that the whole luxury cars segment should be close to about ...

Luxury car sales up 38% YoY in June, more growth than overall vehicle sales

Going by the current trend, luxury car sales will cross the 40,000 mark taking over the pre-pandemic peak achieved in 2018

Lamborghini India expects luxury supercar sector to see double-digit growth

Automobile Lamborghini is expecting luxury supercar segment to see double-digit growth in India this year, driven by improving infrastructure, rising population of ultra high net worth individuals and other factors, its country head Sharad Agarwal said on Thursday. He also said that Lamborghini India has started 2023 on a positive note with a strong order book, with most of its models having a waiting period of 18 months throughout 2024. The Italian super sports luxury carmaker on Thursday rolled out its second model of Urus SUV lineup, Urus S with a price tag of Rs 4.18 crore in the domestic market. Lamborghini began its India operations in 2007. Last year, it sold 92 units in India, a growth of 33 per cent over 69 units in 2021. Apart from the newly launched Urus S, Lamborghini sells three more models -- premium SUV Urus and two super sports cars Huracan Tecnica and Aventador in the country, with prices starting upwards of Rs 3 crore. Cars carrying a price tag of Rs 20 million o

Just two months into 2023, Lamborghini crosses its India sales target

Lamborghini has already received orders for 100 cars in India in less than two months

Luxury cars: India's wealthy splurging on personalising wheels of fortune

The minimum waiting period for owning a prized set of wheels has stretched to 18 months, and buyers are loosening their purse strings further to get these rides customised to reflect their personality

BMW expects sales momentum to continue next year; lines up 8 new launches

With 2022 turning out to be the best ever year in terms of sales, luxury carmaker BMW India expects volume to remain robust in 2023 as well as it looks to drive in multiple products, including electric sedan i7. The carmaker, which sells products under BMW and Mini brands in the car segment and bikes under BMW Motorrad, is all set to introduce eight products over the next eight weeks in the country. "For us, we believe it (sales momentum) will carry on for sure. We got fantastic products coming next year as well. We are starting with eight big launches with three being super big products, so I am very confident. We will grow in a very strong way in 2023 as well," BMW Group India President Vikram Pawah told PTI in an interaction. He was replying to a query whether the company would be able to maintain sales growth next year as well. Pawah noted that the domestic car market is witnessing a positive phase and is expected to carry forward to 2023 as well. "People are looking at buying

Mercedes-Benz slashes China EV prices by up to $33,000 as sales lag

The luxury automaker said in a statement on its website late Tuesday that it was reducing prices on certain models from its EQ range, effective Wednesday, and that it would provide subsidies

BMW India turns the corner, reports profit in FY22 due to high demand

The company posted its highest-ever revenue in India in FY22 at Rs 4,365.8 crore

Mercedes Benz to roll out EQS 580 from Sept 30; here's what to expect

EQS 580 will be offered with a dual-motor set-up, one on each axle. It develops 516 bhp and 856 Nm of peak torque and is paired with a 4Matic all-wheel-drive system.

Demand for luxury cars in India rises to a new high, buyers getting younger

The sale of supercars, costing above Rs 2,5 crore, is set to be 600-650 in 2022. This is expected to fetch Rs 1,200 crore to the auto companies

Mercedes to recall 1 million cars on fear of faulty breaks: Report

The regulator, known as KBA, said that the affected cars were built between 2004 and 2015

Mercedes-Benz opens booking for new version of C-Class in India

The booking amount for the new C-Class is Rs 50,000 with bookings to open first for the C200 and C300d variants, followed by the C220d variant, the company said

Audi India plans to develop market by bringing in more products

German luxury car maker Audi plans to develop the market in India by bringing in more products and expanding the network across the country, an official of Audi India said on Friday

Audi launches new version of SUV Q7; price starting at Rs 79.99 lakh

The locally assembled vehicle is powered by a 3-litre petrol engine with a 48V mild-hybrid system generating 340 hp. It can accelerate from 0-100 km/hr in 5.9 seconds

Driven by SUV Macan, Porsche India sales grow 62% at 474 units in 2021

The company expects this sales momentum to continue in 2022 amid a strong order bank and further expansion of its product range

Mercedes-Benz to launch electric vehicle model, assemble EQS in India

Touted to be the 'S-Class of EVs', slated for a Q4 launch

High taxes hampering growth of luxury car segment in India: Audi

A high taxation regime is restricting growth of the luxury car segment in India and the government should look at lowering the levies in order to help the sector grow, according to automaker Audi

Hyundai unveils i20 N-Line, betting on fun-to-drive performance cars

The i20 N-Line is expected to add 1,000 units in monthly sales; the brand celebrates Hyundai's World Rally Championship success

Jaguar Land Rover India commences deliveries of new Range Rover Evoque

Jaguar Land Rover (JLR) India on Tuesday said it has commenced deliveries of new version of Range Rover Evoque in the country. The updated Evoque comes with 2-litre petrol and diesel powertrains. The 2-litre petrol engine delivers a power of 184 kW, while the 2-litre diesel engine generates 150 kW of power. The price of the model starts from Rs 64.12 lakh (ex-showroom). "Range Rover Evoque has always turned heads with its unique, modernistic and smart design. "With the introduction of new interior colorways and latest Land Rover technologies, the new Evoque's style quotient is even more enhanced and the new Ingenium powertrains make it more powerful and efficient," JLR India President & Managing Director Rohit Suri said in a statement. The new Range Rover Evoque comes with new features such as 3D surround camera, cabin air ionisation with PM2.5 filter, wireless device charging with phone signal booster and new infotainment system.