Page 2 - Luxury Car

ED raids Dulquer Salman, Prithviraj in Kerala luxury cars smuggling case

The ED on Wednesday raided premises linked to actors Prithviraj, Dulquer Salman and Amit Chakkalackal and some others across Kerala as part of its investigation into a recent Customs case related to alleged smuggling of luxury vehicles from Bhutan to India, official sources said. The searches by the Enforcement Directorate (ED) also covered certain vehicle owners, auto workshops, and traders in Ernakulam, Thrissur, Kozhikode, Malappuram, Kottayam and Coimbatore. A total of 17 premises are being covered, the sources said. The action is being taken under the Foreign Exchange Management Act (FEMA) in a recent case unearthed by the Customs related to alleged smuggling of high-end luxury vehicles and unauthorised foreign exchange dealings. The searches are based on inputs exposing a syndicate engaged in illegal import and registration of luxury cars such as Land Cruiser, Defender, and Maserati through the India-Bhutan/Nepal routes, they said. Preliminary findings, according to the ...

HNIs doubled in just 4 years, fuelling surge in luxury auto demand

India's millionaire households have nearly doubled to 8.7 lakh in four years, creating a runway for luxury car demand as wealth fuels aspirations and premium consumption

Luxury carmakers urge clarity on GST rates to boost festive season sales

A clear picture regarding new GST rates at the earliest will help the overall auto industry, including the luxury car segment, to regain momentum in the ongoing quarter, which generally sees enhanced sales on account of the festive season. The high-powered GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on September 3-4 to discuss moving to a two-slab taxation. In an interaction with PTI, BMW Group India President and CEO Hardeep Singh Brar said the recent speculation about the change in GST rates has caused uncertainty in the minds of consumers. Consumer interest and demand is strong, but they (prospective buyers) have adopted a wait-and-watch approach, and this delayed decision-making is impacting new vehicle sales at a certain level, he noted. "Expediting clarity on GST rates is essential to get back to speed and ensure the auto sector's contribution to economic growth during this quarter is robust," Brar stated. He also hoped that the sustainable push ..

India-UK trade deal: Smooth road ahead as luxury cars set to get cheaper

The India-UK Free Trade Agreement (FTA) is expected to lower tariffs, making high-end luxury cars and bikes more affordable. Brands like JLR, McLaren, and Triumph stand to benefit

Mercedes-Benz sees surge in customisation; luxury EV sales up 66%

Mercedes-Benz India launches collector's AMG G 63 as demand for personalisation grows; luxury EV sales rise 66 per cent in Jan-May, driven by new-age preferences

Chinese luxury carmaker Seres overtakes BMW in high-end EV market shake-up

Formerly called DFSK Motor, Seres partnered with telecommunications giant Huawei Technologies Co. back in 2021 to launch the Aito brand of premium electric and hybrid sport utility vehicles

Hyderabad luxury car dealer arrested for Rs 100 cr customs duty evasion

Luxury car dealer Basharat Khan arrested for Rs 100 crore customs duty evasion linked to illegal imports of high-end cars via Dubai and Sri Lanka through undervaluation tactics

Old is gold: Pre-owned luxury cars outsell new in 2024 as demand surges

The overall Indian automotive market is moving towards premiumisation, a trend evident from the rising share of utility vehicles (UVs)

After Renault, BMW Group announces 3% price hike in India starting April

Maruti Suzuki, Hyundai, Tata Motors, Kia India and Honda Cars have all announced price hikes April 2025 onwards

Luxury car market may double by 2030: Volvo Cars India MD Jyoti Malhotra

Considering what we have in the Indian market, Volvo is very competitively placed. We are performing quite well in different segments, Malhotra said

Eyes on the road: How Santosh Iyer is shaping Mercedes-Benz India's path

For Santosh Iyer, the drive is as much about the journey as it is about the destination - whether on the road or steering Mercedes-Benz India into the future

Rupee volatility likely to drive imported luxury car prices off course

Luxury car sales touched 51K units for first time in 2024

Mercedes reports best-ever annual sales; to roll out 8 models in 2025

Luxury carmaker Mercedes-Benz India plans to roll out 8 new models, including battery electric vehicles, this year as it looks to sustain sales momentum having posted record sales in 2024. The company sold 19,565 units last year, registering a growth of 12 per cent as compared to 17,408 units in 2023. Mercedes also saw sales of battery electric vehicles almost doubled in 2024 as compared to 2023. The company said one out of the four vehicles it sold last year was a top end vehicle (TEV) with a price tag exceeding Rs 1.5 crore. In an interaction with PTI, Mercedes-Benz India Managing Director & CEO Santosh Iyer said the new launches would be a mix of new models as well as fresh versions of the existing line up. The company introduced 14 new models last year in India. Iyer noted that the company remains optimistic as sales growth to continue in 2025 as well despite witnessing some headwinds in the second half of last year. In the second half of last year, the market growth actuall

Audi India reports 26.6% decline in retail sales at 5,816 units in 2024

German luxury carmaker Audi on Wednesday reported a 26.6 per cent decline in retail sales at 5,816 units in 2024 compared to the previous year, impacted by supply chain issues. The company had recorded retail sales of 7,931 units in 2023. "The first half of 2024 brought supply-related challenges for Audi India, yet the continued demand for our products reflects the enduring trust our customers place in the brand. With improved supplies in the second half of 2024, our volumes improved by 36 per cent in quarter four compared to quarter three of 2024," Audi India Head Balbir Singh Dhillon said in a statement. He further said 2024 marked a major milestone of a cumulative 1 lakh cars sold in India. On the outlook for 2025, he said, after finishing 2024 strongly in the fourth quarter the company anticipate sales to grow hereon. "We remain optimistic about the long-term potential of the Indian luxury car market and are committed to delivering exceptional experiences to our customers," ..

JSW MG Motor to unveil three new models at Bharat Mobility Global Expo 2025

MG Motor India confirmed showcasing three new models across three new categories, including the MG Cyberster electric sports car, at the upcoming Bharat Mobility Global Expo 2025

Supply disruptions to hit production and deliveries in 2024: Audi India

German automaker struggles to meet customer expectations despite strong demand

Jaguar's luxury electric sedan undergoing road testing, debut on Dec 2

In Jan 2024, the luxury car maker announced its plans to transition to fully electric car line up by 2025

BMW India consolidated net profit rises 52% to Rs 311 crore in FY24

Car sales witness 61 % Y-o-Y growth

Luxury car brands expand footprint as demand from Tier II-III cities rise

The decision to expand into South India is a strategic move, driven by the region's rapid growth in the sports car segment, with Bangalore alone witnessing a 35 per cent increase

Millennials, Gen Z driving demand for luxury car rentals in India

Mumbai and Delhi witness fastest growth in demand this year at 35% and 40%, respectively