Luxury car in indian market. The report covers the competitive landscape and current position of major players in the india luxury vehicles market. Mercedes benz is the best selling luxury car maker in india followed by bmw and audi. Mercedes benz india and bmw group india recorded their highest ever annual sales in 2017 at 15330 units and 9800 units respectively. The average age of luxury car owners is 35 years in the country compared to 43 45 years globally.
A luxury car is a luxuriously styled automobile which is designed to give satisfaction and comfort to its owner. Luxury car market in india has registered a fair amount of growth in the last few years and is growing at the rate of 25 per year. Indian luxury car market starting 2018 on high note luxury car companies lose their way in the fog the luxury segment started the year off on a high note with a majority of the manufacturers registering double digit growth in the first six months. Indias luxury car market hit a new peak.
According to the 2017 data luxury car sales stood around 40000 and india became the 27 most attractive luxury car market in the world source. Indian luxury car market size is close to 40k units now but in china audi alone sold more than 5 lakh cars 46k monthly average in 2017. With indias current gdp growth rate it will take decades to reach such exponential growth in indian luxury car market. Its fair to say luxury cars never go out of fashion and the craze for high speed and extravagance is not lost among car owners in india.
This makes the country one of the youngest luxury car market thus a lucrative market for luxury car manufacturers to grow. The india luxury car market is expected to register a cagr of 24 till 2023. India luxury vehicles market outlook 2017 2025 has been prepared based on an in depth market analysis from industry experts. 3 decades of double digit gdp growth has made chinese wealthier than indians.