Zee Media Bureau/Vibhuti Jaitly
New Delhi: With luxury car brands such as Audi, Mercedez-Benz and BMW hitting up the Indian roads, the luxury car market in India is expected to grow upto 20 percent in the next 5-7 years.
At present, luxury cars in India contribute just 2 percent of the Indian passenger car market.
India, seen as a growing and expanding market by various luxury carmakers, is the target of luxury car makers such as BMW, Audi and Mercedes-Benz that are eyeing to grab a large chunk in it where Audi and Mercedes-Benz are in a neck-to-neck competition in terms of capturing the pole position.
Other luxury carmakers such as Volvo, Porsche, Jaguar Land Rover are also gearing up and want to make their presence felt in the Indian luxury car market.
With the luxury car market expected to hit 20 percent in the next few years, these luxury carmakers are looking forward to cash on this positive outlook by launching many new models.
Mercedes Benz is doing well in the Indian market as it sold 4,717 units in the first half of 2014, which is a growth of 25 percent. The models which drove the sales are the flagship models - Mercedes A, B and S class.
Mercedes has already launched 7 new models this year and plans to launch a few more in the coming months.
Audi on the other hand is hoping to cash on its new compact sedan – A3, which will hit the roads in August after having sold 10,126 cars in the first half of 2014 in the luxury segment.
Moreover, BMW is set to launch 9 new models this year, of which, it has already launched 5 models including BMW Active Hybrid 7. BMW M3 and BMW i8 are the most anticipated cars which have taken the world by storm and will hit the Indian market soon.
The second half of the year and the festive season, which is just around the corner, will decide and present the final report card and fate of these car players.
