New Delhi: The exclusive luxury car brand Aston Martin, a frequent star in James Bond films, is now a coveted possession in India. Alongside other prestigious car brands, it is witnessing a surge in demand in the domestic market. Industry data reveals that other ultra-expensive cars, including Lamborghini, Ferrari and McLaren, are also experiencing a similar trend.
This also indicates the ‘generational mindset’ shift shifting ‘generational mindset’ in India is fuelling the growth in luxury goods consumption, and super-expensive cars are no exception.
Industry experts say 1,200-1,300 luxury cars will likely be sold in the Indian market this year. In 2023, sales in the top-end car segment more than doubled to 1,000 units.
According to reports, Lamborghini has sold all cars allocated for the Indian market from its Italian headquarters. Its cars, such as Huracan, Urus, and Revuelto, cost between Rs 5 crore and Rs 10 crore.
Other luxury brands like Ferrari, McLaren, and Aston Martin are also seeing robust growth. Mercedes-Benz and Audi luxury models now have waiting periods of up to a year, and prices range from Rs 2.5 crore to Rs 4.5 crore.
Aston Martin recently launched the new sports car ‘Vantage’ at Rs 3.99 crore (ex-showroom) in India. According to the automaker, it boasts a muscular physique and unmistakable presence, with design cues inspired by Aston Martin’s legendary One-77 supercar.
BMW Group India has achieved a remarkable performance in the January-June period, witnessing a substantial boost of over 21 percent in car sales. This growth is fuelled by the high demand for its sports activity vehicles, luxury class, and electric cars, a testament to the brand’s strong presence in the Indian market.
BMW luxury-class vehicles registered a growth of over 17 percent, contributing 18 percent to total sales. The BMW X7 was the highest-selling luxury-class model.
According to Vikram Pawah, President of BMW Group India, the strong affinity for our vehicles is driven by our competitive edge in exclusive mobility paired with unmistakable driving pleasure and best-in-class innovations.
German luxury car manufacturer Audi recently launched two new cars in India under its Bold Edition: the Q3 and Q3 Sportback.
According to Knight Frank’s latest wealth report, India is likely to see more ultra-wealthy individuals. Those possessing a net worth exceeding $30 million will reach 19,908 by 2028, up from 13,263 in 2023.
–IANS
