Demand for Luxury cars sees no shortfall even after the Second Wave hit the Nation. The industry has been Witnessing an extremely high demand for luxury cars on which the manufacturers are unable to cope-up tells Sanjay Thakker, Chairman and Founder of Group Landmark. Sanjay feels the industry is currently on the way back to regain lost market.

The present demand driving factors are preference for personal mobility & Inclination towards long Domestic Travel in self-owned cars. There have been challenges in Production and Supply in past but nobody actually saw this high demand coming up tells Sanjay.

The industry is seeing Demand Across the board in all premium and luxury vehicles. To highlight how rapidly the luxury car market is growing domestically he highlights that the percentage share of cars above Rs.10 lakhs has now grown to 26% of overall sales versus 16% in last 6-7 years.

Trend Worldwide has been towards SUVs and the share of SUVs in overall sales has been increasing steadily. He feels that India is entering into a secular kind of growth phase and believe car market in India to witness a Bull Run for the next 4-5 years. He Expects car sales to clock double-digit growth for many years to come.

Factors that will help such growth in the domestic market includes rising Percapita Income ownership, kind of wealth creation witnessed, betterment in road infrastructure. He adds Scrappage Policy will give another push to the Industry.

Markets worldwide were hit badly due to the semiconductor issue but in context to Indian, markets Sanjay tells that Indian markets are witnessing good Supply because even manufacturers see India as Sunrise Markets are going out of the way to ensue Indian supplies are interrupted and he continues to expect luxury car segment to Outperform.