Luxury car sales boom in India: Luxury car sellers have witnessed a boom in sale in India with Lamborghini, Porsche, Mercedes-Benz, and Lexus announcing record sales for 2022. These companies further anticipate these record numbers to grow in the coming years.
Lamborghini sold out for the year
In a big achievement for Lamborghini, the Italian super-luxury carmaker said that it is already sold out for the year in India. The price of Lamborghini cars in India starts from 3.15 crore for the Urus while the most expensive Lamborghini car in the country is the Aventador worth Rs 9 crore.
The company said that it hopes to retail over 100 cars in 2023 and most of them have already been ordered, reported The Times of India (TOI)
Speaking to TOI, Lamborghini’s Asia-Pacific director Francesco Scardaoni said, “We are already sold out for the year as far as deliveries for 2023 are concerned.”
Scardaoni said that the demand for super luxury cars has increased among businessmen and ultra-high net worth individuals (UHINs) leading to the surge in the purchase of luxury cars as the impact of Covid diminishes globally.
“Yes. Looks like whatever we do, sells pretty good,” he responded when asked if it’s proving to be a ‘golden period’ for the super-luxury carmakers.
The company posted record sales in India in 2022 at 90 cars, a growth of 30 percent from the previous year’s sales and it was amongst the fastest-growing globally. The sale of Lamborghini cars stood at 1,000 in China in 2022.
The country’s previous best-ever sale was 69 units in 2021. Before that, a total of 52 units were sold in 2019.
“More are getting sold. In our business, an order book on average covers more than 18 months. For the record, the 2023 production is already sold out. We are selling (for) 2024 now. And what surprises us is that the daily order book remains so high,” said Scardaoni while speaking to TOI about the trend globally for Lamborghini.
Scardaoni also expressed his concerns about inadequate road infrastructure and high import taxes in India. “… (road) infrastructure is not yet ready everywhere across the country to drive a super sports car safely. Compared to this, road conditions in China are fantastic, and all the cities are well connected. You can go flat out there,” he told TOI.
Audi India targets to achieve more than treble sales in two years
The India arm of German automotive manufacturer Audi AG has targeted more than treble its sales volumes over the next couple of years backed with multiple launches, better availability of semiconductors, and strong demand for luxury cars in the country, said Andre Konsbruck, VP sales overseas of Audi AG.
Speaking to Economic Times, Konsbruck also expected India’s luxury car market to touch the 100,000-unit mark over the next 10 years. “We will do at least 14,000 units in the next couple of years (in India) if the market remains stable and the economic growth continues,” said Konsbruck said.
Audi India delivered 4,187 units in 2022, a growth of 27% on sale year-on-year basis.
Porsche India witnesses best-ever year in sales; sees 64 percent growth
Porsche India Private Limited, a division of the German automobile manufacturer Porsche and the Volkswagen Group India, had last month said that the 2022 was its best year in terms of sales in the country.
Porsche India sold a total of 779, an increase of 64 percent, in 2022 as against 474 units in 2021. The global sales for the luxury car maker in 2022 were 309,884 units, an increase of 3% from the sale in 2021.
The company said that the sales include 78 units of its all-new electric Tycan (launched in December 2021) in the 12 months.
“It has been a strong year for Porsche India with a 69 percent growth in the sales of our SUV models, highlighted by our top-selling model, the Cayenne, ending the year with 399 retail units,” said Manolito Vujicic, Brand Director of Porsche India adding that the strong result shows the upward trajectory that started in 2021 was maintained through 2022.
