India Ought To Be The Third Largest Luxury Car Market

As per Mercedes Benz, strong demand for luxury vehicles is anticipated in the next 2-3 years. Being the 5th currently, the company plans to add 12 new models, which include 3 battery vehicles, this year. The German carmaker plans to expand in the smaller city outlets.

Turkey being in the list of top 5, the sales gap between India and Turkey is approx. 8000 units a year. According to the report of Mercedez Benz, the Indian market’s relevance and importance are not only for today but also for the near future.

Market Strategy

According to Sardien, the market strategy for India will be targeting the smaller cities, ranging from Jammu to Kottayam, and adding 12 new models, including three battery electric vehicles. In 2023, Mercedes Benz recorded the highest-ever sales, i.e., 17,408 units.

The electrification journey is picking up slowly with 4% of total sales. Although the future of electricity is on the Mercedes Benz, the company focuses on changing customer preferences and market conditions.

The potential of the luxury car in the Indian market is likely to touch the 1 lakh unit mark by the end of the decade. But there are a lot of fundamental things that can happen, and it purely depends on the customer how they change from a combustion engine to a battery EV.

Conclusion

Currently, the luxury car market is approx. 47,000 units per year, and the passenger vehicle segment crossed 41 lakh units. Also, the company believes that electrification in the Indian automobile market will soon see double-digit growth with the increased product range. For more updates, visit www.fyndmycar.com.

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