The luxury car market in India would lure consumers from the rich and famous to even common man and woman who are aspiring to own a high-end mean machine.
The luxury car market in India dominated by the compatriot German trio of Mercedes-Benz, BMW and Audi along with Tata Motors-owned Jaguar Land Rover, Volvo and Lexus are all set to spoil consumers with a slew of brand new car models this year.
The new hot wheels which would set the sale charts on fire would include sedans, sports utility vehicles or SUV, a growing popular trend in India, and off-road vehicles for the rich and famous and even car enthusiasts.
In fact, the luxury car market in India, the world’s fourth largest, after taking over Germany, would lure consumers from the rich and famous to even common man and woman aspiring to own a luxury car.
This wide array of irresistible models starting from Rs 30-Rs 35 lakh at the showroom would make the owner arrived to make a style statement and wear a new tag in the neighbourhood and society.
In fact, while market leader Mercedes-Benz has confirmed 10 new car launches, including upgrades, its archrival BMW, the second largest in the country, is launching 11 new cars and one upgrade to snatch the pole position from the former.
BMW’s aggressive new car launches list includes BMW 3 Series, BMW X4, BMW X5,BMW X6, BMW X7, BMW X3M, BMW X4M, BMW M8 Coupe, BMW M8 Cabriolet, BMW Z4 and BMW X1.
British sports car maker Jaguar Land Rover has also lined up 10 new cars and facelifts in 2018-19.
Audi, which was also market leader earlier, would bring in about 5-6 new car models and Swedish Volvo Cars, the fastest growing brand and Lexus, Japanese luxury arm of Toyota, have also queued in exciting car launches to attract consumers to their respective showrooms.
In fact, January saw a hectic rush of new launches such as the new Toyota Camry hybrid electric car, Nissan Kicks SUV, Tata Harrier SUV, Maruti Suzuki Wagon R and Mercedes-Benz V-Class, a luxury multi-purpose vehicle (MPV).
Italian super sports luxury car brand Lamborghini, also launched the new super sports car Huracan Evo at Rs 3.73 crore in India last week, barely a month after its global debut in Bahrain.
“Our brand is not a car to drive from point A to B but it is a lifestyle for the rich and famous,” Sharad Agarwal, head at Lamborghini India told FC.
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With Lamborghini Urus SUV launched last year in India, ahead of many other countries, and now Huracan Evo making it to India first after its global debut last month, showed the growing importance of Indian market, he pointed out.
“I am excited to announce that we have an interesting year coming up in 2019 – the Year of the ‘8’s – with an exhilarating line up of flagship models – thus promising a great array of choice for Audi enthusiasts in India,” Rahil Ansari, Head Audi India told this paper.
The focus of 2019, he said will clearly be on continuing to create a sustainable business from a long-term perspective for the brand Audi in India.
“Profitability is the key for everyone in the business and we would clearly like to grow on this path together with our dealer partners. We will be introducing our flagship models like the Audi A8 and the Audi R8 in the Indian market in 2019 along with other exciting models,” Ansari said. He said Audi globally introduced the Audi e-tron and is planning its foray into the Indian market soon.
“The Indian luxury market is on a strong upward trajectory, and we expect it to grow in 2019, buoyed by the rise in the number of high-networth individuals, with increased purchasing power,” N Raja, chairman at Lexus India, said.
Consumers are also showing a preference for environmentally conscious products, and are choosing to associate with brands that can help them meet these needs, he pointed out.
“At Lexus, our aim has been to provide our guests with cars that represent the pinnacle of luxury, technology, design and craftsmanship, and as we enter the third year of our India journey in 2019, we will continue to focus on the same,” Raja said.
Volvo, which believes in introducing volume grosser models like popular XC40 and XC60 is bringing to India all new S60 sedan to give competition a run for their money. This successful model was launched in Europe last year.
“We focus on volume grosser models and don’t believe in launching two digit car models which may not sell and bring in volumes,” Sudeep Narayan, PR and digital direct at Volvo India told FC.
“The second-generation Range Rover Evoque was revealed on November 22, 2018 and will be available in India towards the end of 2019,” Rohit Suri, president and managing director at Jaguar Land Rover India said.
More information regarding the specifications and prices in India of the second-generation Evoque for the prospective buyers would be available closer to the launch in India, he pointed out.
“The luxury car market in India is growing with buyers, especially the business class and young entrepreneurs preferring to change their models frequently,” Subrata Ray, senior group vice president at Icra Research, said. He said to sustain volume growth luxury car makers also introduce new models.
