As we roll step into the second half of 2022, the Indian luxury automobile industry seems to not only be gaining momentum in terms of sales but breaking all the records of the previous year too. As per reports, 17,000 luxury vehicles were sold in India in the last six months, an increase of 55 per cent compared to last year. This begs the question, is the Indian luxury car market booming? Let’s take a look at the numbers.
Recently, Porsche announced that it had recorded historic sales figures in India, crossing 378 car deliveries this year alone, selling more cars from January to June compared to 2018, 2019 and 2020 figures. This marks a 118 per cent sales growth for the company just in the first half!
In a statement, the Stuttgart-based automaker announced that it had sold 167 units of the Cayenne and 125 of the Macan, accounting for 77 per cent of sales in total. Additionally, around 37 units of the Taycan and 27 units of the 911 Coupé were sold, alongside 19 units of the Panamera.
Mercedes-Benz hasn’t let go of its foothold on the luxury market this year as well. The E-Class LWB (long-wheelbase) outran its competition by quite a margin, with 2,839 units sold in FY 2021-2022. Following it up were the GLC SUV and the A-Class sedan, clocking in 1,922 units and 1,907 units respectively. Overall, the manufacturer confirmed that it has witnessed an increase of a whopping 56 per cent in terms of sales.
On the heels of Mercedes-Benz was BMW, which reported a record sales of 5,570 cars in the first quarter. Leading the charge here was the X1 SUV, which sold 2,241 units in FY 2021-2022. The second and the third spot was captured by the 3-series and 2-series Sedans, which accounted for 1,983 units and 1,190 units respectively. BMW’s MINI also seems to be doing rather well for itself, accounting for 379 units being sold in the country.
In a statement issued by the company, Vikram Pawah, President of the BMW Group said “Despite the turbulence caused by various factors in the domestic and international market, we have achieved the best-ever half-yearly sales performance for BMW, MINI and BMW Motorrad. A majority of products are sold out and we are trying our best to match the huge demand. The order books are full and the pipeline for coming months is quite solid.”
Audi hasn’t clocked numbers as impressive as other German carmakers with the petrol-only A4 and A6 priced at a premium over its competition due to the CBU regulations. However, the German manufacturer managed to sell 1,250 units of the A4 sedan, along with 775 units of the Q2 and 768 units of the A6 in FY 2021-2022.
Despite breaching the 40,000 units mark a couple of years back, the company accounts for 2 per cent of the market share right now. In a statement, Alexander von Waldenburg-Dresel, Audi Director Region Overseas, said “Audi believes in India… It has, however, not fulfilled all the expectations we had from it… It is part of the BRIC countries, and it was supposed to be second China and we still think it will come to that point someday.”
“But it will take a little longer than what was envisaged 20 years ago. I have been dealing with the Indian market for five years now. I have seen many forecasts and then what came out in reality. Looking from the outside, I have to admit that it is policies, which make life a bit difficult for us… The duties are high when compared to other countries,” he added.
While the Jaguar brand seems to be struggling for a while, with its CBU only XF, the Range Rover products seem to be doing rather well. The company sold around 406 units of the Evoque in FY 2021-2022, with some of its clientele being celebrities and athletes. Similarly, 374 units of the Velar and 335 units of the Defender were sold in the same timeframe.
Despite its understated presence in the Indian market, Volvo has done pretty well for itself, with the more expensive XC60 selling more units (575) than the XC40 (522) in FY 2021-2022. With its intention of now expanding its EV presence, Volvo does have a steep hill to climb, with competition from Mercedes, Audi and BMW.
Image credits: Mercedes-Benz, BMW, Porsche, Audi, JLR, Volvo