• No slowdown for India's super-rich, as super-luxury automobiles are selling like hotcakes

    Automobiles

    "We have a very solid order book going into 2022. The trend appears to be positive based on what we've seen in the first five months "Sharad Agarwal, the head of Lamborghini India, told the media.


    Digital Desk: Sales of super-luxury cars costing more than Rs 2 crore are expected to surpass pre-pandemic highs this fiscal year, thanks to an expanding client base, geographic reach, and product selection.

    The number of luxury cars purchased by India's super-rich in 2018 was 325, but that number practically dropped in 2020 as the Covid-19 pandemic struck.

     

    According to sources, Lamborghini, the Italian super-luxury automobile company, has witnessed strong bookings despite the economic downturn and is on track to achieve its best-ever sales in India.

     

    "We have a very solid order book going into 2022. The trend appears to be positive based on what we've seen in the first five months "Sharad Agarwal, the head of Lamborghini India, told the media.


    "These figures do not reflect the market's potential for super-luxury automobiles. India is producing the world's second-largest number of billionaires. We used to sell our cars to third and fourth generation businesspeople. First-generation businesspeople, entrepreneurs, and women are now among our customers. The number of customers has grown "Agarwal went on to say.

     

    Mercedes-share Benz's of high-end luxury cars priced over Rs 1 crore has more than doubled to 29% in 2022, up from 12% in 2018. According to Mercedes-Benz India's managing director, Martin Schwenk, about a third of the 5,000 pending orders are for vehicles costing more than Rs 1 crore. Mercedes-Benz will sell 2,000 luxury automobiles in 2021.

     

    Even though the rising cost of entry-level vehicles is obvious, it has been unable to impact the premium end of the market.

     

    According to report, the luxury car market in India is sitting on pending orders of over 10,000 units.

     

     

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