India sees surge in super-luxury car sales amid shift in 'generational mindset', ET BrandEquity

The changing ‘generational mindset’ in India is fuelling the growth in luxury goods consumption and super-expensive cars are no exception. According to industry data, sales of luxury cars from brands such as Lamborghini, Ferrari, McLaren and Aston Martin are experiencing robust demand in the domestic market.

Industry experts say that 1,200-1,300 luxury cars are likely to be sold in the Indian market this year. By 2023, sales will more than double to 1,000 units in the top segment.

Lamborghini has reportedly sold all its cars destined for the Indian market from its Italian headquarters. Its cars like Huracan, Urus and Revuelto are in the Rane price range of Rs 5 crore-Rs 10 crore.

Other luxury brands like Ferrari, McLaren and Aston Martin are also seeing solid growth. Luxury models from Mercedes-Benz and Audi now have waiting periods of up to a year, with prices ranging from Rs 2.5 crore to Rs 4.5 crore.

Aston Martin recently launched its new sports car ‘Vantage’ for Rs 3.99 crore (ex-showroom) in India. According to the carmaker, it has a muscular body and an unmistakable presence, with design cues inspired by Aston Martin’s legendary One-77 supercar.

BMW Group India posted a strong performance in the January-June period with over 21 percent growth in vehicle sales, fuelled by strong demand for sports cars, luxury vehicles and electric vehicles.

BMW luxury class vehicles registered a growth of more than 17 percent, contributing 18 percent to total sales. The BMW X7 was the best-selling luxury class model.

According to Vikram Pawah, President of BMW Group India, the strong affinity with our vehicles is fueled by our competitive advantage in exclusive mobility, combined with unmistakable driving pleasure and leading innovations.

German luxury carmaker Audi recently launched two new cars under the Bold Edition name in India — the Q3 and the Q3 Sportback.

India is likely to see more ultra-rich individuals, according to Knight Frank’s latest wealth report. The number of people with wealth of over $30 million is set to reach 19,908 in 2028, up from 13,263 in 2023.

Ferrari or Lamborghini, it is a luxury that many can afford

Any Lamborghini booked now will not be delivered until 2026 or later as the supercarmaker has sold all the units allocated to India from its Italian headquarters. The company sells the Huracan, Urus and Revuelto in India, with an on-road price ranging between INR 5 crore and INR 10 crore.