NEW DELHI: Demand for luxury cars in the first half of the calendar year 2023 was at an all-time high as the top three carmakers - Mercedes, BMW and Audi reported record sales numbers. In the January-June period this year, Mercedes Benz sold 8,528 units, a growth of 13% while BMW sold 5,867 units, up 5%. Audi India’s sales grew by 97% in H1CY23 to 3,474 units.
Going forward, the carmakers expect 2023 to be their best year, surpassing the previous high of 2018.
“Our estimate is that in the first six months (of the year) about 21,000 cars have been sold in the luxury space and normally H2 (second half) is better than H1. So, our estimate is that the whole luxury cars segment should be close to about 46,000-47,000 cars this year, which definitely is all-time high,” said Audi India Head Balbir Singh Dhillon. The previous high for the luxury car market was 40,000 units in 2018.
Mercedes-Benz India managing director & CEO, Santosh Iyer said factors like stock market being at an all-time high and corporate India earnings registering strong growth, there has been better bonuses and payouts and a lot of companies are also buying cars. “Right now, there is a very strong momentum and also a very conscious shift to luxury cars. So the demand continues and we see no reason for that to change as of now,” Iyer said.
Mercedes said the order book for them as of June 2023 is 3500+ units and the battery electric portfolio in H1, 2023, grew 10 times as against H1, 2022, with a strong response to EQB and EQS luxury electric vehicles. BMW said sports activity vehicles (SAV) contributed over 50% to sales volumes and the newly introduced BMW X1 stormed the segment with highest-ever bookings since its launch.