Audi India FY 23-24 Sales Growth: Defying Audi Q1 2024 Sales Setback with 33 percent Growth
Audi India’s performance in FY 23-24 shows resilience and growth, retailing a total of 7,027 units. Q1 2024 witnessed retail of 1,046 units, indicating a strong decline. Audi India reports significant Year Over Year (YOY) increase of 33.01 percent in FY 23-24.
However, Q1 CY 2024/ Audi Q1 2024 Sales saw a decline of 46.36 percent compared to the same period last year, with a total of 1,046 units sold. Down from 1,950 units. In comparison to FY 22/23, Audi India sales in FY 23/24 increased by 1,744 units, reflecting a substantial growth trajectory. Sales are up from 5,283 units.
Perspective on 2024 industry potential
Conversely, Q1 CY 2024/ Audi Q1 2024 sales witnessed a decrease of 904 units compared to Q1 CY 2023. Audi India faces challenges due to supply constraints, impacting operations despite robust demand. However, the brand remains resilient, leveraging its strong market position and brand reputation to navigate these challenges effectively.
Balbir Singh Dhillon, Head of Audi India said, “We have seen robust growth of 33% in FY23-24 on the back of a diverse portfolio. Our product portfolio continues to witness strong demand and we are poised to overcome supply challenges. Despite ongoing growth in the luxury market, which is tapering off on the back of record-breaking sales in 2023, we are confident about the industry’s potential to exceed 50,000 cars in 2024.”
Pre-owned Prowess: Audi Approved: plus Drives Growth
The auto manufacturer also operates Audi Approved: plus, a crucial aspect of Audi’s strategy, experienced notable growth in FY23-24. Specifically, there was a remarkable increase of 50 percent in sales, with a 25 percent growth in Q1 CY 2024.
At present, Audi Approved: plus operates through 26 facilities across India, with plans to add four more facilities within the year. This expansion aims to meet the rising demand for pre-owned luxury vehicles and enhance Audi’s market presence.
Between Peaks and Valleys
The pre-owned car market, represented by Audi Approved: plus, emerges as a significant growth driver. This segment not only sustains Audi’s performance but also diversifies its revenue streams, contributing significantly to its overall success. With strategic initiatives and a strong market presence, Audi India remains poised for continued growth.
