India – Mercedes Benz, BMW and Audi report cumulative sales of 31,277 units for 2022; All 3 manufacturers post sales growth
The Indian automotive industry has been on a growth path despite added pressures in recent years. Keeping in mind the number of cars per 1,000 folks in the country, overall car purchase volumes are expected to grow for years to come. Within this, the segment of buyers that can afford a luxury car are miniscule. It is in this niche segment that Mercedes-Benz India has continued to triumph on most year end results.
Luxury car sales are driven by factors such as increasing disposable incomes, a growing middle class, and policies aimed at reducing the tax component on such purchases. It goes without saying that the trust bestowed upon luxury brands also makes buying an electric car from them an easy choice.
Luxury Car Sales India 2022
Current market trends influenced directly by Covid-19, not only brought business activity to a halt, it did bring about a slowdown in economic growth. This compounded chaotic circumstance contracted overall luxury car sales.
Add to this the woes of import duty and GST on luxury cars that particularly impacts sales of luxury cars in India. For 2022, Mercedes-Benz India reported yearly sales at pre Covid levels, with a strong foothold on expected future growth. And BMW reported its best ever sales.
With stricter emission and safety regulations fast becoming a big deal in formulating auto policies, luxury cars already offer all that we need, and want. BMW India continued to make strong strides to 2022. Growth was reported in all aspects of business here – BMW cars, Mini cars, and BMW motorcycles.
The last time sales were this robust was in 2018. That story however did not include its successful two-wheeler chapter. And 2022 has been a brilliant year with sales reported at 11,268 units. This being its highest yearly sales since doing business in India.
Market Share Of Top 3 Luxury Car Brands
Cumulative sales for Mercedes-Benz, BMW, and Audi accounted for 31,277 units in India. Merc topped out at 15,822 units. BMW sales was reported at 11,268 units, and Audi sales stood at 4,187 units. Market size was just shy of the last high reported in 2018 at 32,406 units.
Mercedes Benz India claimed 50 percent market share in 2022, BMW 36 percent and Audi 13 percent. Data from 2010 to date shows a total of 3,38,254 cars sold by the 3 German manufacturers. With Merc leading at 1,45,707 units. In fact, the manufacturer has been topping sales charts here since 2015. And most times, its market share among the top 3 has been in the vicinity of 50 percent.