FADA has revealed retail sales data of luxury and premium car brands for July 2020
Needless to say, the Covid-19 pandemic has proven to be detrimental for businesses, especially the automobile sector. For the first time, the automotive industry carried out absolutely zero business in April 2020, and figures weren’t too encouraging in May either.
However, things started to change from June as imposed restrictions eased out under unlock phases, and businesses slowly gathered pace. While most of the automotive sector has seen appreciable MoM recovery in the past two months, the same cannot be said about premium car manufacturers, which report smaller volumes.
Premium car manufacturers are still finding it difficult to attract consumers who are willing to spend big bucks to own a luxurious car. It’s evident that economic regrowth has affected society at large. While the automotive industry was already reeling from a downturn prior to lockdown, Covid-19 pandemic has been an added stress.
Luxury / Premium Car Sales India – July 2020
Most luxury car manufacturers have reported negative sales in July 2020. Sales comparison to July 2019 sees overall sales in July 2020 reported at less than a quarter at 933 units, down from 4,034 units in July 2019. This means the segment has witnessed a massive de-growth of 76.87 percent.
The figures are not too encouraging for the two strongest players in this segment – Mercedes and BMW. Both the German heavy-weights registered steep downslide in terms of sales. While Mercedes registered a de-growth of 49.11 percent, the Bavarian automaker registered a negative growth of 62.34 percent. Given the current pandemic situation, and its impact on the economy, it is fit to say that these figures are not likely to improve momentously in the coming month as well.
German luxury carmaker Audi bore the maximum brunt of it which only sold 79 units in July this year as opposed to 2174 units sold last year, thus resulting in negative growth of a huge 96.37 percent. Similar was the case with Indian-owned British manufacturer Jaguar Land Rover (JLR) which registered a de-growth of 66.81 percent. During the said period this year, JLR sold only 76 units of its products as opposed to 229 units last year.
Other manufactures like Porsche, Lamborghini, Bentley, Ferrari and Rolls Royce sales remain close to July 2019. All these super-expensive brands registered sales in single digits. Porsche sold 7 units, Lamborghini 4 units, Ferrari, Bentley and Rolls Royce sold 1 unit each in July 2020 in India.