The luxury car market in India isn’t just the domain of celebs and businessmen any longer with young salaried professionals with higher disposable incomes flocking to luxury car showrooms. In June 2011, 403 BMW X1’s were sold. The car comes with a starting price of Rs. 22.4 lakh. Buying trends see affluent Indians head to luxury car stores. It is now believed that luxury carmakers Mercedes, BMW, and Audi are enroute to setting individual best sales records in the Indian car market for 2011.
Mercedes, BMW, and Audi have collectively sold almost 11,000 units through Q1 and Q2 of 2011. Collective targets put the sales figures for the German triad at 23,000 units in 2011. In 2010, 15,068 luxury cars were sold in India and BMW made the maximum contribution with 6,246 units sold.
The SUV X1 is bringing in volumes and BMW India sold 4,524 units between January-June 2011 as compared to 2,183 units in the corresponding period last year. BMW has the X3 launch lined up in Q4 of 2011. President of BMW India Dr Andreas Schaaf said, “This year we want to achieve 10,000 units and it will be a break-through target. It is not easy to reach. But it will give us a lot of strength.”
Mercedes Benz sold 3,797 units from January to June 2011 as compared to 2,400 units for the same period in 2010. Having lost their numero uno status to BMW, Mercedes too is looking forward to tapping younger owners and has set a sales target of 7,500-8,000 units for 2011. Daimler Financial Services India is now operational and will provide lending support those who want to buy Mercedes cars.
Audi India made 2,802 deliveries in India between January-June 2011 as compared to 1400 units for January – June 2010. Having sold 3,003 cars in 2010, Audi India looks forward to selling upwards of 5,000 cars in 2011. The new Audi A6 is to be launched in September 2011.