India’s Luxury Car Market Forecasts Strong Sales During Festive Season

The Indian luxury car market is looking forward to a promising festive season, which starts next month. Luxury carmakers are optimistic about increased sales, aiming to counteract the impact of global economic issues. Industry experts estimate that between 10,000 and 12,000 luxury cars will be sold during the festivities. Santosh Iyer, Managing Director of Mercedes-Benz India, noted that earlier market conditions were affected by global instability, but the festive season is expected to improve sales. He highlighted that luxury car purchases are influenced by consumer sentiment. Despite existing geopolitical challenges, the RBI’s decision to lower the repo rate by 100 basis points this year supports expectations for better sales during the festive season.