Luxury Car Sales Poised for a Festive Boost in India

Luxury car manufacturers in India are looking forward to a promising festive season, anticipating a surge in sales. They are optimistic that the upcoming festivals will drive demand and counteract the impact of global economic challenges. Industry insiders estimate that the festive season could see between 10,000 and 12,000 luxury car sales. According to Santosh Iyer, Managing Director of Mercedes-Benz India, while the domestic market experienced some weakness earlier in the year, the festive season is expected to bring a turnaround. He noted that sales in the luxury segment are heavily reliant on consumer sentiment. He also mentioned the RBI’s recent reduction in the repo rate. The company currently has 1,500 pending orders, especially for high-end models. Top-end vehicle sales are increasing by 15-20%. Mercedes-Benz India saw a 10% increase in sales in the last quarter, selling 4,238 cars. Overall, the luxury car market in India increased by 5-8%.