Mercedes, Audi and BMW Experience Double Digit Growth In India
Volume segments in the Indian car market have been witnessing a bit of a slowdown, however, the same cannot be applied to the luxury segments. The top three luxury car makers in our country, Mercedes, Audi and BMW together account for about 90 percent of the country’s luxury car market and are witnessing double digit growth in 2015.
With as many as 40 new products lined up to launch in India this year, including 15 each by Mercedes and BMW, the year looks good for the luxury car brands to attain double digit growth figures. Mercedes experienced a 41 percent rise in sales in the first half of this year as compared to the same period in 2014. The company sold 6659 units as compared to 4717 units in 2014. This includes a 43 percent hike of sales in the second quarter at 3093 units sold and a 100 percent growth for the SUV portfolio in the first half of 2015.
Mercedes sold almost the entire volume of 2012 in the first six months of 2015 itself. Their growth is expected to rise even further with three more products waiting to be launched and 12 new dealerships to be inaugurated. Audi on the other hand is also looking to exceed its sales targets for the year. After losing its top spot in India to Mercedes this year, the company has rolled out many new models including the new TT, Q3, A3 Cabriolet, RS7, RS6 Avant, etc. With more products in the pipeline like the new A6 and Q7, the company is sure to create another record year in the country.
Apart from bringing out new products, the top luxury car makers in India are focussing on opening more dealerships and in also increasing the levels of localization to increase profitability and drive growth. For instance, BMW has already increased localization levels to 50 percent at its plant in Chennai.
Source : Economictimes