Indian luxury car sales hit record high in 2023
In 2024, the Indian luxury car market is set to cross the 50,000-unit sales mark for the first time, with key players gunning for a strong double-digit growth. In the calendar year 2023, at over 20 percent, the luxury car market grew at more than double the pace of the mainstream car market, with volumes estimated to have hit a new peak of around 47,000 units.
- Mercedes India sold over 17,400 units in 2023
- BMW India also recored its highest-ever sales
- Cars priced above Rs 1.5 crore saw massive sales growth
Mercedes-Benz India, the country's oldest and largest luxury carmaker, recorded its highest-ever manual sales in 2023, selling over 17,400 units and registering a growth of 10 percent. Santosh Iyer, MD of Mercedes-Benz India, says the festive season of 2023 was strong and that momentum continued well into December, when the company witnessed healthy results. “So we are continuing to aim for a double-digit growth even for 2024," he added.
Meanwhile, BMW india saw an 18 percent jump in its sales to 14,172 cars. Each of the three BMW Group brands – BMW, Mini and BMW Motorrad – recorded their highest-ever sales in the Group's history in India. Audi india's sale grew almost 90 percent on a low base to about 9,000 units, inching towards its previous peak.
