Luxury carmakers such as Mercedes-Benz, Audi and BMW are betting big on upcoming festive season to register robust sales. The festive season in India has always been considered as a period of recording major boost in automobile sales across all the segments. This time too, the luxury auto majors present in India are expecting a sales boost over the next few months. The luxury carmakers hope that the demand for high-end cars that has been witnessing a rise over the last couple of years will get a shot in the arm during the festive period this year.

Speaking to PTI, Mercedes-Benz India's MD and CEO Santosh Iyer said the luxury car segment is set for its best-ever performance in 2024 with festive season offtakes playing a major role in the overall performance. He noted that the festive season generally gives a high double-digit sales growth, helping the car manufacturer to average out single-digit growth of the earlier quarter. "So in that sense, on an average, then we are able to get a double-digit growth during the festive season," Iyer said.

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Luxury car market in India is currently a minuscule part of the overall passenger vehicle market. While there has been increasing demand and sales in this space over the last couple of years, the luxury car segment currently accounts for less than two per cent of the overall passenger vehicle market in India.

Speaking on the overall industry's growth potential, he said that luxury cars still remain a very small part of the overall passenger vehicle market in India. While the luxury car segment is headed for record volumes in this financial year, not all the players are witnessing growth, he stated. "Some companies are even degrowing, some are flat and they are facing headwinds, but because we are the primary player in the market, we still feel the luxury car market should cross 50,000-51,000 cars this year," Iyer said.

Another German luxury car major Audi too is anticipating positive buying trends to continue during the upcoming festive season. Audi India's Head Balbir Singh Dhillon believes the company will register a significant growth this festive season. "Our best-selling models - the A4, A6, Q3, Q3 Sportback, Q5, Q7, and the newly launched Q8 - continue to drive robust demand," he added. Audi is equally optimistic about the e-tron range, which include the e-tron GT and RS e-tron GT.

Among the other luxury car majors, BMW too echoed the same sentiment as its two arch rivals. BMW Group India President Vikram Pawah said the fundamentals of the Indian economy are sturdy and consumer confidence in the luxury segment is on the rise. "For BMW Group India, the order bank is solid and we are trying our best to speed up deliveries for our customers. Along with additional bookings around Diwali and Dussehra, we are confident of closing the year on a high note while clocking impressive growth," he stated.

Pawah noted that the group is witnessing very strong demand for products across all segments. He also said that in the run-up to the festive season, the company has introduced several special editions of its existing model range. The festive season usually commences with Onam and ends with Diwali every year.

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