“Luxury cars” refer to vehicles that offer more comfort, style, amenities, performance, and quality at a higher price. This domain is frequently influenced by the car’s brand. Luxury automobiles used to have much more elaborate forms. The fashion was for large luxury automobiles.
Over time, a new generation of tiny and sporty luxury vehicles arose. Mercedes-Benz, Audi, and BMW have all seen an increase in demand for their high-end fashions. This increase in demand, according to luxury automakers, has resulted in a longer waiting period due to supply constraints and ongoing global chip scarcity.
Reportedly, Audi, Mercedes-Benz, and BMW all stated that the premium-end segment has progressed in contrast to their respective portfolio’s volume-segment trends. According to a report by PTI, Audi India Head Balbir Singh Dhillon noted that demand for cars priced between 70 and 75 lakh rupees has been increasing compared to volume-segment styles over the last 12 months.
“People at giants who can shop for these units of autos (industrialists, sports personalities, and Bollywood celebs) are actually stepping forward and spending on shopping for the posh products, and the demand is good,” Dhillion remarked.
He also mentioned that Audi’s electric car, the e-tron, which costs around a crore, had already been sold before it arrived in the country. Martin Schwenk, the Managing Director and CEO of Mercedes-Benz India, also gave his thoughts on related topics, citing the fact that Mercedes-Benz purchased 2,000 models of high-end cars for more than a crore last year.
The S-Class Maybach, GLS Maybach, top-end AMGs, and S-Class and GLS SUVs are all part of this trend. This accounted for around 30% of the company’s total annual gross sales. Mercedes-Benz anticipates a 20% increase in high-end section volume in the coming year.
Nonetheless, just as Audi India’s Dhillon stated that supply constraints have pushed the wait time for the models up to 4 to 6 months, Schwenk added, “Sadly for some of the automobiles, it will take months for our clients to obtain, particularly our GLS and GLE (SUVs), where there are not only supply-chain constraints, but the demand-side globally is so high that now we have to take priority and be sure that we can deliver.
“BMW is also experiencing a similar trend, with its premium vehicles making faster progress. “We’re really strong with the SAV (sports activities exercise automobiles) – X3, X4, and X7 models,” BMW Group India President Vikram Pawah said.