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Indians Bit by Luxury Bug

The Indian culture is changing drastically with wealthy Indians spending lavishly in the name of luxury is key to the Indian auto industry seeing a mounting demand for luxury cars. As we all know that, India is the fourth largest market in Asia offering an excellent opportunity to the auto industry. With a rapidly growing demand for the luxury cars are increasing.

 

Indian auto industry witnessed a remarkable growth of 25% last year. And to my surprise, more than 5,000 luxury car were sold in 2006 compared to 3,000 in 2005. The 2007 figures are expected to outshine present figures. The average rich Indian are bored with the normal or regular cars and look for more comfort and class and therefore pamper and have the need to enjoy a superior lifestyle. Perhaps these expectations are molding the new class of affluent Indians to possess top brand vehicles, regardless of their prices.

 

With the bright future for the luxury cars in the Indian market, major luxury automakers are setting up their showrooms and manufacturing plants in India to cater to the rich peoples' fancy for trendy and luxurious cars. Price is no more a concern now, Mercedes-Benz and BMW offer a starting price of Rs. 25-30 Lakh, whereas the Maybach lures the consumers to pay as much as Rs. 5 crore to drive in the lap of luxury. Other motor giants like Volkswagen, Volvo, Lamborghini, Rolls Royce Phantom, Bentley, and Porsche have already joined the luxury car revolution in India.  Last year Rolls Royce for which the pricing starts from Rs.3 Crore sold 11 cars in India.

 

 It is not possible to deny the fact that the luxury car market in India has a huge potential compared to other emerging markets and for affluent Indian customers price simply doesn't matter when it comes to living in style.

 

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