audi: Luxurious automobile gross sales might breach 2018 peak of 40,000 items subsequent 12 months: Audi

Gross sales of luxurious automobiles in India ought to breach the 2018 peak of round 40,000 items subsequent 12 months, on again of robust client demand after the pandemic, mentioned a high govt at German luxury-car firm Audi.

The automaker is optimistic of development prospects given the demand momentum it has witnessed within the Indian market within the first half of the 12 months.

Trade estimates that round 17,000 luxurious automobiles have been bought within the nation throughout January-June this 12 months, which is a rise of 55% over the 11,000 items bought within the year-earlier interval. Upwardly cellular shoppers proceed to buy top-end automobiles, regardless of inflationary pressures and lengthy ready intervals.

The luxurious automobile trade is poised to make the leap into the following stage of enlargement over the following few years, Audi India head Balbir Singh Dhillon advised ET. “Within the luxurious automobile section, we anticipate the momentum to proceed within the second half of the 12 months. Gross sales haven’t solely been good, (however) there are additionally first rate buyer orders. Pent-up demand, in addition to new product launches have helped shore up volumes. There’s lots of positivity out there.”

Whereas globally there are a number of main challenges, the Indian financial system appears resilient, Dhillon mentioned. “At the same time as FPIs (overseas portfolio buyers) are shifting out, Indian buyers are investing out there. We really feel India will develop and develop strongly. This 12 months, we (luxurious automobile makers) needs to be coming very near the earlier peak and thereafter take a leap and get just a little bigger share of the general passenger automobile market,” he mentioned.

Luxurious automobiles now account for only a 1.0-1.5% share in India’s complete automotive gross sales, which is among the many lowest on this planet.

Dhillon was talking on the sidelines of the launch of the brand new A8 L on Tuesday. The automotive is priced at Rs 1.29 crore for the celebration version and Rs 1.57 crore for the expertise version. That is the second launch for the corporate this 12 months, after the Q7 SUV.

Dhillon mentioned provide challenges have been anticipated to proceed for some extra time. “Whereas we positively anticipate to develop in robust double-digits within the second half, it’s troublesome to foretell numbers within the present atmosphere given provide constraints,” he mentioned.

Audi’s India gross sales grew 49% to 1,765 items within the first six months of 2022.

The corporate has plans to launch just a few extra fashions this 12 months to take care of the expansion momentum. Dhillon declined to share the quantity or the specifics of the remaining merchandise scheduled for launch.

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