Luxury Car Sales in India Expected to Surge During Festive Season

The upcoming festive season in India is expected to boost the demand for luxury cars. Luxury car manufacturers are optimistic about increased sales during this period. Industry experts predict that between 10,000 and 12,000 luxury cars could be sold during the festivals this year. Mercedes-Benz India's Managing Director, Santosh Iyer, stated that while the domestic market experienced some weakness earlier in the year due to global instability, the festive season is expected to bring improved sales. He noted that purchasing in their segment is driven by sentiment and the recent reduction of the repo rate by the RBI. The company currently has 1,500 pending orders, with strong growth in sales of higher-priced models, which are increasing at a rate of 15-20%. Mercedes-Benz India experienced a 10% growth in the last quarter, selling 4,238 cars, while the overall luxury car sales in the domestic market increased by 5-8%.