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Luxury car segment ended 2024 on a muted note despite robust demand
January 11, 2025
|Financial Express Kochi
INDIA'S LUXURY CAR market, represented by five major automotive brands, saw paltry growth in 2024 as supply chain issues impaired the upturn despite robust demand.
While Mercedes-Benz, BMW and Jaguar Land Rover (JLR) achieved double-digit growth in sales volumes, a decline for Audi and Volvo weighed on the overall performance of the segment.
The five luxury car brands collectively recorded sales of 47,562 units in 2024, a growth of 3% compared to 2023. Mercedes-Benz maintained its leadership, registering a 12% increase in volumes to 19,565 units, while BMW grew by 11% to 15,721 units. Together, these two German giants accounted for 75% of the segment's sales.
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