Electric Drive

THE COUNTRY'S CAR MARKET IS UNDERGOING A TRANSFORMATION AS HIGH-NET-WORTH INDIVIDUALS OPT FOR LUXURY ELECTRIC CARS TO MAKE A 'RESPONSIBLE' STATEMENT

- BY ASTHA ORIEL

THE SYMBOLS of wealth are evolving. Where once a throaty V8 or a chauffeur-driven limousine marked status, today, it's the quiet hum of an electric motor. Luxury in cars is no longer measured by speed and leather upholstery but sustainability, design, and the promise of a better future.

The luxury electric vehicle (EV) segment grew 11% in the first half of CY2025 as against just 6% in the same period last year. At the heart of this exorbitant surge are Gen Z and millennial buyers. "The luxury electric segment in India is seeing strong interest from young, successful people. They are environmentally conscious and looking to connect with a brand committed to sustainability," says Hardeep Singh Brar, President, BMW India.

Around 65% of BMW and MINI EV customers are below 45 years. In the case of BMW iX1 Long Wheelbase, the average age of the customer is even lower (33% are below 39). In August, BMW India became the first luxury carmaker to sell 5,000 electric cars.

The rise of young entrepreneurs and a strong economy are also driving the luxury electric car market, says Balbir Singh Dhillon, Head of Audi India. "These buyers are not only younger but also more digitally connected. They actively engage with online research, use configuration tools extensively and show a strong interest in home charging solutions, reflecting a tech-savvy and forward-looking mindset compared to traditional buyers of luxury cars," says Dhillon. At Audi India, the average age of EV buyers is 46. At present, Audi has four electric car models in India—RS e-tron GT, e-tron GT, Q8 e-tron Sportback and Q8 e-tron. The company plans to expand its EV portfolio by 50% till 2030.