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AUDI BULLISH ON INDIA; EXPECTS LOW LUXURY CAR PENETRATION UNTIL TAX RATIONALIZATION
The Business Guardian
|February 07, 2024
Audi anticipates that the growth rate of India’s luxury car market will decrease to the low double digits in 2024, contrasting with the approximately 25 percent growth seen in 2023
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A senior Audi official, the German automaker remains optimistic about India but anticipates that luxury car penetration will remain limited until high taxes are reduced. Audi predicts that the growth of India's luxury car market in 2024 will slow to low double digits from the previous year's approximately 25 percent, contrasting with the higher rates seen in Southeast Asian nations.
"The overall car industry is growing, as well as the luxury segment is growing.
Last year was one of the biggest numbers that the industry could achieve, which is also in line with the overall growth of the country," Audi India Head Balbir Singh Dhillon told.
This story is from the February 07, 2024 edition of The Business Guardian.
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