The Indian luxury vehicle market, which is regarded as one of the quickest growing markets in the Asian continent after China has reportedly weather downturn much better as compared to mass market vehicles. As per the report, the overall passenger car market is likely to end in 2011 with over six percent growth; the luxury vehicle market will manage healthy 45 to 50% growth. The report stated that Audi, Mercedes Benz and BMW is expected to clock approximately 22,000 cars in 2011, which is up from 15,000 to 16,000 as compared to 2010. Nevertheless, this tally is below estimate made at the starting of 2011 and overall curve has dipped because of flat growth in last three months.
The luxury automobile manufacturers are planning to launch new cars and aggressive push into tier-2 markets will keep growth story integral. Not just for BMW, its X1 Sport Activity Vehicle has helped entire class grow up to 50 percent mark, while Audi Q7 and Q5 have helped Audi provide a wonderful performance even in lackluster month such as November. It is an ordinary assumption in the market that luxury class is untouched with general slowdown in automotive industry because of increased interest rates on loans and rising petrol price hikes.
It was mentioned that Audi Q5, 117 models from the month of January to November has helped company exceed its annual sales target for 2011 in first 11 months, recording 83% growth. In November, it clocked 66% growth marketing 425 models than 256 in November 2010. In contrast, Mercedes Benz and BMW have modest growth rates; though still leagues ahead of mass market companies. Mercedes Benz India was optimistic in 2nd half of 2011 with 31% growth year-on-year from January to November with 6698 models, which is 1588 units more than 2010. BMW has recorded 70% of growth from January to November.
Even other luxury automobile manufacturing companies such as Rolls Royce expect decent performance for 2011 clocking more than 100 vehicles, while Jaguar Land Rover, Tata Motors owned company is likely to clock approximately 1300 models up from 900 models in 2010.
