While the Maruti Goluchi is entering the market car sales in India, the details of the luxury cars sold in the last financial year (April 2023 to March 2024) have also been revealed. Accordingly, the seven luxury car companies together sold a total of 45,311 luxury cars in India last fiscal year. This is 20.5% higher than the previous financial year.
Among luxury cars, the demand for SUVs is slightly higher. Demand for luxury SUVs increased by 34% over the previous fiscal year, with 27,489 luxury SUVs sold in the last fiscal year alone.
German automakers hold the top three positions in luxury car sales. Mercedes-Benz topped the list with 37% market share, selling 17,013 cars. 56% of the luxury cars sold by the company are SUVs and 44% are sedans. The long-wheelbase E-Class sedan is the best-selling Benz model with sales of 3,561 units.
BMW is second behind Mercedes-Benz with 14,479 cars sold and 32% market share. The company’s sales comprise 49% of SUVs and 51% of sedans. With 2,652 units sold, the 3 Series Sedan is the best-selling BMW model. After that, there are 6 series, 2 series and 5 series models.
Audi is third with 15% market share, selling 7,027 cars. Also, the last financial year recorded a growth of 33% in sales compared to the previous financial year. With 1,965 units sold, the Q3 topped Audi’s sales, followed by the Q7 and Q5 models.
Apart from these three companies, all other companies selling luxury cars in India have a market share of less than 7%. Land Rover is at number 4 with sales of 3,061 units in India and Volvo is at number 5 with sales of 2,522 units. BMW Group’s other brand, Mini, is ranked 6th in Indian luxury car sales with 937 units sold, while Jaguar is 7th with 272 units sold.
