Due to the COVID-19 Pandemic, the country’s luxury or expensive cars market has gone back five to seven years. A top official of the German automobile company, Audi, said this.
Audi India head Balbir Singh Dhillon said that the luxury car market will take two to three years to reach 2014-15 levels again. He said that now the situation is improving after the problems caused by COVID-19. However, our sales will see an increase in the lower base effect only next year.
Dhillon said, “We are all saying that sales are increasing and the perception is positive. We will also register growth next year. The base effect has gone down significantly. He said, “ The number of cars we sold in 2014-15, we will not reach that level immediately next year. In such a situation, the pandemic has pushed us back five to seven years.”
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Sales of luxury cars in India stood at 30,000 units in 2014. In 2015, it reached 31,000 units. Sales of these companies stood at stood at 40,340 units in 2018. Whereas, sales of these companies drops to 35,500 units in 2019.
When asked, how long the situation in the luxury car industry will improve? Dhillon said that it certainly will not happen next year. It will take two to three years for us to reach that level. The top five companies in India’s luxury car market include Mercedes, BMW, Audi, JLR and Volvo.