The 2020 volume sales of the luxury car In the Indian market goes record low. With lower ever sales in the financial year since 2010.
- A cumulative domestic 21,400 units were sold last year
- More than 34,000 units were sold in 2019
- With leading the sales chart by Mercedes-Benz
The volume in sales of the luxury car market in India has declined drastically in the last year. As the sales reduced to 21,400 units last year from January 2020 to December 2020, compared to around 34,000 units were sold in 2019 corresponding period, with 37 percent Decline in the sales. The prominent market leaders, Audi, BMW, Mercedes-Benz, Jaguar Landrover, and Volvo. As the new Decade has started, revisiting the previous one gives lots of stats to think about for the new one. Last year the overall sale declines have multiple reasons including, an overall lockdown, a slow economy, and a health crisis.
Although, Mercedes-Benz leads the way ahead of other German carmakers. The company records a cumulative domestic sales tally of 7,893 units last year. But as compared with the year 2019, the company records a sales decline of 43 percent, as against 13,786 units were sold in the year 2019. As always, the contribution to overall sales by luxury cars was just over 1 percent. Audi motors India performed even worse as only 1,639 units were sold between Jan 2020 to Dec 2020, as compared with the same period in the year 2019 4,594 units were sold with getting massive 64 percent sales to decline on a year-on-year basis, in the luxury car sale 2020.
BMW the top luxury brand has also seen a drastic sales drop by 31per cent in the year 2020, and it finished at 2nd rank in the overall luxury manufacturer sales list. We do expect the new year brings more fortunes for the luxury segment as well as the passenger vehicle segment, and a range of new products in the pipeline to boost the sales in 2021. In the final quarter of CY2020 luxury space seen some boast and momentum could continue later in the coming months. It is noted that the brands are looking for launching their entry-level vehicles for example like, Audi Q2 and BMW 2-series gran coupe. While further fully electric cars are not far away from introducing either. Let’s see how things work out for the luxury space this year.
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