Economy On Recovery Path: Luxury Car Sales Zoom In Q2 FY22 In India
New Delhi: While businesses are slowly recovering from the pandemic, luxury car sales have soared in the last quarter of this fiscal in India. The top three German luxury brands – Mercedes, Audi and BMW – have sold over 8.500 units between July and September of 2021-22 financial year.
Mercedes-Benz was the highest-selling luxury carmaker with 4010 units followed by BMW with 2,636 units. Compared to the last year, the sales have grown by around 90% for BMW.
Industry experts believe that the overall sales number would have crossed 10K mark had there been no semi-conductor crisis which has affected the automobile market throughout the world.
Vikram Pawah, president of BMW Group, told the Economic Times that top end of the market tends to recover first as it caters to people who generally have more disposable income and are more immune to economic factors.
The boom in sales in expected to continue into the fourth quarter of the year as well depending on supply issues.