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Owning a Luxury Car is Now Easier than Ever Before
Many prestigious luxury car manufacturers are expanding their footprints in India to entice car buyers. It has never been cheaper to get a luxury car than now. Tough market conditions have forced luxury car manufacturers like Mercedes-Benz India, BMW India and Audi to offer interest-free loans on their cars. Some of their best-selling luxury cars such as Mercedes-Benz E Class, BMW X5 and Audi A6, come wrapped with interest-free loans. Swedish car manufacturer Volvo is offering 6% interest rate on its range of sedans and SUVs. Besides 0% interest on its E Class, Mercedes-Benz is also offering 5.25% interest rate on the new C Class.
Entry of new players in the luxury segment has intensified competition. Companies are planning new launches to boost sales and beat market slowdown. Various luxury models set for launch this year including the Audi Q5, Mercedes-Benz E Class, BMW 7 Series (diesel), Nissan Murano, Toyota Land Cruiser and its luxury Lexus range and Honda Acura range.
The BMW has already introduced four new models this year and another three models including petrol and diesel variants of its top-end sedan 7-Series are expected. The BMW X5 is pitted against several new entrants, such as the Mercedes-Benz New M Class SUV and the Audi Q5. German premium car manufacturer Audi has introduced the new A4, A6 and the Q7 in the country this year.
Entry of new players in the luxury segment has intensified competition. Companies are planning new launches to boost sales and beat market slowdown. Various luxury models set for launch this year including the Audi Q5, Mercedes-Benz E Class, BMW 7 Series (diesel), Nissan Murano, Toyota Land Cruiser and its luxury Lexus range and Honda Acura range.
The BMW has already introduced four new models this year and another three models including petrol and diesel variants of its top-end sedan 7-Series are expected. The BMW X5 is pitted against several new entrants, such as the Mercedes-Benz New M Class SUV and the Audi Q5. German premium car manufacturer Audi has introduced the new A4, A6 and the Q7 in the country this year.
Premium Car Firms go on Network Expansion Spree
German luxury manufacturer BMW is expanding its network base in India in tier II cities such as Coimbatore, Jaipur, Ludhiana, and Lucknow, in its efforts to gain the number one spot in the luxury car segment by 2010. It will also add two showrooms in Gurgaon and West Delhi to double its presence in the capital city. Currently, the company has 12 dealers across 10 cities and will add 10 more dealers in tier II cities by the end of 2010. The company expects each dealer from tier II cities to contribute about 30-40 cars annually. The standards of BMW dealerships are the same in both tier I and II cities, while those in small cities will showcase only about one-two cars.
The Audi sells its entire vehicle array comprising the A8, Q7, A4, A6, TT and the R8 through 12 dealerships which are located in various places such as Delhi, Gurgaon, Chandigarh, Mumbai, Pune, Bangalore, Hyderabad, Ahmedabad, Ludhiana, Chennai, Kochi and Kolkata.
The Audi sells its entire vehicle array comprising the A8, Q7, A4, A6, TT and the R8 through 12 dealerships which are located in various places such as Delhi, Gurgaon, Chandigarh, Mumbai, Pune, Bangalore, Hyderabad, Ahmedabad, Ludhiana, Chennai, Kochi and Kolkata.
Fastest Growing Market
The planning and efforts being made by luxury auto firms are paying off in terms of increasing sales and creating brand awareness in cities and towns. The sales of premium cars have exceeded expectations with overall sales growth of 22% in financial year ‘09. This achievement makes luxury cars the fastest growing market. Meanwhile, luxury vehicles priced above Rs 20 Lakh also posted 34% growth in sales in the last fiscal to 8,313 units, the highest among all car segments.
World’s largest luxury car brand BMW has sold 992 cars and gained 15% in the first quarter of 2009. It has surpassed Mercedes-Benz which has been the leader in India’s premium car sector for over a decade. According to the Society of Indian Automobile Manufacturers (SIAM), BMW had sold 2,742 units while Mercedes-Benz sold 3,172 units during the last fiscal.
The third largest premium player, Audi clocked robust growth of 56 per cent sales in India for the third consecutive month in March 2009. It sold 162 vehicles in March 2009, as compared to 104 cars sold in March 2008 and 113 cars in February 2009 in comparison to 58 vehicles sold in the same month last year.
World’s largest luxury car brand BMW has sold 992 cars and gained 15% in the first quarter of 2009. It has surpassed Mercedes-Benz which has been the leader in India’s premium car sector for over a decade. According to the Society of Indian Automobile Manufacturers (SIAM), BMW had sold 2,742 units while Mercedes-Benz sold 3,172 units during the last fiscal.
The third largest premium player, Audi clocked robust growth of 56 per cent sales in India for the third consecutive month in March 2009. It sold 162 vehicles in March 2009, as compared to 104 cars sold in March 2008 and 113 cars in February 2009 in comparison to 58 vehicles sold in the same month last year.
Car Modification is Trendy and Cost-Effective
Car modification experts are leaving no stone unturned to cut costs. You still cannot expect a coupe for the price of a Maruti 800 but for double that amount, you might be able to drive out a BMW or Mercedes. That’s because, car modification has become budget-friendly. Now, for anywhere between Rs 5 lakh and Rs 6 lakh, modification gurus are willing to build you a brand new customised Merc or Beamer.
New cars such as the Honda Accord, Skoda RS and the Honda Civic cost more money, while for around Rs 2.5 Lakh, old BMWs and Mercedes can be picked up from the used car market and modified. Merc and BMW cars do not require major overhauling as their build quality is excellent and they are mechanically well-suited to Indian road conditions.
The cars that are being overhauled are usually BMW 3-Series, Mercedes E-Class and sometimes Toyota Supra and Mitsubishi GTO. Car studio owners say all these cars show little or no defects other than bodywork issues such as rust and dents. The trend of purchasing old cars and restoring them has become a big hit among auto enthusiasts.
New cars such as the Honda Accord, Skoda RS and the Honda Civic cost more money, while for around Rs 2.5 Lakh, old BMWs and Mercedes can be picked up from the used car market and modified. Merc and BMW cars do not require major overhauling as their build quality is excellent and they are mechanically well-suited to Indian road conditions.
The cars that are being overhauled are usually BMW 3-Series, Mercedes E-Class and sometimes Toyota Supra and Mitsubishi GTO. Car studio owners say all these cars show little or no defects other than bodywork issues such as rust and dents. The trend of purchasing old cars and restoring them has become a big hit among auto enthusiasts.
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