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Market Research Report

India Luxury Cars Market Outlook: By Vehicle Type, By Feature Type, By Buyers Type, By Geography with COVID-19 impact | Forecast Period 2017-2030

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India Luxury Vehicles Market

The Indian auto industry is one of the largest automotive industries across the globe and the industry also accounts for more than 8% of the country’s GDP. As per the data available major players in the luxury vehicle segment such as Audi and BMW witnessed a significant fall in sales in 2016, due to demonetization and ban on diesel vehicles in Delhi-NCR. Audi India, once the luxury vehicle market leader, sold around 7,800 units in 2016, 30 per cent lower than the 11,192 units sold in 2015. On the other hand, Mercedes, the market leader in the luxury cars segment sold 13,231 units in 2016, down 1.8 per cent from 2015. However, it is expected that luxury vehicles market to showcase a better performance coming years and the market will expand by more than 10% in 2017, and 42% and 21% in 2018 and 2019, respectively.

Goldstein Market Intelligence analyst forecast the India luxury vehicles market to grow at a CAGR of 18.2% during the period 2017-2030. Moreover, Indian luxury vehicles sales reached to 33,279 units in 2016. Further, the luxury vehicles market sales are likely to surpass 120,000 units by the end of the forecast period, owing to availability of strong financing options and a focus on localization of parts and manufacturing.

India Luxury Vehicles Market Size Segmentation

By Vehicle Type

  • Luxury Sedans
  • Ultra-Luxury Sedans
  • SUVs
  • Sports Cars
  • Compact and Subcompact Luxury Cars

By Feature Type

  • Standard Features
  • Customized Features

By Buyers Type

  • New Luxury Car Buyers
  • Pre-Owned Luxury Car Buyers

By Geography

  • Tier- I Cities Luxury Vehicles Market
  • Tier- II Cities Luxury Vehicles Market
  • Tier- III Cities Luxury Vehicles Market

On the basis of vehicle type, luxury sedans accounted for the largest revenue share of more than 60% luxury vehicles market in India in 2017. Moreover, SUVs are likely to be the fastest growing vehicle segment at a CAGR of +20% over the forecast period.

India Luxury Vehicles Market Drivers and Restraints, Consumer Trends

According to our India luxury vehicles market study on the basis of extensive primary and secondary research, one of the major trend that driving the growth of luxury vehicles market is numerous product introductions across price points and ramp-up of dealer network in emerging cities. In 2015, Mercedes, Audi and BMW, the leaders in Indian luxury vehicles market – accounted for about 40 product introductions, include new vehicles as well as variants of existing line up.

According to the report, major driver in Indian luxury vehicles market are growing income, expanding product lines and affordable finance options. Between 2015 and 2016, India has witnessed a 12% increase in ultra-high net worth individuals (UHNWIs) and is projected to grow at 150% over the next decade.

Further, the report states that one challenge in India luxury vehicles market is the government initiatives to boost the sales of electric vehicles and regulations including banning diesel vehicles in national capital region (NCR) are expected to hinder the market growth in tier-I cities across the country.

Geographically, Tier-I cities accounted for the highest revenue share of luxury vehicles as the major sales of luxury vehicles are growing significantly in Tier-I cities. Tier-II cities are the most opportunistic and fastest growing markets and are expected to dominate the market in coming years.

Covered in This India Luxury Vehicles Market Report

The report covers the present ground scenario and the future growth prospects of the India luxury vehicles market for 2017-2030 along with the total sales of luxury vehicles in every region. We calculated the market size and revenue share on the basis of revenue generated from the sales of luxury vehicles by various industry players across the India.

India Luxury Vehicles Market Outlook 2017-2030, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the India luxury vehicles market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. India luxury vehicles market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.

COVID-19 impact on "India Luxury Vehicles Market"

The report analyses and includes complete detailed chapter of 50-70 pages about the short term & long terms impact of COVID-19 outbreak on each segment of "India Luxury Vehicles Market" along with government measures to support the sector. It also showcases the current market landscape during COVID, impact of the virus on leading companies, expected demand schedule and supply chain in the industry and other various major factors. This will help you identify those companies that may benefit from this pandemic as well as those that will lose out.

Key Market Players

Our India Luxury Vehicles market report comprises of the following companies as the key players in the India luxury vehicles market:

  • Mercedes-Benz
  • The Volvo Group
  • Jaguar Land Rover
  • Audi AG
  • BMW
  • Toyota Motor Corporation
  • Volkswagen AG
  • Ford Motor Company
  • Lamborghini S.p.A
  • Rolls-Royce Holdings plc
  • Porsche AG
  • Aston Martin Lagonda Limited
  • Bentley Motors Limited
  • Ferrari N.V.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

For a full detailed overview, send us the sample request.

Key questions answered in this India luxury vehicles market report

  • What is the total market size by 2030 and what would be the expected growth rate of sales?
  • What are the total sales in 2016-17 (Units) and what would be the expected demand over the forecast period?
  • What are the key market trends?
  • What are the factors which are driving this market?
  • What are the major barriers to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities for the existing and entry level players?
  • What are the recent developments and business strategy of the key players?

We can provide two hour complimentary interaction with our analyst after the purchase of this market report. Details are imparted within the report.

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India Luxury Cars Market Outlook: By Vehicle Type, By Feature Type, By Buyers Type, By Geography with COVID-19 impact | Forecast Period 2017-2030

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