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Page 1: Luxury Car Segment in India

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LUXURY CAR SEGMENT IN INDIA

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The automobile industry in

India is the ninth largest in

the world with an annual

production of over 2.3million units in 2008.

In 2009, India emerged as 

Asia's fourth largest exporterof automobiles, behind

Japan, South Korea and

Thailand

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The luxury car market in India has registered a fair

amount of growthi

n the las

t few years

andis

 growing at the rate of 25% per year. A luxury car is a luxuriously styled automobile which is designedto give satisfaction and comfort to its owner.

A luxury car typically has carrying capacity of 6passengers. The luxury cars in the Indian marketare very expensive, with price tags that start fromRs. 20 lakh. Hence, luxury cars can only be

afforded by the people who belong to the highincome group and there are a lot of such takers in

the Indian automobile market.

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Purchase of luxury car gives

the buyer an immense amount

of joy which surpasses the

economic value of theproduct.

it is bought to satiate analtruistic need and the joy of  

possessing a piece of extreme

luxuryis

an endi

ni

ts

elf.

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Values of Luxury

Rarity/exclusivity

Highest quality

Know how

History, roots, dreams

Rewards: pleasure,

status

Emotion, experience

Custom made

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The various reasons for the growth of the luxury carmarket in India are: 

1. The economy is rising in the country which has given the peoplemore disposable income which they are spending in buyingluxury cars.

2. Various loan schemes have been launched by the automobilemanufacturers and the f inancial institutions. This has made it

very easy for the people to buy luxury cars and this has boostedthe luxury car market in India.

3. With the IT boom in the country many youngsters are earninghigh pay packages which enable them to buy luxury cars. Andthis have further given boost to the market of luxury car in

India.4. The government have formulated many polices such as the

relaxation of equity regulations and the reduction of importtariff s pertaining to the automobile industry. These have helpedto reduce the prices of the luxury cars, which in turn have led to

the growth of the luxury car marketin Ind

ia.

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For decades, German carmakersAudi, BMW and Daimler's

Mercedes have battled for pole

 position in the world's luxury car 

segment, and when the Indian

market opened, Mercedes was thefirst off the mark. But BMW,

which entered India late, in 2006,

has edged ahead as the clear 

leader, positioning itself as the

"ultimate driving machine" for the

young rich.

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BMW India Ranks as the Number One

in the Luxury Car Segment in India

BMW India is the number one in the luxury car

segment in India and portrays a symbol for

dynamic and forward striving people.

BMW India increased its market share in the

luxury segment of the Indian automotive market

to over 40% in 2009 (from 9% at the end of 2006).

With 3619 cars delivered to customers in the

calendar year 2009, BMW India has achieved the

³highest sales by a manufacturer in the luxury car

segment in a year´ till date.

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The various automobile companies manufacturing

luxury cars for India are:

BMWmanufacturers the BMW 530i and BMW 760li models

Rolls Royce manufactures theRolls Royce Phantom V 12 model

Porsche manufactures the 911Carrera, 911 Carrera S, and

Cayman S models

Daimler Chrysler manufactures

theMercedes Benz C and E class

models

Bentley manufactures theBentley Range and Bentley

Continental models

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Luxury car market in India have grown over

the last few years. That it continues to grow

more efforts must be made by the Indian

automobile industry and the government of India. And only then the luxury car market in

India will be able to reach its heights.

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1. www.google.co.in

2. www.busi

ness

world.i

n3. www.siamindia.com

4. www.images.google.co.in

5. www.business-standard.com6. www.business.mapsof india.com/automobile/

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