Luxury car segment expanding in India with new launches

Despite all the negatives witnessed in the last year, the new year 2021 seems to have started on a positive note for the automotive sector. With companies reporting a year-on-year growth in sales for the month of December on the back of high demand for personal mobility, an increased focus is also witnessed on the luxury car segment.

Luxury car makers including Audi and Mercedes-Benz among others are rolling up their sleeves for a double-digit growth are launching new models in the current year.

Recently, German luxury car maker Audi launched the Audi A4 at a price of Rs 42.34-46.67 lakh (ex-showroom, India), kick-starting Audi’s product offensive strategy for 2021. It is set to launch a new product every other month, the company said. Over half a dozen product launches are lined-up for the next 12 months by Audi.

“We are aiming to grow in double-digits this year with the planned new launches. We will have models covering all the segments,” Balbir Singh Dhillion, head, Audi India reportedly said.

German luxury car brand Mercedes-Benz also on Tuesday launched the 2021 Mercedes me connect on its flagship model, the S-Class Maestro Edition.

The tech distinctively brings Alexa and Google Home integration with Mercedes Me on the S-Class, as well as Parking Solutions with navigation. The connected car technology has been seen on the brand's recent spur of launches through 2020 and will be more actively available on new and existing products in 2021, according to the company.

The global luxury cars market size is projected to reach USD 655.0 billion by the end of 2027. The rising disposable income across the world will contribute to the growth of the market in the coming years. According to a report published by Fortune Business Insights, titled “Luxury Car Market Size, Share & COVID-19 Impact Analysis, By Vehicle Type (Hatchback, Sedan, and Sport Utility Vehicle), By Propulsion Type (ICE and Electric) and Regional Forecasts, 2020-2027” the market was worth USD 449.7 billion and will exhibit a CAGR of 9.3% during the forecast period, 2020-2027.

Meanwhile, luxury car maker Lamborghini is also bullish on 2021 and has new product launch in the pipe line. Lamborghini will first launch the Huracan EVO RWD Spyder. This will be followed by Huracan STO. More launches will soon follow, the company said.

Going ahead it looks like 2021 holds a lot more for not just the car manufacturers, but also the biking enthusiasts. Italian superbike maker Ducati revealed its expansion plans in India and it is gearing up to launch as many as 12 new BS VI-compliant models this year.

Ducati saw its launches getting held up in 2020 due to the coronavirus-induced disruptions. However, they got back on track with the launch of three BS IV-compliant bikes in December.

The new offering from Ducati’s stable includes all-new models like Multistrada V4, Streetfighter V4, Monster, SuperSport 950, Scrambler Nightshift with the updated versions BS-VI engines.

In fact, bookings for the BS-VI Scrambler Icon and Scrambler Icon Dark are now open, and can be made through the nearest dealerships at an initial payment of Rs 50,000.

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