While there are fears of slowing sales in India’s car market as the year progresses, one segment that expects no dip in demand is the luxury category, dominated by brands such as Mercedes-Benz, BMW and Audi.
For brands such as Mercedes-Benz and BMW, things have never been better as they make their way through what promises to be yet another record year. Mercedes-Benz India saw sales rise 9 percent to a record 9,262 units in the first half of 2024, while rival BMW saw a 21 percent jump.
- Mercedes SUVs account for 55 percent of total sales; EVs grew by 60 percent
- BMW is India’s first luxury carmaker to cross the 2,000 EV deliveries milestone
- Lexus India sales grew 14 percent in 2024 first half
Mercedes India sales in 2024 first half
Mercedes-Benz said it saw strong demand across its portfolio, particularly for SUVs, which constituted 55 percent of total sales. Notably, its top-end vehicles segment (cars with price tags above Rs 1.5 crore) constituted 25 percent of all cars sold in H1. Maybach was the fastest growing portfolio, growing by a whopping 108 percent in the period.
According to the company, EVs grew by 60 percent in H1 2024, accounting for 5 percent of total H1 sales. The company is hopeful of continued momentum in the second half as well, boosted by new launches. It is expected to launch six new models in the second half of the year, taking this year’s total to 12.
The latest to join Mercedes-Benz’s line-up has been the EQA 250+ EV, priced at Rs 66 lakh, and boasting of a range of up to 560km. With this, it now has four EVs in the Indian market. The company plans to double its BEV portfolio by year-end and is also constructing a network of charging points. “With some of the most awaited products lined up for the upcoming festive season, we expect the remaining quarters to continue the forecasted growth,” said Santosh Iyer, MD and CEO, Mercedes Benz India. “There’s a very strong infrastructure that we’re building up comprising 35 plus ultra-fast DC chargers, 100+ AC chargers and complementary wall box chargers. By the end of 2024, we aim to have more than 1,000 charging points,” he added.
BMW, Mini India sales in 2024 first half
Meanwhile, BMW Group India reported even stronger first-half performance, boasting a 21 percent increase in sales for BMW and MINI combined. The surge was driven by strong demand across their SUVs, luxury class models, and EVs.
BMW's EV sales, including models like the popular BMW iX, exceeded the company’s expectations with over 1,000 units sold. This makes BMW the first luxury carmaker in India to surpass the milestone of 2,000 cumulative EV deliveries. “BMW electric vehicles emerged as the top choice of luxury consumers when it comes to sustainable mobility – 397 units of fully electric BMW and MINI cars were sold in the first six months,” the company said. In the luxury category, the BMW X7 emerged as a top seller, highlighting the brand's dominance in the high-end market.
Audi India sales in 2024 first half
On the other hand, Audi India faced challenges due to supply chain disruptions, yet managed to retail 1,431 units in Q2 2024, marking a 37 percent growth over Q1 2024 (1,046 units). Despite these challenges, Audi remains optimistic about the market's long-term potential and continues to expand its pre-owned car business, which grew by 33 percent year-on-year.
“While the supply situation in Q2 2024 has improved compared to Q1 2024; it still played a limiting factor on our sales performance. We are confident that our supplies will normalise during the second half of this year and we will be able to better serve customer demand,” said Balbir Singh Dhillon, Head of Audi India, adding that demand remains strong.
Lexus India sales in 2024 first half
Japanese luxury brand, Lexus India, also saw a 14 percent increase in sales during the first half of 2024. The ES sedan accounted for 55 percent of total sales during the January to June period, and sales of the brand’s SUVs grew 60 percent in that time, compared to H1 2023.
Overall, the luxury car market in India in H1 2024 reflects a shift towards electric vehicles, with Mercedes-Benz and BMW leading the charge with their expansive EV portfolios and investments in charging infrastructure.
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