The last year has not been too good for luxury car segment and as per industry reports, the current year is expected to follow the same pattern. Experts believe that just like the year 2013, luxury car sale will continue this way in the year 2014 as well. The reason behind this forecast has been given General Elections that are going to be held in the month of April and May. This will result in slowdown.
Expected growth figures in the year 2014
As per industry players, the luxury car segment will grow not more than seven to eight percent in the year 2014. When comparing growth figures, it is seen that in the year 2012, 28 K units were sold and in the year 2013, 32 K units were sold thereby registering a reasonable growth. Some automobile manufacturers are quite positive about growth in luxury segment and are foreseeing a bright future though some slowdown is expected due to impending elections. Audi was the company that sold maximum luxury cars reaching 10,002 mark in the year 2013. The company is expecting to cross 10K mark this year as well despite volatile market.
Mercedes Benz figures
32% growth rate was gained by Mercedes India in the year 2013. It sold 9.003 units last year in comparison to 6840 units in the year 2012. BMW has not announced its sales figure so far. According to a forecast made by HIS Automotive, 50 K mark is expected to be crossed in the year 2014. Many automobile manufacturers may defer the launch of new models due to unstable political environment. The cars priced between 20-30 Lakh have been sold in huge volumes in the year 2013. The segment is expected to clock more volumes in the current year. Luxury segment may continue at the same pace.