The wind is favourable for luxury and premium carmakers, with growth coming in from new launches and refreshers, much in contrast to industry growth.
The top-end carmakers have posted double-digit growth for the quarter ended June 30, while most of the manufacturers recorded their eighth month of consecutive fall.
“This segment is relatively less impacted by inflation, and the successful launches or refreshers also helped the companies to post growth. With its low-base, this segment will continue to see growth, even though it may not happen immediately,” said Kumar Kandaswamy, Senior Director at Deloitte Touche Tohmatsu India. Mercedes-Benz India recorded a 32 per cent rise in sales for the three-month period, which the company said was its highest in the last two years.
Audi India, the subsidiary of German luxury carmaker Audi, posted a 28.8 per cent growth for the quarter, while premium car manufacturer Honda Cars India Ltd (HCIL) posted a 45 per cent growth.
For Mercedes-Benz, the growth came in from its new launches, said its Managing Director and Chief Executive Officer Eberhard Kern.
The company launched three products – GL class, A Class and new E Class - during the quarter. According to company sources, Mercedes-Benz would continue to launch new models this year, even as it has readied the ‘B’ class diesel launch (slated on July 11).
For Audi India, again the growth came in from two new launches - R8 V10+ and A6 special edition – and its sports utility vehicles (SUVs). “Apart from the product line-up, our expansion into the regional markets also helped,” said Michael Perschke, Head, Audi India.
“We launched six models so far this year, and we aim to roll out another 4-6 new models and variants,” Perschke said, adding the company intends to sell about 10,800 cars this year.
For HCIL, the growth came following the launch of its entry-level diesel sedan Amaze in April, said its Senior Vice-President (Marketing & Sales) Jnaneswar Sen.
“Amaze has surpassed expectations, while other models such as Brio, City and CR-V also did well,” Sen added.