Indian Luxury Car Market Ruled by German Companies, Says Smart Research Insights in Its Report Published at MarketPublishers.com
17 Jun 2016 • by Natalie Aster
LONDON – In 2015, the Indian market for luxury cars registered growth. This space was dominated by companies from German, namely BMW, Audi and Mercedes Benz. Combined sales of these players were around 31,000 units in 2015, while total sales in this marketplace amounted to 35,300 units. Sales in this market are forecast to hit the 87,300 units mark by 2020.
New product launches taking place across price points together with enhancement of a dealer network emerge to be major forces driving the Indian marketplace. As of 2015, there were around 50 launches of new products in the local market for luxury cars.
Focus on localization of parts and robust financing options’ availability are some other important drivers.
Penetration of luxury cars in the country in lower than in some other countries - it stands at 1%, while it is 8% in China, 2.7% in Brazil and 5% in Japan.
Regulatory issues are likely to adversely impact growth of the Indian marketplace, but this market is set to show robust growth.
Globally, the demand for such vehicles is dominated by India and China. The European marketplace, in the meantime, has started to recover.
Cutting-edge research report “Indian Luxury Car Market: Sector Study 2016” developed by Smart Research Insights offers a comprehensive guide to the Indian market for luxury cars. The study contains an all-round overview of the marketplace and covers its statistics and performance in detail.
The report highlights market drivers and focuses on localization. Investigation of the competitive environment and players’ profiles are on hand in the research study. The research report also looks at performance of some major countries. Historical data together with forecast figures are included in the report, as well.
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More reports by Smart Research Insights can be found at its page.