A leading Lamborghini official claims that India has already reached its annual sales cap.

Lamborghini, an Italian manufacturer of ultra-luxury vehicles, has already exceeded its goal for India in the first month of 2023. Francesco Scardaoni, director of Lamborghini for Asia and the Pacific, told me that they had “already sold out for the year.”

The company, which sells a variety of cars in India starting at 3.8 crores, recorded record sales in India in 2022 with 92 units, an increase of 33% over the previous year. In 2021, 69 units were sold in the country, which was the highest number ever.

Over 100 automobiles are expected to be sold by the firm in India, and the majority of them have already been ordered. As the influence of COVID fades internationally, according to Mr. Scardaoni, businesspeople and ultra-high net worth individuals (UHINs) are driving the surge in sales. When asked if this is a “golden moment” for luxury automakers, Lamborghini’s senior executive responded, “Looks like anything we produce sells quite nicely.”

Speaking about the Lamborghini trend across the world, Mr. Scardaoni commented, “More are being purchased.” In our line of work, an order book often spans more than 18 months. For the record, the production for 2023 has already been consumed. Currently, we are planning for 2024. And the fact that the daily order book is still so high amazes us. However, Mr. Scardaoni voiced his reservations over India’s high import levies and insufficient road infrastructure.

Sharad Agarwal, the country manager for the firm, stated last month that Lamborghini will be introducing its first hybrid car globally and that attempts would be made to get the vehicle to India as soon as possible. “We will begin the next phase of our business this year, during which we will hybridise each model we provide.” Then, in 2024, we’ll release the hybrid Urus and the new hybrid V10, which will serve as both the Huracan’s replacement and a whole new model. PTI, in Mr. Agarwal’s opinion. He forecasted that by 2022, Asia Pacific and the world’s fastest-growing Lamborghini markets would include India.

Luxury automobile sales are booming in India, as seen by the announcement of record sales for 2022 by Lamborghini, Porsche, Mercedes-Benz, and Lexus. These businesses further predict that in the upcoming years, these record numbers will increase.

Audi India aims to increase sales by more than three times in two years.

According to Andre Konsbruck, VP of sales overseas at Audi AG, the India division of the German automaker Audi AG has set a goal to more than triple its sales volumes over the next two years, supported by multiple launches, better semiconductor availability, and strong demand for luxury cars in the luxury automobile market in India was also predicted by Konsbruck to reach 100,000 units during the following ten years. If the market remains strong and the economy expands, Konsbruck anticipates producing at least 14,000 units in India over the next few years.Audi India produced 4,187 units in 2022, a 27% increase in sales over the previous year.

Porsche India had its best-ever sales year and saw a surge of 64%.

Porsche India Private Limited, a part of the Volkswagen Group India and the German automaker Porsche, had already stated last month that 2022 was its strongest year for sales in the nation. Porsche India sold 779 units in total in 2022, compared to 474 in 2021, a 64 percent increase. The premium automobile manufacturer sold 309,884 units globally in 2022, a 3% rise from 2021’s sales. According to the company, sales during the year included 78 units of its brand-new electric Tycan, which was introduced in December 2021.

The Cayenne, our best-selling model, ended the year with 399 retail units, according to Manolito Vujicic, Brand Director of Porsche India. “It has been a good year for Porsche India, with a 69 percent gain in the sales of our SUV models,” he said. The good outcome, he said, shows that the increasing trend that began in 2021 was sustained through 2022.

In 2022, luxury automobile sales increased faster than the whole auto sector.

Luxury car sales in India increased more quickly than the domestic auto market in 2022, approaching the pre-pandemic peak amid the country’s rapid economic recovery. Around 37,000–38,000 luxury automobiles were sold in 2022, a 50% increase from 2021. However, the number fell just short of the record-breaking high of almost 40,000 units in 2018.

Comparatively, sales in the mass market increased by 23% annually to 37.9 lakh units in 2022, with cars costing above Rs 10 lakh making up 41% of sales. Demand was greater in the luxury sector as well, for more expensive car models with price tags over Rs 1 crore. The main three luxury vehicle producers in India—Mercedes-Benz, BMW, and Audi—then profited greatly from the surge in luxury automobile sales, with both Mercedes-Benz and BMW achieving record sales.

Santosh Iyer, MD of Mercedes-Benz India, told the magazine that the business sold 15,822 vehicles last year and “recorded our best-ever sales to grow our position in the domestic luxury vehicle sector.” The number exceeded the previous business record of 15,538 units in 2018 and was 41% higher than in 2021. According to Iyer, a stable economic recovery and strong corporate earnings-supported demand are driving India’s rising desire for luxury goods.

The average age of luxury automobile buyers in India has decreased over the past five years, according to a survey, and the average owner of a Mercedes-Benz S-Class is currently 38 years old, down from 45 years when the report was published half a decade ago. In addition, the market for luxury cars is seeing an increase in the involvement of women and paid professionals, who will account for 15% and 12%, respectively, of sales in 2022.

“Sales at the top end increased by 69% last year, demonstrating the remarkable growth we have had.” “We expect the trend to continue, with double-digit sales growth in the current fiscal year.” The MD of Mercedes-Benz India also spoke about the growing demand. The market for luxury automobiles has a lot of room to develop given India’s rising desire for them and the country’s high ranking among countries with the most billionaires.

Edited by Prakriti Arora