Audi India anticipates 2023 to be the best year ever for the premium car segment after recording 27% growth in 2022 with sales of 4,187 vehicles.
If there are no unforeseen circumstances or “black swan” events, 2023 can be a record year, according to Balbir Singh Dhillon, head of Audi India. All other indicators point to a return to complete normalcy, according to Dhillon. “We are not yet fully out of the semiconductor shortage crisis, and inflation is still a concern,” he said. “The industry can anticipate reaching the peak of 2018, which was around 40,000 units, this year.”
Premium or luxury cars are loosely defined as those sold by Mercedes-Benz, BMW, Audi, Volvo, Jaguar Land Rover and Lexus.
As per industry estimates (all premium carmakers don’t share sales data with the Society of Indian Automobile Manufacturers), about 38,000 premium cars were sold in India in 2022 — led by Mercedes-Benz (15,822 units), BMW (11,268 units) and Audi (4,187 units).
The German automaker will introduce the Q8 e-tron, its sixth electric vehicle model, as a CBU (completely built unit) import in India later this year. It currently offers the e-tron GT, RS e-tron GT, e-tron, and e-tron Sportback, all of which are fully imported electric vehicles.
The customs duty on imported electric vehicles that do not have a cost, insurance, and freight (CIF) value of more than $40,000 was increased from 60% to 70% in the Union Budget FY24, increasing the cost of these vehicles. While Dhillon remained silent regarding the move, he claimed that the Budget’s heavy emphasis on infrastructure will help boost sales of high-end vehicles.
