Know the Luxury Car Market 2021 Expecting Huge Demand in Upcoming Years
Do you want to buy Luxury Car in India? then read this article to know more.
A four-wheeler is a necessity in today’s life, be it day-to-day commute or long-distance haul. Pre-owned exotic cars are gaining popularity rapidly, and the luxury car market expects huge demand in upcoming years. Reliability and comfort are two key factors while opting for luxury cars in India, and generation Z is always on the lookout for exciting options while buying a car. The luxury segment has become affordable due to the availability of new dealerships and an ever-increasing network of service centres. Be it BMW, Audi, Mercedes, and the like, car manufacturers have shifted their focus on affordability and accessibility to premium features.
The luxury car market is on the rise
Indian roads and highway infrastructure has improved manifold over the years, leading to smoother connectivity to remote, suburban areas and unexplored destinations. This has boosted the morale of luxury car manufacturers. According to a study conducted in the year 2020, the Indian luxury car market was valued at over $1 Billion and is expected to cross the $2 Billion mark by 2026. Pre-owned luxury SUVs are gaining more popularity in particular because of more space and high performance in tough conditions.
Why are people choosing luxury car brands?
The easy availability of pre-owned premium cars made it possible for people to try out these maintained cars first before going for the real deal. People choose luxury car brands because of better financing options, lower prices, and better facilities at dedicated dealerships. Dealerships like Mahindra First Choice offer rigorous testing on used luxury cars for sale, and paperwork is done seamlessly, which attracts consumers more than before. Key points highlighting the increasing demand are:
- Affordability of used luxury cars
- Smooth after-sales service by dedicated dealerships
- Easy availability of loans and finance
- Hassle-free paperwork
- No extra import tax or duty as compared to brand new luxury cars
Also read: How to buy your dream luxury car?
Future demand for luxury car brands
Used Mercedes Benz cars or pre-owned Audi cars are two of the most popular and affordable cars currently ruling the Indian market overall. The demand for other cars such as used Lexus or Porsche is more concentrated in big metropolitan cities where big businesses thrive well. The current Covid situation has proved to be a setback for luxury carmakers. Still, industry specialists are positive that the demand will rise owing to more affinity towards the personal vehicle and a wanderlust that will take over the youth after being locked into their houses for prolonged periods. According to an estimated projection, luxury car brands will see a rise in demand in the coming years which is attributed to the following factors:
- Top manufacturers introducing new features
- Relaxation on automobiles sale/purchase by the Indian government
- Better financing through different channels
- Attractive design and improved comfort
- Lower resale time of new vehicles, which means more pre-owned cars available than new ones
Entry-Level Luxury Cars in India
In this segment, entry-level luxury cars are covered. Let’s take a look at some of the popular cars to watch out for:
For more info read this article: https://wheelyfine.com/luxury-car-market-2021-trend-demand-top-brands/
About the Creator
Wheelyfine
Most people dream of owning a luxury car, and it is a passion for many to drive one. We now want to make this dream and passion become a reality with our expert knowledge of pre-owned luxury cars. Visit here: https://wheelyfine.com/
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