New Delhi: Luxury car companies Mercedes-Benz, Lexus and Audi are expected to continue their sales momentum in the current festive season. He says that the demand for expensive vehicles is very good during the festive season. Santosh Iyer, Managing Director (MD) and Chief Executive Officer (CEO), Mercedes-Benz India, said that this year’s festive season seems to be better than last year.
He said, ‘This year the festive season will last for four months and we are optimistic about it as we have had a very positive start with ‘Onam’. Lexus India President Naveen Soni said that the luxury car market in the country is continuously growing. He said, the industry is excited by the demand for expensive cars this year. If we look at different segments, the luxury car market is growing at a fast pace.
He said the increasing number of people traveling along with high net worth individuals (HNIs), young population, rising disposable income, stable economic growth are driving this growth. Audi India chief Balbir Singh Dhillon said the company has sold 3,474 vehicles in the first half of 2023, which is a 97 percent increase on an annual basis. This year the festive season is considered to be of 68 days. It is from 17th August to 14th November.