Indian Luxury Car Market Gears Up for Festive Sales Boom

The Indian luxury car market is poised for a boost as the festive season approaches. Manufacturers are anticipating a rise in sales, aiming to overcome the effects of global economic uncertainties. Projections indicate that between 10,000 and 12,000 luxury cars could be sold during the festive period. Santosh Iyer, the Managing Director of Mercedes-Benz India, explained that initial market conditions were impacted by global instability. However, the festive season is expected to drive a positive change. He emphasized the segment’s dependence on consumer confidence. Despite ongoing geopolitical concerns, the reduction of the repo rate by the Reserve Bank of India is viewed positively as the festive season begins, with expectations of stronger sales performance.