Major luxury car makers are expecting record sales in 2022 due to the onset of the festival and strong demand. Even as the chip shortage continues, companies expect sales to improve during the current festivals.
Major luxury car makers are expecting record sales in 2022 due to the onset of the festival and strong demand.
Major luxury car makers are expecting record sales in 2022 due to the onset of the festival and strong demand. Even as the chip shortage continues, companies expect sales to improve during the current festivals. The sales of luxury cars in the country stood at around 40,000 units during the year 2019, which is the best ever sales recorded by the industry in a year.
What do experts say?
Lexus India President Naveen Soni told PTI that the industry has become stronger and there has been a steady recovery due to the not so severe third wave of the Kovid-19 pandemic.
Soni said the current year has been off to a good start for both the industry and Lexus India. Martin Schwenk, Managing Director and Chief Executive Officer, Mercedes-Benz India said that the company expects the strong sales momentum to continue during the second quarter in the coming festive period. However, challenges remain on the supply side, he added. He further said that the reason for this is likely to be the shortage of semiconductors during the festivals.
steady increase in demand
Audi India also said that demand has steadily increased over the past few months and the carmaker expects this to continue.
Audi India Head Balbir Singh Dhillon said that they are continuously working with their headquarters to get additional supplies for India to meet this growing demand.
Let us tell you that the auto industry expects that due to new offerings and increased production in this festive season, the sale of cars will be faster. However, the industry is cautiously optimistic about business post festivals. Automobile sales generally increase during the festive season. This year the festive season will start from Raksha Bandhan on 11th August and will continue till Diwali on 25th October. Vinkesh Gulati, president of the automobile dealers’ body, told PTI that he expects the festive season to be the best in terms of passenger vehicle sales due to new launches and better production activities.
(with language input)