Poster dreams to reality: Why India’s supercar sales are soaring? – Times of India

The supercar scene in India is experiencing remarkable growth, and 2024 is expected to see sales reaching around 1,200-1,300 units. Clearly, people are no longer shying away from turning their poster dreams into reality. Several factors are fueling this trend, ranging from shifting cultural norms to improved infrastructure and a booming economy. Let’s understand the factors that have led to this growth.
In recent years, a growing number of well-off Indians have started to consider supercars as a symbol of status and achievement, like in the cases of luxury watches. Social media has also played a crucial part in amplifying this trend, exposing people to the global appeal of brands like Lamborghini, Porsche, and Audi. “India’s luxury car market is booming,” said Balbir Singh Dhillon, Head of Audi India, “driven by a strong economy, rising disposable income, and an automotive culture that favours premium, tech-driven vehicles.” Audi’s high-end models, including the RS range, have seen demand climb with a 40 percent sales increase in 2023 alone, thanks to this growing interest.

Balbir Singh Dhillon, Head of Audi India.

Besides that, Indian supercar enthusiasts also have more reasons to indulge in performance vehicles than they did a decade ago. Improved road infrastructure and the growing number of dedicated racetracks allow owners to experience these machines’ full potential safely. Interestingly, several brands have lately started organising brand-exclusive drive events to engage more customers and retain the existing ones through such experiences.

Manolito Vujicic, Brand Director of Porsche India.

Porsche India has seen a similar rise in demand. Manolito Vujicic, Brand Director of Porsche India, highlighted the impressive growth in their sales, “The first half of 2024 has been our best ever… we achieved 93 retails of the iconic 911 sports coupe, and the potential for further growth in this expanding market remains strong.” With a presence in 10 cities, Porsche says that it is poised to capture more market share as interest in premium cars increases.

Vikram Pawah, President, BMW Group India.

This excitement isn’t limited to Porsche and Audi. BMW India, particularly with its M series cars, has witnessed incredible growth, with demand for M cars soaring tenfold compared to pre-pandemic levels. “In 2023, the M cars portfolio saw an exceptional growth of over +250 percent. XM, M4 Competition, M2, M340i are among the most popular models leading this surge,” said Vikram Pawah, President, BMW Group India.

Santosh Iyer, CEO of Mercedes-Benz India

Mercedes-Benz has similarly benefited from this trend, with its exclusive Top-End Vehicles (TEV) lineup finding increased favour among Indian buyers. Santosh Iyer, CEO of Mercedes-Benz India, noted the impressive growth of their flagship Maybach range, as he said, “The Maybach segment in particular grew at an outstanding pace of 125 percent, remaining the most desirable brand for our top customers, including prominent business figures and entertainment personalities.” Mercedes’ TEV lineup, which includes the AMG and S-Class models, now comprises 25 percent of the brand’s sales volumes, indicating a strategic shift in customer preference toward more exclusive, personalised options.

Philippe Claverol, Head of Overseas, Maserati.

Meanwhile, Maserati says that is an exciting as well as a rapidly growing market for the brand. Philippe Claverol, Head of Overseas Maserati, shared the brand’s excitement for the Indian market, stating, “We’re already witnessing strong demand, particularly from Delhi where we are actively receiving orders and delivering cars.” The brand is set to expand further into cities like Bangalore, aiming to connect with India’s affluent buyers.
From a rise in disposable incomes to an evolving taste for luxury, performance and unparalleled thrill of high-end models, India’s supercar market is booming, and industry giants are ready to meet this growing demand with a range of high-performance, luxury options slated for future launches.

Another key factor to be noted is that Indians have shied from displaying their wealth in the past due to multiple social perception issues. However, with societal changes coming in due to the new generations and social media, many Indians are now happy to make a statement about their achievements and few things on the planet reflect abundance of wealth better than a supercar!