The festive season in India is seen as a significant opportunity for luxury car manufacturers to boost sales. These manufacturers are hoping that the upcoming festivals will generate a surge in demand for luxury vehicles, mitigating the effects of global economic uncertainties. Experts predict that luxury car sales could reach between 10,000 and 12,000 units during this festive period. Santosh Iyer, the Managing Director of Mercedes-Benz India, explained that the domestic market faced some headwinds earlier in the year due to global volatility, but the festive season is expected to bring positive momentum. He added that consumer spending in the luxury segment is largely determined by market sentiment. The company currently has 1,500 pending orders, with substantial growth in high-value model sales, which are growing at a rate of 15-20%. Mercedes-Benz India recorded a 10% increase in sales in the last quarter, selling 4,238 cars, while the overall luxury car market in India saw a 5-8% increase.
