A Luxury car is a styled, luxurious automobile intended for comfort and satisfaction of its owner or driver, sacrificing passenger space, cargo capacity and other practical concerns for the sake of style. The luxury cars are very expensive and its price range is above Rs 20 lakhs. Hence these cars are affordable and are preferred by high income group. A Luxury car segment is one which is packed with extra dose of luxury features, designed with perfection and beauty for a guaranteed appreciation. The vehicle has features that provide ultra modern facilities to pamper the passenger with great level of comfort in comparison to any other segment. Today owning a luxury car is a status symbol that speaks loud of your wealth. But unlike a small car or a sedan which is manufactured in a huge number for the masses the luxury car is manufactured in small numbers with a very expensive price tag that attracts only the few. In last few years big luxury car brands like Audi, Bentley, Volkswagen, Mercedes, BMW etc. have introduced their new and beautifully crafted luxury car in Indian market to attract the growing market in luxury segment .
HISTORY OF THE LUXURY CAR BRANDS:-
The German luxury car brand Mercedes-Benz had first-mover advantage as it had started operations in India in 1995 and there was no direct competition in this category. So, it remained ‘Numero Uno’ luxury car brand in India for more than a decade. Mercedes-Benz India Limited was established in November 1994 as a joint-venture between Daimler-Benz AG and erstwhile Telco (presently, Tata Motors). It has traversed a long journey starting with the launch of one of the most successful models worldwide – the Mercedes-Benz E-Class (W124) in March 1995. Mercedes India, now known as DaimlerChrysler India Private Ltd., has a state-of-the-art fully-equipped manufacturing unit in Pune. Mercedes-Benz is known for providing the Indian customers, latest models and technology following strict quality standards. The company considers India as one of its most promising markets. The Mercedes-Benz C-Class and Mercedes-Benz E-Class cars are locally manufactured while the Mercedes-Benz SL-Class cars are imported as completely built units (CBUs). The company offers S-Class, E-Class, C-Class, M-Class, CLS-Class, SLK-Class, CL-Class and the Maybach.
European Major BMW entered in India in 2006. The company with headquarters in Gurgaon and production unit in Chennai had initial investment of 1.1 billion rupees. It has swiftly developed both infrastructure and dealership network. The production plant at Chennai, established in 2007, has an annual capacity of 3000 units in a single shift and it produces BMW 3 series and BMW 5 series sedans. The rest of models- BMW 7 series, X3 and X5 are imported as CBUs. BMW 3 and 5 series account for 80% of the total sales of company in India, of which BMW 5 series has highest sales. BMW India, with its aggressive marketing, fast expansion of product profiles, strategic dealership location selection and supplementary financial service offering, has managed to wrest biggest market share from Mercedes-Benz. BMW and Audi, both focus on sportier features and new launches to encourage young buyers. Decrease in the average age of luxury car buyers is a favorable condition for this kind of selling strategy.
Audi India started operating in 2007 by establishing its own sales company in Mumbai. The company started production of Audi A4 in November 2007, followed by Audi A6 in 2008 in its Aurangabad plant. Rest of the models - Audi A8, Audi Q5 and Q7, Audi TT and super speed racing car Audi R8 are imported as CBUs. Audi invested significantly in brand building, marketing the product qualities and improving after sales services in India. Audi offers technology with composure and agility to current techno affluent Indian youth. Known for its technology, luxury and style, this German car maker has received five different awards by Indian auto...
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