The Bentayga is one of the five super luxury model (priced above Rs 1 crore) that made their debut in the country in the first few months of this year.
Now, those who can afford these sleek models are spoilt for choice (see chart). And, a healthy demand has prompted luxury brands such as Ferrari, Aston Martin, Maserati, Bentley and Lamborghini to drive into the country.
In the past four months, launches of luxury and super luxury cars have sped ahead of launches in non-luxury one.
Lalit Choudary, managing director, Infinity Cars, said, “We just delivered the Aston Martin Vanquish, priced at Rs 7 crore to a Mangalore-based buyer. We sold between eight and 10 cars in the past 12 months, whereas in 2014, we sold six or seven cars only. The last few months have been pretty good.”
Aston – an “invisible” model of which was made famous in the 2002 James Bond flick Die Another Day – operates in the price band of Rs 2.5 crore to Rs 6 crore.
But, Aston Martins are not the only one disappearing from the showrooms of dealers and seller into the garages of the owners.
Notwithstanding, 184-per cent import tax Lamborghini, went ahead with the launch of the Huracan Spyder early this month. It is priced at Rs 3.89 crore.
The convertible sports car has a top speed of 324 kmph. Buyers have pre-booked it, even as 135 Lamborgs are already burning rubber on Indian roads.
The sustained growth in demand, despite a jump of 50 to 70 per cent in prices because of tax rise and unfavourable movement of money, for super luxury cars in the past five years is remarkable, claim experts.
Now, Tier-II and -III residents are fuelling the growth. Some of these purchases are being made by selling lands.
Kumar Kandaswami, senior director, Deloitte India, said, “The year ahead looks promising for luxury cars. With corporate profits expected to improve, luxury car acquisition as a part of compensation could go up.”