Financial year ended with mixed results for luxury segment in India

Financial year ended with mixed results for luxury segment in India

Luxury automobile manufacturers have reported a mixed bag results in the last financial year. At one hand companies like Audi, Mercedes, BMW and other luxury car manufacturers churned good profit, on the other hand, companies also suffered from high base price, fuel price and interest costs.

The German automotive stalwart Audi has reported a staggering 11.51 percent growth in the year with 11, 292 units sold. The company has introduced the most powerful Audi model, the limited edition R8 LMX in India. The company has also opened showrooms in Guwahati, Ranchi and Bengaluru, and a second service center in Kolkata.

The company is satisfied with the performance as for two consecutive times, it has retained the leadership position in luxury car segment. The company has already planned to launch at least five models in India this year.

Mercedes-Benz has also reported good growth in this fiscal as the sales rose to 17.5%, which stood at 11, 213 units from 9,548 units during 2013-14. The company reported the best ever sales of 3,566 units in this period. This year the company is slightly missed its arch rival Audi’s sales.

Mercedes has recorded whooping 40 percent growth in the first quarter of 2015. The company has stressed on strong customer focus and new models.

Other luxury carmakers like BMW and Volvo have also reported growth in the last financial year. However, BMW sales of Mini and other cars feel by seven percent in FY15.

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