The shift in consumer psyche is driving growth in India's luxury car market with BMW set to register robust double-digit growth in CY2022 and eyeing 10% sales from EVs in CY2023.
23 Dec 2022 | 5883 Views | By Mayank Dhingra
India’s luxury car market is poised to grow by 40 percent in CY2022 and is likely to see its momentum being sustained next year as well despite weakening economic circumstances in the US and Europe. The key driving force is Covid which has brought a fundamental shift in the psyche ...
This is an Autocar Pro Plus article. Subscribe to continue reading.
India’s luxury car market is poised to grow by 40 percent in CY2022 and is likely to see its momentum being sustained next year as well despite weakening economic circumstances in the US and Europe. The key driving force is Covid which has brought a fundamental shift in the psyche of the consumer who is increasingly adopting the 'Living life in the moment' mantra.
Vikram Pawah, president and CEO, BMW Group India talks about the sales revival in India's luxury car market and the company being on track to close CY2022 as its best-ever year in the country. Pawah also shares his optimism stemming from the robust macro aspects of the Indian economy, which is likely to remain immune and sail through the global recession better than other markets.
Also read
‘India will be resilient and stand tall amidst global recessionary fears’: Vikram Pawah