The upcoming festive season in India, commencing next month, holds significant promise for the luxury car market. Luxury car manufacturers are optimistic about a surge in demand, expecting the festive period to accelerate sales. This resurgence in sales is hoped to mitigate the impact of global challenges. Industry experts predict that between 10,000 and 12,000 luxury vehicles could be sold during this year’s festivities. Mercedes-Benz India’s Managing Director, Santosh Iyer, noted that while initial market demand was subdued due to global instability, the festive season is expected to bring improved momentum. He highlighted that purchases in the luxury segment are driven by consumer sentiment. Despite geopolitical challenges, the Reserve Bank of India has reduced the repo rate by 100 basis points this year, coinciding with the onset of the festive season, leading to expectations of enhanced sales figures.
