India Luxury Car Market Report 2022-2027: Size, Growth, Share and Forecast

According to the latest report by IMARC Group, titled, “India Luxury Car Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The India luxury car market size is expected to exhibit a CAGR of 6.40% during 2022-2027.

A luxury car is classified as a passenger and conventional vehicle designed with advanced applications and equipment to provide passengers with enhanced comfort. It offers superior competence, possesses high-quality interiors, and is equipped with leather seats and progressive devices, including cameras, maps, sensors, an anti-kidnapping heartbeat monitor, upgraded suspension, etc., as compared to standard medium-sized automobiles. In line with this, a luxury car has starlight headliners, trunk hinges, and entertainment and safety systems, which provide better service and optimal safety while enhancing overall vehicle performance. It is commercially available in the internal combustion engine and electric propulsion types. Consequently, a luxury car is gaining extensive traction in India.

Request Free Sample Report (Exclusive Offer on this report): https://www.imarcgroup.com/india-luxury-car-market/requestsample

India Luxury Car Market Trends and Drivers:

The expanding automotive sector and the growing consumer safety concerns are primarily driving the India luxury car market. Additionally, the launch of various favorable policies by government bodies to promote the utilization of premium electric vehicles (EVs) as a sustainable mode of transportation for cutting down carbon emissions is further catalyzing the market growth. Besides this, the escalating demand for luxurious autonomous cars with advanced features and security arrangements, on account of the inflating levels of disposable income, is acting as another significant growth-inducing factor. Moreover, the emerging trend of purchasing used luxury cars, owing to their lower entry price, easy access to financing, minimal annual maintenance contracts, etc., is augmenting the market growth across the country. Apart from this, they are also integrated with personal voice assistance, artificial intelligence (AI)-enabled vehicle systems, retina recognition, hands-free connectivity, global positioning systems (GPS), etc. Furthermore, the introduction of variants that are embedded with electric vehicle components is anticipated to fuel the India luxury car market over the forecasted period.

India Luxury Car Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape:

• The competitive landscape of the industry has also been examined along with the profiles of the key players.

The report has segmented the market based on vehicle type, fuel type, price range and engine capacity.

Breakup by Vehicle Type:

• Hatchback
• Sedan
• Sports Utility Vehicle

Breakup by Fuel Type:

• Gasoline
• Diesel
• Electric

Breakup by Price Range:

• Entry-Level
• Mid-Level
• High-End
• Ultra

Breakup by Engine Capacity:

• Upto 3,000 CC
• Above 3,000 CC

Breakup by Region:

• North India
• West and Central India
• South India
• East India

Ask Analyst for Instant Discount and Download Full Report with TOC & List of Figure: https://www.imarcgroup.com/india-luxury-car-market

Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact us:

IMARC Group
Email: [email protected]
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Address: 134 N 4th St. Brooklyn, NY 11249, USA
Website: https://www.imarcgroup.com/
Follow us on Twitter: @imarcglobal
Linkedin: https://www.linkedin.com/company/imarc-group