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Luxury cars sales zoom ahead of new fiscal

By Religare

Luxury cars such as Mercedes Benz AMG, Jaguar XJ and Audi R8 are finding it easiest ever to record healthy sales numbers with several models running out of stock as customers rush to buy or book their dream car within the current fiscal to avoid a price hike of almost 25 per cent that takes effect from April 1. From April 1, the prices of such cars will go up as FM P Chidambaram increased import duty on fully built cars costing more than USD 40,000 (approx Rs 22 lakh) to 100 per cent from 75 per cent. As per media reports, various luxury car makers have sold 750-800 super luxury cars in March, more than double the monthly average of 300-350 imported vehicles. However, these car makers are hopeful of recording similar numbers in next year despite price hike. "We have seen high traction for our sedans and our award-winning M-Class SUV that now enjoys a waiting period of four months," Eberhard Kern, MD and CEO at Mercedes-Benz India, said as per the report.

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