Luxury cars might come at lower price in future

Published On Nov 25, 2011 04:30 PM By Vikas for BMW X3 2014-2022

3K Views
Write a comment

While the entire car industry is undergoing a harrowing experience, the luxury segment was relatively unaffected. According to the latest report from BMW India, the leading luxury car manufacturer seems to come under the negative influence after all. The predetermined target of 10,000 units seem to be slightly farfetched at the moment due to the negative sentiments among the consumers.

However, Andreas Schaaf president of BMW India had been positive in asserting that despite the slowdown in the market, there is scope for definite growth in the market and they are clinging to the very hope and have carved their future plans for 2012 in the country. The festive month of October has been particularly bad for the car manufacturers, though BMW India has managed to grab 40% of the sales in the luxury segment with 8,042 units sale already on the cards.

Luxury cars might come at lower price in future

The car manufacturers literally live on a hope to see a surge in sales during the months of March and October . However, that did not prove to be true this time around wiping out the smiles of success from the auto giants. While the luxury segment escaped the slowdown narrowly, the curse has finally befallen on them too. The luxury segment is usually far beyond the petty concerns usually faced by the common man. The petrol price revisions and the high lending rates too small to have them ruffled out of their safety haven.

The growth still seems to be uphill though the overall slowdown which has affected the market from 70% growth to 30% of late. Hopefully, this timely positive advice from Andreas Schaaf comes handy to other car manufacturers who are a little crestfallen with the dull growth in the car industry. Instead of biding the time letting the time take its course, the auto major has ventured into the pre-owned car business to try out their luck in relatively new field. The German car manufacturer has introduced their used car dealerships in seven major cities with the hope to take off in the new business.