Lamborghini and Mercedes-Maybach plan to expand in India as a growing tribe of young, rich Indians splurge on super luxury cars, driving their sales to record levels.
Italian supercar maker Lamborghini, fresh from a year of record sales, is exploring a fourth showroom in India, while Mercedes-Maybach sees the country as a potential top-five market by sales, company executives said.
“India, for us, is an asset, there is a huge potential for the future. There is the idea of having maybe a fourth dealership but this is still in the early stages,” Lamborghini's Stephan Winkelmann told reporters at a virtual round-table.
The optimism is driven by “a change in generation” in the country with “momentum from younger customers”, he said, adding the average age of a Lamborghini buyer in India is below 40 — making it the youngest market after China.
“You have a lot of start-ups in India which are successful. You have young, high-net-worth individuals stepping into this type of car. So this is positive for us,” he said.
Rapid economic growth in India has wrought a fundamental shift in attitude towards luxury purchases among its younger generations that differs from their elders, who were more concerned with saving.
Executives at start-ups cashing out after record public listings and younger generations of a family business spending with less guilt are driving up sales of all things luxury — cars, watches, bags and even homes.
But luxury car sales in India make up just more than 1% of the 4-million vehicles-a-year market, and super luxury cars are an even smaller percentage.
Lamborghini had its best year in India in 2024, selling 113 cars, up 10% on 2023. Winkelmann expects growth again this year on the back of a strong order book lasting 18 months.
Its Urus SUV, which has a starting price tag of close to $500,000 (R9.1m) before taxes, made up half its sales, with the rest coming from the Huracán and Revuelto sports cars.
Mercedes-Maybach achieved 145% growth in India in 2024, selling 500 of its super luxury cars priced upwards of $325,000 (R5.9m) in a market where the average car costs about $15,000 (R273,133).
Daniel Lescow, head of Mercedes-Maybach, said India was already in its top 10 markets and had the potential to be in the top five, but the speed of growth would depend on how the luxury market develops.
“I'm convinced there's much more potential, so many opportunities here,” Lescow told Reuters.
Lamborghini and Mercedes-Maybach sales surge among young, affluent Indians
Image: Supplied
Lamborghini and Mercedes-Maybach plan to expand in India as a growing tribe of young, rich Indians splurge on super luxury cars, driving their sales to record levels.
Italian supercar maker Lamborghini, fresh from a year of record sales, is exploring a fourth showroom in India, while Mercedes-Maybach sees the country as a potential top-five market by sales, company executives said.
“India, for us, is an asset, there is a huge potential for the future. There is the idea of having maybe a fourth dealership but this is still in the early stages,” Lamborghini's Stephan Winkelmann told reporters at a virtual round-table.
The optimism is driven by “a change in generation” in the country with “momentum from younger customers”, he said, adding the average age of a Lamborghini buyer in India is below 40 — making it the youngest market after China.
“You have a lot of start-ups in India which are successful. You have young, high-net-worth individuals stepping into this type of car. So this is positive for us,” he said.
Rapid economic growth in India has wrought a fundamental shift in attitude towards luxury purchases among its younger generations that differs from their elders, who were more concerned with saving.
Executives at start-ups cashing out after record public listings and younger generations of a family business spending with less guilt are driving up sales of all things luxury — cars, watches, bags and even homes.
But luxury car sales in India make up just more than 1% of the 4-million vehicles-a-year market, and super luxury cars are an even smaller percentage.
Lamborghini had its best year in India in 2024, selling 113 cars, up 10% on 2023. Winkelmann expects growth again this year on the back of a strong order book lasting 18 months.
Its Urus SUV, which has a starting price tag of close to $500,000 (R9.1m) before taxes, made up half its sales, with the rest coming from the Huracán and Revuelto sports cars.
Mercedes-Maybach achieved 145% growth in India in 2024, selling 500 of its super luxury cars priced upwards of $325,000 (R5.9m) in a market where the average car costs about $15,000 (R273,133).
Daniel Lescow, head of Mercedes-Maybach, said India was already in its top 10 markets and had the potential to be in the top five, but the speed of growth would depend on how the luxury market develops.
“I'm convinced there's much more potential, so many opportunities here,” Lescow told Reuters.
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