Luxury Car Sales Fall Steeply

Luxury car sales in India fell down by nearly 8 percent in May, even as the overall passenger car segment witnessed a marginal 2.48 percent growth.

As per the latest data provided by Society of Indian Automobile Manufacturers (SIAM), the premium and luxury cars segment recorded sales of 3,360 units in May compared to 3636 units sold in the same period last month.

The sale of high-end cars was not healthy too. The sale of high end cars was down to 7,098 compared to 7149 units in the same period last year. In fact the leader of the luxury car market Mercedes-Benz was the hardest hit. It posted a decline of 34.18 percent for the month of May. The closest competitor BMW too witnessed fall in sales of 22.48 percent as against the sales witnessed last month.

German car manufacturer Mercedes-Benz sold 181 units in last month against 275 units in the corresponding month last year. While sales of C and S-Class by went down by 56.02 percent and 31.58 percent at 73 units and 39 units respectively. However, sales of E-class climbed up 32.69 percent at 69 units.

Its closes rival BMW saw sales plummet to 169 units from 218 units in the same period last year. It entire portfolio registered steep fall in May. Skoda Auto India sold 830 units of Octavia, Laura and Superb a fall of 20.88 percent over last years 1,049 units

The General Motors India saw car sales go down by 1.12 percent in May, and luxury segment witnessed a sharp decline of 68.67 percent at 120 units in May. The country's second largest car manufacturer Hyundai Motors India also reported a fall of 50.91 percent in its luxury car segment. Hyundai Elantra and Sonata cars sold 655 units as against 1,025 units during May last year. Honda Siel Cars India, which has the Civic and Accord cars positioned in the premium which witnessed a drop of 66.38 percent over 1,294 units sold during the same month of last year. Toyota Kirloskar Motors was the only car manufacturer to have bucked the trend. Toyota sold 697 units of Corolla Altis and Camry in May as against 301 units sold by the company in the same month last year.