Luxury car sales in India for the calendar year 2024 crossed the 50,000-unit milestone, according to industry estimates.

Leading the pack is Mercedes Benz, which retailed 19,565 units, with the BMW group’s sales closing in at 15,721 units. Audi, the third luxe German brand that does not operate in the diesel segment, brought up the rear with 5,816 unit sales.

Tata-owned JLR, according to sources, is giving Audi a close run for its money at around 5600 units. The company hasn’t officially declared its numbers.

Swedish brand, now owned by Chinese conglomerate Geely Holding, has sold about 1,950 units and the Toyota-owned Lexus brand retailed about 1,250 units, according to industry sources.

With brands like Porsche, Lamborghini and others doing another odd 1,300 units, the total luxe sales in the country last year would be well over 51,000 units.

In 2023, the figure stood at 48,500 units, posting a growth of nearly six per cent.

While mass-market auto sales growth has hit a pause button, the luxury segment is on a robust growth path, with predictions of the segment hitting the one lakh milestone in another five years. Mercedes outgrew the industry with a 12 per cent growth aided largely by the Long Wheel Base E Class, its top-end vehicles, and its SUVs. BMW has also experienced a growth of 11 per cent.

BMW sold 15012 units and Mini sold 709 units.

While the first half of the year was tough for the companies with 2024 being an election year and an unprecedented heat wave affected sales, the second half saw a surge in demand. Unlike the mass market where the post-pandemic pent-up demand has satiated and affordability of cars has gone with prices increasing and income levels down, the luxury segment is witnessing a continued demand based on a strong economy, higher disposable incomes, more high net-worth individuals and good road infrastructure.

Most companies are stressing on new product launches and local productions with a seamless retail experience for their customers. Both Mercedes and BMW seem to have hit a sweet spot with Top End Vehicles (cars priced upwards of Rs 1 crore). “TEV sales grew by 30 per cent with one out of every four Mercedes sold being a TEV,” said Santosh Iyer, MD and CEO of Mercedes Benz India while announcing the year’s sales figures.

BMW says every fifth car it sold was top-of-the-range model.

The luxury automotive market has an appetite for more as companies will continue with their product offensive in the coming year.

Mercedes Benz has promised eight new launches this year. It kicked off with the launch of the G Electric which will retail at Rs 3 crore and the five-seater EQS 450 SUV at Rs 1.28 crore.