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Luxury cars sales in Hyderabad witness 30 Per cent rise in festive season

Luxury cars sales in Hyderabad witness 30 Per cent rise in festive season
Nikhil Puthran Nikhil Puthran Tuesday 25 October 2016, 17:24 PM

The festival of lights, Diwali is a time when most individuals and families decide on driving home a new car. Along with expected positive sales growth numbers for regular cars, this year Hyderabad witnessed a 30 per cent rise in luxury car sales as against the same period last year. Though cars priced around Rs 1 crore or higher are selling in limited numbers, the cars priced between Rs 50 lakh to Rs 70 lakh are among the preferred ones.

Reports indicate that most customers have asked for deliveries on Dhanteras, a day before Diwali, if not on Diwali day. The numbers are certainly impressive for a city like Hyderabad which stands fourth after other leading luxury car selling cities like Delhi, Mumbai and Bengaluru. The rise in sales is also attributed to easy financing options and convenient EMIs which has made such premium cars more affordable to buyers. The report also indicates that most of the buyers are between the age group of 22 to 35 years.

In the mid and lower segment, automakers have reported around 15 – 20 per cent growth as compared to last year. In terms of numbers, around 350 to 400 units of luxury cars have already been taken home this festive season and more might be sold this week thereby raising the numbers further. Other major cities have also seen a positive growth in terms of sales in the country.

 

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