Luxury Car Segment Report for February 2021

The luxury car segment in India is not particularly huge. However, it generally was on a growth trajectory before the pandemic caused the world to go into sleep. Now that things are getting back on track, the luxury car segment is the last to recover. It still saw declining sales in the month of February. The overall segment shrank by over 52% YoY. In February 2020, total sales for the segment were 3,629 units. In comparison, in February this year, the sales dropped to a mere 1,732 units, which is even less than half of last year. The reasons are not unknown as the industry still in the recovery phase. The production was halted, the semi-conductor supply is still short around the globe and people are still getting used to spending big on luxury cars again. But slowly and steadily, the luxury car segment will definitely see growth, especially after the top two carmakers, Mercedes-Benz and BMW have announced a slew of product launches in 2021. Let us, for now, analyze the month gone…