India’s luxury car market is worth more than $20 billion, according to a report from IHS Automotive.
The report comes as the country is trying to diversify its economy away from dependence on foreign brands.
India is also known for its high cost of living.
India’s population is about 7.6 billion and about 10% of the population has access to free or low-cost internet.
A key selling point for Indian consumers is the car.
The A3 is the country’s most popular model and the cheapest entry-level vehicle in India.
In the US, it is sold in a range of prices ranging from $21,995 for the base model to $47,595 for the premium, luxury sedan.
The US luxury market is largely driven by the A3, and a number of models are being launched across the country, including the luxury A3 SE, A3 C, A4 C and A4 SE.
The market is expected to expand substantially by 2020.
India also has a burgeoning luxury car industry, with an estimated 3.3 million sales last year.
In 2018, there were 1.6 million luxury car sales.
IHS estimates that India will reach 10.5 million luxury sales in 2020.
“The global luxury car landscape is changing rapidly.
This will not be the case for many years to come.
The demand for luxury vehicles in India is on a fast-track,” said Rahul Choudhury, senior vice president, global research, IHS.
I was invited by a friend to take a tour of India and I am happy to report that it is truly beautiful.
A good time to travel with a luxury car is now, I was told.
In 2018, the Audi A4 S coupe and A3 Sportback sold around 11,000 units each.
The cheapest Audi A5 sedan sells for $33,950 and the lowest Audi A6 is $35,000.
The average cost of a luxury SUV in India, excluding gas, is about $20,000 a month.
India was the second largest luxury market after China, according IHS, but its luxury market share dropped to 2.4% in 2019, according the report.
India’s luxury vehicle industry is still small and fragmented.
I did find a few interesting products, including a 2018 Ford Fusion Hybrid, a 2017 Mercedes-Benz S550, a 2016 Porsche 911 GT3, a 2014 Porsche Cayenne, a 2018 BMW 7 Series E-Class, a 2012 Porsche Cayman Turbo S and a 2017 Audi A8 S.