Young wealthy Indians boost luxury car sales in India

Lamborghini and Mercedes-Maybach are planning to grow their businesses in India. This is due to a rise in young and wealthy buyers who are increasingly purchasing luxury supercars. Both companies have reported record sales, and they see a bright future in the Indian market. Lamborghini is considering opening a fourth showroom in India. Company executive Stephan Winkelmann noted that the average Lamborghini buyer in India is under 40, making it the youngest market for the brand after China. He mentioned that many successful startups are creating a pool of young, high-net-worth individuals who are eager to buy luxury vehicles. India's economy is changing attitudes towards luxury spending. Unlike previous generations, young Indians are more willing to spend on high-end items such as cars, watches, and homes. In 2024, Lamborghini sold 113 cars in India, a 10% increase from 2023. The Urus SUV was particularly popular, accounting for half of the sales. Mercedes-Maybach also saw significant growth in India, with a 145% increase in sales in 2024. They sold 500 luxury cars priced over $325,000, while the average car in India costs around $15,000. Daniel Lescow, head of Mercedes-Maybach, believes India has the potential to become one of their top five markets, depending on how the luxury market evolves.