India’s luxury car maker is growing at a rapid pace, with almost all the automakers reporting a growth. While companies are launching new and tech-laden cars with every passing day, it also gives an impetus to the pre-owned luxury carmarket, with an influx of new and exciting products. Unlike the mass-segment pre-owned market, the luxury pre-owned car market is quite organized. Companies like Luxury Ride have made a mark for themselves among buyers for offering quality and tested products. We recently got in touch with Sumit Garg, MD & Co-founder of Luxury Ride to understand some interesting facts and trivia about the pre-owned luxury market in India.
Best pre-owned luxury car market in India
When it comes to pre-owned luxury cars, customers have always prioritized hatchbacks which are followed by SUVs. The emerging Millennials as the potential consumers are changing the landscape by showing great affinity for SUVs over hatchbacks which in near future is going to increase the demand for SUVs. Though sedans as a luxury vehicle have shown a twofold growth it couldn’t surpass the intriguing trend achieved by SUV marking a five-fold growth owing to the affordability factor that worked immensely in giving impetus to the rising demand of the car.
Also read: All-new Mercedes-Benz C-Class launched in India, prices start at Rs 55 lakh
Top most cities buying and selling the pre-owned luxury cars
Metro cities have always been the hub driving the maximum purchase of pre-owned luxury cars. Since the early stages metro cities have marked large transactions for selling and purchasing of pre-owned luxury cars and the stance stays strong over the years which have shown progressive growth with time. Talking about the post-pandemic conditions, consumers are showing great interest for high-end brands with unmatched performance and services but within a limited budget which is driving the demand in the tier 2 cities as well like Jaipur, Chandigarh, Dehradun to name a few.
Most expensive cars in pre-owned luxury car market
An automobile may reveal a great deal about your lifestyle, choices, and general attitude. As a result, it’s critical to select a car that meets our daily demands while also reflecting our individuality. Customers have shifted from buying new luxury car to buying pre-owned luxury car as a result of the pandemic which has value for money. Furthermore, there has been an increase in demand for numerous luxury cars, as seen by many premium pre-owned luxury car dealers.
With the possibility of buying used luxury automobiles from reputable dealers and showrooms, the difference between new and used luxury cars is almost non-existent, except for the price. Mercedes-Benz, BMW, Audi, and Jaguar are among the most expensive luxury car brands in the pre-owned market.
Which luxury car brands are preferred mostly by the customers?
Considering the customer’s preference, Mercedes-Benz have saved its place as the most favourite luxury car brand in the year 2021 as compared to Audi and BMW. In this, the long wheelbase E-Class was the highest-selling model which was followed by the GLC SUV. The preference for Mercedes Benz is followed by Roll-Royce and Range Rover.
Name top 5 affordable pre-owned luxury cars in the market
There are many affordable pre-owned luxury cars in the market. To name a few, we have, Mercedes-Benz GLA, Mercedes-Benz C-Class, BMW X1, Audi A6, BMW 3-Series in the list. These cars are the most preferred ones amongst people.
What is the average ticket price in this segment?
Noting the trend Mercedes-Benz GLA has an average ticket pricing within the bracket of Rs 18-25 lakh, whereas Mercedes-Benz C-Class stands at the competitive price of Rs 22-30 lakh, while BMW X1 Rs 18-25 lakh, Audi A6 Rs 22-30 lakh, and BMW 3-Series between Rs 16-24 lakh.