German luxury carmaker Audi has achieved a significant milestone in India by selling over 100,000 cars to date. The company reported selling 5,816 units in 2024, with a notable 1,927 units sold in the fourth quarter alone.
Audi’s pre-owned car business, ‘Audi Approved: plus,’ recorded an impressive 32% growth in 2024 compared to the previous year. This growth highlights the increasing demand for luxury vehicles in the pre-owned segment. The company has expanded its network to cater to this demand, with 26 facilities across major cities in India and plans to add more.
Overcoming Supply Challenges in 2024
Despite facing supply chain challenges in the first half of the year, Audi India saw a remarkable recovery in the second half. The company reported a 36% increase in sales in the fourth quarter compared to the previous quarter. Balbir Singh Dhillon, Head of Audi India, emphasized that the continued demand for Audi’s products reflects the strong trust customers have in the brand.
The launch of the new Audi Q8 and Audi Q7 models has significantly strengthened the brand’s Q range, which is popular in the luxury SUV segment. These models have received a positive response from customers, contributing to the brand’s strong performance in 2024.
Expanding Presence in India
In 2024, Audi inaugurated its largest luxury pre-owned car showroom in the northeast region, located in Guwahati, followed by another facility in Mangalore. These expansions are part of the company’s strategy to meet the growing demand for luxury cars in India.
Dhillon expressed optimism about the long-term potential of India’s luxury car market. He stated, “We remain committed to delivering exceptional experiences to our customers and anticipate further growth in the coming years.”
According to a report by Knight Frank, India is expected to see a rise in the number of ultra-wealthy individuals in the coming years. The report predicts that individuals with a net worth exceeding $30 million will increase from 13,263 in 2023 to 19,908 by 2028. This growth is likely to drive the demand for luxury cars in the domestic market.
