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In this State of the Economy podcast, businessLine’s S Ronendra Singh talks to Balbir Singh Dhillon, Head of Audi India, about the luxury car market in India, focusing on the remarkable growth it experienced in 2023. With a year-on-year increase of 20 per cent, the market reached a record high of 46,000 units, surpassing the previous peak in 2018. Although luxury cars will represent just over 1 per cent of the overall Indian car market in 2024, industry experts expect sustained momentum and anticipate double-digit growth.
Dhillon sheds insights into the luxury car market’s opportunities, challenges, and prospects. Audi India reported an impressive 89 per cent year-on-year sales growth in 2023, reaching 7,931 units. Dhillon also discusses the positive outlook for the industry in 2024, projecting a growth rate of 10–12 per cent while acknowledging challenges such as supply chain disruptions due to the Red Sea situation.
Read: We are one of the shining markets globally and we will continue to be: Audi India Head
The conversation also delves into Audi’s product lineup, expansion plans, and the company’s approach to electric vehicles (EVs). Dhillon highlights the importance of a stable policy regime and addresses potential competition, emphasising the need for a level playing field.
Read: BMW Group India expects to retain leadership position in EVs in 2024
Regarding EV infrastructure, Audi is experimenting with high-speed charging stations, especially on highways, to meet the demand for quick refills. Dhillon touches on the broader EV landscape in India and welcomes more players, believing that increased competition will benefit the entire industry.
The interview concludes with discussions on Audi’s production capacity, expansion plans for workshops and outlets, and the overall growth potential of the luxury car market in India.
Tune in for a detailed conversation.
Host: S Ronendra Singh, Producer: Nabodita Ganguly
About the State of the Economy podcast
India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders. To help you make sense of the bundle of contradictions that the country is, businessline brings you podcasts with experts ranging from finance and marketing to technology and start-ups.
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