The luxury car market in India during 2020 will be flat and experience a positive revival in 2021, says Balbir Singh Dhillon, head, Audi India. Edited excerpts:How was 2019 sales?The auto industry faced strong headwinds in 2019. The economic slowdown in India last year tapered customer sentiments with potential car buyers delaying their buying decision. It was a challenging year as there was ambiguity about the life of BS IV vehicles on-road in the customer’s mind and anticipation of GST reduction on cars; both these topics were later clarified by the government. The year also saw the tightening of loans available to dealers and customers, which negatively impacted the sales of luxury car sales.Every major luxury car player has de-grown in volumes during 2019 and we were not an exception. We sold 4,594 units in 2019 and continue to be one of the top choices for luxury car customers in India. What is notable is while the overall car market declined, we saw a strong traction in the luxury pre-owned car segment. Audi Approved: plus, our pre-owned car business, registered a year-on-year growth of 11% in 2019. Your outlook for 2020?We have been optimistic about the growth of the luxury… Read full this story
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