New Delhi: Luxury carmakers Mercedes-Benz India and Audi India expect sales to bounce back in the upcoming festive season as they give the impression of being ahead to gradual enchancment in general enterprise setting over the following few months.
The German automakers expect introduction of digital initiatives and monetary instruments, together with low EMI features, to assist them appeal to extra patrons.
“We are confident of customer demand gradually coming back by the festive season as this is the time customers want to celebrate and that in-turn drives sentiment. Our month-on-month sales trend signals towards that revival of sentiments,” Mercedes-Benz India Managing Director and CEO Martin Schwenk informed .
The company has taken a number of initiatives to enhance buyer sentiment and to carry back the boldness required, he added.
“We are aiming to reach similar levels like previous years, though it will not be an easy task,” Schwenk said when requested about sales expectations this festive season.
Similary, Audi India Head Balbir Singh Dhillon said that historically the festive season has been a robust sales interval for the auto business.
While buyer sentiment has been low throughout the lockdown, the silver lining is the pent-up demand that might materialise into sales over a interval, he famous.
“We are seeing positive customer sentiment in the luxury car market and anticipate it to become even stronger with the upcoming festive season,” Dhillon said.
The company’s not too long ago launched merchandise — A6, A8 L, Q8 and RS 7 Sportback — would assist in mustering new clients, he added.
“Adding to this cheer will be our upcoming cracking launches, before and during the festive season, including the Audi RS Q8 amongst others,” Dhillon said.
The company additionally anticipates its pre-owned automotive enterprise to additional pick up steam throughout the festive interval.
“The company’s pre-owned car business has seen growth in 2019 and we expect strong demand to continue in 2020,” Dhillon said.
When requested which markets have been doing higher for the model, Schwenk said, “We have seen that irrespective of the market category, wherever stability and normalcy has been restored and business is back, we have seen positive movement and sentiments developing.”
The revival of sentiments has been throughout metros and smaller markets, he added.
When requested how smaller cities and cities have been performing for Audi, Dhillon said, “Our sales in tier-II and III cities are growing gradually and we expect it to pick up further during the festive season and through 2021.”
The company continues to broaden its footprint in tier-II and tier-III cities as these areas exhibit rising aspirations to own luxurious vehicles, he added.
“The contribution to volume is increasing steadily in these cities. We also see a positive trend of customers in these cities who have an appetite for performance and lifestyle cars with new body styles,” he added.
The company’s digital initiatives are additionally taking it nearer to the shoppers in smaller cities, Dhillon said.
The automaker has taken digital expertise to the dwelling rooms of its clients and is giving them the flexibleness to buy their most well-liked Audi automotive, he said.
Commenting on the general dynamics of the phase, Deloitte India, Partner and Leader Automotive, Rajeev Singh said the luxurious automotive market in India has thus far seen a really sluggish begin given the transition from BS-IV (Bharat Stage-IV) to BS-VI emission requirements, adopted by the pandemic and lockdown throughout main cities.
“However, we expect a pent-up demand around the festive season carried over till the new year,” he famous.
Most of the luxurious automotive gamers have additionally strengthened their online channels maintaining in thoughts the pent-up demand and have additionally come out with progressive possession/fee features to appeal to clients, Singh said.
“While the overall luxury car market is likely to be flat to minus 5 per cent in FY20-21, it’s better than the outlook for the overall passenger vehicle (PV) industry, which is likely to see a de-growth of 15 to 20 per cent,” he added.