New Delhi: Super luxury cars clocks highest ever growth in India

The world may be discussing the recession, but Indian millionaires and billionaires are enjoying their high-end vehicles contributing to its tremendous demand.

The market for ultra-luxury vehicles in India (above Rs. 2 crore) has grown at its fastest rate ever this year as the idea of "you only live once" (YOLO) picks new steam in the wake of the epidemic. In 2022, sales increased by 50%, breaking the previous record set in 2018.

During the lifting of limitations following the epidemic, the market for ultra-high-end vehicles, which is led by Italian super sports manufacturer Lamborghini and other companies like Bentley, Ferrari, Rolls-Royce, Aston Martin, Porsche, and Maybach, has been on the rise.

According to Sharad Agarwal, India's head of Lamborghini, which sells vehicles for upwards of Rs. 4 crore, consumers have gone forward and taken action to realise "their ambitions and objectives" post-Covid, in contrast to prior customs of being careful when it comes to indulgence.

The market for super-luxury vehicles is predicted to reach 450 units this year, up from 300 units sold in 2021. 

The trend is supported by some of the major stores in the nation. Yadur Kapur, CEO of Select Automobiles, whose business sells premium brands including Rolls-Royce, Ferrari, Lamborghini, Aston Martin, and BMW, claims that "the demand for luxury cars is unparalleled, and has gone through the sky post-pandemic." "Everyone wants to enjoy life post-Covid," Covid came as a nasty revelation to many, and today individuals prefer to live wealthy lives than pass away wealthy. We have picked up on this pattern.

Prior to now, abstaining from indulgence was thought to be cool. However, not anymore. Now, they question why. This might be seen as people overindulging in pricey vacations on private aircraft, ultra-luxurious vehicles, and costly watches.

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