By the end of 2023, Audi India anticipates high double-digit growth
The Indian luxury automobile market is growing at a high double-digit rate, according to German automaker Audi, which stated Friday that a robust product pipeline is fueling this expansion.
According to Audi India, the firm is collaborating with its corporate office to produce electric vehicles in India, and a decision would be made at the “right time.”
“Compared to the industry’s growth of 20% in the first six months (January-June), we almost quadrupled our sales, expanding by 97% at 3,500 units. The SUV portfolio increased by more than 200%, and the sports vehicle portfolio by 127%.
“I have no doubt that this increase will continue for the next five months. Additionally, July saw strong (sales). Therefore, we’ll end up with a high double-digit increase this year, said Balbir Singh Dhillon, CEO of Audi India, during the unveiling of the new electric SUV Q8 e-tron.
We always take that with a grain of salt, but of course we recognize this was also on a low base last year, he said.
As for positioning in the industry, Dhillon said that the firm is not chasing numbers since “we want to run a business that is sustainable and profitable for our dealer partners.” The firm has 15 models in all, spanning the sedan, SUV, electric mobility, and performance vehicle sectors, and that is what is enabling it to expand this year, according to him.
The newest model of the flagship electric SUV e-tron, the q8-e-tron, was introduced in two body styles—SUV and Sportback—and two battery configurations. It starts at a starting price of Rs. 1.14 crore (ex-showroom) for the SUV version and Rs. 1.18 crore (ex-showroom) for the Sportback version.
According to him, Audi India’s vehicles cost more than Rs 1 crore, thus “we are addressing a very limited segment.” The electric vehicle now makes up 3% of the company’s overall sales, according to Dhillon, who said, “but this is not where we are terminating. This is where we’ll begin. By the year 2033, Audi intends to be a worldwide leader in electric vehicles.
“We will continue to grow, bring more cars, and in different segments,” he said.
“We are also collaborating with our corporate office on the local manufacture of electric vehicles. The decision (on it) has not yet been made, but I am certain that when the time is right, we will do so. “If you are moving to become a fully electric car company, we will make the appropriate decisions,” Dhillon added.
