A Luxury car is a styled, luxurious automobile intended for comfort and satisfaction of its owner or driver,sacrificing passenger space, cargo capacity and other practical concerns for the sake of style. The luxury cars are very expensive and its price range is above Rs 20 lakhs. Hence these cars are affordable and are preferred by high-income group.Luxury cars have the capacity to carry at the most 6 passengers. The companies like- BMW, Daimler Chrysler, Porsche, Rolls Royce manufacture these cars and companies like -Aston Martin and General Motors are still planning to launch their models in the market under this segment.
Like anywhere else in the world, cars are the most visible symbol of a country’s high spending customers. The luxury car market in India has tripled in the past five years. Last year, luxury sports car maker Porsche made its Indian debut with the iconic 911 Carrera turbo, the Boxter and its highly rated Cayenne SUV.
Within a week of a launch, Porsche dealers claim to have taken 19 orders in Delhi and 12 in Mumbai, mostly for the Cayenne SUV. Super luxury cars like Bentley’s Arnage R and its sports version are available locally at prices between Rs 1.5 crore and Rs 4 crore. By next year Ferrari enthusiasts will be able to buy the Ferrari Modena in India, along with luxury models from BMW range, Audi and sports car manufacturer Maserati.
It is a sign of what economic liberalization has done for millions of Indians. Sure, there are abysmal and shameful levels of poverty and India is still very much a third world country in many respects. Yet, at the same time, country’s economic growth in the last decade, along with China's has been the envy of the world. Its per capita income has grown at an incredible rate of 70% during this period. The opening up of the Indian economy and parallel boom in the IT and service sectors have created an entire generation of wealthy Indians who are distinct from India’s traditional business families.
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