Luxury car and SUV sales in India rise 20.5% to over 45,000 units in FY2024

Mercedes-Benz, BMW and Audi registered double-digit percentage growth in the last financial year.

By Ajit Dalvi calendar 08 May 2024 Views icon7643 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Luxury car and SUV sales in India rise 20.5% to over 45,000 units in FY2024

A global trend that has also found resonance in India over the past three years is the soaring demand for luxury as well as super-luxury cars and SUVs. This niche segment has hit a new high in FY2024. As per JATO Dynamics India, cumulative sales of seven luxury carmakers in FY2024 were 45,311 units, up 20.5 percent on FY2023’s 37,615 units.

Demand for luxury SUVs at 27,489 units was up 34 percent year-on-year (YoY), while luxury sedans improved at a more muted 6.5 percent to 17,569 units. The top three manufacturers – all German carmakers – have registered strong double-digit growth. And interestingly, though Mercedes-Benz India maintains its lead, BMW India is closing in fast. Let’s take a closer look at the company-wise performances.


Market leader Mercedes-Benz India has maintained its strong growth trajectory, selling 17,013 PVs, up 3 percent on FY2023’s 16,497 units. The sales are split 56 percent in favour of SUVs and 44 percent for sedans. Interestingly one out of every four Mercedes-Benz cars sold belongs to the top end luxury segment; which the company categorises as cars with a price tag more than Rs 1.5 crore.

The company also saw robust sales of its sedan portfolio, comprising the A-Class, C-Class, LWB E-Class and S-Class. The outgoing LWB E-Class remains the highest-selling Mercedes-Benz (3,561 units, up 9 percent). Demand for Merc SUVs remained strong comprising the GLA (2,213 units, up 24 percent), GLE (2,349 units, up 1.4 percent), GLC (1,925 units), GLS (1,529 units, down 35 percent) and G-Class (219 units, down 15 percent). Notably, the GLE was the best-selling luxury SUV in India last fiscal. EV-wise, the EQB (311 units, up 576 percent) and EQE (116 units) prove that there is demand for luxurious eco-friendly motoring from the three-pointed star.

BMW India retains its #2 rank with sales of 14,479 units, up 28 percent YoY (FY2023: 11,255 units), with the SUV: sedan sales ratio at 49:51. Yes, BMW is the only one of the top three to sell more sedans than SUVs in FY2024. The 3 Series remains its best-selling sedan – 2,652 units, followed by the 6 Series (1,428 units), 2 Series (1,073 units) and the 5 Series (1,059 units). Of the BMW SUVs on offer, the X1 (2,996 units) was the top seller as well as the best-selling midsize luxury SUV in India, followed by the X7 (1,644 units), X3 (1,089 units) and iX (738 units). 

Audi India recorded strong 33 percent growth in FY2024 with 7,027 units (FY2023: 5,277 units), comprising 4,425 SUVs (up 72 percent) and 2,602 sedans (down 3.9 percent). While sales of the Q3 soared 303 percent to 1,965 units, the Q7 (742 units, up 33percent) and the Q5 (735 units) sparred to be the next-best Audi SUV in town. The Q3 Sportback also saw strong demand – a seven-fold increase to 658 units. On the sedan front, the A4 posted 35 percent growth to 1,521 units albeit the A6’s numbers were down by 38 percent to 920 units.

The Range Rover Velar sold 556 units in FY2024, up 45 percent YoY. 

Land Rover India, with 3,061 units and 82 percent growth, jumps one rank in FY2024 into fourth position, ahead of FY2023’s #4 – Volvo Auto India. The huge popularity of the Land Rover Defender has given the Tata Motors-owned SUV maker a fresh charge. Sales of 1,314 Defenders were a 151 percent increase.

Indicative of the growing demand for premium models, the Range Rover Velar (556 units, up 45 percent) and RR Sport (404 units, up 86 percent) were the next most popular models. The flagship Range Rover, the most expensive model in the range, went home to 394 customers. The RR Evoque sold 190 units, up 13 percent. The LR Discovery Sport sold 197 units, down 26 percent, while the Discovery chipped in with 6 units.


Volvo Auto India, back to the #5 position it had in FY2022, sold 2,522 units, up 27 percent. The XC60 (867 units) SUV was the model which saw maximum demand, followed by the XC40 (769 units), XC90 (449 units) and the C40 (212 units). The sole S90 sedan went home to 225 buyers.


The BMW Group’s Mini brand sold a total of 937 units, up 34 percent. The bulk of the sales came from the Mini Countryman (695 units).


In seventh place is Jaguar India with 272 units, up 22 percent YoY. The F-Pace SUV with 221 units was the best-seller, followed by the I-Pace (31 units) and the F-Type (20 units).

Japanese brand Lexus recently completed seven years of operation in India. The carmaker announced a growth of 63 percent in FY2024, as compared to FY2023. Lexus says its most popular models in India are the NX350h SUV and the ES300h sedan.


The BMW iX accounted for 50 percent of luxury EV sales in India in FY2024.

On the e-mobility front, the existing luxury vehicle OEMs in India have been pushing the EV envelope in terms of technology and new models. As per retail sales data, a total of 2,870 luxury EVs were sold in FY2024 with BMW India accounting for the bulk of them (1,421), followed by Volvo India (598), Mercedes-Benz India (564), Audi India (165) and Porsche (114).

Data Source: JATO Dynamics India
To read the complete FY2024 sales analysis, pick up a copy of Autocar India’s May 2024 issue.  

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