Video: Why India’s Luxury Car Sales Have Flatlined despite 90% Growth in Millionaires

India is richer than ever 8.7 lakh millionaire households, booming markets, billion-dollar homes, and weddings worth crores. Yet luxury cars make up just 1% of all passenger vehicles sold. Why is a country bursting with wealth still hesitant to buy luxury wheels?

In this episode of Autocar Professional’s POV, we break down the paradox of India’s luxury car market and explore the forces shaping its slow growth despite high aspiration.

What we cover in this explainer:

• The aspiration vs. reality of luxury car buying in India
• Why homes, weddings & gold win over cars
• The cultural “savings-first” mindset
• India’s heavy car taxation — the biggest barrier
• How GST reforms will (and won’t) change demand
• Why luxury EVs are growing faster than ICE
• The future: how a $10 trillion economy changes the game

From depreciation worries to road taxes to shifting consumer psychology—here’s the full picture of why luxury cars remain rare on Indian roads, and what could finally unlock mass-market luxury adoption.

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