Mumbai, April 10 -- With the Indian auto industry achieving a good 10 percent growth in FY2023-24 (the two-wheeler, three-wheeler, passenger vehicle, tractor and CV segments grew at nine percent, 49 percent, 8.45 percent, eight percent and five percent respectively), the luxury passenger vehicle segment consisting of luxury cars and SUVs saw a significant shift in the demand for models and brands.

If it would mirror the luxury automotive purchasing trends evident globally may be early to say but the market for luxury brands - BMW, Mercedes-Benz and Audi primarily - witnessed a good number of first-time and affluent buyers in FY2023-24. With the sale of luxury automobiles expected to bridge the 100,000 units level by 2030, a distinct tren...