The sale of luxury wheels, priced at Rs 40 lakh, has hit the fast lane, racing to a three-year high during the 2016-17 financial year. The sales have already increased up to 250-270 per month (around 3,000-3,300 for the year) in 2016-17.
This is already 15% increase over 2015-16. 200 or more cars of this are from the ultra-luxury segment in the 1crore to 6 crore bracket. The Luxury market in Hyderabad is growing faster than that in Bengaluru and Chennai. Bengaluru currently stands third in buying luxury cars after Mumbai and Delhi.
Tollywood stars, producers, directors and scriptwriters, pharma barons and promoters of infrastructure giants are the main buyers of ultra-luxury cars. Another reason for the jump in sales could be the fact that most of the buyers of luxury cars like to upgrade every three years on an average.
