India's luxury car market gets an EV charge
Luxe e-vehicle sales went from 1,223 units in Jan-May 24 to 2,027 units in the same period this year, shows the Vahan data. For calendar 2024, e-luxe vehicle sales were around 51,000 units up from just over 48,000 units in 2023 (some OEMs did not share retail data). This is the first time that EV penetration in the luxe car and SUV market has entered double digit territory. Santosh Iyer, MD & CEO,
Mercedes Benz India
said, 'More luxury customers are lapping up electric vehicles. In the calendar year 2025 YTD, the total luxury vehicle market grew 5per cent but the electric luxury market was up 66per cent and Mercedes Benz India saw 73% growth.'
The company which launched the EQS580 sedan celebration edition in Chennai on Monday, is focusing on the higher end of its luxury lineup. 'We are growing in the top end of the EV space with the EQS sedan, EQS SUV and Maybach EQS 680 SUV leading the growth,' he added.
With more than 3,000 EVs sold till date arch-rival BMW Group India is serious about its electric presence. Vikram Pawah, president and CEO, BMW Group India said, 'BMW is the leader in electric luxury mobility since the last 3 years. At present, we command 58per cent of luxury EV market share.' The company sold 1,020 units of its BMW and Mini EVs in January to May 2025, up 110per cent over the same period last year.
The company is also focusing on 'enabling a strong EV ecosystem for our consumers,' by understanding usage patterns, offering a strong charging network and a host of charging initiatives. As for Audi India, it is offering customers access to 6,500 plus charge points through a charging app for convenience.
Priced anywhere between ₹ 1 crore to ₹3 crore, the e-luxe cars and SUVs are not cheap. But luxury car makers are looking at this segment as a growth opportunity even if EVs currently comprise less than 10per cent of their sales. For Audi India, for instance, EVs constitute 2per cent of its total sales volumes while for Mercedes Benz India electric comprised 7per cent of its 19,565 units overall sales in 2024.
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