Top 10 Selling Luxury Cars in India: Brands Leading FY2024
The demand for luxury vehicles in India has surged remarkably over the past three years, mirroring a global trend. In the fiscal year 2024 (FY2024), the Indian automotive market witnessed significant growth in this segment. Cumulative sales from seven major luxury car manufacturers reached 45,311 units, marking a substantial 20.5 percent increase compared to the previous fiscal year, according to data from JATO Dynamics India. This highlights the robust appetite for high-end automobiles among Indian consumers and sets the stage for understanding which brands dominated the list potentially featuring the Top 10 Selling Luxury Cars In India.
The growth was particularly pronounced in the luxury SUV category, which saw demand climb by 34 percent to 27,489 units sold. Luxury sedans experienced more moderate growth, with sales increasing by 6.5 percent to 17,569 units. The market dynamics reveal a clear preference for German engineering, with the top three positions held by Mercedes-Benz, BMW, and Audi. While Mercedes-Benz maintained its leadership, BMW closed the gap significantly.
alt: Chart displaying FY2024 vs FY2023 luxury car brand sales figures in India, highlighting overall market growth.
Mercedes-Benz Retains Top Spot
alt: A silver Mercedes-Benz sedan parked, representing the brand’s leadership in the Indian luxury car market.
Mercedes-Benz India continued its reign as the market leader, selling 17,013 units in FY2024, a 3 percent increase year-on-year. SUVs accounted for 56 percent of its sales volume, with sedans making up the remaining 44 percent. Notably, high-end models priced above Rs 1.5 crore constituted a quarter of the brand’s total sales, indicating strong demand for ultra-luxury vehicles.
The sedan lineup, featuring the A-Class, C-Class, LWB E-Class, and S-Class, performed well. The outgoing Long Wheelbase (LWB) E-Class was the highest-selling model for Mercedes-Benz, with 3,561 units sold, reflecting a 12.7 percent growth. Among SUVs, the GLE led the charge with 2,349 units (up 8.2 percent), closely followed by the GLA (2,213 units) and the GLC (1,925 units). The GLS registered sales of 1,529 units, but this was a significant 31 percent decrease from the previous year. The iconic G-Class found 219 buyers. In the electric vehicle (EV) space, the EQB SUV sold 311 units and the EQE SUV sold 116 units.
BMW Closes In with Strong Growth
alt: A blue BMW 3 Series sedan in motion, symbolizing BMW India’s strong sales performance in FY2024.
BMW India secured its second position with an impressive 28 percent year-on-year growth, selling 14,479 units. Uniquely among the top three, BMW sold more sedans than SUVs, with sedans contributing 51 percent to its total volume. The 3 Series remained its best-selling sedan at 2,652 units. Other popular sedans included the 6 Series (1,428 units), 2 Series (1,073 units), and 5 Series (1,059 units). In the SUV segment, the X1 was the top performer with 2,996 units, making it the best-selling midsize luxury SUV in India. It was followed by the X7 (1,644 units), X3 (1,089 units), and the electric iX, which saw remarkable growth.
Audi India Records Robust Sales Increase
alt: An Audi Q3 SUV shown prominently, reflecting Audi India’s significant sales growth driven by SUVs.
Audi India demonstrated strong performance with a 33 percent growth in FY2024, achieving sales of 7,027 units. SUVs were the primary growth driver, accounting for 4,425 units (a 72 percent increase), while sedan sales slightly decreased by 3.9 percent to 2,602 units. Sales of the Q3 quadrupled to 1,965 units. The Q7 (742 units, up 23 percent) and Q5 (735 units) were neck-and-neck for the next best-selling Audi SUV spot. The Q3 Sportback added 658 units. Among sedans, the A4 saw a remarkable 50 percent growth, reaching 1,521 units, whereas the A6 experienced a sales decline of over 40 percent, down to 920 units.
alt: Bar chart comparing luxury SUV sales in India for FY2024 versus FY2023 across different brands like Mercedes, BMW, Audi, Land Rover, Volvo.
Land Rover Climbs the Ranks
Land Rover India achieved impressive 82 percent growth, selling 3,061 units and moving up to the fourth position, overtaking Volvo. The brand’s resurgence was largely fueled by the popular Land Rover Defender, which sold 1,314 units – a 2.5-fold increase compared to FY2023. High demand for premium models was evident, with the Range Rover Velar (556 units) and Range Rover Sport (404 units) being the next most popular choices. The flagship Range Rover found 394 buyers, while the Evoque’s sales rose 13 percent to 190 units. The Discovery Sport sold 197 units (up 26 percent).
Volvo Auto India Maintains Steady Growth
alt: A white Volvo XC60 SUV parked, representing Volvo Auto India’s sales performance in the luxury segment.
Volvo Auto India slipped back to fifth place despite a healthy 27 percent year-on-year growth, selling 2,522 units. The XC60 SUV was its best-seller with 867 units, followed by the XC40 (769 units), XC90 (449 units), and the electric C40 (212 units). The S90, its sole sedan offering, recorded 225 sales.
Mini and Jaguar Performance
alt: A Mini Countryman crossover SUV, highlighting Mini’s sales contribution within the BMW Group.
Mini, part of the BMW Group, reported sales of 937 units, marking a 34 percent increase. The Mini Countryman was the dominant model, accounting for nearly 75 percent of the brand’s sales with 695 units.
alt: A Jaguar F-Pace SUV shown dynamically, representing Jaguar India’s position in the luxury market.
Jaguar India ranked seventh with 272 units sold, reflecting a 22 percent growth. The F-Pace SUV led its sales with 221 units, followed by the electric I-Pace (31 units) and the F-Type sports car (20 units).
Lexus Reports Significant Growth
Japanese luxury brand Lexus, celebrating seven years in India, announced a substantial 63 percent year-on-year growth in FY2024. While specific numbers were not shared in the JATO data context, Lexus highlighted the NX350h SUV and the ES300h sedan as its most popular models in the Indian market.
alt: Pie chart illustrating market share percentages for luxury car brands in India during FY2024.
Luxury EV Market: BMW Takes the Lead
alt: BMW iX electric SUV, signifying BMW’s leadership in the growing luxury EV segment in India.
The luxury electric vehicle segment is also gaining traction, with manufacturers introducing advanced technology and new models. Retail sales data indicates that 2,870 luxury EVs were sold in FY2024. BMW India dominated this space, accounting for nearly half of the sales with 1,421 units. Its iX model alone sold 738 units, a staggering 729 percent growth. Volvo India followed with 598 EV units, Mercedes-Benz India with 564 units, Audi India with 165 units, and Porsche with 114 units.
Conclusion
The luxury car market in India showed remarkable resilience and growth in FY2024, driven significantly by the SUV segment. While Mercedes-Benz held onto its crown, BMW’s strong performance narrowed the gap considerably. Audi also posted significant gains, solidifying the dominance of German brands. Land Rover’s impressive growth highlights the appeal of its rugged yet luxurious SUVs. The increasing sales across most brands, including the burgeoning luxury EV market led by BMW, suggest continued positive momentum. This detailed brand performance gives insight into the dynamics shaping the market for the Top 10 Selling Luxury Cars In India.
Data Source: JATO Dynamics India
