India’s Top Selling Premium Cars: FY2024 Sales Analysis
The Indian automotive market has mirrored a global trend over the past three years, witnessing a significant surge in demand for premium, luxury, and super-luxury vehicles. In the fiscal year 2024 (FY2024), cumulative sales from seven prominent luxury car manufacturers reached 45,311 units, marking a substantial 20.5 percent increase compared to the previous year, according to data from JATO Dynamics India. This growth underscores the rising appetite for high-end automobiles among Indian consumers, making the analysis of the Top Selling Premium Cars In India particularly relevant.
Demand was notably strong for luxury SUVs, which saw sales climb by 34 percent to 27,489 units. In contrast, luxury sedans experienced more modest growth, with sales increasing by 6.5 percent to 17,569 units. The market remains dominated by German manufacturers, with Mercedes-Benz India holding the top spot, closely followed by a rapidly growing BMW India. Audi India also posted significant gains.
Mercedes-Benz Retains Lead
Mercedes-Benz C-Class sedan driving on a road, representing the brand's strong sedan sales in India's premium car market
Market leader Mercedes-Benz India reported sales of 17,013 units in FY2024, a 3 percent increase over the previous fiscal year. SUVs constituted 56 percent of their total volume, with sedans making up the remaining 44 percent. Significantly, one in every four vehicles sold by Mercedes-Benz belonged to the top-end segment, defined by the company as vehicles priced above Rs 1.5 crore.
The brand’s sedan portfolio, including the A-Class, C-Class, LWB E-Class, and S-Class, performed robustly. The outgoing Long Wheelbase (LWB) E-Class continued its reign as the highest-selling Mercedes-Benz model, achieving 3,561 unit sales, up 12.7 percent. Among its SUVs, the GLE, which was India’s top-selling luxury SUV in the prior year, led demand with 2,349 units (up 8.2 percent). It was followed by the GLA (2,213 units) and the GLC (1,925 units). The larger GLS recorded 1,529 sales but experienced a nearly 31 percent decline compared to FY2023. The iconic G-Class sold 219 units. In the electric vehicle space, the EQB and EQE SUVs sold 311 and 116 units respectively, though competitor BMW achieved much higher volumes with its electric offerings.
BMW Shows Strong Growth, Closes Gap
White BMW X1 SUV parked, highlighting BMW India's best-selling SUV in the competitive luxury segment
BMW India maintained its second position in the luxury market, achieving impressive sales of 14,479 units, representing a 28 percent year-on-year growth. Uniquely among the top three, BMW sold more sedans than SUVs in FY2024, with sedans contributing 51 percent of its total volume. The 3 Series remained its best-selling sedan with 2,652 units. Other strong performers included the 6 Series (1,428 units), 2 Series (1,073 units), and 5 Series (1,059 units). In the SUV category, the X1 was the top seller with 2,996 units, also earning the title of the best-selling midsize luxury SUV in India. It was followed by the X7 (1,644 units), X3 (1,089 units), and the highly successful iX electric SUV, which sold 738 units, marking an exceptional 729 percent growth.
Audi Records Robust Growth
Red Audi Q3 SUV, showcasing Audi India's significant sales growth driven by its popular SUV lineup
Audi India demonstrated strong performance in FY2024, selling 7,027 units for a notable 33 percent growth. SUVs were the primary drivers of this success, accounting for 4,425 units (a 72 percent increase), while sedan sales saw a slight decline of 3.9 percent to 2,602 units. Sales of the popular Q3 SUV surged fourfold to 1,965 units. The Q7 (742 units, up nearly 23 percent) and Q5 (735 units) competed closely for the next spot among Audi’s best-selling SUVs. The Q3 Sportback contributed 658 units. Among sedans, the A4 showed stellar performance with a 50 percent growth to 1,521 units, whereas the A6 saw its sales numbers decrease by over 40 percent to 920 units.
Bar chart illustrating the FY2024 sales figures for top-selling luxury SUVs in India, showing brand performance
Land Rover Climbs to Fourth Position
Registering an impressive 82 percent growth by selling 3,061 units, Land Rover India moved up one rank to capture the fourth spot in the luxury market, overtaking Volvo Auto India. The Tata Motors-owned SUV specialist benefited significantly from the popularity of the Land Rover Defender, which sold 1,314 units – a 2.5 times increase over the previous year. Indicating strong demand for higher-end models, the Range Rover Velar (556 units) and Range Rover Sport (404 units) were the next most popular choices. The flagship Range Rover, the brand’s most expensive offering, found 394 buyers. Sales of the Range Rover Evoque increased by 13 percent to 190 units, while the Land Rover Discovery Sport sold 197 units (up 26 percent).
Volvo Slips but Grows
Volvo XC60 SUV, Volvo Auto India's best-selling model in the FY2024 premium car market
Volvo Auto India slipped back to the fifth position it held in FY2022, despite achieving a healthy 27 percent year-on-year growth with 2,522 units sold. The XC60 SUV was its most sought-after model, recording 867 unit sales. It was followed by the XC40 (769 units), the XC90 (449 units), and the C40 electric model (212 units). The S90, Volvo’s sole sedan offering, registered 225 sales.
Mini and Jaguar Performance
Mini Countryman parked outdoors, representing the top-selling model for Mini in India during FY2024
The BMW Group’s Mini brand sold 937 units in FY2024, achieving a 34 percent growth. The Mini Countryman was the standout performer, comprising nearly three-fourths of the brand’s total sales with 695 units.
Jaguar F-Pace SUV, the leading model for Jaguar India's sales in the premium segment for FY2024
Jaguar India secured the seventh position with 272 units sold, marking a 22 percent increase. The F-Pace SUV was the primary contributor, accounting for 221 units. The electric I-Pace sold 31 units, and the F-Type sports car sold 20 units.
Lexus Highlights Significant Growth
Japanese luxury brand Lexus, which recently completed seven years of operation in India, announced a substantial year-on-year growth of 63 percent in FY2024. While specific unit figures were not detailed in the source data comparable to other brands, Lexus identified its most popular models in India as the NX350h SUV and the ES300h sedan.
Chart comparing FY2024 vs FY2023 sales data for luxury car brands in India, showing percentage growth
Luxury EV Segment: BMW Dominates
Luxury vehicle manufacturers in India have been actively expanding their electric vehicle (EV) portfolios with advanced technology and new models. According to retail sales data from JATO Dynamics India, a total of 2,870 luxury EVs were sold in FY2024. BMW India emerged as the clear leader in this segment, accounting for nearly half of all sales with 1,421 units. Volvo India followed with 598 units, Mercedes-Benz India sold 564 units, Audi India registered 165 units, and Porsche sold 114 luxury EVs.
Chart displaying market share or sales data for luxury electric vehicles (EVs) in India during FY2024, with BMW leading
Conclusion
In summary, FY2024 was a year of strong growth for the premium and luxury car segment in India, with overall sales increasing by over 20 percent. SUVs continued to drive much of this growth, significantly outpacing sedans. German manufacturers Mercedes-Benz, BMW, and Audi remain the dominant forces, with Mercedes-Benz holding the lead but BMW making significant gains. Land Rover also showed remarkable growth, climbing into the top four. The luxury EV market is rapidly evolving, with BMW establishing a commanding lead. The performance of the Top Selling Premium Cars In India highlights a dynamic market with increasing consumer preference for high-end features, performance, and electrification.
Data Source: JATO Dynamics India
