Expensive & Luxury Cars in Hyderabad:
Bhagyanagar is evolving into a center for the affluent, living true to its name. There are a lot of pricey automobiles in Hyderabad. About 20 of the more than 70 high-end luxury vehicles that are sold each day in India are purchased by residents of Hyderabad. In addition to these, high-end TVs, refrigerators, and smartphones are selling better. The number of individuals purchasing iPhones is rising as more people view them as a status symbol and luxury.
Demand for high-end luxury vehicles:
High class children are choosing sporty-looking, quick cars, while others are purchasing expensive vehicles to make a statement in society. High-end luxury vehicles costing between 50 lakh and 2 crore rupees are in greater demand as a result. All of the premium car companies, including Mercedes Benz, BMW, Audi, Volvo, Volkswagen, Toyota, Jaguar-Land Rover, Porsche, and Rolls Royce, are based in Hyderabad. A Bentley sports car valued at five crores is also on the road. Additionally, 20 crore Aston Martin James Bond vehicles are arriving in Hyderabad.
Both Sachin’s prized Ferrari and Mahendra Singh Dhoni’s Hummer have reservations in Hyderabad, according to insiders in the automotive sector. Naturally, the primary customers of luxury vehicles are businesspeople, politicians, and celebrities. However, the list has grown pretty long. Top executives who commute to their jobs at huge firms usually use vehicles from brands like Benz, BMW, and Audi. The list of affluent people has also expanded in sectors including IT, pharmaceuticals, real estate, and autos.
Sales of luxury vehicles grew by 55%:
Nevertheless, it has gradually diminished since the time of Covid. Currently, luxury vehicle sales are higher than they were before to Covid. As middle-class income has declined and the price of necessities has increased, purchases of some devices and cars have reduced. High-end vehicles and electronics, however, are very popular. in accordance with information from Automobile Market Intelligence. At the start of this year, sales of luxury vehicles increased by 55%. India has surpassed other luxury automobile manufacturers like Lamborghini, BMW, Motorrad, and Mercedes-Benz in terms of sales. In 2021–2022, 27 thousand 348 vehicles were sold, including 11 thousand 576 Mercedes Benz vehicles, 8 thousand 496 BMW vehicles, 3 thousand 294 Audi vehicles, 14 hundred 66 Volvo vehicles, 1 thousand 21 Range Rover vehicles, 666 Land Rover vehicles, 634 Mini vehicles, and 195 Jaguar vehicles.
consumer understanding Sales of electronic products, such as TVs bigger than 55 inches, increased by 66% between January and May, according to GFK India. 44 percent of all refrigerator sales are made by units with a capacity more than 350 litres. Sales of washing machines with a load size more than 8 kg increased by 29%. Sales of high-end gaming laptops increased by 107%. The German electrical firm Bosch reports a 70% increase in sales of its products.
Demand for high-end goods has grown:
Sales of iPhones have increased by 23% in India since last year. The iPhones were the priciest models, costing Rs 70,000. Furthermore, the market for smartphones with a 30-thousand-unit-per-year sales rate or higher has increased by 1.5 times. Along with buying more iPhones, more people are also buying Samsung and One Plus phones. Second-tier cities like Warangal, Karimnagar, Khammam, and Nizamabad have also noticed a growth in demand for luxury products outside of big cities.
