‘Affluent classes still conservative in buying luxury’1 min read . Updated: 05 Dec 2022, 01:16 PM IST
However, a growing breed of young luxury buyers with high disposable incomes have a greater tendency to spend on top-end cars, says Santosh Iyer of Mercedes-Benz India.
A cultural leaning towards building a comfortable nest egg to compensate for future uncertainties rather than splurging on luxury poses a challenge for luxury carmakers in India when it comes to growing the market, despite the increasing number of wealthy people, a top company executive said.
Login to enjoy exclusive benefits!
- Unlocked premium articles
- Personalized news
- Market Watchlist
- Insightful Newsletters & more