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Luxury car maker <keyword id="19980471" type="General" weightage="20" keywordseo="Mercedes-Benz" source="keywords" meta.keywordsubtype="org" meta.entityname="Mercedes-Benz" meta.hostid="261" meta.entityid="Mercedes-Benz">Mercedes-Benz</keyword> India on Monday expanded its <keyword id="20763359" type="General" weightage="20" keywordseo="Battery-Electric-Vehicle" source="keywords">Battery Electric Vehicle</keyword> (BEV) range in the country with the launch of the locally produced <keyword id="23188212" type="General" weightage="20" keywordseo="EQS-580-4MATIC" source="keywords">EQS 580 4MATIC</keyword>. India is the first country outside the US to start the <keyword id="20805504" type="General" weightage="20" keywordseo="local-production" source="keywords">local production</keyword> of the seven-seater electric SUV. EQS SUV 580 4MATIC is the second model, after the EQS sedan, to be locally produced at company's Pune-based manufacturing plant. "This will be our sixth EV in India, and the second car to be locally produced in India. We are also proud that India becomes the first market out of the US to locally manufacture the EQS," Mercedes-Benz India Managing Director and CEO Santosh Iyer told PTI in an interaction. The move to manufacture the product locally outlines the company's commitment to electrification and increasing product portfolio offering choices to customers, he added. "EQS SUV's localisation underpins our deep commitment to grow the Indian <keyword id="23188213" type="General" weightage="20" keywordseo="luxury-electric-car" source="keywords">luxury electric car</keyword> market and reinforce our commitment for a greener and sustainable future," Iyer said. The move also supports the government's vision of Make-in-India, he said. Iyer said local production has led to a significant advantage in terms of pricing the electric SUV. The introductory price of EQS SUV 580 4MATIC starts at Rs 1.41 crore which should also make a lot of customers shift to EVs much faster in terms of transition, he said. When asked about the demand for green vehicles, Iyer said the sales of EVs were growing in the country with even high-end products finding acceptance. "The EQA sedan which was introduced in India around 18 months back, we have sold more than 500 cars. It's a car costing more than Rs 1.6 crore. Our total penetration of EVs is 5 per cent today, it's growing. For sure, customer acceptance is there," he stated. Iyer noted that the company remains committed to offer top-end luxury EV products offering higher range in the market. He noted that there may be more opportunities in the entry EV segment but the focus of the company firmly remains on bringing luxury products in the market. "To bring products at lower price points, that is not our current strategy," Iyer said. The company aims to offer products with higher driving range, a factor that leads to bigger battery and escalation in price, he added. The EQS SUV 580 4MATIC is India's longest range electric SUV with ARAI certified range of 809 kms. Iyer said the company remains committed to the Indian market and has announced an additional investment of Rs 200 crore earlier towards manufacturing operations, new product start-ups and digitisation of manufacturing processes. The company till date has invested over Rs 3,000 crore in India, he added. In the January-September period this year, Mercedes-Benz India has launched three new BEVs ' EQA, EQS SUV 580 and Mercedes-Maybach EQS 680 SUV. With the EQS SUV 580 4MATIC, the company now offers the EQA, EQB, EQE SUV, EQS SUV, EQS sedan and Maybach EQS SUV 680 in the market. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/arkade-developers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113384216.cms">Arkade Developers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-and-samsung-accused-of-colluding-with-amazon-and-flipkart/articleshow/113381204.cms">Xiaomi and Samsung accused of colluding with Amazon and Flipkart</a> <a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-neo-with-dimensity-7300-50mp-camera-launched-in-india/articleshow/113386868.cms">Motorola Edge 50 Neo with Dimensity 7300, 50MP camera launched in India</a>

Mercedes expands BEV range; rolls out second locally produced model in India

Italian <keyword id="19946118" type="General" weightage="20" keywordseo="luxury" source="keywords">luxury</keyword> carmaker <keyword id="20673655" type="General" weightage="100" keywordseo="Maserati" source="keywords" meta.keywordsubtype="org" meta.entityname="Maserati" meta.hostid="153" meta.entityid="Maserati">Maserati</keyword> believes <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> has the potential to be among its top ten global markets in the mid term with the country's <keyword id="20041662" type="General" weightage="20" keywordseo="entrepreneurs" source="keywords">entrepreneurs</keyword> driving its sales, according to the company's Head of Overseas Markets, <keyword id="22976712" type="General" weightage="20" keywordseo="philippe-claverol" source="keywords">Philippe Claverol</keyword>. The company, which on Friday launched its <keyword id="22975850" type="General" weightage="20" keywordseo="granturismo" source="keywords">GranTurismo</keyword> model with prices starting at Rs 2.72 crore, is also studying the feasibility of introducing its <keyword id="19906970" type="General" weightage="20" keywordseo="electric-vehicle" source="keywords">electric vehicle</keyword> range in India. "Maserati is a luxury brand, so we don't look at huge volume for us. A big market for us is a market where we sell 500 cars a year... but I think in mid term, in few years, I think in India, we can reach this kind of 500 (units a year)," Claverol told PTI here on the sidelines of the launch. He, however, said volume isn't "an objective in itself" for Maserati. He further said,"I know who are the top markets of Maserati worldwide. I think India can become one of the top 10 markets for Maserati in the mid term." Currently, North America, Italy, Switzerland, China, Japan, Australia, Taiwan and the UAE are the top global markets for Maserati and India with less than 50 units sold last year is still a small market, he added. Yet, Claverol said, India is an important market for Maserati. "It is a land of entrepreneurs. A vast majority, 80 per cent of our customers in India are entrepreneurs," he said. Also, India is a country with a lot of appreciation for luxury products, he said, adding "we feel that there is a good match". In order to enhance its presence in India, Maserati is expanding sales network, he said. Maserati already has a <keyword id="20400384" type="General" weightage="20" keywordseo="dealership" source="keywords">dealership</keyword> in Mumbai and opened a new one on Friday here in the national capital and will open one in Bengaluru later this year, Claverol said. "We see that the North India market is bigger actually than the Mumbai market and we also think that Bengaluru is the third pillar. This dealership expansion is also because we want to go where the markets are in terms of volume," he said. Asked about plans for launching electric vehicles in India, Claverol said Maserati has the electric version of the conventional engine models under the Folgore range globally and the company will study the feasibility of bringing it in India. "We will, with our partners, start to look at how is the market, how to train our people, how to train the technicians, how to analyse, how to build the right offer, the pricing, the charging solution, and so on, and then, once we will be ready, we will look at the pricing, and we will obviously try to launch the Folgore range as well," he said. Asked about the timeline for a possible launch of the electric range, he said,"The sooner, the better. The cars are available."

India has potential to be in Maserati's top 10 global markets in mid term: Co-official

Luxury carmakers <keyword id="19980471" type="General" weightage="20" keywordseo="Mercedes-Benz" source="keywords" meta.keywordsubtype="org" meta.entityname="Mercedes-Benz" meta.hostid="153" meta.entityid="Mercedes-Benz">Mercedes-Benz</keyword>, <keyword id="19911529" type="General" weightage="20" keywordseo="Audi" source="keywords" meta.keywordsubtype="org" meta.entityname="Audi" meta.hostid="153" meta.entityid="Audi">Audi</keyword>, and <keyword id="19911528" type="General" weightage="20" keywordseo="BMW" source="keywords" meta.keywordsubtype="org" meta.entityname="BMW" meta.hostid="153" meta.entityid="BMW">BMW</keyword> are eyeing robust sales during the festive period this year with demand for <keyword id="20194571" type="General" weightage="20" keywordseo="High-end-cars" source="keywords">high-end cars</keyword> continuing to see an upward trend in India. In an interaction with PTI, Mercedes-Benz India MD and CEO Santosh Iyer said the luxury car segment is set for its best-ever performance this year with <keyword id="19894908" type="General" weightage="20" keywordseo="Festive-season" source="keywords">festive season</keyword> offtakes playing a major role in the overall performance. He noted that the festive season generally gives high double-digit <keyword id="20040491" type="General" weightage="20" keywordseo="Sales-growth" source="keywords">sales growth</keyword>, helping the automaker to average out single-digit growth of the earlier quarter. "So in that sense, on an average, then we are able to get a double-digit growth during the festive season," Iyer stated. Elaborating on the overall industry, which still remains a very small part of the overall passenger vehicle market in the country, he said the segment is headed for record volumes this fiscal year but not all players are witnessing growth." Some (companies) are even degrowing, some are flat and they are facing headwinds, but because we are the primary player in the market, we still feel the luxury car market should cross 50,000-51,000 cars this year," Iyer said. The luxury car market in India currently remains very small accounting for less than 2 % of the overall passenger vehicle market in the country. Audi India Head Balbir Singh Dhillon said the automaker anticipates positive buying trends to continue during the festive season. "Our best-selling models - the A4, A6, Q3, Q3 Sportback, Q5, Q7, and the newly launched Q8 - continue to drive robust demand," he added. The company is equally optimistic about the e-tron range, the e-tron GT and RS e-tron GT, Dhillon said. BMW Group India President Vikram Pawah said the fundamentals of the Indian economy are sturdy and consumer confidence in the luxury segment is on the rise. "For BMW Group India, the order bank is solid and we are trying our best to speed up deliveries for our customers. Along with additional bookings around Diwali and Dussehra, we are confident of closing the year on a high note while clocking impressive growth," he stated. He noted that the group is witnessing very strong demand for products across all segments. Pawah said that in the run-up to the festive season, the company has introduced several special editions of its existing model range. The festive season usually commences with Onam and ends with Diwali every year.

Luxury carmakers Mercedes, Audi, BMW expect robust sales this festive season

New Delhi: India is set to enter a transformative "smartphone era" for cars in 2025, with the introduction of vehicles featuring 5G M2M connectivity and advanced AI technologies, according to the latest findings from Techarc's India Connected Consumer Report 2025. The report said the automotive sector will skip 4G and will enable connectivity using the latest 5G cellular technology. It observed that consumers are interested in spending money on improving the value proposition in terms of features, quality and experience rather than exploring too many smart devices. "22 per cent of the respondents shared about considering optimising their smart devices portfolio. Among the new set of categories, smart/connected cars is generating high interest among consumers. 55 per cent of the respondents said that they have come across news or information about smart/connected cars in recent times," it said. Starting in 2025, passenger cars in India will be equipped with 5G M2M connectivity, on-device GenAI, and cloud connectivity, making advanced technologies accessible across various price segments, it added. In-vehicle computing and artificial intelligence (GenAI), along with cloud applications, will become essential components of cars, enabling real-time data processing to support drivers effectively. Most cars priced at Rs 20 lakh and above will feature these technologies as standard. The cumulative revenues from automotive chipset companies have already surpassed USD 1.5 billion, with companies like Qualcomm and MediaTek leading the market. Some of the familiar applications that consumers will be able to use while driving include communication apps for audio/video conferencing, OTT entertainment apps, music streaming, podcasts, online shopping, vehicle maintenance, and servicing. "With connectivity and the technologies it brings to the cars, the future of the automobile sector will be fundamentally determined by the auto-technologies that will influence the overall experience, performance, comfort, safety and entertainment available to the drivers as well as the passengers. "So far, such features were seen as luxury or high-end experiences. But starting 2025, many of these will become mainstream for cars in India," Techarc AutoTech Analyst Sadat Ahanger said. With 22 automobile manufacturers producing nearly 5 million passenger vehicles annually in India, the country is poised to become a leader in the global 5G M2M market within the next few years, the report said. About 21 per cent of respondents said MG Motors is the leader in providing <keyword id="24016739" type="General" weightage="20" keywordseo="connected-cars-in-India" source="keywords">connected cars in India</keyword>, followed closely by Kia Motors at 18 per cent and Tata Motors at 15 per cent, it added. Hyundai and Maruti Suzuki also ranked among the top-five brands in this category. The report draws insights from a survey of 4,500 "connected consumers" across metro and non-metro cities. The report defined a connected consumer as one owning at least 3 smart devices in addition to a smartphone.

India to shift to 'smartphone era' for cars embracing 5G, advanced AI in 2025: Report

<div type="image" title="Indians are getting fancy, and they don&amp;#39;t mind paying a little extra if it means quality and luxury. Most consumer brands are witnessing an uptick in their premium product segment" msid="115018213" hostid="261" caption="&amp;lt;p&amp;gt;Indians are getting fancy, and they don&amp;#39;t mind paying a little extra if it means quality and luxury. Most consumer brands are witnessing an uptick in their premium product segment&amp;lt;/p&amp;gt;"></div> It's time to move over from plain, vanilla budget basics! Indians are no longer looking for “best purchases and value buys under Rs 1,000”—at least not as much as before. <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s getting fancy, and how! From gold-flaked chocolates to swanky SUVs that look like they’re wheeled straight out of a Bollywood blockbuster, Indian companies are rapidly jazzing up their product lines, even faster than you can say the word "premiumization." But what does this mean for Indian companies and consumers? What is this jazz about premiumization all about? Is it just urban India that’s riding this wave, or has rural India also joined the bandwagon? We decode for you. <h2>What's premium, really?</h2>Imagine you’re eating Pav Bhaji at a roadside thela. Later during the day, you decide to dine out at a fancy, upmarket cafe, only to find Pav Bhaji Fondue on the menu. Same same, but much more expensive—often 5 to 10 times higher—for a little more hygiene and some better ambience! Think of premium products as this fondue. They are a notch up your regular, daily-use products soaps or shampoos, and even cars, all packaged luxuriously, offering just about the right touch of quality. The main differentiator, though, would be the price range. <h2>Driving home premium wellness</h2>A recent report by Nielsen suggests that over 70% of urban Indians are okay with paying a premium for their products. And companies are cashing in on this sentiment like never before. This explains why 58% of new products launched so far this year have been in the premium+ segment, as opposed to just 38% of new launches in regular, traditional trade. Take cars, for instance. Indians are no longer vying for a good old <keyword id="19950117" type="General" weightage="20" keywordseo="maruti" source="keywords">Maruti</keyword> 800 or <keyword id="20400567" type="General" weightage="20" keywordseo="alto" source="keywords">Alto</keyword>, traditionally known for their healthy mileage, but are rather happy investing in more swanky features that come along with high-end cars. In October 2024, India’s largest car manufacturer, <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword>, sold 65,948 units of its compact cars like Swift, WagonR, Dzire, and more. Compared to the year-ago period, which saw sales of 80,662 units, this was an 18% dip. But take a look at their SUV (sport utility vehicle) sales for the same period. Cars like Brezza, Ertiga, and Grand Vitara sold about 70,644 units, a 19% uptick from the sales made in October 2023, i.e. 59,147 units. Simply put, when it comes to cars, Indians are saying the bigger, the better! The same is true for India's second biggest automobile manufacturer, Hyundai. Its SUV lineup made up a staggering 68.2% of the firm's total sales made for October 2024. What's more, SUV demand remained largely consistent across urban and rural markets. <h2>Consumers are inching up</h2>FMCG (fast-moving consumer goods) are also riding the premiumization wave, with Indians prioritizing their health and wellness and not bothered about dishing out a few extra bucks for the same! You’ll find no dearth of words like organic, vegan, gluten-free, and sugar-free, peppered generously over every product you’ll see today, be it soaps, juices, or more. No wonder then, sales from premium segments in 2024 make up around 27% of all FMCG sales and even contribute a massive 42% to the sector’s value growth in India. Nielsen report further adds that luxury brands that position themselves at twice the price of their category’s average are even witnessing stellar growth. In fact, for most FMCG brands like Tata Consumer Products, <keyword id="20002610" type="General" weightage="20" keywordseo="hindustan-unilever" source="keywords">Hindustan Unilever</keyword> (HUL), Dabur, and Nestle, it is this premium segment that is growing much faster than their regular ones. And it's not just about daily-use products; Indians are also taking their celebrations a step over. Spirits manufacturer <keyword id="20125704" type="General" weightage="20" keywordseo="radico-khaitan" source="keywords">Radico Khaitan</keyword> highlighted that for the first half of 2024, their prestige &amp; above segment made for 88.4% of its net sales value. In the same period, the regular popular segment accounted for just 9.1% of their net sales. From Hindustan Unilever, which saw its premium products grow 30% over the last quarter, to <keyword id="20521971" type="General" weightage="20" keywordseo="kingfisher" source="keywords">Kingfisher</keyword> beer's parent company, <keyword id="20124009" type="General" weightage="20" keywordseo="united-breweries" source="keywords">United Breweries</keyword>, whose premium product sales volume jumped by 27% during the quarter as opposed to just a 5% rise in overall volumes, everyone is seemingly taking their lifestyle a notch above. Per the Nielsen report, in 2024, a typical global consumer spends about $13.7k per year. This is set to grow by around 2.4% to $14k as early as next year. Even a report by Goldman Sachs also highlighted a similar trend, noting that India’s affluent class, or those earning over $10,000 (Rs 8,42,694.97), is set to reach 100 million in the next 3 years. And where will this consumer spend? On premium products! <h2>Online shopping shifts from mass to class</h2>Amazon’s Great Indian Shopping Festival, which was live between September 27 and October 29 this year, saw 140 crore customers, more than 85% of whom came from non-metro Indian cities. On the site, there was a 400% spike in sales in premium sales across categories like watches, fragrances, handbags, jewelry, and more. Rival <keyword id="19896939" type="General" weightage="20" keywordseo="flipkart" source="keywords">Flipkart</keyword> noted a similar trend, recording 1.8x growth in premium beauty and personal care products during the first half of this year. <h2>Dialing in premiumness</h2>The Indian smartphone ecosystem has always been dominated by basic phones, or those entry- and mid-range phones that are priced between Rs 10,000 and Rs 6,000. But that has changed in recent times, with premium smartphones (i.e., those priced over Rs 60,000) registering 20%+ growth in 2024. During the first quarter of this year, sales of mass phones (priced between Rs 10,000 and 20,000) reached 44%, compared to 51% in the year-ago period. But it's all sunny and shiny in the mid-premium (priced between Rs 40,000 and Rs 60,000) and super-premium segments (priced above Rs 60,000). Sales growth has burgeoned by as much as 27% and 86% in these categories, respectively. As India continues its march toward becoming the world's third-largest economy by 2027, the premium party is just getting started. Industry experts predict that premium segments will grow faster than you can say "sustainable organic handcrafted artisanal batch of coffee." So the next time you see someone dropping serious rupees on a fancy bottle of black water that also somehow plays music and tracks their hydration (yes, that's a thing), remember: This is just the trailer. Picture abhi baaki hai, mere dost! Do you have a topic in mind you'd want a simpler explanation for, or insights or experiences to share on personal finance and more? Contact us at businessinsider@timesinternet.in.

Simply Put: From Dal to Dolce—India is loving its luxury life

<ul class="summary-list"><li>Europe's luxury carmakers once dominated in China, but are now under intense pressure.</li><li>BMW, Mercedes-Benz, and Porsche have all reported slumping sales in the world's largest auto market.</li></ul>The days of European carmakers dominating China's luxury vehicle market are over.Germany's <a target="_blank" href="https://www.businessinsider.com/germany-auto-giants-volkswagen-bmw-mercedes-struggle-sales-china-evs-2024-10">BMW</a> and <a target="_blank" href="https://www.businessinsider.com/mercedes-benz-sliding-ev-sales-and-weak-demand-in-china-2024-10">Mercedes-Benz </a>have suffered a sales slump in the world's largest auto market in recent months amid rising pressure from a wave of Chinese EV upstarts.BMW reported a one-third decline in Chinese sales in the most recent quarter, while deliveries of new Mercedes cars dropped 10% in the first nine months of the year. Its high-end S-Class range was particularly affected as some consumers cut spending amid a <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-3q-gdp-growth-stock-market-stimulus-2024-10">faltering economy</a>.Aston Martin, a luxury British brand famous for its association with James Bond, said sales in China had fallen by more than half this year in its third-quarter earnings.Meanwhile, Porsche, owned by Volkswagen, said it would shrink its Chinese dealer network amid plunging profits and a 29% slide in sales in China in the nine months to September 30.The German company has seen stalling demand for its luxury vehicles, with sales of the $100,000 electric Taycan down 47% globally in the same period.<div type="image" title="The 2023 Porsche Taycan." height="3538" width="5750" msid="114850638" hostid="261" sizebytes="544158"></div><a target="_blank" class="" href="https://www.businessinsider.com/rolls-royce-spectre-ev-interior-tour-photos-review-2023-7">Rolls-Royce</a>, the British marque owned by BMW, has also faced weaker sales in China this year. Its luxury car marker was experiencing "more challenging times," CEO Chris Brownridge told Bloomberg in September.The Chinese market has become increasingly difficult for European brands.Volkswagen was dethroned by <a target="_blank" class="" href="https://www.businessinsider.com/byd-seal-electric-car-review-test-drive-elon-musk-tesla-2024-3">BYD</a> as China's biggest carmaker last year, and the share of China's car market held by German automakers has dropped from about a quarter before the pandemic to less than 15%, according to Bloomberg data."China is an incredible challenge, not just for Porsche," said finance chief Lutz Meschke in comments reported by Reuters. "In the future, we can no longer assume that China will return to where it was for European players."<h2 id="16591c84-687a-45c6-9996-fcfa8cb9e4a0">High-tech competition</h2>Upmarket European automakers are being squeezed by their Chinese rivals.Many are offering vehicles <a target="_blank" class="" href="https://www.businessinsider.com/chinese-ev-makers-battle-for-market-dominance-with-smart-features-2024-5">packed full of novel features and intelligent software</a> of them have growing designs on China's high-end auto market, and areLast year Tesla rival BYD launched the Yangwang U8 SUV last year. The $150,000 hybrid has a motor on each wheel that allows it to move <a target="_blank" class="" href="https://www.businessinsider.com/byd-chinese-tesla-rival-yangwang-u9-supercar-jump-dance-2023-4">like a crab</a>.The U8 also comes with an onboard drone, and BYD says it can even <a target="_blank" class="" href="https://www.businessinsider.com/china-ev-giants-innovation-ai-auto-show-european-rivals-despair-2024-10">float on water for up to 30 minutes</a>.Other Chinese automakers have gone to even greater lengths to stand out in the country's red-hot auto market, with Zeekr showing off the spacious and luxurious interior of its MIX minivan by having an executive eat a hot pot inside it.<div type="image" title="Zeekr Mix" height="3024" width="4032" msid="114850635" hostid="261" sizebytes="755406"></div>The competitiveness of the Chinese market means consumers don't need to spend a fortune to obtain luxury vehicles.The SU7, an electric sedan built by Chinese smartphone maker Xiaomi, is <a target="_blank" class="" href="https://www.businessinsider.com/xiaomi-su7-chinese-ev-features-specs-photos-ford-ceo-2024-10">packed with high-tech features</a> including a 16.1-inch infotainment screen and remote voice control that allows drivers to control household appliances from the car.But it is also relatively affordable, with the base version starting at 215,900 yuan ($30,300) and the high-end SU7 Max priced at 299,900 yuan ($42,100). Xiaomi has just <a target="_blank" class="" href="https://www.businessinsider.com/chinese-ev-xiaomi-su7-driven-by-fords-ceo-faster-model-2024-10">unveiled a high-performance version of the SU7</a> that costs 814,900 yuan ($114,000).Steve Dyer, managing director at AlixPartners, a London-based consulting firm, told Business Insider that Chinese manufacturers were encroaching on the premium market from the "bottom up," targeting the lower segment before gradually releasing more expensive vehicles aimed at less price-sensitive customers."The Chinese companies are doing what the Korean companies did to get market share outside Korea, and that is to offer a lot of feature content for a good price," he said.Dyer said Chinese buyers often focused on luxurious interiors, as well as intelligent technology such as advanced driver assist systems — an area in which <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-full-self-driving-technology-china-local-competition-2024-4">Chinese automakers excel</a> and their European rivals have struggled to keep up."They've fallen behind in the sense that they're applying an automotive product development mindset to a fast-moving, rapidly changing, technology space," said Dyer.A study by AlixPartners found that Chinese automakers released 40 over-the-air software updates between March 2023 and February this year, compared with just two from legacy automakers."It's a typical software mindset. You're willing to launch a product quickly, even though it may need fixing later because you know you can fix it," said Dyer.<h2 id="a63ec01b-1782-4334-a38c-155f7b0a6f6e">Hard to quit</h2>Despite a challenging environment, Western premium automakers can ill afford to give up on China. It remains Volkswagen's second- biggest global market, behind Western Europe, and Mercedes sold around a third of its cars there last year.<div type="image" title="Xiaomi SU7" height="1663" width="2500" msid="114850641" hostid="261" sizebytes="189460"></div>They're likely to face a bumpy road as they try to recover, however.Because the premium vehicle market is less price-sensitive, Dyer said more Chinese automakers will move into it to diversify away from China's brutally competitive mass market.As well as increased competition, European automakers face a geopolitical headache.Tim Urquhart, principal automotive analyst at S&amp;P Global Mobility, told BI the <a target="_blank" class="" href="https://www.businessinsider.com/chinese-electric-vehicles-european-tariffs-retaliation-vw-bmw-mercedes-tesla-2024-10">European Union's tariffs on Chinese automakers</a> meant Beijing could impose levies on European car imports in retaliation."They could be facing a perfect storm if those tariffs are imposed as well," he said.Even if that does happen, Urquhart said the sheer size of the Chinese market means it's unlikely that major Western automakers will abandon it anytime soon. "They can't afford to make a full-scale retrenchment and retreat from their current position, especially as they've invested so much there."

Luxury European automakers are getting crushed in China

As part of his ambition to make <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> a green economy, Union minister <keyword id="19897455" type="General" weightage="20" keywordseo="nitin-gadkari" source="keywords">Nitin Gadkari</keyword> wants to slash GST on hybrid vehicles and has vowed to rid the country entirely of the over 36 crore petrol and diesel vehicles. "One hundred per cent," <keyword id="19934966" type="General" weightage="20" keywordseo="gadkari" source="keywords">Gadkari</keyword>, the Union Minister for Road Transport and Highways, said when asked whether it is possible for India to get rid of petrol and diesel cars altogether. "It is difficult but not impossible. This is my vision," Gadkari said in an interview to PTI. He said India spends Rs 16 lakh crore on fuel imports. This money will be used for improving the life of farmers, villages will be prosperous and the youth will get employment, the minister said. Gadkari did not give any timeline to meet this ambitious target which even proponents of green energy believe is mind bogglingly difficult. The proposal to reduce GST on hybrid vehicles to five per cent and to 12 per cent for flex engines has been sent to the Finance ministry which is considering the requisition, Gadkari said. The minister said he firmly believes the country can end fuel import by promoting the use of biofuels. Environmental activists welcomed Gadkari's vision for increasing green mobility, but also struck a word of caution by flagging the use of fossil fuels in the production of electricity. "In India, we are still heavily dependent on a fossil fuel-based energy system to power electric cars, and this needs to be changed. There is urgent need to ensure 100 per cent renewable energy alongside electric vehicles to tackle the climate crisis," <keyword id="21152150" type="General" weightage="20" keywordseo="avinash-chanchal" source="keywords">Avinash Chanchal</keyword>, a campaigner for Greenpeace India, told PTI. Gadkari said he has been pitching for alternative fuels since 2004 and is confident things will change in the coming five to seven years. "I cannot give you a date and year for this transformation to take place as it is very difficult. This is difficult but not impossible," Gadkari asserted. He said he firmly believes that given the speed with which electric vehicles are being introduced, the coming era will be of alternative and biofuels and this dream will come true. Gadkari said auto companies such as Bajaj, TVS and Hero are also planning to manufacture motorcycles using flex engines and auto rickshaws using similar technology too were on the way. "I roam around in a car that runs on hydrogen. You can see electric cars in every other household. People who used to say this was impossible, have changed their views now and started believing in what I have been saying for the last 20 years," the minister said. "Tatas and <keyword id="19906966" type="General" weightage="20" keywordseo="ashok-leyland" source="keywords">Ashok Leyland</keyword> have introduced trucks that run on hydrogen. There are trucks that run on LNG/CNG. There are 350 factories across the country of bio-CNG," he said. "Definitely, a revolution is taking place. The fuel imports will end and this country will become self-reliant - <keyword id="19952544" type="General" weightage="20" keywordseo="atmanirbhar-bharat" source="keywords">Atmanirbhar Bharat</keyword>. I strongly believe in this," Gadkari said. SEE ALSO:<a href="https://www.businessinsider.in/business/telecom/news/ussd-based-call-forwarding-to-be-suspended-soon-to-curb-fraud/articleshow/108933705.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/ussd-based-call-forwarding-to-be-suspended-soon-to-curb-fraud/articleshow/108933705.cms" target="_blank">USSD-based call forwarding to be suspended soon to curb fraud</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-april-2024/slidelist/108869757.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-april-2024/slidelist/108869757.cms" target="_blank">Upcoming cars and two-wheelers launching in India in April 2024</a><a href="https://www.businessinsider.in/tech/apps/news/from-ai-photo-editing-to-international-upi-payments-here-are-upcoming-whatsapp-features/articleshow/108815797.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/apps/news/from-ai-photo-editing-to-international-upi-payments-here-are-upcoming-whatsapp-features/articleshow/108815797.cms" target="_blank">From AI photo editing to international UPI payments, here are upcoming WhatsApp features</a>

Gadkari vows to eliminate petrol, diesel vehicles in India, bats for lower tax for hybrid cars

The Covid-19 pandemic drastically changed the way we work, with <keyword id="20665553" type="General" weightage="20" keywordseo="remote-work" source="keywords">remote work</keyword> quickly becoming the new normal. Employees across the globe adapted to working from home, enjoying newfound flexibility and a better <keyword id="19901232" type="General" weightage="20" keywordseo="work-life-balance" source="keywords">work-life balance</keyword>. And for a long time, we all thought that this was the new world and going to the office every day would be a thing of the past. However, as pandemic restrictions eased, many companies began rolling back these remote policies, pushing employees to return to the office. Tech giant <keyword id="19904608" type="General" weightage="100" keywordseo="Amazon" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon" meta.hostid="261" meta.entityid="Amazon">Amazon</keyword> recently ended remote work for its employees and told them to come to office five days a week, just like how it used to be before the pandemic. Amazon CEO Andy Jassy, in a blog post, said that working from offices has its benefits and therefore all employees will have to start coming to work the entire week. He added that even though they will permit work from home in case of emergencies (taking care of your sick kid, running emergency errands etc), remote work will no longer be the norm. <h2>Companies are calling employees back to offices</h2>Amazon isn’t the only company that has implemented the <keyword id="20007258" type="General" weightage="20" keywordseo="rto" source="keywords">RTO</keyword> (<keyword id="20408795" type="General" weightage="20" keywordseo="return-to-office" source="keywords">return to office</keyword>) mandate. Companies like <keyword id="19945574" type="General" weightage="20" keywordseo="Wipro" source="keywords" meta.keywordsubtype="org" meta.entityname="Wipro" meta.hostid="261" meta.entityid="Wipro">Wipro</keyword>, TCS, X (earlier called Twitter) and Infosys also require employees to be there in office for at least three days a week. While X boss <keyword id="19903807" type="General" weightage="20" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword> had once asked those seeking work from home to “get off of their moral high horse,” Infosys CEO N. R. Narayana Murthy had made headlines for saying that workers in India should work 70 hours per week. In wake of Amazon’s recent RTO mandate, many young professionals are reacting strongly on the internet. While some feel that the RTO mandate will hamper their productivity, others feel that it is simply unnecessary. And then there are also some people who think that this is a good decision. Let us take a look at how people are reacting on being called back to offices. <h2>How are people reacting?</h2>Social media sites like Reddit, X, and LinkedIn are full of reactions on the RTO mandate. Many employees feel that this will increase their cost and time spent on commute. Amazon’s recent decision to bring its employees back to offices has not sat well with many, especially those accustomed to the <keyword id="20445439" type="General" weightage="20" keywordseo="hybrid-work-model" source="keywords">hybrid work model</keyword>. On LinkedIn, Samrat Bhardwaj, who has previously interned with Amazon India, questioned the rationale behind the shift, asking whether the company truly considered employee well-being or was more focused on its own benefits. He also voiced concerns over the increased cost in case employees think of moving closer to tech hubs. He also added that if people start living at a distance from tech parks, rent will be lower, but you'll be wasting a lot of time to and fro from the office every day. On the other hand, Erin Mantz, a former Meta and Amazon employee, pointed out the stark difference between previous work norms and the flexibility of today's workforce in a LinkedIn post. “Gen Xers, for decades, used to have to go in every day... no working from home, no midday walks or being home for the dishwasher repairman,” she said, reflecting on how work-life balance has evolved. She concluded that the shift back to in-office work might not align with modern expectations, suggesting that today’s workforce has experienced a better way of working. <h2>“Working in the parking lot isn’t a bad idea”</h2>People aren’t just concerned about the increased cost and wastage of time in commute. Some also pointed out the irony of commuting to the office only to continue working in their cars due to a lack of proper space and resources. One Reddit user said, “Genuinely had no idea how bad RTO would be until it hit. I'm as unproductive as ever and half my work is done in the parking lot at this point for these exact reasons. Going back to the office isn't the end of the world, but when there's zero space or even disability accommodation for the employees? Unacceptable, especially considering the ones who usually enforce the arrangements all have their own private offices with the best gear their department offers.” Another user, Oracle-2050, quipped that working from their car was a makeshift solution, noting, "At least I can attend Teams meetings and make phone calls." The absurdity of the situation was highlighted by yet another commenter who sarcastically remarked, “Only in clown world would a worker drive to the office in order to do work in their car.” Another user pointed out that the decision-makers pushing these mandates “all have their own private offices with the best gear their department offers,” leaving regular employees to struggle in far less conducive work environments. <h2>The “Fake work” problem </h2> Annie Dean, who earlier used to work as Director of Remote Work at Facebook, took a critical stance on LinkedIn, highlighting that return-to-office mandates don’t address the core problem which is “Fake work.” This term, popularised by Airbnb’s Brian Chesky, refers to tasks that feel like work but don’t actually create value for the business. Dean explained in her post that employees are drowning in endless meetings and messages, which detract from productivity. She argued that instead of mandating office attendance, companies like Amazon should focus on “pioneering new, more efficient modes of work.” This argument has resonated with many on X as well, where employees have expressed frustration over the return-to-office mandates being viewed as a quick fix. One Twitter/X user remarked that "commuting to do the same virtual meetings in person isn’t solving anything," while others echoed that the core problem lies in work structures, not location. Here are some other reactions on X: <div type="image" title="negative reactions" msid="113528739" hostid="261" sizebytes="64721"></div> <h2>A quiet layoff strategy? </h2> Yet another take on the RTO mandate comes from Jennifer DeLorenzo, a former senior recruiter at Pinterest. She suggested that the move feels like a “quiet layoff strategy.” According to her, by mandating full-time office attendance, companies may be hoping for a wave of resignations without having to deal with the negative press of formal layoffs. “This tactic allows them to reduce headcount while avoiding the negative optics of layoffs,” DeLorenzo wrote on LinkedIn, adding that it may backfire as hiring becomes challenging again when the economy shifts. Many others seemed to agree with her view. On Reddit too, there are many people talking about how companies might be carrying out soft layoffs by implementing an RTO mandate. Her comments tapped into a broader conversation on how companies may be using return-to-office mandates to indirectly reduce their workforce. Other social media users pointed out similar trends across industries, where companies tighten office attendance policies to nudge employees toward leaving voluntarily. <h2>Some mixed reactions too </h2> While the return-to-office mandates are frustrating for many, not all reactions are negative. Some employees, particularly newer hires, see value in the traditional office setting. Bhardwaj, for example, also noted that going to the office is beneficial for freshers who want to learn. “I do believe that going to the office makes you learn a lot as freshers,” he wrote in his post, suggesting that for those early in their careers, the in-person experience might be crucial for growth and networking. Some users on X too seemed to be in support of this mandate. Here’s a look: <div type="image" title="mixed-reactions" msid="113528718" hostid="261" sizebytes="77770"></div> This duality reflects the ongoing debate around the future of work. On one hand, companies like Amazon, Google, and Meta are focusing on building stronger in-office teams, believing that physical presence fosters better collaboration, innovation, and mentoring. On the other hand, employees, especially those who experienced the benefits of remote work during the pandemic, are pushing back against these mandates, valuing the flexibility and improved work-life balance that working from home provides. As companies continue to adjust their RTO policies, the tension between employee expectations and corporate strategies is likely to persist. However, one thing is clear — the future of work is still being negotiated, and both sides are making their voices heard across the internet.

'I'm unproductive, this is not the real solution': Internet reacts as Amazon, Wipro and others call employees back to office

<ul class="summary-list"><li>Once a laggard, <a target="_blank" href="https://www.businessinsider.com/toyota-camry-america-best-selling-car-hybrid-only-2023-11">Toyota</a> is now well-positioned to meet a new EV market.</li><li>Toyota's hybrid-heavy approach is actually going well.</li></ul>Toyota, the originator of the hybrid-car craze in the early 2000s, is poised to reclaim its crown as the king of green cars.As demand for battery-electric vehicles cools and more <a target="_blank" href="https://www.businessinsider.com/car-buyer-interest-hybrids-as-electric-vehicle-adoption-slowing-2023-10">shoppers look toward hybrids</a>, the Prius-maker is among the most well-suited to meet the current moment in the transition to electric cars.After years of being labeled an EV laggard among its peers in the industry, customers don't appear to care that Toyota has so far released only one pretty unpopular electric car in the US (you know, the one with the <a target="_blank" href="https://www.businessinsider.com/toyota-recalls-2700-electric-suv-because-wheels-may-come-off-2022-6">wheels that literally fell off</a>).The Japanese automaker actually tops the list of brands most considered by EV shoppers in a recent survey — beating out <a target="_blank" href="https://www.businessinsider.com/ev-demand-still-strong-despite-slowdown-hybrids-survey-2024-1">Ford and Elon Musk's Tesla</a>. It would appear Toyota's more hybrid-heavy approach to electric cars is alluring for the new breed of electric-car shopper, more frugal and practical than the early adopters that came before them."Toyota has been talking more about this bridge between where we're at on the transition from internal combustion to fully electric," Jeremy Korst, president of GBK, a consulting firm that did the survey, told Business Insider. "Other manufacturers — until as of late, of course — have made pretty strong positions on EVs only."Korst said the latter position wasn't resonating well with customers.Toyota's chairman, <a target="_blank" href="https://www.businessinsider.com/toyota-electric-cars-ceo-hybrids-plug-in-silent-majority-resistance-2022-12">Akio Toyoda</a>, has long been a skeptic of the industry's all-in attitude on battery-powered vehicles, preaching instead the importance of Toyota's "multipathway approach," in which the automaker is researching and developing a variety of alternatives to the internal-combustion engine.Toyoda has pushed back on proclamations that EVs will one day become the dominant powertrain. Most recently, <a target="_blank" href="https://toyotatimes.jp/toyota_news/1055_1.html#anchorTitles">he predicted</a> in January that "no matter how much progress BEVs make," these cars would still eventually account for only 30% of global market share at most.<h2>Detroit may owe Toyota an apology</h2>Toyota's competition — particularly in Detroit — has plowed <a target="_blank" href="https://www.businessinsider.com/electric-vehicle-revolution-hits-delays-production-sales-tesla-china-2023-4">billions of dollars into new electric lineups</a> and promised an all-electric future is just around the corner. This, paired with the success of Tesla and overall investor enthusiasm for EV technology, left Toyota looking like a laggard.Despite years of criticism, it appears Toyota may have had the right idea after all.<a target="_blank" href="https://www.nytimes.com/2024/01/17/business/hybrid-cars-electric-vehicles.html">Hybrid sales rose</a> much more quickly than EV sales last year, up 65% to more than 1.2 million, according to Cox Automotive. While Americans bought the same number of purely battery-powered EVs, that segment's growth was just 46% year-over-year.Shoppers in the market for a hybrid are also much more likely to pony up <a target="_blank" href="https://www.businessinsider.com/car-buyer-interest-hybrids-as-electric-vehicle-adoption-slowing-2023-10">more cash for these cars</a>.That leaves Toyota in a winning position right now. The Japanese car company has been adding hybrid versions of its most popular models to its lineup for the last several years, including hybrid versions of its highly profitable SUVs. The <a target="_blank" href="https://www.businessinsider.com/toyota-camry-america-best-selling-car-hybrid-only-2023-11">Camry</a>, America's best-selling car for the past 20 years, is set to be hybrid-only by next year.Companies such as Ford and General Motors had been relying on high-priced, luxury EVs to carry them to profitability in that segment. That strategy is harder to pull off in the current EV market, forcing these companies to <a target="_blank" href="https://www.businessinsider.com/automakers-back-to-the-drawing-board-ev-plans-2024-2">rethink their longer-term EV goals</a>.In a move that vindicated Toyota's commitment to hybrids, <a target="_blank" href="https://www.businessinsider.com/gm-hybrids-plan-good-for-car-dealers-and-shopper-2024-1">GM recently went back on its plans</a> to skip hybrids in North America, with CEO Mary Barra telling investors the company was bringing some hybrid options to the region this year. (Ford already sells an array of hybrids in the US, including the popular <a target="_blank" href="https://www.businessinsider.com/2021-ford-f-150-hybrid-powerboost-gas-mileage-efficiency-epa-2020-12">F-150 hybrid</a>)Toyota has spent the past several years <a target="_blank" href="https://www.businessinsider.com/toyota-camry-america-best-selling-car-hybrid-only-2023-11">releasing more hybrids</a> and plug-in hybrids while refusing to give up on the nascent hydrogen-fuel-cell technology that many of its competitors have largely abandoned.It appears this long game on EVs is working for customers right now.

Toyota was right about hybrid cars all along

<ul class="summary-list"><li>The automotive journalist Jules Rogers test-drove the XSE model of the 2024 Toyota RAV4 Hybrid SUV.</li><li>The SUV offers fuel efficiency and a smooth ride, and the XSE model has premium features.</li></ul>The 2024 Toyota RAV4 Hybrid SUV is fun to drive and has luxurious interior features. Highlights include its fuel efficiency, smooth ride, and quick acceleration, along with its heated seats, moonroof, and 18-inch sport alloy wheels.The RAV4 Hybrid XSE all-wheel-drive SUV has extensive safety features, such as automatic high beams, lane-tracing assist, and pedestrian detection, that come with the Toyota Safety Sense package.As an automotive journalist, I test-drive new vehicles all the time. The standard RAV4 Hybrid model starts at $31,475, but I drove the XSE model, which comes with the XSE technology package and costs $42,909.I liked it, but the 2024 model isn't significantly better than the 2023 model, so it could be worth it for budget-friendly drivers to consider an older model.<h2 id="b1d2669b-a1e5-4383-b48a-a9347963cf8a">The XSE model is for a driver who prioritizes premium features</h2>The XSE technology package includes front and rear parking assist with automatic braking; a smart keys system; wireless smartphone charging; an eight-way power driver's seat with memory function; and a 12.3-inch color gauge cluster control system.The XSE also has a sport-tuned suspension and bigger tech on the dash. The base model is just fine for those who want a hybrid at a reasonably modest price point.You can also choose the XSE weather package, which features a heated leather-trimmed steering wheel and rain-sensing variable intermittent windshield wipers with a deicer function. This package is great for drivers who live in harsher climates.The model I drove was equipped with all-weather floor liners, which help drivers keep the car spotless — especially if they're driving on dirt roads or mudding on their day off.<h2 id="7f645224-f465-4675-a170-80727e7de6d5">Both the interior and the exterior are appealing</h2><div type="image" title="the interior of the 2024 Toyota RAV4 Hybrid SUV" height="3024" width="4032" msid="111429757" hostid="261"></div>On the outside, this Toyota is cute and compact. The one I drove was finished in cavalier blue with multispoke black rims.Inside, the SUV has vegan leather with nice stitching throughout. This trim specifically featured blue embroidery thread on the seating, a high-end detail that made the interior feel posh. I loved the blue stitching. Toyota doesn't skimp on interior materials, so it feels like a modern, well-made SUV.There are a lot of thoughtful details in the dash and inside the car, including the JBL infotainment system, which creates the perfect mood while driving. Heated front seats make this hybrid SUV extra comfortable. Even the back seats feature air vents with the dual-zone system setup.I loved the panoramic moonroof upgrade, which gave the interior a great ambiance for the driver and passengers. This vehicle has many gadgets for the driver, including an audio multimedia system with six speakers, <a target="_blank" href="https://www.businessinsider.com/apple-carplay">Apple CarPlay</a>, and Android Auto.<h2 id="01196acc-12fe-459e-bedc-cff103da99af">The safety features are useful</h2>The Toyota Safety Sense features are designed to ensure this SUV's safety. These include pre-collision and pedestrian detection; radar cruise control; steering and lane-tracing assist; automatic high beams; an anti-theft system with an alarm; a backup camera; blind-spot monitoring; rear cross-traffic alerts; and more. This vehicle also has a five-star government safety rating.During inclement weather, the bird's-eye-view feature allowed me to toggle a switch on my rearview mirror to turn it into a screen showing a real-time rear-camera view. I'd definitely use this during the rainy months, when the weather can limit vision. The rearview mirror also features auto-dimming, so the lights from the car behind you can't blind you.<h2 id="02ddce8f-e9e8-464f-b041-4f874beb8d28">There's no lack of power</h2>The RAV4 Hybrid is comparable to the <a target="_blank" href="https://www.businessinsider.com/toyota-rav4-hybrid-prime-plug-in-review-xse-2022-7">RAV4 Prime</a> and a competitor, the Kia Sportage Hybrid, which has a redesign for 2024 and was named U.S. News and World Report's best hybrid SUV for the money in 2023.The RAV4 Hybrid has 219 total horsepower and runs on a 2.5-liter four-cylinder engine with electronic variable transmission and electronic on-demand all-wheel drive. This power is suitable for this size of SUV.The vehicle's hybrid mode combined with the engine gives a decent score of 41 mpg in the city and 38 mpg on the highway. On eco mode, it gets quiet and automatically turns off the engine when you stop, kicking back on when you exceed a certain speed limit.This vehicle feels nimble and responsive, and the torque feels instinctive. When you hit the gas the car powers forward — there's no lag. You wouldn't know you're driving an SUV because of its responsiveness, quick horsepower, and four-wheel drive. It offers a smooth ride, nice acceleration and handling, and a sport mode for off-roading enthusiasts.<h2 id="bcb60963-2b85-4136-bed4-7e3092f67b1c">I enjoyed how easy it was to drive</h2>This Toyota SUV is a great vehicle for all types of driving, whether in the city or outside it.Overall, I found it easy on the eyes — an exciting compact SUV that I enjoyed driving. There's no uncomfortable seat in this vehicle, even in the back, so when you're ready for a long vacation with your family, this is the perfect hybrid SUV to do it in.When I'm next in the market for a hybrid crossover SUV, I'll consider the Toyota RAV4 Hybrid XSE — but I wish it didn't cost as much as it does, especially considering how many other options are on the market for $40,000 or less.

I drove the 2024 Toyota RAV4 Hybrid XSE. It's fun to drive and has luxurious features, but it's not worth buying new.

German auto maker <keyword id="19911529" type="General" weightage="20" keywordseo="audi" source="keywords">Audi</keyword> is bullish on <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> but believes that till the time high taxes rationalise to a lower level, penetration of luxury cars in the country will continue to remain low compared to South East Asian countries, according to a senior company official. Audi expects growth of the luxury car market in India to moderate to low double digits in 2024 compared to around 25 per cent in 2023. "The overall car industry is growing, as well as the luxury segment is growing. Last year was one of the biggest numbers that the industry could achieve, which is also in line with the overall growth of the country," Audi India Head Balbir Singh <keyword id="20078415" type="General" weightage="20" keywordseo="dhillon" source="keywords">Dhillon</keyword> told PTI. He further said, "(India's) GDP is growing, all the parameters that you see for the growth of automotive industry is showing an upward direction. So we believe we are in the right space at a good time and it's time for India and we will continue to grow as well." Dhillon was responding to a query on how Audi is looking at India as a market for its overall growth strategy from a global perspective. On the potential of the Indian market, Dhillon said, "If I compare the Indian luxury (car) space, I would still say we are in the nascent stage. "We (industry) sold about 48,500 cars last year, which is just a little over 1 per cent of the overall car industry. So we still are very small in terms of the percentage and the Southeast Asian market." In many countries in that region the penetration of luxury cars to the overall car market is in the range of five to six per cent and in some markets as high as 20 per cent, he said. "So I think we have still a lot of area to cover," he said, adding, a rationalisation of taxes to lower level will help fuel the growth of luxury car market in India further. "We do see this trend that overall, in some point in time, the taxation structures will get rationalised (and) the industry will also grow much faster," he said. As of now, the overall tax rate (GST plus cess) on most of luxury cars are about 50 per cent, he added. "I'm sure at some point in time it will rationalise that will give us a kick-start for a very fast growth, till that it will continue to grow maybe at a lower space," he said. When asked about the outlook for the year, Dhillon said, "(Audi India) grew by almost 90 per cent last year and the industry grew by about 27 per cent. "So, we do see the industry growing also in 2024, but may not, may not be to the extent of 25-26 per cent but low double digit and we also see ourselves growing in the same range in 2024 as well." Last Audi India sold 7,931 units in 2023 as against 4,187 units in 2022. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-flat-in-2023-after-q4-boost-apple-crosses-10-million-mark/articleshow/107419298.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-flat-in-2023-after-q4-boost-apple-crosses-10-million-mark/articleshow/107419298.cms" target="_blank">Indian smartphone market flat in 2023 after Q4 boost; Apple crosses 10 million mark</a><a href="https://www.businessinsider.in/business/auto/news/ola-electric-continues-to-lead-the-segment-in-electric-scooters-in-january-2024/articleshow/107424791.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-continues-to-lead-the-segment-in-electric-scooters-in-january-2024/articleshow/107424791.cms" target="_blank">Electric scooter sales grow 26% in January as Bajaj, Ather jostle behind TVS and Ola</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-february-2024/slidelist/107220575.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-february-2024/slidelist/107220575.cms" target="_blank">Samsung to Nothing – The upcoming smartphones hitting Indian market in February</a>

You Searched For "luxury hybrid cars in india" and got 11 results

Mercedes expands BEV range; rolls out second locally produced model in India

PTI

India has potential to be in Maserati's top 10 global markets in mid term: Co-official

PTI

Luxury carmakers Mercedes, Audi, BMW expect robust sales this festive season

PTI

India to shift to 'smartphone era' for cars embracing 5G, advanced AI in 2025: Report

PTI

Simply Put: From Dal to Dolce—India is loving its luxury life

Ira Alok Puranik

Luxury European automakers are getting crushed in China

Tom Carter

Gadkari vows to eliminate petrol, diesel vehicles in India, bats for lower tax for hybrid cars

PTI

'I'm unproductive, this is not the real solution': Internet reacts as Amazon, Wipro and others call employees back to office

Divyanshi Sharma

Toyota was right about hybrid cars all along

Nora Naughton

I drove the 2024 Toyota RAV4 Hybrid XSE. It's fun to drive and has luxurious features, but it's not worth buying new.

Jules Rogers

Bullish on India; luxury car penetration expected to remain low till tax rationalisation: Audi

PTI

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