Luxe EV sales in India on full charge, push up waiting period – EQ Mag
Luxury carmakers are seeing unprecedented demand for high-end electric vehicles (EVs), with the well-heeled snapping up fashions such because the Mercedes Benz EQS, BMW iX and Audi e-tron.
Mercedes Benz, Audi and BMW have all seen demand spike in this nascent section, resulting in a waiting period of up to 6 months for these fashions. Growing consciousness of environmental issues, supported by greater disposable revenue, is believed to be driving demand for EVs in the luxurious automotive section.
Mercedes Benz India, which on Friday launched electrical SUV EQB priced at ₹74.5 lakh (ex-showroom), mentioned it has obtained sturdy traction for it. In reality, the corporate expects electrical model EQB to account for greater than half the sales of SUV GLB, priced at ₹63.8-69.8 lakh. Mercedes Benz has a waiting period operating into three months for domestically assembled electrical sedan EQS 580, priced at ₹1.55 crore, and 4 to 5 months for AMG EQS53, which prices ₹2.45 crore.
BMW India offered out allotted batches of SUV iX, priced at ₹1.16 crore, and an all-electric Mini SE, priced at ₹50.90 lakh, at their launches earlier this 12 months.
Kia India’s EV6, which prices ₹59.95-64.95 lakh, obtained three and a half instances extra bookings than the unique 100 items allotted for the nation this 12 months.
Improving Consumer Perception
To make certain, the India quota, or allocations, of those fashions is kind of small. However, EVs are more likely to account for 1 / 4 of the luxurious automotive section in the following 5 years, pushed by new product introductions and rising shopper consciousness, Mercedes-Benz India managing director Martin Schwenk advised ET. He added that given the better-than-expected demand, Mercedes could have electrical automobiles in each section for the nation in a decade.
“Two years ago, we would not have expected the momentum we are witnessing in the market for EVs,” mentioned Schwenk. “Directionally, we want to have electric vehicles in every segment in our portfolio. Right now, we have seen that 50% of the traction for our latest SUV GLB comes for the electric version, EQB. Once customers see both GLB and EQB in showrooms, the share of electric will increase.”
Audi India head Balbir Singh Dhillon, too, mentioned the path of volumes and progress was very encouraging. “There is significant momentum, with consumer perception about the viability of electric vehicles improving,” he mentioned.
Going by the present traction, Audi expects EV sales to triple in this calendar 12 months, albeit on a low base. Dhillon mentioned the corporate expects 15% of its sales in India to be pushed by EVs by 2025-2026.
BMW India president Vikram Pawah is much more optimistic and feels 10% of the corporate’s sales will come from electrical automobiles by the tip of the following calendar 12 months. EVs represent solely about 1.4% of whole passenger automobile sales in the nation, and fewer than 2% of BMW’s present sales, in accordance with business estimates.
Schwenk mentioned the expansion potential in the section is critical if the coverage and tax construction on electrical automobiles stays secure. India levies GST of 5% on EVs.
To faucet into the chance, Mercedes-Benz has commenced native meeting of EQS. The firm plans so as to add extra native merchandise to its EV portfolio. BMW and Audi have additionally mentioned they’re inspecting the feasibility of assembling electrical automobiles in India. Local manufacturing will assist decrease costs and pace adoption of electrical automobiles, mentioned business executives.
Source: PTI
