To cash in on the growing demand from women drivers, luxury car brands are revising their marketing and design strategies to accommodate the ladies’ demands.
India’s luxury car market has witnessed a near ten-fold growth in the last decade, leaping to the 27th position from 48th, eleven years ago, in global ranking of luxury car sales. Despite several changes in the government policies — demonetisation, GST and hike in import duties — and an overall slowdown in the global automobile market, India is on track to reach new highs this year. Most luxury car manufacturers posted double-digit growth in the first quarter of 2018 (See left). One of the most significant growth drivers is the increased demand from women clients. The manufacturers see tremendous potential in this segment and are tweaking their marketing, sales and design strategies to tap into this emerging segment.
The percentage of women buyers of luxury cars in India is at an all-time high. They bought 14 of vehicles sold last year. This trend is in line with all the major markets across the world, witnessing stellar growth in this segment. However, the number in India is relatively smaller than that in Europe and the United States, currently at 25 and 41 respectively. This can be largely contributed to India’s dismal women-to men drivers’ ratio. According to the Road Transport Yearbook 2015-2016, only 11 women in India take the wheel. Another factor is the wide gender pay gap, currently at 67 , limiting women’s buying power.
This story is from the August 2018 edition of BlackBook — India's Luxury Insider.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the August 2018 edition of BlackBook — India's Luxury Insider.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
No Stone Unturned
BlackBook travels to Surat to explore the step by step journey of a Forevermark-approved diamond—and what the grading giant has planned for its india expansion
The Revival Of Retail
There is nothing quite like browsing through a physical store full of curiosities and beautiful things. Is that why we are seeing a resurgence of luxury boutiques?
Bringing Their A-game
Inside Mumbai’s snazzy co-working and leisure club, The A, a members-only space with a built-in prohibition-style speakeasy and a virtual reality zone
Will India Sail Through?
The long neglected coast of India has received a new lease of life from the Indian government which is developing its ports to attract cruise tourism to the country.
The Ultimate Address In Luxury
Stellar views and large living spaces are real estate gold when it comes to residential properties in a space-starved metropolis like Mumbai. Vivarea by K Raheja Corp, with its world-class amenities, offers the best of both.
The Design Doyenne
Gayatri Ruia has created a niche for herself in the world of luxury through her diverse pursuits in art, interiors and fashion.
The golden boy
Siddharth Kasliwal, who represents a vibrant new face of luxury, upholds his family legacy even as he forges ahead with his own vision of opulence.
Jaipur Hospitality's New Finesse
For decades, royal abodes have been Jaipur’s most esteemed getaways. Now, stylish havelis, impeccable boltholes and standout restaurants dot the landscape.
The Rajputana Thoroughbred
Motorcycle enthusiasts are racing to Jaipur for bespoke bikes with an Indian ethos.
Design Story
Good Earth tells tales of enchanted India, with a contemporary lens. BlackBook speaks to CEO Simran Lal about luxury, her inspiration and upcoming wellness offerings.
