Audi India's FY24 sales surge 33% to over 7,000 cars
What's the story
Audi, a prominent luxury car manufacturer, has reported a significant 33% increase in retail sales in India for the fiscal year ending March 31, 2024.
The company sold a total of 7,027 units during this period, marking a substantial rise from the previous financial year's sales of 5,275 units.
Balbir Singh Dhillon, Audi India Head, attributed this robust growth to their diverse product portfolio and strong demand.
Market potential
Audi India optimistic despite supply chain disruptions
Despite record-breaking sales in 2023 and ongoing growth in the luxury market, Dhillon remains optimistic about the industry's potential to exceed 50,000 cars in 2024.
In the first quarter of this calendar year alone, Audi India sold 1,046 units domestically. However, these figures were impacted by supply chain disruptions during this period.
Pre-owned surge
Pre-owned car business witnesses significant growth
Despite a decrease in new car sales compared to the same period last year, Audi India's pre-owned car business vertical experienced significant growth.
The company reported a 50% increase in this sector for FY23-24 compared to the previous financial year.
The first quarter of this calendar year also saw a 25% growth in pre-owned car sales compared to the same period last year.
Expansion strategy
Audi India plans expansion of pre-owned retail facilities
As part of its ongoing expansion strategy, Audi India has revealed plans to add four more pre-owned retail facilities this year.
This move will increase the total number of 'Audi Approved: plus' facilities to 30 by the end of 2024.
The company's decision comes in response to the significant growth witnessed in its pre-owned car business vertical.