Audi India reports 89% sales growth in 2023
What's the story
Audi reported an 89% YoY growth in retail sales in India.
The German luxury car manufacturer sold 7,931 units in 2023 compared to 4,187 units in 2022.
This growth is attributed to recent launches like the Q3 Sportback, Q8 e-tron, and Q8 Sportback e-tron, alongside sustained interest in popular models such as the A4, A6, and Q5.
Premium models like Q7, Q8, A8 L, S5 Sportback, RS5 Sportback, RS Q8, e-tron GT, and RS e-tron GT also saw strong demand.
Details
Expanding retail footprint and customer loyalty
Balbir Singh Dhillon, Audi India Head, shared that the company's retail presence is growing, reaching 64 touch points by 2023-end, including showrooms and workshops, and 25 Audi Approved :plus showrooms across the country.
He also noted that one in four customers is a repeat Audi buyer.
Dhillon said, "This tells us that we are on the right path. We will continue to focus on industry-best offerings for our customers and of course, bringing the very best products to India."
What Next?
Growth in pre-owned car business and future plans
Audi Approved :plus, the brand's pre-owned car division, saw a 62% growth in 2023.
Dhillon revealed plans to expand and add more pre-owned car facilities this year. He also emphasized the company's focus on digitalization and network expansion in the coming year.
"We are confident that this momentum will carry into 2024," added Dhillon.
Insights
Potential supply chain disruptions due to Red Sea crisis
However, Dhillon cautioned that Audi may face supply chain disruptions in the March quarter due to the ongoing Red Sea crisis.
This could result in sales losses as ships carrying components to India are expected to take longer than usual.
Despite these potential challenges, Audi India remains dedicated to maintaining its strong performance, supported by new product launches and a robust product portfolio of 17 cars.