Report – Ultra-luxury cars fail to interest Indian billionaires

Karthik

Karthik H, A bit of a car freak and a bike nut, and a fan of trucks and technology too. Expect sharp stories that focus on those four fronts. As always, stay tuned to IndianAutosBlog.com for quick and unassuming updates from across the world.

Sales of ultra-luxury top-end vehicles is facing its worst time thanks to a weak Indian Rupee and high import duties.

A report on The Economic Times says that sales of models like the Koenigsegg Agera and Bugatti Veyron has stagnated and brands like Gumpert have exited India, citing no sales.

Bugatti Veyron Grand Sport Vitesse Rembrandt Bugatti front quarter
High import duties coupled with poor infrastructure is driving people away from buying these machines.

The report also says that experts in the field say that a steep import duty, coupled with poor infrastructure, are contributing factors to this slowdown. The lack of high-end service back up for these super expensive cars is also another reason, says the report.

Sales of super-luxury brands like Rolls Royce and Bentley are still doing reasonably well, says the report, adding that many sports cars haven’t exactly lit up the sales charts. Even in sports cars, more affordable brands like Lamborghini and Ferrari are doing much better than brands like Koenigsegg and Bugatti.

Koenigsegg Agera S Hundra side
Even supercars like the Koenigsegg Agera hasn’t found buyers in India.

Over the years, the report says, the value of the Indian Rupee has been going down steadily, with a crash in last August. Import duties have also gone up recently, from 60 percent to 100 percent, almost doubling the cost of these already expensive cars.

[Source – The Economic Times]

Contribute to IAB
Submit Spyshots & get Bragging rights! Click Here
Custom Mods on your ride? Get it featured on IAB Submit

Koenigsegg Agera News & Updates

Koenigsegg Agera Final One of 1 front quarter at 2016 Geneva Motor Show

Koenigsegg Agera Final One of 1 – 2016 Geneva Motor Show

Bugatti Veyron Grand Sport Vitesse La Finale front leaked

Bugatti Veyron Grand Sport Vitesse La Finale unveiled – IAB Report

2015 Bugatti Veyron Grand Sport Vitesse La Finale teaser

Final Bugatti Veyron has “La Finale” inscribed on its wing [Update]

New Ford Figo compact sedan rear three quarters spied India

Hyundai ix25, Mahindra P601, Ford Figo sedan, Koenigsegg Agera RS, Tata Kite, Suzuki concepts, Suzuki Hayabusa – IAB Retrospect

Koenigsegg Agera RS announcement

Koenigsegg Agera RS to debut at 2015 Geneva Motor Show – IAB Report

Bugatti Veyron Grand Sport Vitesse Black Bess front

Final Bugatti Veyron to be unveiled at the 2015 Geneva Motor Show – Report