Hyderabad: The luxury car space is inching back to the pre-Covid levels. However, the super-luxury space (cars priced above Rs 1.5 crore) is yet to catch up.
“Our company has surpassed last year’s numbers and for August and September months, sales were more than what we had witnessed last year. Interestingly, in the luxury car space, we are seeing an uptrend in sales in the Rs 50 lakh to Rs 1.5 crore category even as super luxury cars like Ferraris and Lamborghinis saw a slowdown,” said Jatin Ahuja, founder, and managing director, Big Boy Toyz.
According to him one of the reasons for the slowdown in super-luxury car sales was due to budget constraints and also uncertainty about the future which led consumers to down-trade their spending.
The pre-owned luxury car business is seeing an uptake, driven by digitization. Not just metro cities, even tier-2 and 3 cities are contributing a lot to the uptake post their digitization strategy, said Ahuja.
BBT is betting big on digital with almost 75 percent of its car sales happening online. The company has launched an app for consumers to book their cars even as it has revamped its website wherein consumers can compare luxury cars in 228 parameters.
The company has also launched a virtual reality-based showroom. “Our digital footprint is at about 1 lakh user per day and we wanted to tap this growing footprint by creating a virtual showroom, which is 70-75 percent of what our actual physical showrooms look like,” Ahuja said.