Indian Millennials Lead Global Trend in Luxury Sports Car Purchases
Indians are making waves in the luxury car market, with a growing number of young buyers opting for high-end sports cars like Lamborghini. Stephan Winkelmann, CEO of the Italian sports carmaker, revealed that India boasts some of the youngest buyers globally, with a significant portion under 40 years old, a trend not seen in developed economies.
Despite relatively low sales numbers in India compared to global figures â€" Lamborghini sold 103 cars in 2023 in India against 10,000 worldwide â€" Winkelmann sees immense potential in the country. He attributes this to the rising awareness of the brand among Indians, fueled by social media and global exposure.
Interestingly, Winkelmann highlighted a unique trend among Indian buyers who are not only purchasing cars within the country but also acquiring them for properties abroad in the UK, America, Dubai, and Southeast Asia.
Moreover, there has been a shift in consumer behaviour regarding sports cars. Winkelmann noted that people are now more willing to experience and own these vehicles, which wasn't the case previously. This change is evident in the increasing demand for personalized options, with Indian buyers being as discerning as their Western counterparts.
Lamborghini offers over 400 colours and a plethora of options for personalization, ensuring each car is a unique masterpiece.
Despite initial concerns about the impact of the COVID-19 pandemic on luxury car sales, Lamborghini has seen strong demand, which Winkelmann attributes partly to the "revenge buying" phenomenon post-COVID. However, he acknowledges a shift in the demographic of buyers, with more young people worldwide having the means and willingness to invest in luxury cars.
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