Photo: International Brand Equity
Indian Luxury Car Market to Witness Massive Slump in 2020
The Indian luxury car market is expected to witness about a 40% decline in sales which would be the steepest record. As the COVID-19 pandemic has hit the country hard, many middle-class families are choosing entry-level car models over luxury vehicles. This has adversely impacted the automobile market. With sales dropping to 50-55% from 2019, manufacturers are hoping for relief in the festive season.
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