High Taxes Hampers Luxury Automobile Industry In India: Audi

Indian luxury automobile industry has enormous development potential, but it is stifled due to high luxury car taxes and unfavorable regulatory environment. Luxury automobile sales account for less than 2% of total passenger vehicle sales each year, and market has been relatively stable over the last decade. Despite the fact the nation is home to many billionaires, Audi Director Region Overseas Alexander von Waldenburg-Dresel stated luxury automobile class remains "under-represented."