With the Indian auto industry achieving a good 10 percent growth in FY2023-24 (the two-wheeler, three-wheeler, passenger vehicle, tractor and CV segments grew at nine percent, 49 percent, 8.45 percent, eight percent and five percent respectively), the luxury passenger vehicle segment consisting of luxury cars and SUVs saw a significant shift in the demand for models and brands. 

If it would mirror the luxury automotive purchasing trends evident globally may be early to say but the market for luxury brands – BMW, Mercedes-Benz and Audi primarily – witnessed a good number of first-time and affluent buyers in FY2023-24. With the sale of luxury automobiles expected to bridge the 100,000 units level by 2030, a distinct trend in terms of who would purchase which brand seems to get clearer in the 2023-24 financial year with the young, first-time buyers seeking luxury cars like the Audi A4. 

With the risk appetite for luxury automobiles growing, an uptick in the demand for luxury automobiles as a second set of wheels in the house for long-distance driving or weekend drives seems to be growing. The coming up some good independent workshops for such automobiles is also proving to be a key supporting factor for pre-worshipped luxury passenger autos.

Interestingly, the 2023 calendar year saw record breaking sales of luxury automobiles in India. The demand for electric luxury auto recorded a big jump at almost each of the three German automakers. While electric luxury passenger vehicles – cars and SUVs – are putting the spotlight on technology (which translates into performance, range and efficiency) and comfort, a trend is seen in luxury vehicles to go petrol. 

Toyota Kirloskar Motor, one of the leading passenger vehicle manufacturers, has attained a new wholesales milestone for its Innoa HyCross SUV.

Launched in November 2022, the Innova HyCross has crossed 100,000 unit sales milestone in India. The Innova HyCross is powered by the 5^th Generation self-charging strong hybrid electric system and comes with a 2.0-litre 4-cylinder petrol engine and an e-drive sequential shift delivering 137 kW (186 PS) of power.

The hybrid system the company claims enables the Innova HyCross to operate 60 percent of the time in electric (EV) mode. The 2.0-litre petrol engine paired with a direct shift CVT in select variants, delivers 129 kW (174 PS) of power.

Sabari Manohar, Vice-President, Sales-Service-Used Car Business, Toyota Kirloskar Motor, said, “We are thrilled to share that the Innova HyCross has achieved milestone of 100,000 units. Heartfelt thanks to our customers for their trust and support as we continue to drive unparalleled mobility experiences. The hybrid technology option in the Innova HyCross continues to impress customers with its exceptional performance and remarkable mileage. Beyond efficiency, the HyCross strikes an ideal balance of space and luxury, making it a practical choice tailored to a family’s diverse needs. Its superior handling, unparalleled comfort, and top-notch safety features further amplify its appeal. Combined with Toyota’s trusted service standards, the Innova HyCross delivers a holistic ownership experience that resonates deeply with its growing base of satisfied customers.”

AstaGuru will showcase some of the world’s most coveted vintage and classic cars at its upcoming ‘Classics of Motoring’ auction, which will take place from 20 to 22 November 2024.

The auction will offer an exclusive collection of rare and meticulously curated vintage cars, providing a unique opportunity for collectors and automotive enthusiasts to acquire iconic pieces of automotive history.

The auction will feature an impressive lineup of vehicles, including a 1934 Rolls-Royce 20/25 Limousine, a 1946 Singer Nine Roadster, a 1946 Bentley Mark VI, a 1947 Lincoln Continental V12 Convertible and a 1948 Jaguar Mark IV, among others. These stunning machines, each a testament to the engineering marvels of their era, promise to transport bidders back in time, celebrating the golden age of motoring.

A Growing Market in India

AstaGuru’s Vintage and Classic Car Specialist, Muzammil Kazi, shared his insights on the evolution of the vintage car market in India. “We did our first auction in 2018, and it was a surprising success,” Kazi noted. “At the time, these cars weren’t available online or marketed in the way they are now. You’d have to go to a dealer or connect with a seller directly, which made it hard to find these rare cars. But our first auction was a hit, with all lots selling successfully.”

The vintage car market in India, according to Kazi, is far from saturated. “The market is 100 percent growing. These cars were imported to India in limited quantities, and you wouldn’t find brands like Ford or General Motors here in the same way as abroad. Cars like the Fiat, Ambassador, or old Maruti SS80 were more common, but the rare vintage gems we are showcasing today are difficult to find.”

Kazi also emphasised that the scarcity of such cars means the market still has significant potential for growth. “The cars we have on display today are curated from various collectors across India, and it’s very rare to see them come together in one auction,” he explained.

Safeguarding Online Bidders

AstaGuru’s online auction platform also ensures that bidders are fully protected throughout the process. “We have a strong set of terms and conditions for the cars we sell,” Kazi explained. “We only auction cars with up-to-date paperwork and in proper running condition. Once a car is sold, we ensure the buyer receives it only after the seller submits a No Objection Certificate (NOC), making the transaction smooth and secure.”

Record-Breaking Bids

The auction has seen some impressive bids in the past. Kazi highlighted one of the highest bids to date: a Mercedes-Benz 111 230S, which was estimated at INR 2.1 million but eventually sold for INR 6.8 million. Another standout was a Rolls-Royce, which had an estimated value of INR 7-8 million but sold for a remarkable INR 18 million.

A Rare Opportunity for Collectors

For classic car enthusiasts and connoisseurs, the ‘Classics of Motoring’ auction represents an unmissable opportunity to acquire some of the rarest and most beautifully restored vehicles in the world. With its rich history and pedigree, each car in the auction is a testament to the artistry and engineering excellence that defined its era. Whether a seasoned collector or a newcomer to the world of vintage automobiles, this event promises a truly memorable experience for all involved.

As the vintage car market continues to grow in India, AstaGuru is setting the stage for an exciting future for collectors and car lovers alike. The ‘Classics of Motoring’ auction is expected to draw attention from around the world, offering a rare chance to own a piece of automotive history.

Tata Motors-owned British luxury car brand Jaguar has unveiled its new brand identity, which it says recaptures an ethos to Copy Nothing that traces its roots back to the words of its founder, Sir William Lyons. 

The new identify is based on Exuberant Modernism, a creative philosophy, which the company says underpins all aspects of the new Jaguar brand world. 

Professor Gerry McGovern OBE, Chief Creative Officer, Jaguar, said, “Jaguar has its roots in originality. Sir William Lyons, our founder, believed that ‘A Jaguar should be a copy of nothing’. Our vision for Jaguar today is informed by this philosophy.  New Jaguar is a brand built around Exuberant Modernism. It is imaginative, bold and artistic at every touchpoint. It is unique and fearless. This is a reimagining that recaptures the essence of Jaguar, returning it to the values that once made it so loved, but making it relevant for a contemporary audience. We are creating Jaguar for the future, restoring its status as a brand that enriches the lives of our clients and the Jaguar community.”

The four symbols of change – Device Mark, Strikethrough, Exuberant Colours and Makers Marks - each representing the future design philosophy for the luxury carmaker.

Device Mark celebrates modernism through the geometric form, symmetry and simplicity.

Strikethrough sees the linear graphic generate a unique presence and an immediately recognisable visual for Jaguar.

The Exuberant use of colours marks a cornerstone of Jaguar’s new brand identity.

Makers Mark consists of the newly reimagined Jaguar ‘leaper’, which the luxury brand said is part of its mark of provenance. 

On 2 December 2024, Jaguar will present its first global public installation under its new brand philosophy at the Miami Art Week.

Rawdon Glover, Managing Director, Jaguar, said, “To bring back such a globally renowned brand we had to be fearless. Jaguar was always at its best when challenging convention. That ethos is seen in our new brand identity today and will be further revealed over the coming months. This is a complete reset. Jaguar is transformed to reclaim its originality and inspire a new generation. I am excited for the world to finally see Jaguar.”

Nissan Motor India, one of the leading passenger vehicles manufacturers, has started exporting the new Nissan Magnite SUV to South Africa, which is part of the company’s bigger export plans from the country.

Since the launch of the refreshed SUV in October 2024, Nissan has exported over 2,700 units of the Magnite to global customers. Till date, the SUV has gone home to over 150,000 customers globally since it was launched in December 2020.

Nissan is also looking to expand its total export footprint to more than 65 international markets now including Left-Hand Drive (LHD) markets.

Frank Torres, Divisional Vice-President - AMIEO Region Business Transformation & President, Nissan India Operations, said, “Ever since the Nissan Magnite’s launch in 2020, we have seen a resounding acceptance and demand from customers in the South African market for the Made-in-India compact SUV. Our focus on the domestic and export market both are crucial parts of our strategy to deliver outcomes in line with ‘The Arc and India remains a key part of the growth strategy for the company. The export of the new Nissan Magnite will further enhance India's position as an export hub and drive Nissan's growth in the AMIEO region, exemplifying Nissan India ‘One Car, One World’ philosophy.”

Jordi Vila, President, Nissan Africa, said, “We are delighted to receive the shipment of new Nissan Magnite SUVs from India and glad that they will be available for the local customers. With its bold aesthetics, enhanced safety and advanced tech features, catering to a wide range of preferences and customer needs, our customers in South Africa and other African markets are sure to like the new Nissan Magnite B-SUV.”