Anywhere in the world, cruising around in a Cayenne a day after wholesale job/pay cuts or announcements of no bonuses might get one lynched. However, at home, the super-rich had no qualms swanning around in their Maybachs even as thousands of jobs were being axed. The luxury car segment continued to grow at around 20 per cent, faster than the far more affordable small car segment.
Now, with the downturn firmly behind us, is it any wonder that the biggest players in the business are driving into India to fight for a bigger share of the pie? According to a recent Capgemini-Merrill Lynch Wealth Report, about 1,000 Indians currently boast of at least $40 million in liquid assets, and the number of billionaires is expected to triple over the next decade.
The Society of Indian Automobile Manufacturers believes that the automobile industry, growing at 20 per cent year-on-year, will see domestic demand jump from the predicted 2 million units to 2.3 million units in 2010.
Despite the fact that luxury cars constitute only 3-4 per cent of total car sales, India is emerging as a key market. A look at the hottest vehicles lined up to enter the market clearly shows the enthusiasm of auto manufacturers to drive into India.
Porsche Panamera (Luxury) Rs 1.42 crore
What's hot
The four-seater Panamera Gran Turismo boasts a series of firsts like the automatic start/stop along with auto transmission and air suspension with additional air volume on demand.
What's not
It lacks a rear wiper. For a vehicle that claims to marry the emotional character of a sports car with the comfort of a saloon, it is too bulky.
Range Rover 2010 Model (SUV) Rs 98.5 lakh
What's hot
The new 510PS 5.0-litre supercharged LR-V8 petrol engine guarantees more power, a smooth drive, improves mileage by over 6 per cent and reduces carbon dioxide emissions by 7.4 per cent.
What's not
In terms of creature comforts, vehicles half its price offer a better deal. For instance, the voice recognition and back-up camera are weak.
Rolls Royce Ghost (Sedan) Rs 2.5 crore onwards
What's hot
The customised interiors. Think picnic tables, two 9.2 inch LCD screens in the back of the front seats and an audio system delivering 600 Watt of sound through 16 speakers, including two floor-mounted subwoofers.
What's not
It is a fuel-guzzler. In terms of mileage, expect 8 km per litre on the highway and just 5 km per litre while city driving.
Volkswagen New Beetle Rs 24 lakh
What's hot
The original people's car now favoured by icons like Woody Harrelson and Barbie continues to hold an edge in the small car segment because of its trademark retro look.
What's not
The engine quality leaves a lot to be desired, especially in this price bracket. Also, the rear seating is cramped and the luggage space is limited.
