India’s luxury car market has already zoomed past the magic 10,000-unit mark in the first nine months of 2010 and industry insiders think the momentum will carry on into next year as well.

“India’s luxury car market is expanding and it has grown by almost 63% in the first nine months,” Mercedes-Benz India sales and marketing chief Debashish Mitra told just-auto in Delhi last night after launching the automaker’s ‘Star Fascination Fest 2010’, a programme through which local showrooms take the ownership experience beyond the car at facilities that include gaming consoles, designer accessories, a high-end café and interactive virtual experience zones. Mercedes has recently grown sales almost 80% in its segment.

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The brand has also made a 4% gain in market share over last year. “Our share has further grown to 42% [of] the luxury car market,” Mitra said. Mercedes wholesaled 4,157 units and dealers retailed 4,221 units in the first nine months of 2010.

The growing luxury car market in India, Debashish said, “…has already crossed the 10,000 mark in the first nine months.” When asked to estimate the full year tally, he added it will “likely swell to around 13,000 units”.

Mitra said the Indian market is still “miniscule” compared to China but the growth rate is among the world’s fastest “…second only to China in this part of the world”. India would likely maintain double digit growth rate in 2011 as well and could well “not fall below 30 per cent in 2011”.

Mercedes Benz launched 17 new models here in the January-September period and Mitra promised more would follow next year.

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