India’s young millionaires fuel luxury car boom for Lamborghini, Mercedes-Maybach

India’s booming population of young, wealthy buyers is reshaping the country’s luxury car market. And brands like Lamborghini and Mercedes-Maybach are racing to meet the demand.

The Italian supercar icon, Lamborghini, is planning a potential fourth showroom in India following its record-breaking sales in 2024. Meanwhile, German luxury marque Mercedes-Maybach has seen a staggering 145% sales increase, selling 500 ultra-luxury cars in the country last year alone.

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This surge in demand is largely driven by a new generation of entrepreneurs and wealthy heirs under 40. They’re spending big on high-end cars, watches, homes, and fashion—with less guilt than the previous generation.

India emerges as a key market for supercar giants

Lamborghini sold 113 cars in India in 2024 (a 10% jump from the previous year) thanks to its growing popularity among tech founders and affluent young businesspeople. Half of those sales were for its hybrid Urus SUV, priced at nearly $500,000 before taxes.

Company CEO Stephan Winkelmann highlighted India’s unique demographic edge: “India is our youngest market after China, with most buyers under 40. That’s extraordinary.”

This momentum has Lamborghini eyeing a fourth dealership in the country. “India is an asset for us. The potential here is enormous,” Winkelmann said at a virtual roundtable.

Mercedes-Maybach sets its sights on India’s top 5 market spot

Mercedes-Maybach’s head, Daniel Lescow, echoed this sentiment. With 500 units sold in 2024, he believes India could soon rank among their top five global markets. That’s significant for a country where the average car costs just $15,000.

“I’m convinced there’s so much more potential here,” said Lescow. “India is already in our top 10 markets. The luxury mindset is evolving fast.”

Despite luxury cars making up just over 1% of India’s 4 million annual car sales, the super-luxury segment is accelerating.