From Delhi's BMW crash to Pune's Porsche, India's booming luxury car market hides a disturbing trend

According to a January report by GlobeNewswire, India’s used luxury car market is projected to grow by 16.3 per cent annually until 2032. This is nearly double the growth rate of new luxury car sales. Pre-owned BMW X3s and Audi Q5s are now fixtures not just in Mumbai, but in smaller cities like Indore and Lucknow.

"The new luxury car market has reached a significant milestone, selling over 50,000 units in 2024," Siddharth Agrawal of OLX India told India Today. He attributed this to a growing affluent consumer base in urban centres, noting that ownership remains "very much a status symbol."

Easy finance and changing aspirations



The surge is fuelled by better access to financing, increased transparency and organised programmes from manufacturers and specialised startups. The typical buyer is now a financially literate, image-conscious individual aged 30-50.

For a new generation, the choice is often a used Audi over a new mid-range car. It is seen as a smart financial move, not a compromise. As News18 reports, Tier 1 cities still lead due to better infrastructure and service networks. But Tier 2 cities are catching up rapidly.

A deadly consequence on public roads



This proliferation of high-performance vehicles has been accompanied by a grim rise in fatal incidents involving reckless driving.

In a shocking case from Pune in May last year, a Porsche allegedly driven by an intoxicated 17-year-old killed two IT professionals. Police filed an extensive chargesheet against the teenager and his parents.

Just last month, two tech employees from Hyderabad died in a crash reportedly caused by drunk and negligent driving. In a separate Delhi incident in March, a two-year-old child was killed by a car driven by a 15-year-old.

These episodes paint a disturbing pattern of speed, recklessness and at times, a blatant disregard for the law.