Gandhinagar, Jan 27 (IANS): An automobile expo is being held offline in Ahmedabad in Gujarat for the first time in India following the Covid-19 pandemic. An Ahmedabad group will be organising the first offline luxury car expo, 'Auto de Glam', a two-day event, where cars like Aston Martin Vantage and Ferrari Portofino will be seen along with other top-of-the-line cars worth Rs 75 crores under one roof.
Expecting a good financial year in the coming fiscal, the automobile industry which has been hit hard by Covid-19 and the lockdown, has restarted production and is witnessing record sales again with the gradual relaxation of the lockdown. The industry was hammered badly in 2020, but the sector is now witnessing a gradual recovery in terms of consumer footfalls in showrooms and sales volume.
The gradual decrease in Covid-19 cases has seen a growing preference for personal mobility in order to observe the Covid guidelines. This has brought cheer to the automobile industry, which is expecting good sales this year.
Although, having only 1.2 % of the overall market share in the automobile sector in India, the luxury car market is expected to register CAGR of over 6% during 2020-2025 in India. Looking at this potential, an Ahmedabad based group is organising the first ever luxury car show in Ahmedabad.
The two-day 'Auto de Glam' will be held on January 30 and 31 where luxury car brands like Ferrari, Aston Martin, Porsche, Mercedes, Maserati, Range Rover, Volvo, BMW, Audi, Mini, Jaguar, and others will be on display.
"In this first offline auto event in the country after Covid-19, we are expecting to have good response from the potential car buyers, where they will have a chance to talk to the company's executives. As this event is purely registration based, it will ensure that all the necessary Covid protocols, guidelines and precautions are followed," said Durgesh Agarwal from the DA group, one of the organizers of the event.
"This is the first such Expo for luxury car brands in the country. We plan to make it an annual event and add more products every year. This year we are having 11 luxury car manufacturers participating. Next year, we will be adding 4 to 5 more company products," said Saurin Basu, from Aver Media, another organiser.
"Our purpose for the event is to bring positivity in the economy by showcasing the aspirational brands and also support the automobile industry to recover at a faster pace," added Basu.
"We are expecting around 1000 visitors during this two-day event," said Basu.
As per industry estimates, 34,500 to 35,500 luxury cars were sold in the country in 2019, compared to 40,340 units sold in 2018.
Compared with 13% in China and 10% in the US, the share of luxury vehicles in India accounts for less than 1.2% of the overall automobile market. India has more than 350,000 millionaires, but the market size is yet to cross 50,000 units a year.