Is There Recession In India? Results

Who says there is a recession in India? All over, the newspapers and television channels report stories about how recession is affecting the lives of people world over and in India. But this recession seems to have been felt most by those in the lower and middle income groups. On the other hand, those who have the surplus money, even today, are ready to buy anything. The automobile sector is going through a tough time as its cars, whose market is usually the middle income group is not buying. But the luxury car makers are raking in the moolah like never before.

A report states that although the growth of mass-market and mid-size cars has fallen around 5 per cent, the sale growth of luxury cars, classified as cars available Rs.25 lakh onwards and the super luxury class (above Rs.1 crore) have not declined. Demand for luxury brands like Lamborghini, Bentley, Rolls Royce and Porsche have proved a sell-out in the Indian market. Rolls Royce has sold its full quota of 16 cars this year, Porsche will double its sales to 200 units and Lamborghini has already sold its quota of 11 cars for the year.

And encouraged by this, German luxury car maker Daimler, which owns the Mercedes badge, plans to launch six models from the AMG class in India before the end of this month, carrying a price tag of Rs.1.25- Rs.3 crore. This is the most expensive car in Daimler’s lineup and will be custom ordered and delivered directly from Germany. What also came as a shocker is that Germany’s Big three automakers Mercedes, BMW and Audi are all set to surpass last year’s sales to touch double-digit growth this year. Doesn’t this actually mean that recession has actually widened the gap, increased inequalities? And that is a more difficult situation to tackle.
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