Buying a luxury car model can seem like a dream come true, but it might not be the best choice for someone who’ll have to think twice before giving an arm and a leg to buy a luxury car. That’s where second hand or pre-owned luxury cars come to the rescue. Sumit Garg, Co-Founder and Managing Director at Luxury Ride, a certified pre-owned luxury car aggregator that offers exclusive luxury cars at competitive prices, talks about what drives the luxury car market, their presence in India and also shares a few case studies related to their 15-day money-back guarantee. Read on…

What led you to starting Luxury Ride?
It all started with my passion for luxury cars since childhood. Following my passion, I entered the industry after completing my education. I soon realised that purchasing a luxury car involved a huge financial obligation. As the costs were high, many aspirational buyers found it difficult to own a luxury car. In this, the youth made up the bulk of the potential consumers, who were unable to buy a first-hand luxury car even after improving a lot on their disposable income and buying capacity. This motivated me to come up with Luxury Ride. It enabled the potential consumers to buy certified pre-owned luxury cars within their budget, and that too without compromising on the premium experience and performance of the car.

What are the current trends in the luxury car market?
Luxury cars are becoming a global trend. Moreover, in this, the rise of High-Net-Worth Individual (HNWI) and Ultra High-Net-Worth Individual (UHNWI) populations has proved to be a major factor in propelling the growth of the luxury car market. Going by the trend, the affluent consumer base seeks a premium experience, along with greater resilience. For this, they highly prefer SUVs that perfectly tick the requirement list of emerging consumers.

How do you deliver the best quality vehicles at competitive costs, keeping emissions in mind?
The cars in our inventory are 100 percent certified, and the vehicles go through a thorough inspection by qualified automobile engineers. They are then sold to customers with a manufacturer’s warranty. Our vehicles undergo 151 inspection checkpoints to ensure the quality of the car. The cars are backed up with a six-month engine and gearbox warranty.

Who are your end users usually? What do they most look for when selecting a luxury car?
Looking at the industry trends, millennials and the youth form the majority of our consumer base. They always aspire to upgrade their lifestyle. They are driven by the desire to own a luxury car that has the latest technology and gives a premium experience. First-time luxury car buyers also make up a substantial part of the consumer base that already has a low- or mid-budget car in possession. In fact, luxury is the first and foremost element buyers look for in the car. The latest technology, with user-friendly features making driving a comfortable experience, also tops the list when purchasing a car. Considering that the new-age buyers want to experience extravagance within their budget, they are in search of value for money.

Have you ever ended up paying back a customer under your 15-day money-back guarantee? Under what conditions is this protocol applied?
Yes, there have been a few incidents. For instance, one of our customers bought an Audi Q5 and later found some issues. In his opinion, it was not up to the mark, which made him anxious. He came back to us and requested us to pay the amount back. As is our policy, we returned each penny. The best part is that after a month, he came back to us and purchased an Audi Q7. Hence, having such policies develops your trust with the end consumer. Another instance was where a customer’s family had an objection to the colour of the vehicle due to their religious beliefs after the son had bought the car for them. The customer wished to return the car and for us to return the amount paid. We checked the car for any mishandling and took it back and returned the amount once we were sure of the car’s condition. However, we don’t have the money-back guarantee if a car has met with an accident after being purchased or if the customer has mishandled the vehicle. Otherwise, a 15-day money-back guarantee is available for all of our customers. We believe that nobody buys a car in order to return it. So by providing the 15-day money-back guarantee, we are giving our customers an assurance that the car is in good condition and that the customer will not face any hassle with the vehicle.

Do you see an increasing demand for luxury cars in India, especially keeping in mind that the luxury segment in India is quite small?
The demand for luxury cars has been rising gradually in India. Considering that people today try to attain a certain lifestyle, they are considering shifting towards luxury cars. There is a certain desire for branded cars where buyers are looking for new models, terrific designs and amazing technology in the same car. These evolving aspirations are responsible for driving the popularity of this segment.

We are also seeing a V-shaped recovery in luxury cars. Why do you think that is?
The V-shaped recovery is due to a combination of factors, from changing consumer behaviour to rising affluent young consumers, local production and more. I believe the demand for luxury cars will only get stronger in the years to come.

How much emphasis do you put on safety in your luxury cars? What are the features?
The pre-owned luxury cars offered by us are integrated with advanced technology to leverage the safety requirements of the customers. Luxury cars nowadays come with smart safety features like rear parking sensors, lane departure warnings, traffic sign recognition and autonomous emergency braking. There are also GPS tracking systems, car alarms, electronic immobilisers, mechanical mobilisers and kill switches in order to avoid any instances of theft.

Like brand new luxury cars, used luxury cars, which cost half of the original price, are also very popular among buyers. Can you throw light on how this affects business for a company like Luxury Ride?
The pre-owned luxury car market has its own set of customers who have value for money, but at the same time, yearn for a premium experience. They want luxury but without disturbing their financial stability. Therefore, the pre-owned luxury car market caters to a different set of consumers who will be driving the demand for the segment.

Would you consider venturing into exotic cars?
Right now, our entire focus is on the pre-owned luxury car segment, where we want to create a niche for the segment in the market.

What is your company’s business model and do you provide any add-on services?
Our company has an omnichannel business model that brings about the confluence of offline and online assets. This is to harness the maximum benefits of both channels. It enables customers to explore through our vast collection of cars online, which also has a provision for physical tours to thoroughly inspect and get the feel of the car before purchasing it. Besides that, we have a provision for doorstep test drive for a hassle-free experience. Some of our prominent services include easy finance and insurance, park and sell service and an in-house service centre.

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Tata Motors Passenger Vehicles has announced it will present the Indian Women’s Cricket Team with the first lot of the soon-to-be-launched Tata Sierra SUV following their victory at the ICC Women's World Cup. The Tata Sierra is slated to be launched on 25^th November.

The company will gift the top-end model of the Sierra to each team member as part of its salute to the team’s journey and contribution to the country.

Shailesh Chandra, MD and CEO, Tata Motors Passenger Vehicles, said, “The Indian Women’s Cricket Team has made the entire nation proud with their extraordinary performance and remarkable win. Their journey stands as a true testament to determination and the power of belief, qualities that inspire every Indian. At Tata Motors Passenger Vehicles, we are privileged to present these legends with another legend, The Tata Sierra. This is our salute to their spirit and the pride they have brought to the nation – Two legends, One spirit, Infinite inspiration.”

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Maruti Suzuki India, the country’s leading passenger vehicle manufacturer, has attained a new milestone by crossing the 30-million-unit sales milestone in the domestic market.

The new benchmark was attained by the company over a course of 42 years, with the first 10 million unit sales taking 28 years and 2 months to achieve.

The 20 million unit sales took 7 years and 5 months, while the recent milestone took just 6 years and 4 months.

Interestingly, the entry-level hatchback Alto was the most preferred model in the country, with over 4.7 million units sold, followed by Wagon R with 3.4 million units and the sporty Swift with 3.2 million units.

The Brezza and Fronx SUVs also played an instrumental role in contributing to the sales milestone, being featured among the top 10 models sold in the country.

It was on 14^th December 1983, Maruti Suzuki India delivered its first model, the iconic Maruti 800, to its first customer.

Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India, said, “When I look at the length and breadth of India and think that 3 crore customers have placed their trust in Maruti Suzuki to realise their dream of mobility, it fills me with humility and gratitude. Yet, with car penetration at approximately 33 vehicles per 1,000 people, we know our journey is far from over. We will continue to make every possible effort to bring the joy of mobility to as many people as we can, while also be an asset to both the economy and the environment at the same time.”

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American electric vehicle maker Tesla has appointed Sharad Agarwal, former Chief Business Officer of Classic Legends, as its new business head, according to a report by Bloomberg.

The report further stated that Agarwal joined the EV maker a week ago and is tasked to drive sales for Tesla in India, which as per industry observers, has not performed as per the company’s expectations.

Agarwal, an automotive industry veteran, had begun his career with TVS Motor Co as Area Sales Manager in December 2002, before joining Mahindra First Choice Wheels as its Business Head for North and Eastern region in March 2007.

It was in January 2013, he moved to Audi India as the head of Sales, before taking over as the head of Lamborghini India in April 2016, where he spent almost 9 years, before joining Classic Legends.

During his tenure at Lamborghini, the Italian super luxury car maker saw its dealerships across India achieved a Return on Sales (RoS) of more than 10 percent, setting a new benchmark for the automotive business in the country. He also grew India’s ranking for the automaker as the third market globally in terms of PR visibility in 2021.

He also expanded Lamborghini India’s reach to over 60 cities, with sales volumes from Tier 2 and Tier 3 cities contributing more than 25 percent of the total.

Tesla, which formally started deliveries in September 2025 with its first dealership in Mumbai and the second facility in Delhi, has till date delivered 114 vehicles, of the estimated 600-plus bookings.

File photo for representational purposes only.

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Mumbai-headquartered business conglomerate Mahindra & Mahindra has announced its financial results for Q2 FY2026 with consolidated Revenue reaching INR 461 billion, marking a 22 percent YoY growth.

The consolidated Profit After Tax (PAT) stood at INR 36 billion, a 16 percent increase YoY. The company stated that, excluding specific one-time impacts, PAT growth was 28 percent YoY.

Mahindra’s Auto business reported sales of 262,000 vehicles, up 13 percent, which includes around 146,000 SUV sales. This translated to a revenue of INR 271 billion, up 25 percent YoY, while net profit came at INR 15 billion, up 8 percent YoY.

On the other hand, the farm sector reported its highest ever Q2 market share at 43 percent with sales of 123,000 units, up 32 percent YoY. The revenue came at INR 102 billion, up 25 percent, while consolidated net profit came at INR 11 billion, up 45 percent YoY.

Dr. Anish Shah, Group CEO & Managing Director, Mahindra & Mahindra, said, “We are pleased with the strong execution and solid performance delivered across the group in Q2 FY2026. Auto and Farm sustained their leadership with consistent gains in market share and profitability. TechM is progressing well on its transformation journey. MMFSL achieved a 45 percent PAT growth and remains committed to quality growth and digital transformation. Our Growth Gems are steadily advancing towards their ambitious goals, reinforcing our long-term value creation potential.”

Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), Mahindra & Mahindra, said, “Strong performance of our Auto and Farm businesses continues in Q2 FY2026 reinforcing our leadership position, with a gain of 390 bps YoY in SUV revenue share, and 100 bps YoY in LCV (< 3.5T) market share. In Tractors, we gained 50 bps YoY to reach 43 percent market share. Our Auto Standalone PBIT margin (excl. e-SUV Contract Mfg.) improved by 80 bps to 10.3 percent and core Tractor PBIT margins improved by 190 bps to 20.6 percent.”

Amarjyoti Barua, Group Chief Financial Officer, Mahindra & Mahindra, “Our solid Q2 consolidated results reflects the strength of our diversified portfolio. We continue to deliver on our strategic priorities. We had strong cash generation in the first half, delivering over INR 100 billion of operating cash flow. We remain committed to sustainable growth and value creation.”

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