As per industry estimates, India registered a sale of almost 38,000 luxury vehicles in 2022 despite growing concerns around inflation. This is quite close to the pre-pandemic figure of 40,000 units sold in 2018. On the other hand, two-wheeler sales are still lagging way behind their pre-pandemic levels, recent figures published by the Federation of Automobile Dealers Associations (FADA) suggest.
The Paradox Called Growth
Hidden behind the story of the post-Covid rebound in the Indian economy is the deceleration at the bottom of the pyramid, reflected in stagnating consumer demand among the lower rungs that have been crippled by job losses, low wages, inflation and apathy among others