Delhi: Surge in demand for luxury cars ahead of G-20 Summit

The G-20 Summit is scheduled to take place in New Delhi on 9th September and 10th September. The G-20 presidency is evenly distributed amongst its members on a rotational basis. Apart from conducting the Summit the nation with the responsibility of the presidency also manages the agenda of the organisation over its one year tenure. This year India has been given the responsibility. 

This has acted as a boost for the luxury car market. There has been a demand of 500 luxury cars for the event. Delhi based company, Mann Tour and Travels has spent Rs 60 crore to stack its inventory with Mercedes, Audi and BMW cars. Apart from this Toyota and Volvo cars would also be in use over the due course of the event.

"Mann Tours is coordinating a fleet of over 300 vehicles for this occasion. India is on the verge of making history by hosting the G20 Summit. Because of the COVID pandemic, the industry capacity went down by 30-40% and around 90% of operators were in losses. The G20 Summit in the capital will benefit all companies and such an event was much needed," Amrit Mann, Director of Mann Tours stated, as per a report in CNBC TV18.