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Life on the road is tough, and it is the dream of any vehicle owner to keep the exterior of your car looking new for as long as possible. No matter how good a paint job is, there is no coat of paint more valuable than when your car first glides out of the showroom for the first time; and any luxury vehicle owner can vouch for that.
India is a huge market for vehicles and poses a very high potential for luxury cars. Although the penetration level of the Indian luxury car market is perceived to be low, leading luxury car manufacturers are betting on the market's potential. The Indian luxury car market studied was valued at more than USD 1 billion in 2020, and it is expected to reach a value of over USD 2 billion by 2026, registering a CAGR of more than 6% during the forecast period.
According to a recent report published by the Economic Times, sales in India's luxury car market have shown immense growth. Major luxury car manufacturers including Mercedes Benz, BMW, and Audi are estimated to have collectively sold over 8,500 units, making the Q3 of 2021 the highest in the past 3 years. With the luxury car market sitting on nearly 2000 units of pending bookings, Q4 is already heading towards record volumes.
Luxury car sales in India in the first nine months of 2021 were almost at last year's level for the entire year and the market is expected to close at around 26,000 to 28,000 units, according to industry executives.
With the rise in the demand for luxury vehicles in India, one affiliate sector showing high growth projections is the premium automobile aftermarket care industry. Increasing sales of high-end cars especially in metro cities in India have proven to directly impact the overall market demand for paint protection film, among other car-care accessories.
From paint to interior protection, window films, tint, car-care, and self-installation kits, XPEL products have been designed to outperform competition globally, marketing top-of-the-line, premium, and professional-grade car-care products to vehicle owners.
Their offerings span across protective films, ceramic coatings, and other car-care products which include:
2. Stealth - Transparent Satin Protection
3. XR Prime Plus - Ceramic Window Films
XPEL's PPF products have proven to safeguard vehicle paint from unsightly damage and maximize the resale value of the vehicle with its superior features which include self-healing, stain-resistance, and superior optical clarity. This serves as invisible protection that is thicker than the actual paint of the car.
The overwhelming demand for XPEL products in India was fulfilled when Uniprotect Ventures LLP, a leading automotive aftermarket trade company distributing world-class brands in India, Sri Lanka, Nepal, Bangladesh, and the Middle East Regions signed up as the exclusive master distributor for the brand.
Uniprotect Ventures has been distributing XPEL brand products in India since 2016; and in 2020, the brand decided to explore exclusive franchisee stores across India. They inaugurated their first exclusive XPEL showroom in Bengaluru, which is operated by 'Cars Buddy', a boutique car detailing studio that has cemented the trust in XPEL products by opening its second showroom in the city within less than 18 months.
Mr. Nidhin Sreekumar, Director at Uniprotect Ventures said, "XPEL is the world's largest manufacturer of premium automobile paint and protection films. With a network of trained installers and proprietary DAP software, Uniprotect ventures and XPEL are committed to exceeding customers' expectations, and providing high-quality products with expert technical support and best-in-class customer service."
He further stated " We have carefully chalked out a roadmap for XPEL paint protection products for Indian consumers within the cities they live in. We aim to launch over 96 stores across tier 1, 2 & 3 cities in India in the coming years. All these facilities will be equipped to offer an international standard of workmanship, full-range of authentic XPEL products, precision pre-cut PPF, and a national warranty-claim policy."
Additionally from luxury cars, Mr. Nidhin Sreekumar has also further built on the position of XPEL in India by addressing mid-segment vehicle manufacturers like KIA, and MG among others. Aspiring to further strengthen the brand, the team at XPEL India has also built an exclusive training center in Bengaluru that caters to developing skills to work in this trade, creating opportunities for many who aim to delve into the industry.