DHAKA: German giant Mercedes admits it was ‘a little surprised’ when Indian customers snapped up 125 of its new top-of-the-line S-Class luxury cars costing US$250,000 apiece in just 16 days.

India’s auto industry has skidded onto an icy patch and is set for a second straight year of decline, but one segment still accelerating is luxury cars.

Analysts at India’s premier auto fair in the capital`s suburb of Greater Noida last week said for the ‘really rich’, economic downturns have a ‘negligible impact’ on their luxury spending.

The wealthy are much less sensitive to high interest rates and are more resilient overall to downturns, say analysts, reports The Straits Time.

BDST: 1420 HRS, FEB 09, 2014