Luxury MPVs quadruple as India's CEOs swap sedans for chauffeured 'mobile offices'
Toyota Vellfire, Lexus LM, Mercedes V-Class, Kia Carnival and the electric MG M9 are reshaping India's premium auto mix. Segment volumes jumped from 1,061 units in FY24 to 4,061 in FY26, lifting share from 2.3% to 7.2% as business elites treat the back seat as a productivity pod.
What happened
Toyota Kirloskar Motor · India's luxury MPV segment is booming as executives swap sedans and SUVs for chauffeur-driven 'mobile offices'. Volumes nearly
Key facts
- 1,061 units FY24
- 4,061 units FY26
- share 2.3% to 7.2%
- Vellfire Rs 1.3 cr
- Lexus LM 350h Rs 2.2 cr
- V-Class Rs 1.4 cr
- MG M9 Rs 69.9 lakh
- Carnival Rs 59.42 lakh
- 17,000 Carnival units
Why this matters
The chauffeured-MPV surge opens white-space partnerships in in-vehicle productivity (enterprise connectivity, secure comms, mobile workspace fitouts) and creates acquisition targets among coachbuilders and luxury fleet operators serving India's CXO segment.