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.
India's luxury MPV segment is booming as executives swap sedans and SUVs for chauffeur-driven 'mobile offices'. Volumes nearly quadrupled from FY24 to FY26, led by Toyota Vellfire, Lexus LM, Mercedes V-Class, Kia Carnival and electric MG M9.