Lamborghini and Mercedes-Maybach plan to expand in India as a growing tribe of young, rich Indians splurge on super luxury cars, driving their sales to record levels.

Italian supercar maker Lamborghini, fresh from a year of record sales, is exploring a fourth showroom in India, while Mercedes-Maybach sees the country as a potential top-five market by sales, company executives said.

“India, for us, is an asset ... there is a huge potential for the future. There is the idea of having maybe a fourth dealership but this is still something in the early stages,” Lamborghini CEO Stephan Winkelmann told reporters at a virtual roundtable.

The optimism is driven by “a change in generation” in the country with “momentum from younger customers”, he said, adding that the average age of a Lamborghini buyer in India is below 40 years — making it the youngest market after China.

“You have a lot of start-ups in India which are very successful. You have very young, high net worth individuals who are stepping into this type of car. So this is positive for us,” he said.

Daniel Lescow, head of Mercedes-Maybach, said India was already in its top 10 markets and had the potential to be in the top five, but the speed of growth would depend on how the luxury market develops.

“I’m convinced there’s so much more potential ... so many opportunities here,” Lescow told Reuters.

Rapid economic growth in India has wrought a fundamental shift in attitude towards luxury purchases among its younger generations that differs from their elders, who were more concerned with saving.

Executives at start-ups cashing out after record public listings and younger generations of a family business spending with less guilt are driving up sales of all things luxury — cars, watches, bags and even homes.