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The blaze engulfed the car showroom situated at Kuttanellur in Thrissur Corporation limits around 6.30 am, fire department officials said.
The incident happened allegedly due to a short circuit.
At least eight fire tenders — seven from Thrissur and one from neighbouring Palakkad district — were rushed to the spot to douse the blaze.
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Two luxury cars were completely and another one partially destroyed in the fire. Besides, accessories worth lakhs of rupees were also completely gutted.
The losses are estimated to be around Rs 1.5 crore, a fire department official told PTI.