Luxury Car Manufacturers Remain Upbeat About Market Growth

Luxury car manufacturers like Mercedes- Benz and BMW remain confident about the market growth and increasing capabilities in the Indian market.

So far Daimler had held 5.34 percent stake in Tata Motors which it has now sold to Tata Sons for Rs. 1863 crores and it has exited the Tata group. According to an official statement from Daimler, Mercedes Benz is capable of emerging as a leading car manufacturer including commercial vehicles and capitalise the market potential without help from Tata group.

“An equity participation of Daimler in Tatas is, therefore, no longer necessary. This (the sale) has been done in full consultation with Tatas. Relations between the two companies are excellent and will not be adversely affected by this sale,” the company said.

On the other hand, BMW continues to post robust sales growth in the Indian luxury car segment. Its sales rose by 14 percent in February as compared to same month last year. "In key sales markets such as the US, the automotive sector is showing encouraging signs of a gradual recovery," said the company spokesperson.

Audi also confirmed robust growth in the Indian market where it delivered bulk of its earnings and cash to Volkswagen group results in 2009.

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