Ferrari to be launched in India at Rs 2.27-3.37 crore

Friday 11 March 2011, 00:00 AM by Vikas Yogi

Ferrari, the Italian sports car brand which is a part of Italy's largest car company Fiat Auto, is all set to launch its popular Italian sports car in the Indian market soon. The speed sensation Ferrari will be rolled-out in the country in the price bracket of Rs 2.27-3.37 crore.

The company has entered into an agreement with India's Shreyans group for importing and selling these cars in the country by mid of this year. The company will soon start its first showroom in the National Capital, followed by another showroom in Mumbai later this year.

Mr. Ashish Chordia, Chairman of Shreyans Group, said in a recent statement, "We will be looking at pan India presence in the long term, but initial sales will begin only in Delhi and Mumbai. We would be incurring an expenditure of $27 million for establishing dealers and service network in India. We don't have any sales projection for the Indian market, but are looking at gaining leadership position in the sports car segment."

The newly set-up entity will be operating independently in the Indian market, without having any association with its parent’s other subsidiary (Fiat Auto) in the country.

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