Ferrari to see Indian shores by early 2011

Friday 10 December 2010, 00:00 AM by Payal Pathak

Ferrari, the leading Italian luxury car maker, has stated on Wednesday that it plans to formally enter the Indian market by Early 2011, though it was always here through less structural tie-ups. While announcing company’s plans for the Indian market, Mr. Valerie Costa, the communications director of Ferrari, told to reporter here that the company’s sports car sensation Ferrari will see Indian shores by the earlier part of 2011. He added that car will be brought in the country through completely built-up unit (CBU) route from its base market.

With the launch of its Indian dealership, the total number of Ferrari dealerships will reach-up to 58 dealers, worldwide. The super luxury Ferrari cars have always been one of the most admired cars in India. The car is currently owned by India’s top celebrities and businessmen including the likes of Sachin Tendulkar and Ratan Tata.

Though the company hasn’t disclosed the name of the Ferrari models which it is planning to launch in the Indian market, it is speculated that it may roll-out one among the 599 GTO, 599 GTB Fiorana, California, 612 Scaglietti and 458 Italia model. The company is expected to price Ferrari over Rs 1 crore in the Indian market as import of CBU unit of this segment of cars attracts a whopping 110% import duty.

The announcement of the launch of Ferrari models in India has come in the wake of rising demand for luxury sports cars in the country’s auto market. In past few months, a number of luxury car makers have announced their plans of entering into the Indian market including Koenigsegg, Spyker, and Bugatti.

On the other hand, the leading player of the luxury car segment in the country including Mercedes Benz, BMW and Audi have been posting double digit sales growth in the Indian market since the starting of this year.

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