More Luxury Cars In India

Thursday 17 April 2008, 00:00 AM by Satish

It is not only the small car that is booming. Indian auto market scenario is witnessing boom from all corners. Auto makers are launching car in India in nearly all segments. India shall witness more luxury cars in coming next few years.

Ferrari is in India amongst the convoy of 10 cars for Magic India Discovery. It has 2 612 Scagliettis amongst the convoy. Ferrari has already undertaken a study of Indian car market and plans to enter India within next few years.

India has witnessed Lamborghini, Bentley, Land Rover, Rolls Royce, have been launched over the past few years but Mercedes Benz has been around or quite some time. Now Lexus, Ferrari and Ashton shall make a foray in India soon.

Mercedez Benz plans to invest Rs 250 crores in its second plant to increase its capacity to 5000 vehicles. It has also launched Maybach at Rs 6 crore and the model has shown good sales.

BMW is already set to roll out 3 series and 5 series from its assembly line in Chennai. These two series have seen a price drop of nearly 40%. It is already importing is SUV X3and X5 as CBU to India. BMW sold 1387 units against its target of 1000 units in India last year. This year it plans to sell 2000 units and has already sold 800 units till now.

By 2030, Indian auto market is expected to be third in the world and shall be similar to US market size.

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