Posted Mon, 11/29/2010 - 21:26 by Anonymous
We stared in amazement as Porsche, Lamborghini, Bentley et al made their debuts in the Indian market one after the other. And the recent launch of the super car Bugatti Veyron made us drool over its pictures and footage no end.
Well, here is some more news to make your car-loving taste buds salivate yet again – world’s most loved Italian sports car maker Ferrari is all set to come to India in the next six months.
One of the leading English dailies of the country quoted Valeria Costa, communications director for Ferrari saying, “Ferrari will enter the Indian market in the first half of 2011. India will be the 58th market in the world where Ferrari will be present.”
Ferrari is likely to attract an import duty of 110 per cent. Even though Ferrari is owned by the Fiat group Tata Motors that is Fiat’s group partner in its Indian operations would have nothing to do with its sale. The car would be imported directly.
India has seen an upsurge in the number of luxury car brands and new models being launched in the higher end of the price spectrum. Carmakers like Mercedes Benz, BMW and Audi are neck to neck in the fight for the number one spot in the ultra luxury car segment in the country.
And carmakers like Porsche, Lamborghini, Bugatti etc are slogging it out for the super car segment of the country that has seen the number of millionaires go up manifold in the recent past.
At present the country’s car market is one of the world’s fastest growing. Fuelled by a booming economy and the wealth generated in the process the country’s young achievers want to enjoy what the world has enjoyed in terms of fast and sophisticated cars.
According to a study by US investment bank Merrill Lynch and consultants Capgemini the country saw the number of its millionaires go up by 51 per cent to 126,700 in 2009. However, what remains to be taken care of in India despite the growth are the bad roads that could be the biggest nightmare for not just the owners of these super cars but generally for the overall development of the sector.