The Indian automobile sector seems all set to welcome another luxury car entrant.The unparallel opulence and changing attitude is drivingthe luxury car market in India. There are many existing players in this segment but the number is growing at stellar pace. The latest to join this bandwagon is Aston Martin from UK.
Aston Martin, the UK-based luxury and sports car maker vroomed into India with the launch of its entire range. This includes the V8 Vantage Coupe, V8 Vantage Roadster, V12 Vantage, DB9 Coupe, DB9 Volante, V8 Vantage S, Virage and the four door sports car Rapide. The range starts from Rs 1.35 crore and goes up to Rs 20 crore.At Rs 20 crore, the One-77 model is the most expensive in the companyís line-up presently.
The company would launch a small city car in India next year, expected to be the most expensive small car ever in the country. The Aston Martin Cygnet is a two-seater, built primarily for the European market. The car was first unveiled as a concept in March 2011.
Aston Martin Lagonda Limited is a British manufacturer of luxury sports cars, based in Gaydon, Warwickshire.It also designs and engineers cars which are manufactured by Magna Steyr in Austria. From 1994 until 2007 Aston Martin was part of the Ford Motor Company, becoming part of the company's Premier Automotive Group in 2000. On 12 March 2007, it was purchased for £479 mn by a joint venture company, headed by David Richards and co-owned by Investment Dar and Adeem Investment of Kuwait and American businessman John Sinders.Ford retained a US$77 mn stake in Aston Martin, valuing the company at US$925 mn.
The company has two facilities in England and Australia and manufactures around 8,000 units per year. The company has 134 dealers in 42 countries.As part of the company's ongoing expansion plans, the company has recently entered into Brazil, Chile,Croatia, Czech Republic, Greece,Taiwan and Turkey seeking continued growth in new markets as well as emerging markets, including China and the Middle-East.Performance Cars is a division of Infinity Cars, which also has a dealership of BMW cars in Maharashtra and Madhya Pradesh. It is has been appointed as the official importer and distributor by Aston Martin.
Astonís launch in India is just a sequel of similar launches by global premium automotive brands such as Maserati, Koenigsegg and Bugati. Bentley and Rolls-Royce too recently added new models to their line-up.Indiaís demand for such high-end cars(Table 1) has pushed their yearly sales to around 700-800 units annually with an average growth of around 30-50 per cent every year. More brands including Ferrari and Alfa Romeo are also expected to make their entry into India over the next 12 months.
The luxury car market in India has registered very high growth in the last few years and is growing at the rate of 25% per year. Luxury car is designed to give satisfaction and comfort to its owner. A luxury car typically has carrying capacity of 6 passengers. The luxury cars in the Indian market are very expensive, with price tags that start from 20 lakh.
There are many growth drivers for Indian luxury car market in India. These include high GDP growth rate, financing schemes, friendly regimes and policies.Aston Martin foray into Indian automobile market is yet another example of how global companies are quickly realizing the significance of Indiaís strong demand realities. It is time that other British companies also follow the footstep of Aston Martin.
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