Tuesday, July 19, 2011
By Pranjal Gera
Mercedes having car leasing business on cards
Mercedes Benz, Leading luxury car maker’s Indian unit is ready to enter the car leasing business in the Indian Auto market as the demand for luxury cars is increasing in the leasing market. Presently, No other luxury car maker offer cars on lease so Mercedes will be the first luxury car brand marking its debut in the business.
In starting, Mercedes will be leasing cars to the companies and then after seeing the growth in the venture, the company also has plans to lease cars to individuals.
Reported by an industrial source, Chief Executive officer of Mercedes Benz reported that Mercedes will begin leasing vehicles in the country by the end of 2011. Presently, The Mercedes is only planning to lease cars to the companies as Indian buyers believe in purchasing the car and leasing a luxury car is a new concept. Though, the Company will consider at later stages about individual leasing. Initially, Dealers will be purchasing cars from Mercedes Benz and will then lease them to various Companies.
Mercedes Benz is the biggest brand in the used vehicles business world-wide and more than 35,000 units of Mercedes Benz are running on roads in India.