Friday, July 22, 2011
By Pranjal Gera
Sports cars like Lamborghini, Audi, Jaguar, Nissan, Ferrari, Maserati and Porsche eye the luxury segment
March this year Lamborghini launched LP 700-4 and almost simultaneously Audi launched the Audi R8 with a Audi V10 engine in February. Jaguar is the next one who will be launching their Jaguar XKR-S model which was unveiled worldwide at the Geneva Motor show in March 2011.
Most of these cars fall in the above crores segment and also these luxury cars unlike other luxury cars are not chauffer driven cars and mostly self driven. They are mostly leisure cars. This segment has become really popular and seen a boost especially in the Indian Market.
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Big brands like Maserati and Ferrari and showcasing their vehicles in the Indian market to mark their presence. But Industrial experts say that even after this boom this market will stay very small and limited in aspects. It will have only 15-25 cars in the market an year.
Last year the luxury Rolls Royce sold 70-80 models in the 2.5-4 crore category and these numbers are great. This year the market hasn’t produced any great result.
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The cars of these segments more importantly the sport cars don’t add much value but are mainly bought for the image that it provides to its owner that is the reason for all the rush to fill up the gaps from the supply side. From the demand side to a lot of people are going ahead and buying these cars as they believe that these cars will give them that image to look more stylish and presentable in public. There are various celebrities who opt for such cars. Celebrities like Sachin Tendulkar, Sanjay Dutt and Raymond boss Gautam Singhania are some of the recent celebrities who are more interested in these cars.
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Ashish Chordia, chairman of Shreyans Group which boasts dealerships of brands like Ferrari, Maserati and Porsche says that the luxury car market has grown a lot in the last 5-6 years and last year there was a boost of 70 percent growth in the country and also he said that the response this year has been impressive as well.
The market dynamics are definitely changing according to the industrial experts. India now has an average age of 27 years and is one of the youngest countries. This makes them younger than any of the markets like China (35 years), US (37), Russia (39) and UAE (40) hence the buyer’s of cars of these segments has increased as well. This fact hold true for Mercedes as well.