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Regardless of slowdown in the opulent car market in global , the German opulent car producer Audi is aiming for a 55 per cent increase in the sales in India in the present year. In the calendar year for the first four months , the company has traded 500 cars in the country. Further , by the close of the year 2009 it is targeting for 1 , 500 as their number. Among this in Kerala 80 of the cars will be sold , said Mr Benoit Tiers , the Managing Director of Audi India.
Although the market level in US and Europe has turned down by 25 to 50% the brunt of the overall decrease for the Indian opulent car is insignificant , said Mr Tiers. In India the turn down in the opulent car will wipe out quickly , he added. Further a long-term approach for the Indian market has been espoused by the company and it is continuously endowed in expanding the group. By 2010 , three dealerships will be started in Ludhiana , Chennai and Delhi and previously nine was started operations .
The volume at the Aurangabad production facility is 1000 cars and it can be increased to 1300. Also an investment of €30 million was made for the Aurangabad plant , said Mr Benoit Tiers. In India , the flagship showroom at Kochi embody the modern and elite terminal architecture. Moreover the intention of the terminal is to augment the visibility of the brand with a design that is directly identifiable in the cities in global. And Kochi takes the second major dealership committed for the sales and the flaunt of the eight Audi cars. The areas used in Kochi is 9 , 000 sq.ft. utterly fanatical for sales. More than 350 Audi terminals will be formed in globally by the close of the year 2012. And the facility in kochi is toting up the novel Audi corporate architecture situated in Tokyo , Geneva , Sydney and Munich , he added.
Swedish Autogiant Volvo concentrates more on dealer infrastructure in India than setting up a assembly unit.The top management said that currently the company is watching the growth space in the luxury space in India.
Paul de Voijs , Managing Director , Volvo Car India , said it was too early for Volvo to talk in terms of an assembly unit in India. “We need to have an idea about the volume. With less than one year into India , it is difficult to make an assessment on the assembly unit , ” he added.
The sale of luxury cars is placed at around 8 , 000 units in 2008 comparing to the passenger car sales of 1.4 million units. “This is a very small portion when compared to other nations , ” he said. Volvo , he said , would be seriously watching the volume growth in this space. Also , it would be keen to know where the import duty headed. These would be critical for Volvo to firm up its view on an assembly unit in India , he said. In this context , he said the European factories of Volvo “still have capacities to expand.”
Mr. Paul de Voijs said Volvo began with three dealers in India.“We are planning to have seven more , covering cities such as Kochi , Bangalore , Chennai , Coimbatore , Ahmedabad , Pune and Kolkata , to have a reasonable presence in the country , ” he said. Volvo has been in the Indian luxury car space since March last and the luxury cars were imported into the country in CBU format.
Luxury car maker Porsche said it is planning to introduce its new sports utility vehicle Cayenne Diesel to India.The talks are underway with Germany for the attempt to bring the new SUV to West Asia and Asia.
Currently the production is taking place at Leipzig in Germany and would be initially available in only selected European markets from February 2009.The new luxury car is equipped with a three-litre V6 turbo diesel engine with 240 HP (176 kW)supplied by Audi AG.There are seven other models in the Cayenne product line.
Audi , the German luxury car manufacturer announces a special offer for its customers – a zero percent financing rate and an extended four years warranty for the Audi A6 range in India. The Audi A6 range includes four variants - 2.8 FSI , 3.2 FSI quattro , 2.7 TDI and 3.0 TDI quattro.
Commenting on the special package Mr. Benoit Tiers , Managing Director Audi India said: “We like to provide our customers with maximum benefits and ensure that they get the best value and service from us. The Audi A6 is one of Audi's most successful exclusive models in India and this initiative will enhance the customer value of the car.”
Audi India also announced recently a price reduction for its homologated models available in India fully passing the revision of excise duty and central value added tax (Cenvat) to the customers. The price of the Audi A6 saw a reduction of INR 1 , 51 , 000.
The entire Audi model range in India consisting of the Audi A8 , Audi Q7 , Audi A6 , the new Audi A4 , Audi TT and the recently launched super sports car Audi R8 is available at twelve dealerships across the country: in Ahmedabad , Delhi , Gurgaon , Chandigarh , Mumbai , Pune , Bangalore , Hyderabad , Ludhiana , Chennai , Kochi and Kolkata.
Indian buyers of small cars are paying upto 14% interest rates compared with the luxury car buyers who are charging only 6%.Due to the severe slump in sales , luxury cars manufacturers , such as BMW , Mercedes-Benz , Porsche , Volvo , Skoda and Audi , are offering low interest packages of 6-7% to lure customers.
Earlier the loans for these cars used to attract interest rates of up to 15% while loans for small and mid-size cars continue to attract 12-15% interest rates.Now the low interest rates lead to a difference of up to Rs 8 , 000 in monthly payouts on a Rs 18-lakh loan.
Luxury car makers are doing all means to tide over the demand slump and clinch targeted annual sales. “We are also feeling the impact of the financial crisis. Customers are wary of new purchases. We have doled out special finance packages with our financial partner Reliance Capital to lower the cost for prospective customers , ” Porsche Cars India MD Rod Wallace said.
Mercedes-Benz is clearing the stocks of its E-Class sedan , which costs up to Rs 40 lakh , by offering a Rs 8-lakh rebate , as the company intends to launch a new E-class model. This is besides a 3% finance payout option for customers.
BMW has also taken similar steps through its preferred financier ICICI Bank. “The slump in the past two months has been steep though we will achieve sales of 2 , 800 cars in 2008. We have launched several innovative schemes to increase footfall in our showrooms , ” said BMW India president Peter Kronschbabl.
Analysts say lower EMIs make a meaningful change in the luxury car segment. “These offers help increase sales tally. About 10% of the customers are swayed by fall in the cost of finance. And banks are more confident to finance the purchase of luxury cars , ” said Mumbai-based consultancy Booz & Company director Vikas Sehgal.