Lamborghini sales growth in India to continue in 2017

Lamborghini sales growth in India to continue in 2017

Lamborghini is gearing up to cash in on the rise of new breed of consumers in India.

The Dollar Business Bureau

Luxury car maker Lamborghini expects a double digit growth this year in the sales of its exclusive super sports cars in India, citing stable import policy has supported in its sales growth.

The Italian brand has two product launches lined up in India in 2017, including the new Avendator. Earlier this month, the company has launched the convertible Huracan Spyder with rear-wheel drive, which is priced at Rs.3.45 crore.

The Italian sports car manufacturer is preparing to cash in on the rise of a new breed of consumers in India - the first generation entrepreneurs, specifically from tier II and III cities and also the women buyers.

“In 2017, I expect that the segment should carry on with its double digit growth which it had in 2016,” Sharad Agarwal, Lamborghini India Head, told PTI.

Since 2011, the category of exclusive super sports car that includes those cars with an import price of more than Rs.2.25 crore like Audi R8, Mercedes AMG GTS and Ferrari was falling, he said.

In the year 2015, the sports car category witnessed a marginal growth that was followed by a better growth of double digits in 2016, with industry estimating the total number of cars sold to about 70 units.

Citing the reasons behind such a growth, Agarwal said, “A lot of it has to do with the stability in policies because between 2011 and 2015 there were lot of changes in the import duties and structures, which were always creating disruptions in the market.”

“Now things have been stabilised. Once the things get stabilised, market will pick up growth. This is more about stability and consistency,” he added.

The Dollar Business Bureau - Feb 13, 2017 12:00 IST
 
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