As the car industry in India is cringing at the rising fuel prices, the luxury car segment is reflecting higher sales each subsequent month. BMW, Mercedes, Porsche, Audi have their several models in their product catalogue in India. Nearly every car manufacturer in the premium car segment has witnessed increase in its sales in the past month. All these manufacturers have also collectively set their targets to sell 7000 units in the current year which is 75 percent higher than the last year.
BMW plans to sell 2500 units in 2008 as compared to 250 units sold in 2006 and 1387 units in 2007. It is nearly 80 percent jump in its target but more surprisingly it has already achieved more than 50 percent of its target this year by selling 1323 units from January to May 2008. It has also increased its production capacity to 3000 units per year and further plans to spruce up its model line up. According to Peter Kronschnable, President, BMW India, "We will shortly be introducing a new engine for our 5 series cars in India."
On the other hand, the year has been good for Mercedes Benz as well. It has already sold 1621 cars till May 2008 which is nearly half the cars it sold last year. Mercedes is also targeting new segments in the country. "Apart from the usual clientele like industrialists, filmstars and chairmen of companies, an increasing number of young professionals like doctors, chartered accountants, lawyers and software professionals owning start-ups don't mind splurging on our cars," said Suhas Kadlaskar, director, Corporate Affairs, Mercedes Benz, India.
