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Italian Carmaker Sets Sights On India's High Net Worth Market

Vanessa Doctor Asia Correspondent September 24, 2013

Italian Carmaker Sets Sights On India's High Net Worth Market

Italian carmaker Lamborghini has revealed optimism over the Indian market as it searches for another country where luxury cars are in demand.

Speaking to local reporters at the opening of its second dealership in India in New Delhi, Stephan Winkelmann, chief executive, reportedly admitted that the Chinese government's campaign against graft and conspicuous spending has limited its prospects. 

The Indian high net worth market, most of whom are first generation entrepreneurs and second-generation businessmen, have been found to have a love for fancy cars. The firm is reportedly set on opening its third dealership in Banglore soon, pending talks with a local partner.

"In the coming years, we expect our sales [in India] to be about 30-40 units a year. This year, the company is targeting to sell over 20 cars, from 17 units in 2012," Winkelmann has been quoted as saying. 

In India, Lamborghini sells two models: the Aventador and the Gallardo, which are priced from Rs2.8 crore to Rs6.30 crore ($447,000 to $1.01 million). China remains its largest market despite the slowdown. In 2012, the firm sold around 230 cars. It expects this number to be at around 200 in 2013.

 

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