Audi to foray into India's luxury car market in July

Tuesday, 01 June 2004, 19:30 IST
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NEW DELHI: German carmaker Audi Monday said it would enter India's fast growing luxury car market in July with the setting up of one dealership each in New Delhi and Mumbai. The company plans to launch the Audi A6 executive-class saloon, the Audi TT Coupe sports car, Audi A8 sporty saloon and Audi Quattro all-road luxury touring car, said a statement issued here. "With the establishment of a dealer network in India, Audi is now betting on another key market of the future," it said. Audi plans to sell 1,000 vehicles over the next five years in India. In the short-term, the company said sales are expected to touch a "triple digit number" by the end of the current fiscal year on March 31, 2005. "We will take up a sporty position and watch carefully the way the market develops. There is still a lot more potential in this market and we certainly intend to exploit it," said Joerg Hofmann, managing director (Asia Pacific) of Audi. The growth in the luxury car segment in India tripled in the last five years and is expected to grow by 25 percent this year. "With India as the fourth biggest market in Asia, we see it offering excellent opportunities for Audi," said Sunil Kaul, country manager (Asia Pacific). "It is the right time for us to enter this promising market with a growing pool of discerning, increasingly affluent consumers, who we believe will appreciate Audi's sporty, progressive and sophisticated offerings." On target customers, the company said: "Firstly, Audi will build and grow awareness and brand image amongst its target audience of discerning individuals who have made it in terms of career and financial stability." Though Audi will start local business by setting up one dealership each in Delhi and Mumbai, who will provide sales, after-sales, and parts services, it said additional service centres would be set up in other locations as business grows.
Source: IANS
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