Daily Archives: June 13, 2011
Ferrari Enters to Navigate the Potholes
Ferrari opened its first retail showroom in India a few weeks ago. This country has become one of the most attractive destinations in the world for super luxury automobiles. Mercedes and BMW seem almost outmoded by comparison – with a particular sect of customers.
Meanwhile, Rolls Royce, Bentley and Lamborghini have been around for some time. Yawn. So, enter more exotic super-luxury cars to expand the range and please the fancies of the new billionaires and super rich of India. Aston Martin, Bugatti, Maserati and Koenigsegg (Confession: Not being in the same league, I had to look this one up to find out that it was the Swedish super sports car) are here now.
Now, it’s Ferrari’s turn. All major models will be available in India, and price ranges are from roughly $500,000 to $1 million for their cars.
My, but how far we have come!
The dynamic of these super-luxury automobiles navigating the potholes and traffic of India’s roadways reminds me of…what was it again? Oh yes, yin and yang. 🙂
Here are some interesting facts about this market:
- Demand is not just in the top metros; Just like Mercedes has become a staple in Ludhiana, Punjab, these luxury cars are entering smaller metros such as Surat…and Kohlapur!
- The average age of the customers is 33-34 (down from 40-42).
- They are the rapidly increasing number of billionaires (or their kids) in this country who yearn to show off their new wealth with everything from super-homes to yatchs, private planes and flashy, super-expensive automobiles.
- What do they do? They may be rubber barons, diamond traders, exporters, or factory owners found not just in the large metros of India but smaller towns as well.
Photo by: By Kaotic.nite (Own work) [CC-BY-3.0 (www.creativecommons.org/licenses/by/3.0)], via Wikimedia Commons