Already India is host to luxury car brands like BMW, Audi, Volvo and others, who have a market worth few thousands. Many luxury car manufacturers are moving their bases to cheaper markets to cut down costs, which will eventually lower the cost of their cars to suit local conditions. Luxury cars are witnessing an unprecedented growth in these countries. These markets may become more important than their existing markets.
It is not the rich countries like US, France, Germany and UK which will be the driving forces for luxury cars anymore. The demand is getting flat in several European countries. According to a report in Daimler, manufacturer of Mercedes-Benz, the markets of India, China and Russia will be driving the auto market in 2008. The trend may also extend in the next decade.
Labels: BMW-Cars, luxury cars
2 Comments:
It is interesting to note that existing forces will no longer rule the aspirations in luxury car market. Since the inception of cars they have traditionally concentrated on richer zones like the Americas and western Europe. However, now the shift is towards making cars affordable, rather than the opposite. Market forces will drive the business in future.
India's wealth is driving big car names to this country. Mercedes is happy that its sales graphs is rising and Indian is happy that it has more Mercedes to own. I only hope that Indians are not being given cheaper versions while they pay the same price as their European counterparts.
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