As first reported by Bloomberg, Tata Motors Ltd. will set up ten Land Rover and Jaguar dealerships for India in order to take advantage of the country's fast growing market.
With dealers in large cities such as Mumbai, New Delhi, Bangalore, Hyderabad and Ahmedabad, the company will be joining with Daimler, BMW and Audi that are already offering luxury cars to the Indian market and saw their sales increase of 82, 53 and 62 percent respectively compared to 2009 in the period between April and September.
This decision was also probably taken knowing that the combined net worth of India’s 100 wealthiest people climbed to a record $300 billion this year, which is equivalent to a quarter of the country’s gross domestic product, according to Forbes. Therefore, stating that their luxury goods market is fast growing is really an understatement, especially when you know that it's projected to triple to $14.7 billion by 2015, according to a Confederation of Indian Industry and A.T. Kearney report.
Rohit Suri, the India head of Tata Motor’s premier car division also confirmed that the company will begin assembling Land Rover models in the country around mid-2011, as they are already setting up a plant.
Source: Auto News via Bloomberg
With dealers in large cities such as Mumbai, New Delhi, Bangalore, Hyderabad and Ahmedabad, the company will be joining with Daimler, BMW and Audi that are already offering luxury cars to the Indian market and saw their sales increase of 82, 53 and 62 percent respectively compared to 2009 in the period between April and September.
This decision was also probably taken knowing that the combined net worth of India’s 100 wealthiest people climbed to a record $300 billion this year, which is equivalent to a quarter of the country’s gross domestic product, according to Forbes. Therefore, stating that their luxury goods market is fast growing is really an understatement, especially when you know that it's projected to triple to $14.7 billion by 2015, according to a Confederation of Indian Industry and A.T. Kearney report.
Rohit Suri, the India head of Tata Motor’s premier car division also confirmed that the company will begin assembling Land Rover models in the country around mid-2011, as they are already setting up a plant.
Source: Auto News via Bloomberg