Thursday, Dec 17, 2009
Gulf News
Dubai Ultimate Motors, distributor of exotic and luxury sports cars in the GCC, announced its foray into the Indian car market through a partnership with The National Garage on the sidelines of the Dubai Motor Show.
The move is in line with the distributor's intention to penetrate the potential-laden market, which is growing at a rate of 25 per cent per year according to latest research, as more luxury car brands enter the country to leverage the increase in demand from the affluent population.
Change in focus
The acceleration in India's luxury car market is being driven by a shift in attitude, which is now focused on design, high quality and ultimate performance, especially with the rise in the number of millionaires and high net worth individuals in India.
In addition, the regional coverage of glamorous car rallies, exhibitions, Formula One and international motor shows in the country has stirred the country's passion for supercars that offer high-performance and control matched with extreme comfort. Furthermore, the Indian government's initiatives to lower interest rates and build better infrastructure, particularly good roads, are also positively affecting the demand for ultra-exclusive supercars in India.
"Given its rapidly growing economy and the increasing capacity of high net worth individuals to afford luxury supercars, we have identified India as an ideal market for these new automotive wonders from SSC, Zenvo Automotive and Arash Motor Company. We are also seeing encouraging support from the Indian Government, which fosters the growth of the luxury car market, such as policies on relaxation of equity regulations and the reduction of import tariffs on automobiles," said Nasser Al Hai, President, Ultimate Motors.
Staff Report
Gulf News 2009. All rights reserved.
