India's Luxury Car Market: The Competition Heats Up
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Code : COM0096
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Region : India
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Abstract:
The impact of India's initiatives on economic liberalisation and globalisation (post 1991) was most apparent in the automotive sector. The economy was growing at 7% per annum and the information technology revolution in India had created a sizable professional class with huge purchasing power. Moreover, the new age Indian was becoming more comfortable with his riches and flagrant display of wealth, which ushered in opportunities for global luxury carmakers in India. Analysts estimate that the luxury car segment would be growing at a rate of 28% annually. More than 7,000 luxury cars were sold in India every year and nearly 20 global luxury brands were competing for the market share.
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Keywords : Indian luxury car market; Premium car manufacturer; Indian economy; Indian car industry; Industry Analysis Case Study; Quantitative restrictions; Economic liberalisation and globalisation; De-licensing of automotive sector; Consumer behaviour; Marketing strategies; Brand awareness; Dealer networks; Customs duty
Contents :
» Indian Car Industry: A Profile
» Indian Luxury Car Market
» The Competition Hots Up
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