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» Premium Car Market

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» The Race to build the cheapest car

Premium Car Market in India Jets to the Top

Alfa Romeo, Hummer, and Lexus are all coming to India. These are just a few global makes that are entering the Indian car market, which has seen a huge demand for Premium cars and SUVs. The fast growing premium car market has attracted many globally recognized manufacturers to introduce their models in 2008. Given the cost consideration of introducing the high-end models, the manufacturers are making careful moves.

General Motors India has quite successfully introduced new models like the Optra Magnum, Tavera, Aveo, and Spark under the Chevrolet name and wants to introduce the Hummer model after a detailed study of the Indian market for this product type. The model is expected to carry changes to better suit Indian driving circumstances.

A couple of manufacturers are also working on expanding their dealership network.

A number of manufacturers are presently working on renovating their high-end models to adapt to Indian road conditions.

The reputed European manufacturer, Fiat, which has made its name decades back in India, is now consciously working on a large scale expansion. Fiat has already entered an agreement with Tata Motors for introduction of its high-end models like the Grande Punto, Linea, and Alfa Romeo.

Not be left behind, Japanese manufacturers are also out fighting for their share in the Indian auto market after eyeing Suzuki’s success with Maruti. The Japanese presence in the Indian market will be heralded by the introduction of high-end models of the Lexus brand.

One factor that continues to worry both the manufacturers and the potential customers is the price. Most of the expected high-end models will be assembled in India after the initial models are imported as completely built units. India has a high customs duty of 110 percent on such products, thus making the already expensive cars even more expensive. With many more auto players planning to launch products in the luxury segment, this segment is likely to see many more numbers in the coming months and the growth of this segment could pursue the Indian government to reconsider some of the import policies.