| Date: |
11-03-2011 |
| Subject: |
Ferrari To Make India Debut, Price To Start From Rs 2.27 crore |
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NEW DELHI: Italian super sports car Ferrari will be launched in India. The car will be available in the price band of 2.27-3.37 crore. Ferrari, part of Italy's largest car company Fiat Auto, has inked a deal with India's Shreyans group to import and sell these cars by spring this year.
The first showroom will start in Delhi shortly followed by Mumbai in the second half of this year.
"We will be looking at pan India presence in the long term, but initial sales will begin only in Delhi and Mumbai. We would be incurring an expenditure of $27 million for establishing dealers and service network in India. We don't have any sales projection for the Indian market, but are looking at gaining leadership position in the sports car segment," said Ashish Chordia, Chairman of Shreyans Group.
The new entity will have an independent operations in India and will not be associated with parents other subsidiary, Fiat Auto India that makes and sells popular cars like Punto hatchback and Linea sedan in the domestic market. Ferrari will compete with the likes of other super sports cars like Lamborghini that is part of the Volkswagen Group and is also sold independently in the Indian market.
Source : economictimes.indiatimes.com
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