BW Communities

Demand In Luxury Space Hots Up

BW Online Bureau Nov 08, 2014

<?xml version="1.0" encoding="UTF-8"?><root available-locales="en_US," default-locale="en_US"><static-content language-id="en_US"><![CDATA[This year and in the next two years the luxury space will see a lot of action.  To start with, Audi India, which holds the third position in the luxury market will start assembling the Q7 models by end of 2012. It will also consider assembling the Q3 -- which was launched on Thursday at the suto expo -- depending on the market response. For the fastest growing company in the luxury space, Audi India had 84 per cent growth in 2011. "India has been a great market for us. We will look at selling 8000 units by end of this year," says Peter Schwarzenbauer, member of the board of Audi. The company sold 5511 units in 2011. In another 10 years it aims to sell 50,000 units in India. Second in command, Mercedes-Benz launched a luxury SUV, M-Class, which is priced at Rs 58-60 lakh, and an open top vehicle, SLS AMG Roadster, that comes for about Rs 3 crore. It will also launch the B-Class sometime during the third quarter of this year. The company also showcased the concept A class which is expected to be launched in 2013. The company also launched its new design campaign -- ‘mb. Inspired' to get the sporty look. And the market leader in the luxury segment BMW launched the Mini brand in India with four models -- Mini Cooper, the Mini Cooper S, the Mini Convertible and the Mini Cooper S Countryman -- priced between 24.9 lakh and Rs 31.99 lakh. BMW will be importing these models as completely built unit. It has already started bookings for the brand in India and deliveries will start by March this year. Apart from this, the new BMW M5 was also launched today at a whopping price tag of Rs 95 lakhs. The company also previewed the BMW Vision ConnectedDrive Concept. The company will also launch the new BMW 3 series in July 2012.