With sales bottoming out in the recession-hit developed economies, European luxury car-makers are increasingly looking to India to sell their cars, as the number of millionaires is still perceived to be growing here. Over the weekend, both Germany's Audi and Rolls Royce of the UK introduced their top models in the Indian market.
Volkswagen AG's luxury car unit Audi AG has launched its A6 executive car in the country, while Rolls Royce has brought in its marquee Phantom Coupe – its most expensive car – for rich Indian buyers.
The German auto major claims that the A6 is the most successful business sedan in the world as it has a powerful engine, thrilling design and is also fuel efficient. The company said it is sure that the car, which recently won the World Car of the Year award in the performance segment, would become a key player in the luxury car market.
One of the top features of the car is the multimedia interface, which controls the entertainment, satellite navigation, climate control, car settings and other related functions.
On the other hand, the Phantom Coupe – expected to be priced at around Rs4 crore - boasts of producing 460 horsepower, and an acceleration from 0 to 100 km per hour in just 5.8 seconds. Compared to other models, it's 6.75-litre V12 engine is also more fuel efficient.
Recently, Audi introduced its A6 executive car in the country, now Rolls Royce has introduced it's marquee Phantom Coupe to lure the rich Indian buyers. Despite recession, nothing seems to be stopping these car makers.
Audi AG said first-quarter earnings fell 29 per cent as the global recession caused deliveries of the TT sports car and Q7 sport-utility vehicle to drop although sales rose in the first quarter of 2009, helped by incentives from the German government.
Operating profit declined to 363 million euros ($478.1 million) from 514 million euros a year earlier, Ingolstadt, Germany-based Audi said in a statement. Revenue fell 19 per cent to 6.7 billion euros.
European car-industry sales fell 17 per cent in the first quarter, against an expected worldwide 20 per cent fall in the production of light cars and trucks.