Mercedes-Benz aims double-digit growth in Indian market this year - Business Today

Home /SECTORS /Auto /Story PTI    Chennai   Last Updated: June 4, 2013  | 00:00 IST PHOTO: Reuters German luxury car maker Mercedes-Benz is betting big on the Indian automobile market and aiming for a double-digit growth this year. Mercedes-Benz India Director (Sales and Network development) Boris Fitz said the company sold 7,138 units last year. During the first quarter of this calendar year, the company sold 2,009 units, he said. "...despite the current glitch in the market, we are aiming to register a double digit growth this year...," Fitz said after launching the latest 'A Class' from Mercedes-Benz stable in Chennai on Tuesday. The diesel A 180CDI Style that was launched on Tuesday will be available in Chennai at an introductory price of Rs 24 lakh (ex-showroom) while the petrol A180 Sport variant would cost Rs 24.75 lakh. Fitz, however, declined to reveal the number of units that Mercedes-Benz has planned to sell in India. Stating that Mercedes-Benz was "bullish" about the Indian market, he said the company was investing Rs 250 crore towards capacity expansion plans at its Pune plant. The company is doubling capacity from 10,000 units per year at present to 20,000 units per year. "From the current two per cent, we believe the luxury car market share would increase to 4 per cent of total passenger car market by 2020..", he said. On dealership expansion plans, Fitz said the company currently has 57 outlets in 32 cities and is planning to expand its network. A majority of the company's sales come from five major cities - Delhi, Mumbai, Kolkata, Bangalore and Chennai, he said. "Chennai is an important automobile hub and a key market for us and we are glad to see a steady growth in the demand for Mercedes-Benz cars here over the years," Fitz said. "This year, we have inaugurated (outlets) in New Delhi, NCR, Mumbai, Bangalore, Baroda, Calicut. We are opening one in Gujarat," he said. Hero MotoCorp sales rise marginally in May Tata Motors sales down 23.37 pc in May Hyundai Motor sales up 2% in May Yeh Jawaani Hai Deewani sees biggest opening Airtel submits bid for Myanmar licence DoT slaps Rs 1,263 cr fine on Vodafone via Technology - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFsrbmpUT3Npw1-8UKaQExI4Z63KQ&url=http://businesstoday.intoday.in/story/mercedes-benz-aims-double-digit-growth-in-indian-market/1/195582.html

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