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Ferrari Returns to India
Ferrari SpA is preparing to re-enter the Indian luxury car market after an attempt four years ago faltered.
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Ferrari SpA is preparing to re-enter the Indian luxury car market after an attempt four years ago faltered.
The supercar maker is opening two new dealerships in Mumbai and New Delhi later this year. The company made the announcement in Mumbai earlier today as it unveiled the California T convertible with a starting price of 34.5 million rupees (€456,700).
Ferrari plans to make several other models available through its new outlets, beginning with its new 488 GTB early next year.
India has about 8,600 residents with assets of at least $30 million, according to Bloomberg News. It notes Ferrari will be competing with sister brand Maserati and such rivals as Aston Martin and Lamborghini in an ultra-luxury Indian market that has been slow to develop.
Ferrari's first venture into India was in 2011 with the Shreyans Group. The venture sold about 50 cars. But the relationship ended abruptly over customer complaints about the level of service provided. The brand's new representatives are Select Cars in Delhi and Navnit Motors in Mumbai.
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