Ferrari eyeing the growing number of millionaires in India.
By Raif Karerat
Ferrari is looking to reboot its fortunes in India by opening two new dealerships in the nation and introducing the California T sports car after a disastrous initial attempt at entering the Indian market.
Ferrari will add outlets in Mumbai and New Delhi this year, Aurelien Sauvard, sales coordinator for the brand in the Middle East and Africa, said at a press conference in Mumbai.
Both locations will be offering the two-door, four-seat California T hard-top convertible starting at 34 million rupees, or $512,000, said Sharad Kachalia, the head of the Navnit Motors dealership in the city.
The new California T, powered by an 8-cylinder turbocharged engine, can gain a top speed of 196 mph and can go from zero to 60 mph in a blistering 3.6 seconds, according to Topspeed.com. The newest model also offers 15 percent more fuel efficiency over previous iterations.
Ferrari has appointed Select Cars Pvt. Ltd. as its Delhi dealer and Navneet Motors in Mumbai, both of which open Ferrari dealerships in October. In addition to the new California T, the 458 Italia, 458 Spider, and the 458 Speciale will eventually be available, revealed the Italian supercar manufacturer.
“Although this is not a full year we are looking at selling 20 units, including the newly launched Ferrari California T, here in India, next year we will have a full year with all the five range of global models available here. We expect good numbers,” Sauvard remarked to the Press Trust of India.
Ferrari, which entered the Indian market in 2011 through a distribution pact with the Shreyans Group as its official importer in the country, ran into trouble with the partner, resulting in legal battle and ultimately parted ways last year as customer complaints rose.
“The cases have been resolved by Ferrari headquarter in Italy on a case-by-case basis. Each case has been closed and there are no pending cases,” Sauvard told PTI without sharing any details when asked whether past customers who had booked the company’s cars have been compensated or given deliveries.
The supercar producer is rejoining competitors Aston Martin, Fiat Chrysler’s Maserati and Volkswagen AG’s Lamborghini in wooing buyers in India, which is estimated to have Asia’s fastest-growing population of ultra-high net-worth individuals, according to Malay Mail Online.