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Why "Make-in-India" is a big challenge for luxury carmakers in India
Luxury car sales in India are nearly 1 per cent of the total market, while in the US it's 15 per cent and it's 17 per cent in China. Which means per-car sales in the luxury car market has to be much lower and the cost of getting a part in much more. Schwenk says that in addition to local value adding to world-class products, Mercedes-Benz has also developed India-specific products like the Long Wheel Base E-Class. For luxury carmakers, it's a part of their long-term strategy to bring new models faster to India. " There used to be typically a 6 months to 18 months delay. If there's some rationalisation of taxes, there'll be more growth because the size of the market today does not reflect the kind of wealth and aspirations we have in this country," he said. Source: BusinessToday #MakeInIndia
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