Aston Martin: Aston Martin eyes bigger share in Indian market

NEW DELHI: Known for the famous James Bond flicks, Aston Martin – the British sports carmaker – wants to get a bigger share in the Indian luxury car market.
The company, which sold around 6,400 cars last year with a handful in India, wants to grow its presence in the country when it comes to retail as well as its model line-up. It is even looking to launch its electric vehicle here which comes into the market in 2025, Gregory Adams, Asia president of Aston Martin, told TOI.

The carmaker expects the growing number of millionaires and billionaires in the country to fuel demand for its luxury cars in the market, which has been showing signs of a strong growth of expensive purchases. “India is one of the high-potential markets that we see globally, and we want to expand here with new cars, including electrics as and when they are introduced globally,” Adams said, as he introduced the DB12 coupe in the country priced at Rs 4.6 crore (ex-showroom Delhi).
He said that while the company is currently present in the market with one retail showroom in Delhi, it has plans to expand this.
“As we see it, we see the number of ultra-high net worth individuals doubling in India over the next few years. Indian customers are discerning and similar to those in other key developed markets. We are looking to expand here beyond our current location and are also looking to set up a national sales office here soon.”
The company currently sells two cars in India – the DBX550 SUV priced at Rs 4.5 crore and the DBX707 SUV which is retailed at Rs 4.9 crore.
“We will introduce the plug-in hybrid Valhalla next year, and thereafter the full-electric in 2025. We are in partnership with Lucid for the select powertrain components for the battery electric vehicles,” Adams said.
The market for super luxury cars in India is limited to a few hundred models from companies such as Ferrari, Lamborghini, Bentley and Rolls Royce, but companies feel that volumes will grow as more models are introduced in the country and the economy grows.