 "Aston Martin DB12")
Aston Martin, British luxury carmaker, will expand its presence in India by opening new dealerships as the number of high net worth individuals (HNIs) are expected to double in the country in the next five years, a senior executive said on Friday.
Aston Martin currently sells about 10-15 cars per year in India through its official dealer Select Cars. The company on Friday launched sportscar DB12 at a starting price of Rs 4.59 crore, excluding customization options.
"Clearly, we would be interested in understanding where we could put other dealerships (in India). That could be with our current partner (Select Cars) or others...I think we need to be looking in the south (India) but we need to be open-minded given that even these demographic changes are depending upon technology hubs and other things within India itself," Gregory Adams, Regional President (Asia), Aston Martin, said during a press briefing.
He added that opening up a National Sales Company (NSC) in India would be a second step after expanding the dealership network. "We want to be sure that we have a strong understanding of the market and a strong foothold with our dealer network and then, it (NSC) is something we need to look at," he mentioned.
Lamborghini -- Aston Martin's competitor -- has a NSC in India. The Italian luxury carmaker delivered 92 units in India in 2022, recording a 30 per cent year-on-year growth.
When asked about the high sales of Lamborghini as compared to Aston Martin in India, Adams replied: "You mentioned the competition. They have a little bit of a headstart plus they have a sales company (NSC) set up in the country there. We would be looking to understand what is the best business set up and arrangement we can create in the next 2-3 years to see how we could service our clients in a better way going forward."
He said that sales growth in India has frankly been "a little slower" than other countries in Asia but that is now part of the past. "I think everybody recognizes the country's growth rate....We are also anticipating that in the next five years, the number of HNIs will double in India," he added.
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Aston Martin already sells DBX707 and DBX550 in India. Adamis said the company will be renewing its sports car line up in the country. The company will also be launching its upcoming plug-in hybrid car Valhalla in India, he added.
