eCharcha.Com   Support eCharcha.Com. Click on sponsor ad to shop online!

Advertise Here

Go Back   eCharcha.Com > Current Affairs > Economy

Notices

Economy Fiscally fit?

Reply
 
Thread Tools Display Modes
  #1  
Old October 4th, 2012, 05:21 AM
Mukesh's Avatar
Mukesh Mukesh is offline
Senior eCharchan
 
Join Date: Aug 2012
Posts: 801
Mukesh has a reputation beyond reputeMukesh has a reputation beyond reputeMukesh has a reputation beyond reputeMukesh has a reputation beyond reputeMukesh has a reputation beyond reputeMukesh has a reputation beyond reputeMukesh has a reputation beyond reputeMukesh has a reputation beyond reputeMukesh has a reputation beyond reputeMukesh has a reputation beyond reputeMukesh has a reputation beyond repute
A Mercedes for under Rs. 20 lakh? Possibly

New Delhi: German auto major Mercedes-Benz today said it will look at introducing models, including the A-Class, priced below Rs. 20 lakh in its bid to regain No. 1 spot in the Indian luxury car market.

The company, which will complete launching of products aimed to drive volumes in India by 2015-16, expects 40 per cent of its entire product range to be priced below Rs. 25 lakh in the next 5- 10 years. It is investing Rs. 250 crore on new product line up till 2014.

"Yes, we are thinking in this direction," Mercedes-Benz India managing director and CEO Peter Honegg told reporters when asked if the company would introduce a model below Rs. 20 lakh category to gain volume.

"I will not eliminate the case that we will have a car below Rs. 20 lakh," he added.

He said the upcoming model A-Class in next year could be priced in this range. The company will also introduce a sports utility vehicle based on the A-Class platform.

Asked if the company will source smaller engines from French car giant Renault, with which the German firm's parent Daimler has a global association, for the Indian market, Honegg said the company may consider it in future although no decision has been taken yet.

Talking about its product plan, he said: "In the next 5-10 years, 40 per cent of our new models will be below priced Rs. 25 lakh... The premium segment, which is in the range of Rs. 20 lakh to Rs. 30 lakh, is witnessing good growth in India, while the luxury segment above that is flat."

Mercedes-Benz India had lost its leadership position to compatriot BMW in 2009. This year, it is likely to slip to the third position, giving way to Audi India, which is expecting to sell over 8,000 units.

Honegg said the company will close the year by selling almost the same number of cars sold in last year.

In 2011, Mercedes-Benz's sales increased by 27.69 per cent to 7,430 units from 5,819 units in 2010.

"Globally our target is regain the number one position by 2020. In India, we will be fighting for number game much ahead of it. By 2015-16, we will have the entire range of products from premium to luxury in India and that is when we will look at competition again," Honegg said.

He said the company's present aim is to remain profitable in times of severe pressure from adverse currency fluctuations that has forced the firm to hike the prices twice by a total of 4-5 per cent in 2012.

Source
__________________
Whenever you think that you are arguing with a fool, you must make sure that he is not doing the same.
Reply With Quote
Reply

Bookmarks


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Only in Japan (possibly NSFW) Diplomat Friday Special 4 July 31st, 2011 02:20 PM
Can We Possibly Agree on India's 5 Most Morally Corrupt Politicians? badriprasad Indian Politics 16 December 7th, 2010 07:52 AM
Windows XP Boot Problem: The image oleaut32.dll is possibly corrupt landyaBhai How to 1 November 22nd, 2007 06:14 PM
Possibly the most popular thread!! Alibaba Friday Special 1 June 16th, 2007 07:16 AM
Amrika for Rs 15 lakh Parashuram Taaza Khabar - Current news 0 May 11th, 2002 07:33 PM


All times are GMT -7. The time now is 10:23 AM.


Powered by vBulletin® Version 3.7.2
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
Site Copyright © eCharcha.Com 2000-2012.