Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Audi Nov sales zoom 89%, revises 2012 target to 8,600 units

Dec 05 2012, 16:34 IST
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The company had posted sales of 425 units in the same month last year. (AP) The company had posted sales of 425 units in the same month last year. (AP)
SummaryThe company had posted sales of 425 units in the same month last year.

German luxury car maker Audi today reported 89 per cent jump in sales in November at 805 units and said it has crossed the 8,000 units sales mark that it set for this year, a month ahead of schedule.

The company had posted sales of 425 units in the same month last year.

"In the January-November period we have sold 8,072 units, which is more than our initial target of selling 8,000 cars by the end of this year. We have achieved this a month before the year ends and hence have revised our sales target to minimum 8,600 cars," Audi India Head Michael Perschke told PTI.

In the January-November period last year Audi India had sold 5,117 units.

Perschke said the company's primary growth driver this year has been the A range of sedans, led by the A4 and A6, followed by the SUVs, Q5, Q7 and Q3.

"Although the market situation is tough, we have been able to get good sales as we have been able to expand our product portfolio and increase sales network. Besides, we have been really focusing on building the Audi brand," he added.

"By 2015, we aim to be the Number 1 luxury car brand in India, and based on our current performance we are well on track to achieve that objective," Perschke said.

With a new assembly line coming on stream at the Aurangabad plant of VW group firm Skoda, Perschke said the company will have an annual capacity of 9,000 to 12,000 units, which will meet 90 per cent of the domestic demand.

He also said that by the end of next year 90 per cent of the company's products sold in India would be assembled locally.

Audi has already announced that by January it will hike the product prices by up to 5 per cent.

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