British luxury carmaker Aston Martin is upbeat on India growth story. It aims to not only expand its presence in the country, it is optimistic that with the growing number of HNIs (high net worth individuals) and ultra HNIs and its range of products, the sales could almost double.
It is imperative to note that while India is the world’s third-largest car market when it comes to sales of luxury and super luxury vehicles, the country is far behind some of its global economies. The growing Indian economy is giving rise to new millionaires and billionaires, which has also led to the average age of customers for the ultra-luxury segment coming down from an average of 40-55 years to 30-32 years.
Interestingly, while Aston Martin may not be a brand known to many in the country, the company’s legacy and presence spans over almost 100 years. The first Aston Martin to be driven in India is said to be in the early 1920s.
“We are getting a lot of new enquires and seeing demand for the ultra-luxury cars across the country, including tier 2 and tier 3 cities,” shares Tushar Anand, VP, Aston Martin New Delhi.
In fact, while the company has only one showroom in New Delhi, India, it is expected that in the next couple of years, it will add a showroom in the Southern region. This could possibly be followed by a third showroom in the western region.
This is on the back of a strong existing and potential customer base in the country. “Delhi NCR is the biggest market for us,” he says. Bengaluru, Hyderabad, and Mumbai are also important markets, and with the rise of first-generation entrepreneurs, demand for luxury products seems to be stemming out of new regions as well.
At present, Aston Martin sells about 15-25 units in India per annum. This could probably double in the coming few years. It is important to note that while the luxury car market in India sells a few thousand vehicles per year, the ultra-luxury and premium segment just sees about a few hundred units sold combined between the niche brands.
“Aston Martin’s legacy has always been about being a premium and subtle brand,” says Anand explaining why the company appeals to a niche set of customers.
The is presenting the DB12 Coupe priced at Rs 4.59 crore, which is claimed to be the world’s first Super Tourer to potential customers across India. This is part of the company’s ambition to introduce its global product portfolio in India. It also aims to introduce the first electric car from Aston Martin’s stable in the next 2 years.
