Rising incomes and greater aspirations are helping the Indian DaimlerChrysler unit post record sales as it lures younger customers, an official told Reuters.
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The automaker had its best year in India in 2005, selling 1,924 Mercedes cars, Wilfried Aulbur, managing director in the country, told the news agency on Friday.
“If you look at India today, it is a very exciting economy. Things are clearly moving in the right direction in economic growth and we believe that that is going to fuel consumption,” he said.
“A growth-oriented budget and infrastructure investments will increase consumption, so our general feeling about the Indian market is very positive.”
Reuters said the company sold 1,518 units in 2004 in India where its cars have iconic status amongst all age groups and demand for premium cars is growing rapidly as the economy continues to perform well.
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By GlobalDataGDP is forecast to grow 8.1% in the year to March 2006, putting India among the world’s fastest growing economies, the report noted.
Reuters added that BMW, which sold 227 cars in India in 2005, nearly twice as many as in the previous year, expects to sell between 1,500 to 2,000 units after Indian assembly begins in early 2007.
The emergence of an increasingly affluent urban population, mainly young people employed in fast-paced software, telecommunications and manufacturing industries and which is not averse to taking credit, is pushing sales, Aulbur reportedly said.
