Audi set for fresh investment in India

Audi is all set to pump in fresh investment in India which will be used to enhance its manufacturing set up in the country. The luxury carmaker has decided on this investment with an aim to sell over 50,000 cars by 2020.

In 2014, Audi had a market share of 34 per cent in India. The company sold 10,851 units last year, a shade higher than the 10,201 units sold by Mercedes-Benz. However, in the first half of 2015 Audi’s compatriot Mercedes-Benz took a lead ahead with the sales of 6,659 units, thereby, registering a growth of 41 per cent.  Audi refused to disclose its numbers for the period, and has stated that it will only announce full-year numbers.

The luxury car market in India accounts for just one per cent of the overall passenger car market. Last year, a total number of 33,000 luxury car units were sold in the country. With the increase in disposable income and easier finance schemes, luxury carmakers expect this share to go up.

Audi entered India around 2007, and since then assembled its cars at the Skoda’s factory in Aurangabad. The luxury carmaker has invested Rs 220 crore in the country as of now. On a single shift, the company can produce 14,000 units on an annual basis.

Source: ETAuto