And now, a Rs 12.5-cr car for Indian roads | autos | Hindustan Times
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And now, a Rs 12.5-cr car for Indian roads

autos Updated: Mar 29, 2011 21:35 IST
HT Correspondent

InterGlobe Enterprises, which owns India's largest low-cost airline Indigo, on Tuesday announced plans to sell Swedish luxury car Koenigsegg in India.

The Rs 12.5-crore Koenigsegg is a hand-crafted car and the company manufactures around 18 such cars in a year.

"Bringing the most exciting super car in the world we would like to be part of the evolution and progress," said Christian von Koenigsegg, founder and CEO of Koenigsegg.

InterGlobe Enterprises re-branded its subsidiary InterGlobe General Aviation as THE ESTD to offer various luxury products that include Hollisters bikes, Sikorsky helicopters, yachts and speed boats.

"India's luxury market is estimated to grow annually at around 25% to touch $14.72 billion (Rs 65,000 crore) by 2015. This offers an interesting market for luxury products," said Nigel Harwood, president and CEO of THE ESTD.

Harwood added the company plans to individually target high net-worth individuals (HNIs) for sales.

"We know who are our potential customers," said Harwood.