The Monk may have sold his Ferrari, but rich Indians will not have to wait long to buy the iconic sports car. Ferrari cars, which are now owned by big boys of India Inc like Vijay Mallya and the Poonawallas, will hit the Indian roads by 2009. “We will arrive in India soon. It is too early to discuss, we should be in India only by 2009,” said Davide Kluzer, a Ferrari spokesperson, speaking to the Hindustan Times. Ferrari, owned by Italian car major Fiat group, may come cheaper to Indians, who pay a hefty 120 per cent import duty on it now.
“The base Ferrari model is available for Rs 2.2 crore, including the import duty. Upon entry in India, the costs may go down slightly by about a couple of lakhs,” said Hormaz Sorabjee, editor of Autocar India. Sachin Tendulkar, who was gifted a Ferrari, was criticised for requesting an import duty waiver.
Ferrari, which entered China in 2004, sold 177 vehicles last year, 27 more than predicted. It expects China to become its fifth largest market in six years. Ferrari is using its China strategy in India. In 2005, it launched a marketing campaign with a 15,000-mile tour across China. On Tuesday, a 13,000-km tour was flagged off in Mumbai by Tata group Chairman Ratan Tata and Vice-chairman of Fiat John Elkann. It will return to Mumbai on May 7 touching 57 cities.
Fiat group and Tata Motors forged an alliance in 2006, by way of which the duo agreed to co-operate on dealer network sharing.