Despite being among the most expensive brands in India, UK super luxury carmaker, Rolls Royce, has projected a healthy growth in the country led by the expected rise in billionaires by 2023.
The company’s latest launch Ghost Series II costs upwards of Rs. 4.5 crore in India, a far cry from its price in markets such as the US, where it costs the equivalent of Rs. 1.86 crore, Brazil (Rs. 1.7 crore), UK (Rs. 2.3 crore) and Australia (Rs. 2.6 crore).
This makes India one of the most expensive markets for Rolls Royce customers.
The company said that despite steep taxes stifling its growth, India still held potential for them. Luxury cars in India attract import duties to the tune of 160%.
“India is expected to be home to the fourth highest number of billionaires in the world by 2023. Mumbai and Delhi are projected to record the highest rates of growth in their ultra-high net worth individuals,” said Paul Harris, regional director, Asia Pacific, Rolls Royce Motor Cars. “With established presence in these two great cities, we are well poised to meet demand for super luxury cars further fuelled by this anticipated growth.”