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A Study on Luxury Cars in India: A Theoretical Frame Work

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Document pages: 7 pages

Abstract: Globalization and liberalization is very evident in automobile industry, with the entry of many prominent foreign manufacturers. Since early 1990‟s Manufacturers such as Ford, General Motors, Honda, Toyota, Suzuki, Hyundai, Renault, Mitsubishi, Benz, BMW, Volkswagen and Nissan set up their manufacturing units in India in joint venture with their Indian counterpart companies, by making use of the Foreign Direct Investment policy of the Government of India, These manufacturers started capturing the hearts of Indian car customers with their choice of technological and innovative product features, with quality and reliability. Indian markets have seen an increase in the demand of luxury items especially Luxury Cars. Another important fact is that the demand for such cars is not only increased in Tier-I cities but has increased even in Tier- II & Tier- III cities. Considering such shift in buying preference, the global premium luxury cars brands like Audi, BMW Aston Martin, Lamborghini Mercedes, Rolls Royce and others are now eyeing the Indian Market. The conceptual study of brand building in Indian market of these luxury brands is also analysed, as they see huge potential in Indian buyers and are planning to even establish their showrooms and manufacturing units in India. The automobile industry in India is expected to be the world’s third largest by 2016.This paper is will analyse the luxury car market in India over the years and how the buying perception of Indian consumers has changed. The ABCD new business model will provide techniques to analyse the luxury car market in India and will provide guidelines for the research.

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