Live
- 2024 on track to be hottest year on record
- PM Modi’s visit to Solapur: Women applaud ‘Double-Engine’ government’s initiatives
- Nagarkurnool MLA Dr. Kuchukulla Rajesh Reddy Campaigning in Maharashtra Elections
- Wife Kills Husband with Her Lover: Details of Veldanda Murder Case Revealed by SP Gaikwad
- Strict Action on Violations of Food Rights: Telangana Food Commission Chairman Goli Srinivas Reddy
- Smooth Conduct of Group-3 Exams with Strict Security Measures: Collector Badavath Santosh
- Delhi HC orders cancellation of LOC issued against Ashneer Grover, wife
- Shami’s absence a major blow for India in BGT, says Paul Adams
- Will organize protests at borders if attack on minority Hindus in Bangladesh not stopped: Bengal LoP
- Dutch Ambassador Marisa Gerard Meets Telangana CM A. Revanth Reddy in Delhi
Over 60 per cent Lamborghini cars sold on EMIs in India
'Our buyers are wealth creators, not wealth inheritors. Though they have money they would calculate everything before shelling out Rs 5 crore on a car,' Lamborghini India head said.
Ahmedabad: Contrary to a belief that super-rich would not think much when it comes to buying their favourite car, the Indian arm of super sports car manufacturer Lamborghini has said around 60 to 65 per cent of their cars are sold on car finance in the country.
While most of the buyers of these super-cars are industrialists and businessmen, the company has rarely sold a car to a corporate professional, such as a CEO, in India, said Lamborghini India head, Sharad Agarwal.
"Our buyers are wealth creators, not wealth inheritors. They understand the value of money. Though they have money they would calculate everything before shelling out Rs 5 crore on a car. He would think about investing that much money into his own business and buy the car on loan," Sharad Agarwal told reporters here.
"Let me tell you that we do sell cars on EMI. More than 60 to 65 per cent our cars are sold on finance. Majority of our buyers are industrialists or businessmen. Unlike in the US, very rarely we witness a corporate professional, like a CEO, buying a Lamborghini in India," he said.
He was speaking to reporters on the sidelines of the launch of 'Huracan EVO RWD', a super sports car. Price of the car starts from Rs 3.22 crore, ex-showroom, pan-India. Agarwal said the super-luxury segment (cars priced above Rs 2.5 crore) too experienced a slowdown last calendar year of 2019 when just 265 such cars of different brands were sold in India.
In 2018, the number was 315. While Lamborghini India sold 45 units in 2018, the number was 52 in 2019 calendar year.
"While the market sentiments were negative last year, our growth was around 15 per cent last year. We are looking to maintain the growth momentum in this year too" said Agarwal, adding that people from non-metro cities are also queuing up to buy Lamborghini cars these days.
"Around three years back, 99 per cent of our sales were coming from metro cities, like Mumbai, Delhi and Kolkata. Now metro cities contribute 75 per cent while 25 per cent sales is coming from tier-1 and tier-2 cities, such as Ahmedabad, Surat, Nashik, Jaipur, Indore and Kanpur. The situation has changed in three years," he said.
