Business Daily from THE HINDU group of publications
Friday, Sep 28, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Sep 28, 2007 ePaper |
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Corporate
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Outlook ‘DaimlerChrysler facing tough time Hyderabad, Sept. 27 The monopoly of DaimlerChrysler India in the luxury car segment is likely to come to an end with a few global majors such as BMW and Audi players entering the fray. Mr Suhas Kadlaskar, Director (Corporate Affairs) of DaimlerChrysler, said that the company might lose significant market share in the next few years. The luxury car market size, which is about 3,000 units at present, is likely to reach 6,000 units in the next two years. With BMW and Audi announcing plans to set up their assembly units in India, the segment is expected to witness intense competition. Despite mounting competition, the company, which manufactures Mercedes-Benz cars, felt that it could still lead the market with over 50 per cent, backed by the strong basket of products and dealership network. Mr Kadlaskar was here in connection with ‘Mercedes-Benz: The India Trail’. The rally, flagged off in Pune on September 17, featured the entire range of seven Mercedes-Benz cars. The rally would reach Delhi on October 10, covering a cumulative distance of 40,000 km. The company sold about 1,700 cars during January and August this year as against 2,121 cars in 2006, showing a growth of 22 per cent. — Our Bureau More Stories on : Outlook | Cars
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