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Aston Martin, the renowned British luxury car manufacturer, has its sights firmly set on the Indian market, with ambitious growth plans fueled by the expectation of a rapidly expanding population of high-net-worth individuals in the country. The company recently introduced the all-new DB12 coupe in India, underscoring its commitment to the nation’s burgeoning luxury automobile sector.
Anticipating Growth in High-Net-Worth Population
Aston Martin’s Regional President for Asia, Gregory Adams, expressed the company’s optimistic outlook during a virtual press conference. He stated, “We have high aspirations as to what is going to happen in India…we are anticipating doubling the high net worth population in India over the next five years.”
Currently, Aston Martin sells approximately 10-15 units per year in the Indian market. However, the company is determined to significantly expand its presence in the country over the coming years. Adams remarked, “We will be doing that with the current models plus EVs and other models so we have big aspirations.”
The British automaker has ambitious plans to revamp its sports car lineup and introduce hybrid supercars like the Valhalla, along with a range of SUVs in the Indian market. Adams also highlighted the company’s commitment to electrification, stating, “By 2030 we look to have all core vehicles electrified.”
Expanding Sales Network
Aston Martin acknowledges the need to enhance its sales network to effectively cater to the growing demand in India. Currently, the company operates with just one sales outlet in the country. Plans are underway to explore opportunities for expanding its presence to better serve its customers.
The recent launch of the DB12 coupe in India, priced at Rs 4.59 crore (excluding customisation options), marks a significant milestone for Aston Martin. Adams reflected on the company’s historical journey in India, dating back to the import of the first Aston Martin into the country in 1928. He emphasized that this legacy has evolved, with Indian clients now enjoying a wide range of Aston Martin vehicles, from ultra-luxury SUVs like the DBX and DBX707 to the sporty Vantage series and the world’s first Super Tourer, the DB12.
As Aston Martin positions itself for substantial growth in the Indian luxury car market, it stands as a testament to the growing appeal of high-end automobiles among India’s affluent population. The company’s commitment to expanding its lineup with electrified vehicles aligns with India’s evolving automotive landscape, marked by a growing emphasis on sustainable and environmentally friendly mobility solutions.
Sources By Agencies
