Apart from this, Audi India is going to introduce a leasing option, which should be in place by the end of this year, reports The Hindu Business Line. Thanks to leasing, their customers can lease the car for the first 3 years, following which they are presented with an option to either return the vehicle or continue paying for it in monthly installments.
This form of leasing is seen mainly in the developed countries such as US, wherein nearly 40% luxury cars are sold in this way. Currently, just 5 to 10% of Audi buyers in India are in this upper middle class segment but come its new leasing option and the company expects this percentage to increase to at least 20 to 30%. Leasing is being practiced in Indian markets by both Mercedes Benz and BMW while Audi India offers schemes such as extended warranty, insurance and financing options in the form of a service plan only.
Future launches for Audi India include the compact A3 sedan and the new Q7 SUV, both of which are scheduled to take place next year. Audi India is the No 1 car manufacturer in India, followed by Mercedes Benz and BMW. They aim to maintain their lead with a target of selling 30,000 units annually by 2020.