Nissan to launch Infiniti brand in India
In a bid to expand its reach where luxury cars are concerned, Nissan has now decided to assemble their premium car brand Infiniti in India rather than bringing it into the country as completely built units. Taking into consideration the ever expanding and high in demand luxury car segment in India, a number of auto manufacturers are keen to enter this segment in a big way. Infiniti is a global brand and hence needs to be present in Indian subcontinent, according to a statement issued by Mr. Andy Palmer, Vice President of Nissan Motor Company.
To compete with other luxury car manufacturers like Mercedes Benz and BMW, the company has decided that this Infiniti brand of vehicles should be assembled within the country so as to take advantage of lower taxes thereby bring prices down on par with other cars in its category. By assembling in India rather than importing Infiniti vehicles as completely built up units, Nissan Motor Company will be able to avoid the high import duties thus decreasing the cost factor.
Though the economy is on a downward swing, this has not affected the rising demand for luxury cars in India. Sales of luxury cars are increasing due to higher demand and higher level of available wealth and this has been experienced by all high end auto manufacturers such as BMW, Audi and Jaguar in recent times. Sales are at around 30,000 units annually. Palmer has said that Infiniti brand sells around 150,000 units globally and this figure is slated to increase to 500,000 units once the brand is launched in a host of countries besides India.
The company considers India as a very important market and hopes to capture 8% market share and will enhance their portfolio of luxury cars in India. The Indian luxury segment is flourishing and Toyota is also getting ready to launch Lexus in India to add to their collection on offer in the luxury segment.