McLaren to enter in Indian Markets
British sports car manufacturer McLaren Automotive announced on August 22, 2022, that it would formally enter the Indian market in the third quarter of that year, that is by October 2022. With Infinity Cars as its first official retail partner in India, the sports car manufacturer will open its first dealership there under the name McLaren Mumbai.
Reason For McLaren’s Entry into the Indian Markets:
- The British company's entry into India will make it its 41st country overall, and its presence here will aid in bolstering its position in the Asia Pacific region.
- Only a small number of McLaren sports cars, all of which are direct imports, are currently owned by customers in India. Additionally, McLaren's entry into India will reignite the rivalry between Porsche, Ferrari, and McLaren, giving customers more options.
- India is primarily a low-cost and price-sensitive car market, with luxury models accounting for slightly more than 1% of total annual sales of approximately 3 million.
Which all cars by McLaren will be available in the Indian Market?
- The company was established in 2010 and now has more than 100 dealers in more than 40 countries offering a wide variety of GT, supercar, Motorsport, and Ultimate models. McLaren will sell every sportscar in its lineup, from the McLaren GT to its newest high-performance hybrid, the Artura, in India once the dealership is ready later this year. The 720S Coupe and Spider as well as the 765LT Coupe and Spider will also be sold by McLaren.
- For every McLaren model, McLaren Mumbai will provide its clients with end-to-end support, including sales, service, and aftersales. Customers will also be able to customize their cars through McLaren Special Operations (MSO). They provide an exclusive range of extra features for new or used McLarens available to retailers. Every McLaren car's character and approach are redefined by personal design, both in form and finish.
International Car Companies that entered in Indian markets:
- Tesla Inc put plans to sell electric cars in India on hold and abandoned a search for showroom space after failing to secure lower import taxes, according to Reuters in May.
- Maruti Suzuki, which is majority-owned by Suzuki Motor Corp, is India's largest carmaker and dominates the entry-level, small car segment.
“India continues to be a significant market where our fans and select clientele can experience the best of McLaren in Mumbai,” said, Paul Harris, Managing Director, APAC and China, of McLaren Automotive. “Looking ahead, we will soon welcome the brand-new, high-performance hybrid supercar, the Artura, to India,” he added.
Lalit Choudary, McLaren Mumbai said, “It is an honor to be appointed as McLaren Automotive’s first retail partner in India – McLaren Mumbai. As a globally renowned supercar manufacturer, McLaren is the pinnacle of modern supercar luxury. We look forward to opening the McLaren Mumbai retail experience center and offering McLaren customers an outstanding opportunity to engage with the brand and to be part of the McLaren owners’ community.”
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DisclaimerInvestment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.
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