Indian luxury car market outperforms Asian peers

Indian luxury car market outperforms Asian peers

PUNE: Given the global economic conditions, the worldwide passenger car market is expected to witness a 10% fall in sales. However, India���s luxury car market outperformed other Asian countries in sales last year by rising 40%.

���I am not sure how the market will develop this year...The trend from the US, western Europe to emerging markets is downward and the outcome is difficult to say.

We believe that global passenger car sales might be down 10% this year,��� said Mercedes Benz India chairman Joachim Schmidt. He was speaking at the inauguration of Mercedes Benz���s Rs 250 crore, 100-acre greenfield assembly facility at Chakan.

The plant has the capacity to assemble 5,000 passenger cars and 1,200 CVs.