Lovers of luxury cars have more good news waiting in the coming months. Car maker Audi will launch its much revered Sports Utility Vehicle Q7 in September. This will be followed by the launch of saloon S8. Both the models will be available in petrol as well as diesel versions.
In an exclusive interview to Business Standard, Audi's newly appointed Country Manager Rahil Ansari said the time was ripe for the company to aggressively launch new products every year.
"With India undergoing a massive infrastructure development, there has been demand for new models from the Indian customers. Launch plans of Q7 and S8 is a testimony to the demand," he said.
Audi Q7 will directly compete with rival Porsche's Cayenne and Mercedes-Benz M-Class, which will be launched this year. The SUV will be priced at Rs 24 lakh upwards (euro 40,000). Q7 boasts a load capacity of 775 litres - the best in its class.
The SUV customers will have the choice of two powerful engines: the new 4.2-litre V8 with FSI petrol direct injection engine and the 3.0 TDI six-cylinder engine. Globally Audi sold 16,800 Q7s after its launch in March 2006.
S8 is powered by an all-new V10 engine boasting 450 horse power At 7,000 rpm and 398 pound-feet of torque at 3,500. The vehicle achieves a speed of 0-60 mph in 4.9 seconds. S8 is the sports version of A8 and will clash with the likes of Mercedes-Benz E-Class and BMW 7 Series.
"Although priced cheaper, it is having the potential to compete even with a Bentley," said a Mumbai-based auto analyst.
It is expected to be priced at Rs 25 lakh ($50,000 upwards).
Audi India started off the year in India by launching A4 sedan. Audi has sold 105 sedans in 2005, majority of them being the A6 range. The other models include A8s, TTs, A6s and A4s.
Globally, Audi sold around 463,500 cars (January-June 2006), a growth of 9.8 per cent compared to previous corresponding period. Germany (205,400), Britain (46,560), US (40,455), and China (38,838) are its four biggest markets. Audi sold 86,400 A3 Sportback (Jan-June), 119,000 Audi A6, and 11,600 A8.
Audi's other German counterparts Porsche and BMW are also upbeat on India. Porsche is planning to launch Carrera GT this year. BMW is planning a new 3 series and a facelifted version of 7 series by the end of 2006.
The committee was in favour of greater independence for the RBI and an average mandated inflation rate of 3-5 per cent. The average inflation rate in 2005-06 was 4.45 per cent but no mandate has been given to the central bank for inflation control.
Sanjeev Sanyal, senior economist of Deutsche Bank, says the targets have shifted over the past decade and the RBI would need around $300 billion worth of reserves today for a credible war-chest.
In one of his recent speeches, RBI Deputy Governor Rakesh Mohan said the impact of a freely floating exchange rate in developed countries was different from an emerging economy like India and hinted that the central bank might not like to loosen its grip over the rupee.
