Ferrari vrooms into India, price starts at Rs 2.2 crore

Italian luxury sports car Ferrari on Thursday officially entered the Indian market with popular models such as the California, 458 Italia, 599GTB Fiorano and the latest FF at prices starting from Rs 2.2 crore (Rs 22 million)  onward.

"Till yesterday, Ferrari was present in 57 countries. Now we are in the 58th country, which is India. We should have been in India much before and we expect to be able to sell more than 100 cars in the next 2-3 years," Ferrari SpA chief executive officer Amedeo Felisa told reporters.

The company has appointed the Shreyans Group as its official importer in India. Bookings for the cars start on Thursday with the opening of the first dealership in the national capital. The second showroom is scheduled to open in Mumbai in the second half of 2011.

The Ferrari range which will be sold in India includes the Ferrari California priced at Rs 2.2 crore, 458 Italia at Rs 2.56 crore (Rs 25.6 million)  and 599GTB Fiorano tagged at Rs 3.37 crore (Rs 33.7 million). All prices are ex-showroom Delhi.

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Ferrari's latest model the FF, which was unveiled at the Geneva Motor Show earlier this year, will also be available. It carries a price tag of Rs 3.41 crore (Rs 3.41 million).

The Shreyans Group is involved with luxury retail in India, including interests in products such as yachts, super bikes, fashion articles and jewellery, besides cars.

Explaining the late arrival of Ferrari in India, Felisa said it was waiting for the right time to enter the market.

"We are in India for the long run and we wanted to be here at the right time after testing the market," he said.

In 2008, Ferrari had conducted a 'Magic India Discovery Drive' in India, covering more than 13,000 kilometres and touching 57 cities over 74 days as part of a market testing exercise.

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Felisa said globally, Ferrari sold 6,500 cars in 2010 and this year, the company expects to do much better.

"This year, we expect to beat our best-ever sales of 6,700 units achieved in 2007," he said.

The US is Ferrari's biggest market, accounting for about 30 per cent of sales, followed by Germany, while Japan is the biggest in Asia.

He said the Great China region, comprising China, Hong Kong and Taiwan, also has great potential and could become the company's second largest market.

The company sold about 600 units in the region last year.