Maserati aims to tap into demand in Tier II, Tier III cities of India
Italian carmaker Maserati is looking to tap into demand for super luxury cars in India's Tier II and Tier III cities which are seeing a rise in such demand, as the carmaker intends to make its foundation stronger in the country, a senior company official told PTI.
Maserati APAC head Bojan Jankulovski shared the plans the automaker has for the country. “Maserati is pushing for the demand for its product offerings in Tier II and Tier III Indian market... India is an extremely diverse country," he added. He shared that though metros have always served as a wider market for the brand, demands from cities like Lucknow, Kanpur, Indore, Bhopal, Mangalore, Chandigarh, Goa and many more will serve as a new ground to increase the company's reach.
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He added that an evolved customer base coupled with higher disposable income is the reason for these emerging markets. “These cities have the potential to continue providing sizable opportunities in the future too and are proving to be catalysts in spurring demand for super luxury brands," Jankulovski said. The company also has plans to launch its super sports car, Maserati MC20 in the first quarter of 2022 and launching the Levante Hybrid in the fourth quarter of 2021.
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At present, the luxury automaker offers a range of models that include Ghibli and Quattroporte sedans, Levante SUV and GranTurismo and GranCabrio sports cars, prices of which start from ₹1.15 crores. Jankulovski also mentioned that Maserati plans to bring the Trofeo range of Levante and Quattroporte to the country. "Armored with one of the most powerful engines ever fitted in a Maserati it is built around a V8 engine and the Levante is one of the fastest SUVs ever built, boasting a top speed of 304 km/hr. India launch is expected in Q3 2021," he added.
He also showed confidence in the Indian luxury car market as he shared that it is expected to grow significantly in the next five years. "It is expected to grow at a CAGR of approximately 15-20 per cent over the next 5 years. With the growth of the affluent segment and the increase in the standard of living, the evolving consumers are laying focus on whether the brand resonates with their personality and lifestyle choices," he added.
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The brand re-entered India in 2015 and renewed its focus on customer experience by researching the market, choosing suitable partners and putting in efforts to enhance accessibility across key growth markets.
(With inputs from PTI)