The number of millionaires in India will surge to 403,000 by 2015 from 173,000 in 2010, according to investment group CLSA Asia-Pacific. Brands Bentley and Rolls-Royce want to get in on this action by making their marketing campaigns more aggressive in targeting India’s wealthiest 0.01 percent. Bentley, a Volkswagen brand, will soon reveal plans to increase its number of dealerships in India.
It considers India to be its second most important Asian market after China, according to Amy Arora, brand director at distributor Exclusive Motors. Meanwhile, BMW’s Rolls-Royce is expected to triple its number of showrooms in 2011 to six in India. The youngest person to ever buy a Ghost sedan, which has a starting price of 29 million rupees (427,000 euros or $570,000), is from India.
Deepesh Rathore, the managing director for analysts IHS Automotive in India, said that the “new rich” in India want a car that’s not as common as BMW and Mercedes. Arora said that earlier this month, Bentley sponsored the Indian Masters tournament of polo. She also said that the company, which has dealerships in New Delhi and Mumbai, would want to open dealers in Hyderabad and Chennai in 2013.