Audi India, the Indian subsidiary of the German luxury automobile manufacturer Audi is planning to launch leasing options for its car models by the end of 2013 with the aim of tapping the salaried upper middle class car buyers in India.
The salaried class buyers account for 5-10 percent of the carmaker’s total sales in India. The German automaker sees potential in the segment to grow to about 20-30 percent by 2018 and is planning to increase its sales by offering attractive financial schemes.
According to Mr. Michael Perschke Head of Audi India, offering finance schemes for the salaried upper middle class is expected to boost growth in the luxury car sales. Under these schemes, the buyer will be able to buy an Audi on lease for 3 years by paying half of the car’s cost. After the completion of 3 years, the buyer will have the option to either return the car or retain it by paying monthly installment for complete ownership.
Other luxury carmakers in India such as Mercedes Benz and BMW are already offering such schemes and options to car buyers.