British carmaker Aston Martin is planning to launch one new product every year globally and the same would come to India also, till 2020. The product line up includes a SUV, which would suit very well for India, said a senior official from the company.
Meanwhile, the British marquee luxury automobile producer, which was witnessing slowdown in sales due to import duty hopes to sell around 10-12 units in India next year, said an official.
Aston Martin entered India in 2011. For the first two years, the company sold around 30 units, but like other luxury car makers, the company also started witnessing slowdown in sales due to hike in import duty on luxury cars from 110% to 184%.
Change in tax structure made vehicles expensive, which slowed down the market and the currency fluctuations vis-a-vis the UK pound posted challenges, said Neil Slade, President - Middle East and North Africa, who is also responsible for India operations for Aston Martin.
Aston Martin sold around 70 units in India in the last five years.
He spoke to Business Standard as part of company's roadshow to showcase company's newly launched DB11 in Chennai.
"I am still optimistic about India and growth in this country," said Slade adding that India will be an important market for the company globally.
The company started the Second Century plan with the launch of DB11 with a price tag of Rs 4.27 crore. The car is powered by a 5.2-litre twin-turbocharged V12 engine. The new product is positioned between Aston Martin's Rapide, which costs Rs 3.25 crore and Vanquish, which is priced at Rs5.5 crore. The new offerings would help the company to take on Ferrari and Lamborghini.
The upcoming launches include new Vantage, Vanquish S and V8 DB11 and a SUV, which would suit the Indian market very well.