Audi to raise franchise network; eyes 30% of luxury car mkt

Buoyed by overwhelming response, German luxury car maker Audi would increase its dealership network in the country and aims to grab 30 per cent share of the luxury car market by 2011, a company official said.

"Currently, we have 11 dealerships in major cities. We will be soon appointing new dealers in Lucknow, Jaipur, Coimbatore and Nagpur," Audi India MD Benoit Tiers told reporters.

The company has entered into dealer partnership with Bangalore-headquartered Jubilant Motors for appointing dealers in Southern market.

K Subramanian CEO Jubilant Motors said they have an exclusive showroom in Bangalore and their second dealership in Chennai was expected to be operational by first quarter of 2010. "We have invested close to Rs 12 crore for the Chennai dealership," he added.

Apart from increasing its dealership networks, the car maker had also planned to increase its market share over the next two years, Tiers said.

Audi currently holds 20 per cent share in Indian luxury car segment and has targeted to reach 30 per cent by 2011, Benoit Tiers said.

Terming their growth in the country as "sustainable", Tiers said, "in the last five months alone we have grown by 57 per cent."