India is becoming a case of missed opportunities: Mercedes Benz

Industrial activity is likely to have gained in the third quarter as the effect of transition to the GST wears off

The Indian luxury car market is becoming a tale of missed opportunities with frequent changes in tax policy, the country’s biggest luxury car player, Mercedes Benz, has said.

Sales of luxury vehicles account for just 1 per cent of the Indian market of over 3 million cars a year. This is low against an average 3-5 per cent in most other countries.

Referring to frequent changes in taxes, Roland Folger, Mercedes Benz MD and CEO in India, said these took away from the growth potential the Indian market truly had. “That is why we call it missed opportunities. We believe India has