Audi India to add its own finance division by 2011 Q1

Those planning to buy a luxury barge from the German car maker can sit back and relax as you no more have to run to financial institutions to lend you desirable amount. Audi is set to establish a finance arm in order to facilitate the buyers a suitable finance scheme to purchase its luxury cars. The finance segment of Audi will operate as a separate entity and will be used to finance the company's car models available in  the Indian auto market.

The launch of this innovative finance unit is expected to take shape in the end of first quarter of year 2011. Addressing the innovative move, Michael Perschke who is the Director of Audi India commented that Audi will soon come up with a separate entity which will provide finance schemes to buyers of its luxury saloons and Sports Utility Vehicles (SUVs) available in the Indian Auto market.

Volkswagen , the German cased luxury car manufacturer, also holds a finance arm for its cars in India which is already registered. He also said that the Audi Finance will appear as separate entity and thus the operations will be independent from that of Audi.

Year, 2010 was a successful year for the company as the performance took a jump of 81 per cent from that of last year and sold 3003 Audi cars. The company now aims to achieve the same growth in running year as well. It has thus targeted a sale figure of 4500 units in year 2011.

The introduction of finance arm has a good reason behind it which according to Mr. Perschke is the changing customer profile. He said that the average age of the customers buying a car has changed drastically from earlier 55 years to present 35 in a span of 10 tears. Thus Indian luxury car market has gone through a tremendous customer profile change and that is the reason people need good financing schemes.

As per Mr. Subramanian K who is the CEO of Audi Chennai, the company will provide financing options to its customers through its dedicated segment and to further facilitate them, it has also established association with other financing institutions.

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