India to become one of the top five auto markets for luxury cars : Mercedes Benz

The Indian auto market has been registering a tremendous growth which has almost broken all previous records. Year 2010 marked a 30 percent growth in the industry making is simply phenomenal. And with this the Indian auto market is bound to attract the global players. Indian is mainly known for its small car segment but what is shocking the world is the growth marked in the luxury car segment. As per the latest reports, Mercedes-Benz, world renowned luxury car maker has pointed Indian auto market to be top-five markets in the world for luxury cars in coming times.

The reports have shown Peter Honegg who is the CEO in Mercedes-Benz saying that though the present market for the luxury cars id pretty small in Indian but the coming time will bring this growing market among the top league. He said that the market is growing at unbelievable rate which is almost double the overall automotive segment. Peter Honegg has been working in the company since 35 long years and in the company he handles the strategic marketing, planning, business development network management, and sales. His work covers markets like Germany, Yugoslavia, Poland, eastern Europe, Iran and Southeast Asia.

He has a graet experience of 5 years working in china which according to him was a big learning period where he got the talent of understanding emerging markets dynamics which also includes India. He has also said that all the markets follow the same trend and has similar characteristics according to which the Indian auto market is following the Chinese market trend. The company has to fight the top rival in market BMW. He has also stated that Mercedes Benz will not work for price advantage but will trace the best marketing strategies to pierce the tough competition.

Read More on : Mercedes-Benz M-Class review