Rolls Royce eyes 2 tier cities in India

Rolls-Royce, the elite luxury car maker, is looking into foraying 2 tier cities in India which are seeing a growing number of richies in the country. According to a Merill Lynch report, the number of millionaires in India surged to a record high of 1,53,000 in 2010, making the country's high net worth individual (HNI) population 12th largest across the globe. However, the British company is finding it hard to acquire dealerships in India.

See More Rolls-Royce Drophead Pictures                                                  Read More on Rolls-Royce Drophead

As large as 35% of the global sales of Rolls Royce comes from the Asia-Pacific region, especially China, which is its largest network after United States. With a total of 10 dealers in China, the company manages to sell close to 1,000 units per year there. Herfried Hasenoehrl, head, business development, Rolls Royce India said that right now Rolls Royce have only two dealers. The company is looking at accommodating more volume and move to new cities with immediate foray in Gujarat.

See More Rolls-Royce Phantom Pictures                                                   Read More on Rolls-Royce Phantom

Foreseeing huge potential for selling more cars in India, Hasenoehrl said that Rolls Royce is looking at putting together a five-year dealer expansion plan that will take India's global sales contribution to at least 15%. Since, India has the fastest-growing rate of millionaires in the world; Rolls-Royce wants to sell at least 6,000 cars in a period of five years and needs more than five dealers to achieve the target. The carmaker has three cars in India, namely Rolls Royce Drophead, Rolls Royce Ghost and Rolls-Royce Phantom with a sale of little less than 100 cars per year.