More than 75 percent of India’s population lives on less than $2 a day, but that hasn’t stopped Bugatti from selling their Veyron supercar in the country, where a 110 percent import tax has pushed the car’s price to $3.6 million USD.
“People have more spending power and are getting more aware of owning beautiful things,” said Satya Bagla, head of Exclusive Motors Pvt., the dealer for Bugatti, Lamborghini and Bentley, in an interview with Automotive News.
Ferrari will launch its California supercar in India in 2011, and Rolls-Royce has already begun selling cars in the subcontinent. India’s wealthiest 100 people have a combined net worth of $300 billion, or about one quarter of the country’s GDP. This extreme concentration of wealth means that there is a small, but affluent clientele for luxury goods.
[Source: Automotive News]