High duty, lack of infra hurdles to growth of super car market

Tags: News
High duty structure and lack of infrastructure and after-sales service remain roadblocks in the growth of super car market in the country, industrialist Gautam Singhania said here today.

"The government has levied a 170 per cent import duty on super car. It is ridiculous. Moreover, absence of good infrastructure like quality roads are also hampering the growth of the segment," textile major Raymond's chairman and managing director and founding chairman of Super Car Club Gautam Singhania told reporters here.

Singhania was talking to reporters after announcing the date for the 6th edition of the Parx Super Car Show 2014.

The one-day super high-end automobile extravaganza will be held in the city on January 12, which is likely to see the participation from 60-65 members pan India.

Singhania said the current typical super car market stood at around 300. "The growth in the segment will be lower this year," he added.

The cars like Bentley, Ferrari, Lamborghini and Rolls Royce among others fall in the category of super cars.

"The sixth edition of the Parx Super Car Show features the world's most talked about exotic super cars on display," he said.

Singhania informed that Hot Rod-Rebel, the 1932 built, by the US auto major Ford will be one of the major attractions in the 2014 show. Super Car Club has partnered with Omkar Realtors and Developers to organise the show.

"The Club comprise members from Mumbai, Delhi, Pune and it is planning to expand to Ahmedabad, Kolkata and Hyderabad shortly," organisers said.

The show will display iconic cars like Lamborghini, Aston Martin, Ferrari, Porsche, Rolls-Royce Bentley, Audi and Mercedes.

EDITORIAL OF THE DAY

  • Reservations, along with economic subsidies, must go to get India moving

    A young man, in his early twenties, starts an agitation demanding reservation for the community he represents.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

The China story isn’t over yet

China’s financial markets are currently in the eye of a ...

Anuja Sharma

Love yourself to love others

“There are two basic motivating forces: fear and love. When ...

Gautam Gupta

It's a 'blog eat blog' world out there

Let me tell you, fashion journalism has truly taken the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture