Ferrari revs up India push with two new cities

Ferrari is expanding its footprint in India to five cities, including Chennai and Ahmedabad, according to the company's senior leadership. The automaker, which is currently present in New Delhi, Bengaluru, and Mumbai, will establish dealerships in these new locations. Ferrari's CEO Benedetto Vigna emphasized the importance of building a strong relationship with India and its growing community of Ferrari enthusiasts during an exhibition held in New Delhi, marking the Italian luxury brand's first event in the country.

The proposed EU-India free trade agreement could potentially lower import duties on luxury sports cars, including Ferrari models, from 110% to as low as 10%, thereby boosting demand for such vehicles in the Indian market. Ferrari has already partnered with the KUN Group for its Chennai dealership and the Infinity Group for its Ahmedabad showroom.

Additionally, the company unveiled its electric vehicle, Luce, at the exhibition, which is set to launch in India. However, it is important to note that the proposed trade agreement does not encompass electric vehicles imported from European countries. Ferrari has also collaborated with students from India's National Institute of Design to develop models that reflect the characteristics of ten Indian cities, potentially adding a local touch to the brand's designs in the future.