A car worth a million dollars in India

As spending power increases in India, producers of luxury vehicles are keenly eyeing India’s burgeoning market. Two such brands, the Volkswagen group company Bentley and German sports car maker Porsche, have zeroed in on the South Asian country.

And in what may seem like an odd exchange, last week the Indian government agreed to soon allow iconic American Harley Davidson luxury motorbikes to roar down Indian roads, in

exchange for allowing Indian mangoes to be sold in US supermarkets.
Apart from agreeing to Euro-III emission norms, the government has eliminated mandatory checks for these bikes. Instead, a test certificate from an accredited agency will now be enough.

The move will also open the floodgates for Japanese bike makers like Yamaha, Honda, Suzuki, and Kawasaki, who should now be able to bring their motorcycles to India.

The indicators for motorbikes in India are good. Rising incomes and easy access to loans have helped drive a vehicle boom in India, the world’s largest market for motorbikes after China. Over 6 million motorcycles are sold in India every year.

With over 1.6 million Indian households earning more than $100,000 a year and 36 listed billionaires, the Indian luxury market is taking off.

Asia Times