Word: blokland
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Dates: during 2010-2019
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...economy has grown, so has India's appetite for luxury automobiles, making it an important target for foreign automakers looking away from Western markets mired in global recession and whose streets are already bumper to bumper with cars. "India is one of the markets of the future," says Paul Blokland, managing director of Segment Y Automotive Intelligence, an automotive-consulting firm based in Goa, India. "Manufacturers are looking for new growth markets. They're not going to find that in Europe, the U.S. or Japan." (See the 50 worst cars of all time...
...numbers in absolute terms remain small: only 9,000 of the 1.8 million cars sold in India last year were luxury vehicles, but so far the slow and steady approach is paying off. "For all of these companies like Rolls-Royce and Lamborghini, sales have exceeded expectations," says Blokland. "They're all very happy with the sales they've done here...
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