| The Eleventh World Wealth Report, published a few days ago, has placed the number of dollar denominated, high networth, individuals in India at 1,00,015 in 2006. The number of Mercedes Benz cars being sold across the country, is proof enough. There can not be a better indicator of the rising clout of wealthy individuals in India , who are not only earning but also spending.
Mercedes cars with price tag of between Rs 2.5 million and Rs.12.5 million ($300,000), among the most visible symbols of prosperity across the country, have caught the fancy of not only the wealthy individuals living in large, metro cities of Mumbai, Delhi, Bangalore, or Chennai, but also the smaller tier-II & III cities like Ludhiana, Madurai, and Jaipur.
Mercedes, which sold 2121 cars in 2006 (740 in 1995), is on its way to achieve even higher sales; it has already sold 1033 cars in the first five months of the year. Ludhiana , with 750 vehicles, is perhaps, the city with highest per capita density of these cars.
Encouraged by tremendous customer response, Mercedes has increased its retail presence even in small towns. It now has 30 showrooms, including Madurai , Jaipur, Ludhiana , Kolhapur and Bhubaneshwar.
While, Mercedes' entry level C class is priced around Rs 2.5 million, its highest selling E class is priced between Rs.3.8-4.8million. The four seater, two door car targeted at youngsters is priced between Rs 12-16 million.
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