Rolls Royce, Aston Martin, Range Rover just got cheaper! Here’s why
Apr 22, 2017, 11:52 IST
If you have been get yourself a super car, this is the right time. Rolls-Royce, Bentley, Aston Martin, Range Rover and Ferrari have cut prices in India by Rs 20 lakh to more than Rs 1 crore, passing on the benefits from the pound sterling's dive post Britain's decision last year to exit the European Union.
According to the Economic Times, Brexit has made the pound drop by 20% against the rupee in less than a year, making exports to India cheaper for UK-based manufactures and companies that bill India sales in the British currency, such as Italy's Ferrari. They cut prices by 5% to 15%, hoping to attract more buyers for their marquees in a country that is home to the third most number of billionaires
“The marksituation is very positive. All uncertainties have gone away, with a relatively stable government (in India) and benefits of currency depreciation being passed on,” Sharad Kachalia, director at Navnit Motors that imports Rolls-Royce and Ferrari cars in India told the ET.
"We are looking at a much stronger year for the overall supercar market, especially for completely built imports,” he added. He cited currency hedging contracts that companies like Rolls-Royce had previously entered into for them to delay the price revisions, though the pound has been depreciating over the past year.
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According to the Economic Times, Brexit has made the pound drop by 20% against the rupee in less than a year, making exports to India cheaper for UK-based manufactures and companies that bill India sales in the British currency, such as Italy's Ferrari. They cut prices by 5% to 15%, hoping to attract more buyers for their marquees in a country that is home to the third most number of billionaires
“The marksituation is very positive. All uncertainties have gone away, with a relatively stable government (in India) and benefits of currency depreciation being passed on,” Sharad Kachalia, director at Navnit Motors that imports Rolls-Royce and Ferrari cars in India told the ET.
"We are looking at a much stronger year for the overall supercar market, especially for completely built imports,” he added. He cited currency hedging contracts that companies like Rolls-Royce had previously entered into for them to delay the price revisions, though the pound has been depreciating over the past year.