Punjab has stood one of the bestsellers for the luxuy cars sales despite having the GDP growth rate of 5% which is approximately just just high than the national growth rate of 9% and the agriculture growth rate of mere 2%.
The real-estate boom in punjab touched high and the landlords made quite a good bucks by selling thier lands and the quick earned money played a role on spending on luxury cars.
BMW sold more than 90 cars in less than 6 months while Daimler is expecting to sell 200 units during its financial year. Ludhiana hold the tag of highest numb er of Mercedes and the number is growing. Other premium models like Skoda and Corolla are also very popular brands in the state. Volvo has appointed a new dealer location in Chandigarh.
The research shows that despite the overall picture of economy growth in punjab where state has slipped to 6th slot in terms of per capita income and many industrial units relocated to neaighbouring states due to tax and other lack of resoruces, the car market is still up and growing.
NRI money is also playing a role in giving rise to the luxury car market and easy availiability of back credits have also guven a push to this growth.
http://www.SikhPress.com
Sunday, March 29, 2009
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