Ferrari enters India market

New Delhi: Sports car icon Ferrari said Thursday it had entered into an agreement with India's Shreyans Group to sell four of its models in the country. India is one of the most aggressively growing automobile markets in the world, and the luxury segment in particular has seen exponential growth in recent times.

Shreyans group will import and sell Ferrari cars through two dealerships, first of which will open in New Delhi by spring and the second in Mumbai in the latter half of the year, Fiat SpA said in a statement.

Ferrari will launch its California, 458 Italia, 599 GTB Fiorani and FF car models in India.

The Shreyans Group said it will setup an independent Ferrari India office with experienced professionals to manage the upcoming dealer network.

"We are proud to announce the partnership with Ferrari today. This brand represents for us the epitome of success and we are proud to partner with one of the world's most desired brand. We will establish a highly qualified network of Ferrari dealers across India to cater to the discerning needs of our customer" said Ashish Chordia, chairman of Shreyans Group.

The range of Ferrari which will be sold in the Indian market includes the 8-cylinder Ferrari California and 458 Italia, and the 12-cylinder 599GTB Fiorano, joined by the FF, the latest model launched by Ferrari which is currently on display at the Geneva Motor Show.

The Shreyans Group is a significant player in luxury retail in India and distributes and retails luxury products, including cars, yachts, super bikes, fashion articles, jewellery, etc.