NEW DELHI, Aug. 27 (UPI) -- Luxury carmaker Ferrari has placed its California T sports car for sale in India for about 35 million rupees ($530,000).
Ferrari had previously suspended sales in India due to a conflict with its distributor over various matters including dissastisfaction with service levels. The company has now found two new dealers and is optimistic about selling to the Indian market because of what Aurelien Sauvard, Ferrari's international sales director, calls "a tremendous number of inquiries" for the company's vehicles.
India is estimated to host Asia's fastest-growing population of rich individuals. The number of people with net assets of no less than $30 million rose by 9.5 percent in India to 8,595 individuals. Japan and China both have a higher population of wealthy people in Asia.
Sauvard said the company has sold about 60 cars in India so far and that it aims to sell 20 more by the year's end, including its California T turbocharged sports car.
The company's Mumbai showroom will open in October.
Luxury cars like Ferraris are heavily taxed in India, and not all roads are of good enough quality to support the car's fast speeds. The taxes make a Ferrari cost twice as much in India than in Italy, where the vehicles are produced.
Ferarri is 90 percent owned by Fiat Chrysler Automobiles NV.