BMW hit the right button in India by unveiling three of its new models at the Delhi Auto Expo 2010.
The cars which BMW India unveiled were the sports car Gran Turismo, sports coupe’ X6 M and super luxury sedan 760Li. BMW India already on a high after beating compatriot Mercedes-Benz India in the Indian car sales terms now plans to invest $ 50 million in India to start its auto finance business in the middle of the year.
The company has taken over the luxury car market leader Mercedes Benz in 2009 in terms of sales and expanded its market share to over 40 per cent in the luxury car segment.
“Despite all challenges, BMW India delivered strong operating performance in 2009 and achieved a market leadership in the luxury car segment. This is the most successful market entry for BWM in any country,” said BMW India president Peter Kronschnabl.
BMW Gran Turismo (GT) was launched as a limited edition model with only 100 units up for sale now in India and has been priced at Rs 63 lakh (ex-showroom-Delhi), while the X6 M carries a price tag of Rs 1.29 crore and the BMW 7 series sedan 760Li will lessen the pockets of the wealthy by Rs 1.3 crore.
The carmaker also showcased its sporty utility vehicle (SUV) X1 at the auto exhibition. BMW will import X1 as a completely knocked down unit and will churn it out of its manufacturing plant in Chennai to be sold to Indian consumers from 2010 end. BMW X1 is considered to be chapter in itself in the company’s India strategy.
BMW India during the ongoing Auto Expo hinted that the company had made additional plans to pump in additional investment to expand its capacity at Chennai and the details of the investments were not disclosed but the company is quite optimistic in hiring additional workforce at the plant.
BMW that sold 3,619 cars in the country during 2009, currently, has the capacity to produce 3,000 units annually working in a single shift. The company produces cars under its ‘3’ and ‘5’ series at its Chennai plant but imports other premium models like its ‘6’ and ‘7’ series cars. BMW has also sought a licence to operate its wholly-owned auto finance arm BMW Financial Services as an NBFC.
The cars which BMW India unveiled were the sports car Gran Turismo, sports coupe’ X6 M and super luxury sedan 760Li. BMW India already on a high after beating compatriot Mercedes-Benz India in the Indian car sales terms now plans to invest $ 50 million in India to start its auto finance business in the middle of the year.
The company has taken over the luxury car market leader Mercedes Benz in 2009 in terms of sales and expanded its market share to over 40 per cent in the luxury car segment.
“Despite all challenges, BMW India delivered strong operating performance in 2009 and achieved a market leadership in the luxury car segment. This is the most successful market entry for BWM in any country,” said BMW India president Peter Kronschnabl.
BMW Gran Turismo (GT) was launched as a limited edition model with only 100 units up for sale now in India and has been priced at Rs 63 lakh (ex-showroom-Delhi), while the X6 M carries a price tag of Rs 1.29 crore and the BMW 7 series sedan 760Li will lessen the pockets of the wealthy by Rs 1.3 crore.
The carmaker also showcased its sporty utility vehicle (SUV) X1 at the auto exhibition. BMW will import X1 as a completely knocked down unit and will churn it out of its manufacturing plant in Chennai to be sold to Indian consumers from 2010 end. BMW X1 is considered to be chapter in itself in the company’s India strategy.
BMW India during the ongoing Auto Expo hinted that the company had made additional plans to pump in additional investment to expand its capacity at Chennai and the details of the investments were not disclosed but the company is quite optimistic in hiring additional workforce at the plant.
BMW that sold 3,619 cars in the country during 2009, currently, has the capacity to produce 3,000 units annually working in a single shift. The company produces cars under its ‘3’ and ‘5’ series at its Chennai plant but imports other premium models like its ‘6’ and ‘7’ series cars. BMW has also sought a licence to operate its wholly-owned auto finance arm BMW Financial Services as an NBFC.
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