'Premium segment car sales in India to touch 1L/year by 2020'

Sales of premium segment cars priced above Rs 25 lakh are expected to touch one lakh per year by 2020, a top official of BMW India said here today.
Premium segment sales in India was hardly between 1-1.5 per cent of total car sales at about 30,000-35,000 units per year and would scale up to 1 lakh in five years, as purchasing power of the Indian population was increasing year on year, Frank Schloeder, Director, Marketing of BMW told PTI.
Schloeder was here to showcase the entire BMW India product portfolio as part of 'The Experience Tour' which concluded at Coimbatore after covering 18 cities.

On new launches, he said they planned to launch new version of BMW 7 series and small SUV in the first quarter of 2016, which would be displayed at Auto Show in Delhi in February.
On other segments, he said the company has launched BMW i18 this year in India, a plug-in-hybrid sports car, both electric and petrol operated and these were available across BMW outlets in the country.
Declining to give details of number of vehicles or growth in India, he said BMW India is achieving 'good growth' in India and BMW Group has invested Rs 4.9 million so far in it, with manufacturing plant in Chennai, a parts warehouse in Mumbai and a training centre in Gurgaon.

The Chennai plant, which became operational in 2007, makes all eight models of BMW for domestic market and as part of Make In India, nearly 50 per cent of components are localised.

MINI has successfully established itself as a premium small
car brand in India. Presently, the MINI model range in India includes the MINI 3-door, MINI 5-door, MINI Convertible, MINI Countryman and the MINI Clubman. MINI has established five exclusive dealerships in India.
The International Purchasing Office (IPO) established in Gurgaon identifies and assesses potential suppliers for BMW, MINI and BMW Motorcycles taking into account the BMW Group's requirements for quality, technology and logistics. The IPO strongly focuses on increasing the sourcing of production material (components) as well as IT and engineering services from India to the BMW Group international production network.

BMW Financial Services India is a 100% subsidiary of the BMW Group and is headquartered in Gurgaon (National Capital Region). BMW Financial Services India operates with three business lines: Retail Finance, Commercial Finance and Insurance Solutions (as corporate agents). The services offered through BMW Financial Services India are significantly valuable to the premium clientele who require exclusive and flexible financial solutions. Service excellence is the primary focus of operations across all business lines.
BMW Financial Services India offers solutions for retail automobile financing for BMW customers and multi-make customers, financing for fleet owners and commercial financing for BMW dealerships and multi-make dealerships. Commercial finance solutions offered to BMW India dealerships further strengthen operations in the country and reinforce the BMW brand.

BMW Financial Services India also offers BMW Lease for individuals and corporate customers.
BMW Financial Services India offers insurance solutions (as corporate agents) to its customers through its cooperation partner in India.
About The BMW Group
With its three brands BMW, MINI and Rolls-Royce, the BMW Group is the world's leading premium manufacturer of automobiles and motorcycles, and also provides premium financial and mobility services. As a global company, the BMW Group operates 31 production and assembly facilities in 14 countries and has a global sales network in more than 140 countries. In 2016, the BMW Group sold approximately 2.367 million cars and 145,000 motorcycles worldwide. The profit before tax was approximately EUR 9.67 billion on revenues amounting to EUR 94.16 billion. As of 31 December 2016, the BMW Group had a workforce of 124,729 employees. The success of the BMW Group has always been based on long-term thinking and responsible action.

The company has therefore established ecological and social sustainability throughout the value chain, comprehensive product responsibility and a clear commitment to conserving resources as an integral part of its strategy.
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Abhay Dange
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Sukriti Kalra
Press and Corporate Affairs
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