BMW India is set to launch its new 300cc motorbike in association with TVS Motor next year. The company also plans to introduce its 6-Series Grand Turismo and the new X3.
BMW India is set to launch its new 300cc motorbike in association with TVS Motor next year. The company also plans to introduce its 6-Series Grand Turismo and the new X3. The auto major is looking to close this calendar year with a 12% growth over 2016. In an interview with FE here on Thursday, Vikram Pawah, president, BMW Group India, said, “BMW Motorrad has already begun exporting Made in India BMW bikes to Europe and Middle East countries. Our plan is to launch the Made in India BMW products in phases across the world. There is no delay in our India plans. We will launch our product for India in the early part of 2018 and we will be doubling the Motorrad dealerships to 8 by 2018,” he said.
The company sold a total of 5,159 units between January and July. “With the launch of new 5-Series a few days ago and the ensuing festive season, the company hopes to end with a minimum of 12% growth this year,” Pawah said.
The 5-Series contributes 30% to the company’s overall sales. “The new 6 Series GT will be the 8th product to be localised in our Chennai plant,” he added. The company will also increase the number of dealerships to 50 from 41 now.
“We have decided to invest more in India both in products as well in our financial services arm. Our total investments in India has gone up from Rs 1,130 crore to Rs 1,250 crore in 2017 and we will invest further depending upon the growth momentum,” he said. On Mini, its iconic brand, Pawah said that around 240 units were sold in the first seven months of 2017.
To a question, he said: “Our captive finance arm helps garnering sizeable chunk of new customers. Equally our leasing/second hand car businesses also contributes substantially to our overall sales. In 2016, our second hand car business BMW Premium Select sold 1,100 units. Both leasing and second hand car businesses will play a crucial role in our future growth momentum.”