BMW launches limited edition Gran Turismo
BMW India will be investing $50 million on its wholly-owned subsidiary, BMW Financial Services India.
Speaking to reporters at the launch of the limited edition BMW Gran Turismo here on Wednesday, Peter Kronschnabi, President, said the finance company would become functional by mid-2010 and have a car insurance adjunct in collaboration with Bajaj Allianz. Also to be introduced this year will be the pre-owned cars showrooms.
While BMW India sold 3,619 cars of all variants in calendar year 2009, it was difficult to hazard a guess about the company’s prospects in the fragmented pre owned cars market, he said.
“In the premium cars segment, with around 10,000 cars sold annually, BMW can claim a 40 per cent share. This segment is expected to grow 20 per cent this year after a dull period last year” Mr. Kroschnabi said.
Asked about the probable date for the debut of BMW X1, he said it would be made at the Chennai plant, the existing capacity of which was 3000 units in a single shift. “We have invested $30 million in the Chennai plant and more investments are planned to enhance capacity for building newer models. We are right now working on the capital investment and additional manpower needed and will announce fresh investment in Chennai after we know the cost factors involved” he said.
Speaking to reporters at the launch of the limited edition BMW Gran Turismo here on Wednesday, Peter Kronschnabi, President, said the finance company would become functional by mid-2010 and have a car insurance adjunct in collaboration with Bajaj Allianz. Also to be introduced this year will be the pre-owned cars showrooms.
While BMW India sold 3,619 cars of all variants in calendar year 2009, it was difficult to hazard a guess about the company’s prospects in the fragmented pre owned cars market, he said.
“In the premium cars segment, with around 10,000 cars sold annually, BMW can claim a 40 per cent share. This segment is expected to grow 20 per cent this year after a dull period last year” Mr. Kroschnabi said.
Asked about the probable date for the debut of BMW X1, he said it would be made at the Chennai plant, the existing capacity of which was 3000 units in a single shift. “We have invested $30 million in the Chennai plant and more investments are planned to enhance capacity for building newer models. We are right now working on the capital investment and additional manpower needed and will announce fresh investment in Chennai after we know the cost factors involved” he said.
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