German luxury car maker BMW would introduce locally manufactured premium SUV (sports utility vehicle) X5 and high end GT series in India this year, a top official said today.
The launch of new cars are part of the company's "sustainable growth strategy," according to BMW India Managing Director Robert Frittrang.
"We are adding new models. We have increased our model range from seven BMW models to nine this year. So, 2014 we will end up with 9 different models which includes Mini models," he told reporters after attending a conference on Conscious Competitiveness organised by Confederation of Indian Industry, here.
Elaborating about the company's launches in India, he said: "At the AutoExpo, the interest was on the most famous car - the i8. We also spoke about the upcoming cars. We spoke a lot about the GT series which will be introduced soon in India."
He said GT series is a concept car that offers more room, longer wheel base. Besides, introducing the GT series, he said the company would also introduce premium SUV X5 as a "locally" manufactured product competing with Mercedes Benz M-Class.
He said the X5 model range would join the other products X1 and X3 range of SUVs which are also produced at the company's plant here.
"Already, we are producing X3 and X1 in India. Now as the flagship, the X5 will be added as a locally produced car this year," he said.
Noting that it India has become "very aggressive" market, Frittrang said, "BMW achieved No1 last year in 2013 again, worldwide. This year, we call it as a sustainable growth strategy in India. We will be focusing on profitable sustainable growth".
"We are thinking now where do we want to focus, on which car segment in India. The marketing team would device the strategy with a focus on sustainable growth. It can be put in place from next month," he said.
Asked about the benefits that company would get by producing cars locally, he said, "it is a worldwide strategy to produce locally to penetrate into the market and to get the market share. If you import a CBU car in the country, you will not be price competitive."
He said the locally produced car would be on par with the specification and quality levels of the same car produced in the company's manufacturing facilities located in United States and in Germany.
Observing that the luxury segment in India was about 35,000 to 40,000 units a year now, he said: "We are focusing only on sustainable growth.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
