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Sales of cars in premium segment should be touching 1 lakh on a yearly basis

Posted 8 years ago by QuikrCars | 680 views

According to iconic luxury car maker BMW, premium segment car sales should be hitting the 1 lakh mark by the year 2020.

Used car sales EXPAND
Image Source: https://www.keralaonroad.com/used-cars-kerala/wp-content/uploads/2015/09/Best-used-cars-for-sale.jpg

The sales of premium segment cars are currently between 1-1.5% of total car sales and cover around 30-35, 000 units annually. This would go up to 1 lakh every year with increasing purchasing power in the country according to the Director, Marketing at BMW, Frank Schloeder. This would be a reality by 2020 according to him. The company is also planning to launch a brand new variant of the 7 series and a small SUV by 2016’s first quarter and these would be showcased at the Delhi Auto Expo in February.

The company has also launched its BMW i18 in 2015 which is a plug-in petrol cum electric vehicle. The hybrid sports vehicle is available at BMW dealerships across India. BMW India is currently witnessing positive growth and the Group has invested approximately INR 4.9 million into this market with a plant at Chennai, training centre at Gurgaon and component warehouse at Mumbai. The Chennai plant produces eight BMW models for India and 50% of all components are sourced from domestic sources as part of the Make in India initiative.

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