LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Automobile News

Ken to maintain growth momentum in 2018, says BMW India president

After many years of volume declines, the German car major had posted a robust 25 per cent volume growth in 2017, creating 9,800 new customers. The numbers include those sold under the BMW and the Mini brands.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Ken to maintain growth momentum in 2018, says BMW India president
BMW unveiled its electric car i3s and hybrid vehicle i8 Roadster along with a slew of other top-end models at the Auto Expo 2018. Image source: Reuters
Updated: Mon, Feb 12, 2018
10:13 am
PTI
RELATED NEWS
BMW India delivers 6,604 cars (BMW + MINI) in 2020 BMW India delivers 6,604 cars (BMW + MINI) in 2020
BMW X5 M Competition launched in India; ex showroom price at Rs 1,94 cr BMW X5 M Competition launched in India; ex showroom price at Rs 1,94 cr
BMW 2 Series Gran Coupe priced at Rs 39.3 lakh on launch; Check features of this sedan here! BMW 2 Series Gran Coupe priced at Rs 39.3 lakh on launch; Check features of this sedan here!
BMW G 310 R, G 310 GS BS6 bikes launched in India; price starts at Rs 2.45 lakh; check booking amount BMW G 310 R, G 310 GS BS6 bikes launched in India; price starts at Rs 2.45 lakh; check booking amount
BMW India commences pre-launch bookings of 2 Series Gran Coupe BMW India commences pre-launch bookings of 2 Series Gran Coupe

The second largest luxury car-maker BMW India hopes to maintain the high double-digits growth it had recorded in 2017 this year as well, but has made it clear that they are not chasing the top slot for some more time here, something it lost out to compatriots Audi and then Mercedes since 2012.

After many years of volume declines, the German car major had posted a robust 25 per cent volume growth in 2017, creating 9,800 new customers. The numbers include those sold under the BMW and the Mini brands. BMW alone clocked 9,379 units.

"I am not chasing the No 1 slot now. That should come on its own in due course. But if no more surprises are in the store like we had from government and the judiciary and also from the economy in the past two years, I am sure we will maintain the double-digits growth this year," BMW Group India president Vikram Pawah told PTI.

It can be noted that while 2015-16 was marred by the Supreme Court imposed diesel ban in the Delhi NCR region, the note ban in November 2016 ensured that the next seven months were also wasted years.

And when finally the GST benefits and the resultant spike in volumes turned out to be really short-lived as with in two months the government jacked up the cess on luxe cars by an additional percent to 50. Yet the first quarter in the post gst regime had done for the industry as their Volumes spiked almost 40 per cent.

Pawah based his optimism to the product offensive the company has planned in the country with seven new models launched at the ongoing Auto Expo. Most of these new introductions will be locally assembled at the Chennai plant.

"We have had the biggest productive offensive in our history here in this market at the 14th Auto Expo,"he noted.

"We are also focusing a lot on our lending arm-- BMW Financial Services?to get more customers and serve them better. Already 75 per cent of our sales are financed," he added.

On the dealership expansion, as he plans it big here, Pawah said they will add seven more dealers by 2020 taking the total to 50 by then. In the medium term, the company will increase the outreach of its mobile service/sales unit to 50 cities shortly.

Terming the Budget and the duty hike on luxe cars as "very disappointing" he said however the company will not pass on the duty hike to customers till end March.

"We will look at passing a portion of the duty hike from April,"Pawah said.

BMW unveiled its electric car i3s and hybrid vehicle i8 Roadster along with a slew of other top-end models at the Auto Expo 2018.

It also launched Series Gran Turismo Sports Line that will be priced at Rs 58.90 lakh as well as M5 that will carry a price tag of Rs 1,43,90,000 (ex-showroom). Besides, it unveiled its five-seater sports activity vehicle Mini Countryman and two motorbikes 'F 750 GS' and 'F 850 GS'. 
 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
BMWBMW IndiaLuxury car-makerAudiMercedesCarsGerman car majorMini brands
RELATED NEWS
BMW India delivers 6,604 cars (BMW + MINI) in 2020 BMW India delivers 6,604 cars (BMW + MINI) in 2020
BMW X5 M Competition launched in India; ex showroom price at Rs 1,94 cr BMW X5 M Competition launched in India; ex showroom price at Rs 1,94 cr
BMW 2 Series Gran Coupe priced at Rs 39.3 lakh on launch; Check features of this sedan here! BMW 2 Series Gran Coupe priced at Rs 39.3 lakh on launch; Check features of this sedan here!
BMW G 310 R, G 310 GS BS6 bikes launched in India; price starts at Rs 2.45 lakh; check booking amount BMW G 310 R, G 310 GS BS6 bikes launched in India; price starts at Rs 2.45 lakh; check booking amount
BMW India commences pre-launch bookings of 2 Series Gran Coupe BMW India commences pre-launch bookings of 2 Series Gran Coupe

LATEST NEWS

Tata Consumer share price: Sharekhan maintains Buy rating on Tata Consumer with a revised price target of Rs 740

IRCTC Share price: Dolat Capital initiates coverage on IRCTC share with target of Rs 2650

Successful! Indian rocket PSLV puts Brazil's Amazonia-1 satellite into orbit

LPG cylinder price today: Cooking gas gets costlier by Rs 25, second hike in four days—check new prices

PUBG Mobile Lite Season 22 Update: Check release date, timings, APK download link and MORE!

HDFC Securities highlights that the next lower support on Nifty to be watched is 14335

Tech analysis on Big Bull Rakesh Jhunjhunwala stocks: Tata Motors, Titan, Lupin and Escorts

Sovereign Gold Bonds Latest News: Looking for cheaper Gold? Here is your opportunity? Know here how to OPTIMISE gains

7th Pay Commission: These central government jobs offering salary up to Rs 1,77,500 | Check details

Yes Bank Share price today: Technical and Fundamental Analysis I Investec cuts target price to Rs 19

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved