BMW will focus on niche segments and value for money to be successful in India as the customers give more importance for value rather than price
BMW is one of the fastest growing luxury manufacturers in India. The German manufacturer is working hard to retain the number one spot in luxury car segment in India after losing it to Mercedes Benz couple of years ago. BMW has managed to beat Mercedes Benz and once again took over the number one position in India in April 2018.
The group is very aggressive this year as they have already launched nine products in India with three brands – BMW, Mini and BMW Motorrad. The German manufacturer will continue the momentum going forward with another 7 launches lined up for this year from these brands.
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BMW Group India President, Vikram Pawah said that the company will focus on niche segments and value for money to be successful in India as the customers give more importance for value rather price. BMW is also expecting sales to continue from smaller cities in India as they are showing more growth than metro cities.
Currently the company has 43 dealerships across 32 cities and they will extend it to 50 cites by the end of 2019. The mobile studio on wheels which is an initiative by the company to reach across smaller cities will cover more than 50 cities soon and this will target mainly tier II and tier II cities as these cities are currently not explored by its competitors and BMW could get first mover advantage also.
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To continue the growth, BMW will also offer attractive financing schemes for customers which can make the purchase easier and they are also working on new service plans. BMW is not happy with the government policy of rising import duty for CKD components which has created a negative impact on Make in India initiative.
BMW has reached 50 percent localization and 95 percent of its sales are coming from these models. The latest product to be assembled in India was X3 which made its market debut last month. Most of the luxury manufacturers are not happy with taxation policy and a workable solution must be found by uniting government, manufacturers and suppliers.