BMW India aims to sell 70,000 cars per year by 2020

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The German luxury car major BMW is the top luxury car seller in India leaving behind Mercedes Benz and Audi, its two rivals from Germany. Now according to a report in Live Mint, after selling 7,000 cars in the first six months of this fiscal, BMW India aims to sell 70,000 cars per year by 2020.

The report quoted Andreas Schaaf, president of the Indian unit of Germany’s Bayerische Motoren Werke AG (BMW) as saying “The luxury car market is set to increase 10 times to 150,000 units. Considering that, we aim to have a 30-40 percent market share in the segment. With this kind of growth, we also aim to make India a part of the top 10 markets for BMW globally.” Some 15,000 luxury cars were sold in India in 2010, and 20,000 units are expected to sell this year.

It was reported that BMW India pipped rival Mercedes Benz India Ltd for the second year in a row in 2010 to emerge as the market leader in the segment, with a 40 percent market share. Schaaf said BMW India will introduce its small car, the Mini, by next year. It is likely to be priced above Rs.25 lakh. “We are in the process of evaluating which version is to be launched in India from the entire Mini family,” Schaaf said, according to the report.

Read more: BMW eying to sell 70,000 cars by 2020 in Indian market | WheelsUnplugged
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