BMW India to launch SUV in a month

German luxury car maker BMW India will launch its sports utility vehicle X6 and a new model of its seven series sedan in a month’s time, shrugging off fears of an economic slowdown impacting luxury car sales in a significant way.

Priced between Rs 65 lakh and Rs 70 lakh, the X6 will be powered with a three-litre diesel engine and a 5.0 litre petrol engine. In the seven series, it will initially launch a new 750 li model priced at Rs 93.3 lakh and later a 730 ld, a diesel model that would be introduced over the next three to four months at a slightly lower price.

The company closed the last calendar year selling 2,908 units, an over 100 per cent increase from 1,387 units that it sold the previous year. It, however, declined to give its target for the current year.

“We will introduce X6 and a new seven series model by the end of the month which will be imported as a completely built unit. But we are also looking to introduce a 730 diesel model by April-May which will be priced lower,” the BMW India President, Peter Kronschnabl told Business Line.

Upbeat on India

He said that while the luxury car market began to feel the pinch by the last quarter of 2008, he was upbeat on the Indian market.

“First half of the year will be tough. But relief will come in the second half. India is not in a recession. Even after taking into consideration the slowdown, the economy is estimated to grow above 5 per cent, making it still the fastest growing economy,” Kronschnabl explained.

On the sales outlook, he stated that the company would see the trend in the first two to three months before it firms up its target. It will also increase its sales network during the year by expanding its dealership to cities such as Surat, Jaipur, Ludhiana and Coimbatore, taking the total count to 16 countrywide.