BMW Group India sells 11 car models, mini cars, and Motorrad motorcycles, in addition to operating a plant in Chennai, a parts warehouse in Mumbai, and a training centre in Gurugram. CEO Rudratej Singh has recently told Business Standard that sales in the next three months will decide the fate of the luxury and premium car segment for the next couple years.
Singh added: ”Overall as we see it, the segment has shrunk by between 20 per cent and 25 per cent. Last year, we sold a little over 10,000 BMW cars. We have a manufacturing capacity of around 14,000 units annually but expect to see volumes down by over 20 per cent this year.
We will see headwinds in Diwali but the next three months will be more decisive if the trend continues. It will go on to determine how sales and overall performance for our sector will perform in the next couple of years to come. The bottom line is it’s now up to the OEM to create demand”
”Almost 50 per cent of what a consumer is paying is going towards taxes. The other point is there are two categories of customers — the deeply aware purist who is all aware of global trends and understands quality at a DNA level. The other is the first-time customer who is more on the aspirational side and we see accounting for a larger consumer bucket. That’s the group we are targeting. Getting more people is key to our expansion.”
More from NEWS
According to documents filed with Companies House for the year to 31 December 2018, Dorchester Collection, whose UK portfolio includes …
California will ban the manufacture and sale of new animal fur products from 2023 after Governor Gavin Newsom signed the …