Click to play videoNew Delhi: There is good news for all BMW lovers. BMWs may now cost up to 40 per cent less as the first made in India Beemer rolls from its Chennai factory.
The German luxury car maker BMW on Thursday opened its first plant in the country and rolled out the '3 Series' sedan, priced at Rs 26.95 lakh (ex-showroom) onwards. The auto giant has inaugurated its India operations in Chennai.
The company will also roll out its other luxury sedan '5 Series' by May-June, which is expected to be priced between Rs 37 lakh to Rs 42 lakh across all variants from this Greenfield plant located at Chengelpet, Chennai.
The company says only the seats and the door panels are being sourced locally and that's why the prices are higher than its arch rival the Mercedes Benz whose prices start at about Rs 20 lakh.
BMW expects to sell 1200 cars in India, but within three years that number will rise to 1500.
"The Indian automobile market offers big opportunities for growth. Opening this plant underpins our long term route to profitable growth," PTI quoted BMW Chairman Executive Board Norbert Reithofer as saying.
The company has invested 20 million euros in setting up the plant, which has a capacity of 1,700 units per annum on a single shift.
Reithofer said as the company's operations in India grows bigger in future, the Chennai plant would be upgraded step by step, to even house sourcing centre for global operations and research and development facility.
Although India's contribution to the sales in Asia would be minimal initially, he said the continent was the most dynamic market offering lot of potential and the company's India plans were part of a strategy to establish itself as a force in Asia.
(With agency inputs)
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