The Hindu Business Line : ‘Luxury car segment will pick up after Q1 next year’

BMW India is confident that the market for luxury car segment in the country will pick up after the first quarter of next year, said Mr Peter Kronschnabl, President, BMW India Pvt Ltd.

The high-end car market in India is less affected on account of the recession experienced worldwide even though there has been a slowdown in the market here. The customers are not affected by the slowdown and only sentiments are down, which will be revived by the second quarter next year, he said during the opening of the 12th dealership of BMW in the country at Kochi on Wednesday.

He pointed out that the total number of high-end cars sold in the country was 4,300 in 2007 and 7,000 in 2008. Of this, BMW has garnered a market share of 39 per cent in the luxury car segment. “If the market comes back by next year, we will grow by 10 per cent,” he said. With its product range, the company aims to deliver 2,800 vehicles in India this year and the company had already retailed 2,703 cars till November, he added.

“The production follows the market” is our approach as part of the strategy in Asia. The years 2007 and 2008 were demanding ones for BMW India and at the same time, also marked the most successful market entry for BMW in any country recently, he added.

Dealer network

The company, he said, will further strengthen its dealer network in the second phase in tier II cities such as Ludhiana, Bhubaneshwar, Jaipur and Coimbatore by the end of 2009. The dealerships will display BMW 3 series and BMW 5 series that are produced at the plant in Chennai. Platino Classic, the dealership in Kochi, brings the BMW standards of sales and service and the same international experience as any BMW dealerships worldwide.

Mr P.P. Ashique, Managing Director of Platino Classic said that they had sold 129 cars in Kochi and is targeting 135 by December end.