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Mercedes Benz maintained its first-mover advantage all these years, while BMW entered the Indian market only two years ago. It is now hoping to retain the momentum for the rest of 2009.
This year may not follow the same growth pattern as 2008, but we are bullish about the luxury car segment. We see a growth of 15-20% in BMW India this year, said company president Peter Kronschnabl.
The market will be challenging in the first half, but growth will start picking up in the second half, he said. In 2008, BMW sold 2,908 cars, as compared to 1,293 in 2007. The company manufactures the 3 and 5 series at its Chennai facility, which accounts for more than 80% of BMW sales in India.
The X3, X5, and 7 series are imported as completely built units. We do not have any intention to manufacture the X3 and X5 here, as low volumes do not permit manufacturing the models in India. We should have a minimum volume of 1,000 units to start manufacturing it here, Mr Kronschnabl said.
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