BMW launches 7-generation 3-series

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BMW launches 7-generation 3-series

Thursday, 22 August 2019 | PNS | Gurugram

German carmaker BMW took the wraps off the seventh-generation of their popular 3-series sports sedan in India. The latest iteration of the global bestseller will be available in two diesel and one petrol option and will be priced between Rs 41.4 lakhs to Rs 47.9 lakhs. The vehicle will be assembled at the carmakers Chennai facilities and will be the third generation of the 3-series to be assembled in India. Speaking to The Pioneer after the launch of the vehicle, Rudratej Singh, the newly-appointed Chief Executive Officer, BMW Group India said that the vehicle was a critical one for the carmaker, accounting for almost a third of annual sales, even for the outgoing model and just behind the X1 Sports-Utility Vehicle.

“India is a strategically important market for BMW. You can see that in the breadth of investments that we have made across the country from the national sales company, the factory, the training centre and in financial services. We continue to believe in the India story, but it is important to understand that the India growth story will be uniquely Indian with dips and jumps, it will be an ambiguous growth curve and I feel ‘Business Unusual’ will be ‘Business as Usual’ in India,” Singh said during an interview. BMW which had seen sales fall sharply in 1016-17 has seen a smart turnaround in sales, but Singh added that he did not want to grow through the rampant discounting that is standard for the luxury car industry. “We want to change the concepts of luxury and of of value, I do not feel the Indian consumer is as price conscious as he or she is value conscious and we want to be the brand that offers that value, so when the tide turns we can get a lion’s share of the market.”

However, Singh reiterated that the core aspect of BMW’s growth strategy was still building great products, “and this new 3-series is a prime example of that.” Adding that dealer profitability will play a big role going forward and how business models will have to change, “it should not be about trying to extract the maximum value from one service ticket but getting more service tickets. We have to grow from the 80,000 car base we have in India today and make it larger.” However, he added that currently things for the Indian economy were volatile and uncertain and it might take a time for economic growth to pick up alongside a commensurate increase in sales.  

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