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German automobile giant BMW has been aiming to expand its luxury car segment in India by 10 times over the next 10 years.
The company has recently launched its X3 vehicle priced between Rs 41.2 lakh and Rs 47.9 lakh.
BMW India President Dr. Andreas Schaaf during the launch of BMW X3 SUV in Pune stated that the luxury car sales in India have been witnessing growth and the company has been expecting a boost in the near future. He said that BMW India has been anticipating 60,000 units' sale annually by 2021 and soon they will be investing Rs 70 crores to heighten its sales.
Dr. Schaaf announced that their annual production capacity has increased since June as BMW India's only manufacturing and assembling unit in the country is located in Chennai where the production capacity has increased by
"We have expanded our production facility by starting the second shift of production. The production has been expanded to 11,000 units annually from 10,000 units", Dr .Schaaf said.
Also, in March, the company had increased its production capacity from 8, 000 to 10,000 units per year in single move.
Dr. Schaaf added that that if required the company will add another assembly line and will increase the output of the second shift by adding more production.