German vehicle manufacturer BMW has announced to improve its production capacity at its Chennai plant. BMW India President Peter Kronschnabl has said that Indian auto market is developing remarkably by these years.
For the year 2010, the company is eying to get a double digit growth figure with a minimum sales volume of 4,000 vehicles. Therefore the company is planning to manufacture more from its Chennai plant so that the supply can catch the demand in the market.
Now the BMW Chennai plant has a capacity of 3,000 units per annum. Last year BMW has sold 3,619 units of luxury cars as compared to 3,247 units of its major rival Mercedes.
Kronschnabl has also informed that BMW is having an excellent market share of 41% in the premium segment of cars in India. It was around 9% in 2006. In between these three and half years the firm has performed reasonably good to capture such a commanding market share.
Moreover, he has said that BMW is going to invest more on its plants and working to enhance the capacity and soon there will be an official announcement on this issue.