BMW aims to sell 2,000 cars in India in 2008-exec
KOLKATA, India, April 23 (Reuters) - BMW (BMWG.DE), the world's largest luxury car maker, has raised its manufacturing capacity in India and hopes to boost sales in the fast growing country, a senior official said on Wednesday.
The German carmaker, whose Indian unit makes 3 and 5 series BMWs with a price tag of 2.67 million rupees ($66,750) to 4.2 million rupees, aims to raise sales by 44 percent this year from 1,387 units it sold in 2007.
"We aim to deliver 2,000 vehicles to our customers in India in the year 2008," BMW's India unit president, Peter Kronschnabl, said at news conference.
BMW, which competes with European rivals DaimlerChrysler DCXGn.DE, and Volkswagen (VOWG.DE) in the premium car market in India, also sells its 7 series in India from imported kits.
The luxury car segment, defined as upward of 2.5 million rupees, is expected to more than double by 2010 from 4,400 units in 2007, he said.
The company raised annual capacity at its Indian plant to 3,000 units on a single shift basis, from 1,700 vehicles, at a cost of $750,000 in January, he said.
BMW, the maker of Rolls Royce and Mini cars, is also looking at sourcing components from India.
"We have set up a team to examine availability of forging and casting material for use in units elsewhere," Kronschnabl said.
He said there were no plans to build a second plant in India because volumes were low. ($1 = 40 rupees) (Reporting by Tamajit Pain; Editing by Ranjit Gangadharan)
