Luxury car maker BMW India does not see growth returning to the market anytime before mid 2014. BMW had good growth last year but no big growth could be expected this year, BMW Group India president, Philipp von Sahr, said.
In a year when competitor, Mercedes-Benz, has raced past to the number one slot, the BMW chief said, “We do not want to be No. 1 at any price. Unlike competition, BMW will not enter the market with discounted cars. We are a premium brand selling a premium product at premium price. If you give discounts you are out of the market.”
He acknowledged that it was a fiercely competitive market but they were prepared to meet challenges. When others were offering discounts BMW had increased prices and now others are following, Sahr said. He believes this will pay off in the long run. Last year BMW sold 9,375 BMW and 302 Mini models but refused to disclose the year to date sales for this year. Sahr was speaking at the launch of the new BMW Z4 roadster in India. The company is confident of growth in the mid to the long term and is investing R390 crore by the year end at the Chennai plant.