BMW enters compact luxury market with 1 Series1 min read . Updated: 03 Sep 2013, 04:23 PM IST
The launch marks the carmaker’s entry into the compact luxury car segment in India
Mumbai:BMW launched the 1 Series for the Indian market on Tuesday, marking the carmaker’s entry into the compact luxury car segment in the country.
BMW India Pvt. Ltd, the local arm of the luxury carmaker, has priced the entry level variant at Rs20,90,000. BMW has sold one million units of the 1 Series worldwide since its global launch in 2004. The model competes with Mercedes A-Class cars.
“For India, BMW 1 Series is a strategic product with which we will enter new arenas of the market," said Philipp von Sahr, president of BMW Group India. The model will help strengthen the brand in India, he added.
BMW is investing Rs210 crore at its plant in Chennai to increase capacity. The plant has the capacity to produce 14,000 cars per annum. Currently, the company assembles the 3, 5, and 7-Series and X1 models locally. The 1 Series would also be assembled locally.