German luxury carmaker launched the latest seventh generation of their executive 5-series sedan. This is the third generation of the car to be officially offered in India since BMW began operations in 2007. Speaking at the launch Vikram Pawah, the recently appointed President of BMW India said that this new car would be the cornerstone of BMW’s growth strategy in India.
The new car has been launched with three diesel and one petrol variant with post-GST ex-showroom all-India prices ranging from Rs 49.9 lakh to BMW launches new 5 series61.3 lakh. It features some very innovative new technologies for this segment, including a smart key. The 5-series competes against the Mercedes-Benz E-Class that was recently launched in a long wheelbase variant, the Audi A6 and the Jaguar XF.
Since beginning operations a decade ago, BMW has sold 66,000 vehicles in India and the 5-series has been a best-seller accounting for thirty per cent of the carmakers volumes. However, Pawah admitted that India is still a small market for luxury vehicles. But it remains a market with growth potential, with BMW clocking 3533 units of sales in India in 2017 till May, a growth of eight per cent. Just for comparison, BMW sold over 310,000 vehicles in China in 2016. But Pawah believes that following a few years of sustained economic growth, the market for luxury cars in India will explode.