India remains the most powerful, potential market globally
BMW India’s new president, Andreas Schaaf is analyzing various dynamics so that the company may witness a high end business in India. The newly appointed president wants the German auto company to adopt a strategy that will help sell its luxury products in the booming auto market of India. Schaaf, the automobile enthusiast got certain exposure to the auto market of India since the year 2006 when he was the head of market development for Asia, Pacific, Africa and Eastern Europe. He was there in selecting the BMW dealers for the country. Schaaf, has been with the company for the last 14 years.
Schaaf has commented that the largest luxury carmaker of the world, BMW, has got a strong foot in India as well as globally. During the time of global financial problem, even BMW, like so many other carmakers, went through a lot of problems. Its sales fell by 10.4% in 2009 when the whole world was struggling to adjust with the economic recession. Then slowly the company started progressing and the demand of its products started picking up in the emerging markets which included India also.
In the initial 8 months of 2010, the sales of BMW grew by 12.5% to 9.19 lakh vehicles. The company also intends to sell 1.4 million vehicles by the end of the year. The Indian subsidiary of BMW also proved to be very beneficial as the sales in India increased by a powerful 43% to reach 3,301 units during the initial 8 months of the present year. In comparison of the sales of its rival the Mercedes Benz, the company was able to sell more products. In fact, the German auto majors like Mercedes Benz, BMW and Audi have dominated the Indian luxury car market in India. BMW has been able to mark its presence in the Indian market even after making a late entry. Schaaf said that India might not be a big market in terms of products sold but still it remains the most powerful and potential market globally. He further added that the Indian auto market will leave all other markets behind in the coming time.
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