BMW Motorrad begins operations in India
The Dollar Business Bureau BMW Motorrad, the motorcycle subsidiary of luxury German auto major BMW, has officially begun its operations in India. Earlier, the firm was operating in the country with importers who had retail outlets in New Delhi and Mumbai. “We see a tremendous potential in this country and we are pleased to introduce BMW Motorrad as a part of the Indian subsidiary of BMW Group,” said Dimitris Raptis, Head of Region - Asia, China, Pacific, South Africa, BMW Motorrad said in a release. Presently, the two-wheeler arm of BMW is in the process of establishing a network of dealers and a team in India with Shivapada Ray already being appointed as the Head of the company. Initially, the company will set up dealerships ...
TVS eyes 15% market share in 2016-17 fiscal
The Dollar Business Bureau TVS Motor has set a target of achieving 15% market share in India’s two-wheeler segment by the 2016-17 financial year. The company plans to launch TVS Akula, a 300cc bike jointly developed with German automobile major BMW, by the end of the current fiscal. “The unit sales of two-wheelers will grow by 15% as compared to last year and we expect the market share for two wheelers to be close to 18% in the next two years,” said K N Radhakrishnan, president and CEO, TVS Motor. TVS Motor expects its 2015-16 capex to be around Rs.400 crore. “Profitability will grow and we expect the EBITDA (earnings before interest, taxes, depreciation and amortization) to grow to double digits in the next ...
BMW rolls out 50,000th car from Chennai unit
The Dollar Business Bureau Germany’s luxury car manufacturer BMW has rolled out its 50,000th car made in its Chennai plant, the company said in a statement on Thursday. The rolled out car was an all-new BMW 7 Series that was launched at the Auto Expo 2016. The model has received huge response from the luxury car enthusiasts. It boasts of futuristic technologies that include Touch Command System, Wireless Charging, Sky Lounge and Remote Control Parking. Jochen Stallkamp, Managing Director of the BMW Plant Chennai, announced the roll-out of the 50,000th car locally manufactured at BMW Plant Chennai. Each BMW that is locally made is of the same international standard followed anywhere else in the world. In order to boost the ‘Make in ...
