Luxury car manufacturer BMW India Private Ltd is aiming to be the market leader in the premium car segment by 2010, a company official said on Wednesday.
"By 2010, we want to become a market leader in this premium car segment," BMW India, BMW Group company, President Peter Kronschnabi said.
He said that in 2006, 3,500 cars were sold in the premium segment in India, which had increased to 4,400 units in 2007.
Only two other manufacturers, DaimlerChrysler and Audi are operating in the premium segment of the country.
The premium car segment is estimated to be around 10,000 units by 2010, he added.
However, Kronschnabi said that BMW India sold 1,387 cars in the country during 2007 and the company plans to sell 2,000 units in 2008.
The company invested around Rs 110 crore in Indian operations till date. He said that the company was importing kits in completely knock down (CKD) condition after which they were assembled at its Chennai plant.
He said that 10 per cent of the components are sourced from India. "Our entry in the Indian market has been a huge success," Kronschnabi said.
The company had also increased the production capacity at its Chennai unit from 1,700 to 3,000 units per annum. Currently, BMW India is producing 2,500 units in India.