For the first time ever, BMW India raced ahead of Mercedes India in sales in the luxury cars segment in 2009 – a fact that Wilfried Aulbur, CEO, Mercedes India has ever since denied. However, BMW India is in no mood to remain complacent about its leadership position in the Indian market. Riding high on its success, BMW India has decided to start the leasing programme for individual consumers as one of its strategies in 2010 to stay ahead of its counterparts. As the competition is getting intense by the day in the luxury car segment, the company has decided to lease BMW products to individual consumers for a specified period of time. The company plans to then use the same products to be sold under its used car programme – BMW Selection with the complete warranty and service backup after the consumers return the same to the company after a year or so.
Peter Kronschabl, President, BMW India, who, for most people, is the reason behind BMW’s success in the Indian market explains, “In the last three years of operations (in India), we have realised that a large number of Indian consumers want to own a BMW, but are not willing to buy it at the ex-showroom price. We were already leasing to companies, but this is the first time we have decided to tap individual customers as well.”
Not only will this strategy help the company in building its leasing and used car programme, but will also help this German car marker to establish its brand in the country. However, with Mercedes-Benz now gearing up to get its top slot back, BMW will surely have to think out of the conventional drawing boards to keep its leadership position in the Indian market intact. Moreover, with the third German rival Audi also catching up, the Indian consumer will surely witness cut-throat competition in the Indian luxury car market in the next couple of years to come.
For more articles, Click on IIPM Article.Peter Kronschabl, President, BMW India, who, for most people, is the reason behind BMW’s success in the Indian market explains, “In the last three years of operations (in India), we have realised that a large number of Indian consumers want to own a BMW, but are not willing to buy it at the ex-showroom price. We were already leasing to companies, but this is the first time we have decided to tap individual customers as well.”
Not only will this strategy help the company in building its leasing and used car programme, but will also help this German car marker to establish its brand in the country. However, with Mercedes-Benz now gearing up to get its top slot back, BMW will surely have to think out of the conventional drawing boards to keep its leadership position in the Indian market intact. Moreover, with the third German rival Audi also catching up, the Indian consumer will surely witness cut-throat competition in the Indian luxury car market in the next couple of years to come.
Pawan Chabra
Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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