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Philip Von Sahr, president BMW Group India, after the launch of its new Z4 in Pune on Thursday, said the luxury automobile business has not seen any significant growth so far in the current fiscal.
Sahr said that any growth in the sector can be expected only after April. "Post elections, the political scenario of the country would stabilise and only then can some growth be expected," he said.
BMW's new version of Z4 is priced at Rs 68.90 lakh (ex-showroom Delhi) and is available as completely built-up unit. The one with 'design pure traction package' will cost about Rs 1 lakh more.
Sahr said that the company was looking forward to introduce a new model soon. Also in the pipeline is the launch of electric cars for which Sahr says talks with the government were on. "For introduction of electric cars, major changes in infrastructure and existing policies would be necessary," he said.
Sahr mentioned that the company is going in for more localisation in terms of components for Indian markets.
By 2013-end, BMW Group will be investing Rs 390 crore in its Chennai plant. It is also looking at expanding its leasing and pre-owned vehicle business in India.
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