German luxury car maker BMW has introduced new variants of its 5 Series sedan priced in the range of Rs 36.9 lakh and Rs 46.8 lakh as it looks to strengthen its presence in the country and compete with arch rival Mercedes Benz, who too launched new variants of the E Class some time back.
The new variants, BMW 520d, 530d and 530d Highline powered by diesel engines, will be additions to its existing petrol variants BMW 525i and BMW 530i.
“The BMW 5 Series is in the luxury Business Class car segment, and it is our goal to continue providing our customers in India with the highest standards of all-round quality, safety, and perfection to ensure the highest levels of comfort and luxury”, BMW India President Peter Kronschnabl said.
The company which started assembling cars in India last year had sold about 1,400 units and is targeting to sell 2,000 units this year.
It had increased production capacity of its Chennai plant from 1,700 units to 3,000 units per year on a single shift basis with an additional investment of Rs 3 crore. It had made an initial investment of Rs 110 crore.