“We have already commenced trial production of X3 at our assembly plant near Chennai. The product will reach the market by the last quarter of this year. We will launch the concept for the new X3 from September onwards,” Andreas Schaaf, president of BMW India told Financial Chronicle.
“The new X3 has been developed based on an interesting concept and it will perfectly suit conditions in India. It will bridge the gap between X1 and X5 segments,” he added but declined to give price details.
BMW is seeking to tap the growing SUV market in the country with a slew of products. X3 will come in both petrol and diesel variants. “The SUV market is growing well in India and we will be looking at big numbers in the segment with the launch of X3,” Schaaf said.
The BMW plant near Chennai started assembling the X1 SUV, both petrol and diesel variants, this year. It has been producing only 3 and 5 series models at the Chennai plant. The German carmaker has also commenced trial production of X3 after developing the supplier base for local assembly, which will help it to offer competitive pricing.
At present, X1 models are priced (ex-showroom) between Rs 22.4 lakh and Rs 30.4 lakh, while X5 models carry a price tag ranging from Rs 53.8 lakh to Rs 70.5 lakh. Since the price range of existing X3 models is Rs 41.2 lakh to Rs 42.2 lakh, the new X3 is expected to be priced at around Rs 45 lakh.
The SUV market (above Rs 25 lakh category) clocked sales of 320 units during April this year compared with 220 units in April 2010. Audi sold the highest number, 188 units, in this category with its two models Q5 and Q7 for the month, followed by Mercedes-Benz at 70 units. BMW sold 31 units with its three models (X3, X5 and X6), according to Society of Indian Automobile Manufacturers (Siam).
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