The car will be available as completely built-up unit (CBU) with 3.OL diesel engine.
Briefing reporters, BMW India President Peter Kronschnabl said the firm will launch BMW X1 by the end of this year” The X1 –– BMW’s entry level luxury car –– is slated to be cheapest in its arsenal in the country.
Further, BMW also announced it will invest $50 million in setting up a standalone financing arm –– BMW Financial Services India Private Limited by the year-end. It will operate in the field of wholesale financing, retail financing and insurance. The luxury car maker is also readying itself to enter the pre-owned car market with exclusive store by end of 2010. “The pre-owned car market in the luxury segment is very fragmented and we see enough potential for a brand like BMW and therefore we are venturing into it,” Kronschnabl said.