German luxury car manufacturer, Bayerische Motoren Werke (popularly known as BMW), launched on Monday its fourteenth offering in the Indian market — the Z4 Roadster convertible — in an attempt to maintain its lead over rival Mercedes Benz.
The two long-time rivals are battling for market share in India: BMW has topped Mercedes and stayed ahead so far this year with demand for its 3 and 5 Series (two of its least-priced models), constituting about 80 per cent of BMW’s aggregate sales, growing at 18 per cent.
BMW has launched the two-seater, petrol-driven, Z4 Roadster sDrive35i with a price tag of Rs 59 lakh (ex-showroom, excluding registration charges, tax insurance and handling charges). The Z4 is classified as a “convertible”, which means that the roof of the car can be neatly lowered into the boot of the vehicle at the touch of a button.
Speaking at the launch event, BMW India President Peter Kronschnabl said: “So far, we have sold 2,738 units, marking a growth of 18 per cent, which is much more than others.” The company also stated that it is optimistic of starting its own financial services business by May next year, provided that it gets the required licence from the regulatory authority.
