In pics/price: the BMW X1 SUV comes to India

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While the petrol option will be available for Rs 22 lakh (ex-showroom, all-India), the diesel variant will have two options priced at Rs 23.9 lakh and Rs 29.9 lakh (ex-showroom, all-India), respectively, the company said.

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At present BMW's 3 Series and the 5 Series sedans are its largest selling models.

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In the Jan-Nov period, while 3 Series sold 2,220 units,the 5 series sold 2,030 units. The X1 will be assembled at the company's Chennai plant, which also assembles the 3 series and 5 series sedans.

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Asked if the company would be able to maintain its number one position in the Indian luxury car market, Schaaf said: "We will do utmost to maintain the position. This year we have grown at 60 per cent and we are optimistic of carrying forward the momentum in the next year also."

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According to the latest Society of Indian Automobile Manufacturers figures, BMW sold 5,345 units compared to 5,109 units sold by Mercedes Benz during Jan-Nov period this year.