The Income Tax (I-T) department of the government of India has indicated that it will soon send a Rs 650 crore show-cause notice to German luxury car maker, BMW.
The company has been served with the tax notice after Department of Revenue Intelligence and the Customs Department, Chennai found that the super car manufacturer has indulged in customs duty evasion. Officials have said that that the income tax department is likely to send the show cause notice to the company within two weeks.
The Special Investigation Branch of Customs is reportedly probing whether luxury car maker BMW AG's Indian arm has evaded custom duty.
A source from the Customs department has revealed that the Indian tax authorities believe that German car maker BMW's Indian arm has evaded taxes to the tune of more than Rs 500 crore.
German luxury car maker, BMW has announced the launch of a new diesel version of its MINI Cooper D Countryman in the Indian market.
The launch of MINI Cooper D Countryman comes just days after the company said that it would start production of the Mini Countryman at its plant near Chennai in the southern Indian state of Tamil Nadu. The company might be looking to offer the model at a cheaper price in the country after beginning local production at the plant.
German premium automaker, BMW India has announced the launch of several new variants in its flagship 7 series in an event in Mumbai.
The company will offer a diesel powered variant of BMW 730Ld, which will be produced within the country at BMW Plant Chennai as well as petrol variants of BMW 740Li, BMW 750Li and the BMW 760Li, which are to be imported into the country through the CBU (Completely Built-Up Units) route. BMW 730Ld starts at a price of Rs 93 lac, while the BMW 750Li is available at Rs 1.2 crore.
German premium automaker, BMW India has announced the launch of a new 7 Series facelift sedan in the Indian market to compete better with rivals in the growing luxury car market in the country.
The company will offer a total of four variants of 2013 7 Series in the country and the range will include 1 diesel and 3 petrol models for the customers in the country. The facelift variant will come with new LED headlamps featuring BMW's signature corona rings, a new kidney grille with lesser number of slats, a new wing mirror design with indicators and a redesigned front bumper.
German luxury carmaker, BMW Group has announced that it will begin production of it's the Mini Countryman at its plant near Chennai in the southern Indian state of Tamil Nadu.
The company is planning to begin the production of the model locally just a year after it entered the Indian market. The company might be looking to offer the model at a cheaper price in the country after beginning local production at the plant. It will be first time BMW will produce the iconic British brand's cars at a plant outside of Europe.
Two-wheeler arm of German luxury automotive major, BMW Motorrad has entered into an agreement with India's fourth largest two-wheeler maker, TVS Motor Co to jointly develop motor bikes in India.
The two companies are planning to offer `Made in India' bikes in the below 500 CC segment. BMW has already signed the long term joint technical co-operation and manufacturing agreement with the Indian two-wheeler major based in Hosur, near Bangalore.
Bangalore, March 14 : Indian IT bellwether Infosys Ltd has bagged a five-year contract from German auto major BMW group to provide a range of IT services, including infrastructure management, content management and business intelligence systems.
"The five-year engagement will cover services such as maintenance and operations of BMW's web infrastructure, SAP Basis operations and its internal IT system," the global software firm said in a statement from Frankfurt Thursday.
According to reports, German automaker BMW's recent announcement of a worldwide recall of over half a million cars, due to an electrical fault which causes the engine to stall, will affect 32 cars in New Zealand.
As per the reports, the 32 BMW vehicles affected by the recall in New Zealand include a mix of 1 Series and 3 Series, from the model years of between 2007 and 2011. The vehicles identified for the recall in the country will be checked for a flawed battery connection which leads to the halting of the vehicles.
Sydney, Feb 17 : BMW is recalling almost 570,000 cars in the US and Canada to fix a flaw in a battery cable connector that can cause the engines to stall.
The recall affects the popular 3-Series sedans, wagons, convertibles and coupes from the 2007 through 2011 model years.
Also included are 1-Series coupes and convertibles from 2008 through 2012, and the Z4 sports car from 2009 through 2011, News. com. au reports.
German luxury carmaker, BMW has reportedly remained at the top of the Indian luxury car market in 2012 ahead of its German rivals, Audi and Mercedes Benz.
BMW said that it was able to sell 9,375 units during the calendar year, which is about 372 units higher the 9,003 units sold by Audi India during 2012. India's third largest luxury car maker, Mercedes-Benz recorded sales of 7,138 units during the year. BMW recorded an increase by just 4 units in 2011 and it helped the company emerge as the leader in the growing Indian market for premium cars.
Washington, Dec 27 : Luxury carmaker BMW has sold about 1.8 million vehicles in 2012, the firm's financial officer has said.
Friedrich Eichiner, told German newspaper Die Welt that the firm's goal was to increase vehicle sales in 2012 and to reach a new record in deliveries.
With about 1.8 million vehicles, the firm has achieved this, he added.
According to Fox News, in December, BMW said vehicle sales in the January-November period had increased by 10.1 percent to 1.66 million.
On Thursday, bigwig German automaker BMW launched a new version of its X6 crossover model for India; thereby fortifying its dominance - which is challenged by Mercedes-Benz and Audi - in the country's growing luxury car market.
So far as the BMW India portfolio is concerned, the newly-launched X6 is apparently the most expensive Completely Built-up (CBU) unit in India. The crossover is priced at Rs. 78.9 lakh for the xDrive40d model with a six-cylinder diesel engine; and Rs. 93.4 lakh for the top xDrive50i eight-cylinder petrol model.
The diesel version of the X6 is powered by a 2,993-cc engine; while the petrol version of the crossover is run by a 4,395-cc engine.
At the ongoing Paris Motor Show, running September 29 through October 14, a horde of new vehicles are being unveiled; with automakers vying with one another to put on display an array of new rides, ranging from some incredible concept cars to ready-for-launch production models.
According to NEWS. GNOM. ES, citing a technical service message which was sent by BMW AG to its dealers on Friday, the Germany-based automaker has found some issues with the newly-manufactured 2013 M5 and M6 performance cars; and has halted the deliveries of these vehicles, some of which will be recalled.
As per BMW's message to the dealers, there is some problem with the engine oil pump of the new 2013 models of M5 and M6; with the issue likely to result in severe damage to the engine of the cars.
According to a recent press release by the BMW Group, the Level 10 M gaming mouse – which BMW DesignworksUSA has developed jointly with Thermaltake – is being rolled out to online as well as brick-and-mortar stores since August 27.
The press release by BMW Group said that the Level 10 M gaming mouse is hitting that the shelves in US, Europe, and Asia; and that the mouse is available for $100. Though the mouse is yet to show up on Amazon, Newegg or at Best Buy, that would probably change soon.
Leading luxury carmakers Mercedes-Benz as well as its larger rivals, BMW and Audi are increasing using advanced technologies to reach out to their customers even in smaller cities in India.
Mercedes-Benz, BMW and Audi are all using iPad apps and online campaigns in order to reach customers who reside in smaller cities and towns in the country, where the companies do not have a dealership.
German luxury car maker, BMW expects the Indian premium car market to grow at its slowest pace in a decade this year due to various factors affecting the auto market in the country.
Andreas Schaaf, the managing director of BMW India cited reasons like an increase in import duty, rupee depreciation and rising petrol prices to say that the growth might remain below the 10 per cent mark this year.
German premium carmaker, BMW is planning to include Nuance's Dragon Drive! messaging service in several models soon.
The customers will be able to dictate emails and text messages using a compatible smartphone instead of locating them on their device. The service will be first launched in the 2012 BMW 7 Series in July and later in the 2012 BMW 3 Series Touring and BMW 3 Series ActiveHybrid models.
Indian two-wheeler major, TVS Motor Company has said that it might enter into a deal with , BMW Motorrad, a unit of the German premium carmaker, for sourcing technological know-how from the company.
TVS is also planning to develop high-end motorcycles under the partnership. Industry experts say that the partnership will allow TVS to create more efficient and powerful motor bikes and this will allow it to compete better with larger rivals like Hero MotoCorp Ltd and Bajaj Auto Ltd.
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