Mumbai, Oct. 15 -- German luxury carmaker's local unit, BMW India Pvt Ltd is witnessing a strong demand for pre-owned cars, a top company executive told Mint.

"We did see that earlier during the financial crisis and now during this ongoing pandemic, the demand for pre-owned luxury cars has grown much faster," Vikram Pawah, president, BMW Group India said.

He was talking on the sidelines of the BMW 2 Series Gran Coupe launch on Thursday. The new 2 Series, which was launched in the price range of Rs.39.30 lakh to Rs.41.40 lakh, aims to tap demand from the younger buyers while capitalizing on the festive momentum.

For luxury carmakers, pre-owned segment is a strategic opportunity to add first time or new customers into their brand umbrell...