Luxury car manufacturer BMW India on Thursday launched the third generation of SUV -- X3 -- available in 'Expedition' and 'Luxury Line' design scheme priced at Rs 49.99 lakh to Rs 56.70 lakh respectively.

According to the company, the locally-produced diesel variant is "now available" at its dealerships, while the petrol powered version will be launched later in 2018.

"Practical both on and off road, the all-new BMW X3 is fully equipped for the most diverse driving demands, combining everything you need for wherever your day takes you," said BMW Group India President Vikram Pawah.

This launch comes over a month after BMW announced that it will hike prices across the range in India by 3- 5.5 percent. The updated price will be effective from April 1, 2018. 

The price increase is due to an increase in customs duty from ten percent to 15 percent, which was announced in the Union Budget 2018.