In the first half of the year, the group achieved its highest ever half-yearly sales in India, selling 5,476 units of BMW branded vehicles and 391 units of MINI.
“The luxury car market is finally growing as expected, and our growth is also driven by new models,” said BMW Group India President Vikram Pawah in an interview with PTI. He added that despite supply chain restrictions, BMW’s growth has remained strong.
Pawah highlighted that May and June were representative of their growth, as supply improved during that period. He also mentioned that the first half of the year saw a record order intake of over 8,000 orders, reflecting positive consumer sentiment and the strength of the company’s brands.
BMW’s sports activity vehicles (SAV) accounted for over 50% of total sales, with the newly launched BMW X1 contributing over 20%. Pawah also mentioned the growing popularity of BMW’s electric vehicles, stating they have over 50% market share in the premium electric vehicles segment.
The ‘luxury class’ comprising 7 Series, i7, X7, and XM contributed 20% of total sales in the first half of 2023, with the segment witnessing a growth of over 128%.
In summary, Pawah stated, “Our luxury class is growing, battery electric vehicles are growing at a fast pace, and at the entry level, X1 is performing well. The balance is good, and all segments are growing.”
Regarding the premium motorcycle business, BMW attributed its sales in the first half of the year to ‘Made in India’ models G310R, G310RR, and G310GS, which accounted for nearly 90% of total sales.
Looking ahead, Pawah expressed optimism, stating that with supplies becoming normal, they expect to have a record year. He emphasized the strong demand, a robust product line-up, and the launch of the new X5 as contributing factors.