Unprecedented Growth in Luxury EV Segment and Strong Performance Across Models
Gurugram – In a landmark achievement, BMW Group India has reported its highest-ever half-yearly car sales, delivering an impressive performance from January to June 2024. The group sold 7,098 cars (BMW and MINI) and 3,614 motorcycles (BMW Motorrad). This includes 6,734 BMW units and 364 MINI units, marking a significant milestone in the luxury car market.
A Robust Increase in Sales
BMW Group India witnessed a +21% increase in car sales (BMW and MINI) compared to the same period last year. This surge was driven by high demand for their sports activity vehicles, luxury class, and electric cars. Vikram Pawah, President of BMW Group India, emphasized the company’s commitment to excellence, stating, “In 2024, BMW Group India is making great strides in implementing its strategy by achieving new heights in business performance and customer delight. We have accomplished the highest ever half-yearly car sales and continuously maintained leadership in the luxury electric car segment. The strong affinity for our vehicles is driven by our competitive edge in exclusive mobility paired with unmistakable driving pleasure and best-in-class innovations.”
Leading the Electric Vehicle Market
BMW Group India has established itself as the frontrunner in the luxury electric vehicle (EV) market. The company sold 397 units of fully electric BMW and MINI cars in the first half of 2024. The BMW i7 emerged as the best-selling BMW EV, highlighting the increasing preference for sustainable mobility among luxury consumers.
Significantly, BMW Group India became the first luxury car manufacturer in the country to surpass 2,000 EV deliveries, with the BMW iX being the most popular luxury EV, boasting over 1,000 units sold to date. With a diverse range of six EVs available in India – BMW i7, BMW iX, BMW i5, BMW i4, BMW iX1, and MINI SE – the company is set to expand further with the launch of the MINI Countryman E and the BMW CE 04, the first electric two-wheeler by BMW Motorrad India, in July.
Growth in Luxury Class and Sports Activity Vehicles
BMW’s Luxury Class, which includes the BMW 7 Series, BMW i7, BMW X7, and BMW XM, saw a significant growth of +17%, contributing 18% to total sales. The BMW X7 stood out as the highest-selling model in this category.
Sports Activity Vehicles (SAVs) played a crucial role in BMW’s success, contributing 54% to sales and achieving a solid growth of +24%. The BMW X1 was the most popular SAV, accounting for approximately 19% of total sales, while the BMW 3 Series remained the top-selling BMW sedan with a 17% share.
Customer-Centric Financial Solutions
BMW and MINI 360° finance product from BMW India Financial Services continues to offer great value and peace of mind to customers. With attractive low monthly instalments, assured buy-back, flexible end-of-term options, and an opportunity to upgrade to a new car, this product has proven to be a significant draw, with 7 out of 10 cars financed by BMW India Financial Services through BMW and MINI 360°.
BMW Group India: A Legacy of Excellence
Since its inception in 2007, BMW Group India has firmly established itself in the premium sector of the Indian automobile market. The company’s operations encompass a manufacturing plant in Chennai, a parts warehouse in Pune, a training centre in Gurgaon NCR, and a comprehensive dealer network across major metropolitan centres in the country.
MINI has carved out its niche as a premium small car brand since its launch in January 2012, and BMW Motorrad commenced operations in April 2017, further expanding the brand’s footprint in India.
BMW Group India now boasts over 80 touchpoints nationwide, setting high benchmarks in service quality and customer satisfaction. The innovative RetailNext concept has transformed the dealer network, focusing on customer-centricity, flexibility, sustainability, and a premium experience through new processes, digital tools, and roles that seamlessly blend physical and digital experiences.
Financial Services for Premium Clientele
BMW India Financial Services, a Non-Banking Finance Company (NBFC), began operations in 2010, offering Retail Finance, Commercial Finance, and Insurance Solutions. These services provide significant value to BMW’s premium clientele, delivering exclusive and flexible financial solutions tailored to their needs.
With its comprehensive range of products and services, BMW Group India continues to set new standards in the luxury automotive market, achieving remarkable growth and maintaining its leadership in the electric vehicle segment.
