BMW Group India has announced a remarkable 51 per cent increase in sales during the first quarter of the 2024 calendar year, delivering a total of 3,680 cars, encompassing both BMW and MINI brands. The surge in sales has been primarily fueled by robust demand for Sports Activity Vehicles (SAVs), Luxury Class sedans, and Electric Vehicles (EVs).
The sales figures reflect a significant uptick in demand for BMW cars, with 3,510 units sold, alongside 170 units of MINI vehicles. Notably, popular BMW models including the X7, X3, X1, and 3 Series witnessed notable sales traction during this period.
In the burgeoning luxury electric vehicle segment, BMW Group India has fortified its leadership position, registering a 26 per cent growth with 211 units delivered in Q1 2024. The BMW i7 emerged as the top-selling EV, with anticipation building around the impending launch of the BMW i5, poised to bolster the company’s EV portfolio further.
The Luxury Class cars segment also witnessed remarkable growth, surging by 152 per cent for BMW. Key models such as the 7 Series, X7, and the new XM have played pivotal roles in driving this achievement.
BMW’s SAVs have continued to be a cornerstone of its sales performance, constituting 54 per cent of the total sales volume and experiencing a remarkable 62 per cent growth. Locally produced SAV models, notably the new X1, have significantly contributed to this success.
Furthermore, the BMW 3 Series retained its status as the best-selling BMW sedan, commanding a 16 per cent share in total sales.
To cater to customer needs, BMW India Financial Services offers the BMW and MINI 360° finance programme, providing benefits such as low monthly instalments and flexible end-of-term options.
The buoyant performance of BMW Group India comes amidst a broader trend of escalating luxury car sales in the country. In 2023, luxury car sales in India surged to a record high of 42,731 units, marking a 20 per cent year-on-year increase. This trend is expected to persist, driven by rising disposable income levels, with projections suggesting that the luxury car market could surpass the 50,000-unit sales mark for the first time in 2024.
