BMW maintains sales spurt in 2024, reports 51% growth in Q1 car deliveries
- BMW models like the X7, X3 and X1 are the hot favourites in India even as the company looks to further expand its all-electric offerings here.
BMW Group India on Monday informed it has opened its 2024 innings on a strong note with 3,680 car units delivered in the first quarter, up by 51 per cent from the corresponding period of last year. Additionally, 1,810 motorcycles under BMW Motorrad were sold in Q1 of this year.
The luxury car market in India has been growing and while it may still be significantly smaller than what the segment is in China and western countries, the signs remain positive. BMW says it has manged to place itself in a position of strength and after what was a record 2023 for the German manufacturer, the early signs in 2024 is heartening for it.
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What's powering BMW in India?
BMW says the robust demand for its Sports Activity Vehicles (also referred to as SUVs or Sports Utility Vehicles) has continued into 2024. Models like the BMW X7, BMW X3 and BMW X1 are sold out.
The company claims that there is also solid traction for the range-topping models like BMW 7 Series, BMW i7 and BMW X7 while in the sedan portfolio, the BMW 3 Series is sold out as well. “Our firm leadership in the luxury electric car market remains undisputed thanks to the most diverse range of products," said Vikram Pawah, President, BMW Group India. "Our key car models are at the top of their game and with significant new launches in the pipeline, we will raise the heat in luxury market."
What's charging the BMW electric portfolio?
The electric car market in India is small. The luxury electric car market is miniscule. But even in this tiny space, BMW claims to enjoy a position of strength with models like BMW i7, BMW iX, BMW i4, BMW iX1 and MINI SE on the brochure. The BMW i7, in fact, is the largest-selling luxury electric car.
Also watch: BMW iX electric SUV launched in India: First impressions
Next up on the horizon is the BMW i5 with the company promising a launch that is ‘coming soon.’
BMW or what?
A number of luxury car makers compete for the attention of India's fast-growing affluent class of buyers that are either looking for their first luxury cars or wanting to add these to their garage. BMW has a strong game in the country and competes closely with Mercedes-Benz, the current market-leader in the luxury space. In the fray is also Audi that has a lineup that consists of petrol engine-powered as well as fully-electric models. Then there are the likes of Volvo and Jaguar Land Rover.
All of these manufacturers offer an array of products - some have a more diverse portfolio than others. And interestingly, all of these brands have at least one fully-electric model in the India lineup.
The likes of BMW, Mercedes-Benz and Audi also offer high-performance car models for a niche set of buyers although these models are brought in via the import route and in limited numbers.
