HT Bureau
Guwahati, Apr 08: BMW Group India has reported a robust business performance in the first quarter of 2024, marking a significant milestone in the luxury automotive sector. The company delivered a total of 3,680 cars (comprising BMW and MINI brands) and 1,810 motorcycles (under the BMW Motorrad banner) during the period from January to March. The standout achievement for BMW Group India was the remarkable growth in car sales, which soared by an impressive 51% in Q1. This surge was primarily attributed to the soaring demand for the company’s Sports Activity Vehicles (SAVs), Luxury Class models, and Electric Vehicles (EVs). Notably, models like the BMW X7, BMW X3, BMW X1, and BMW 3 Series witnessed overwhelming demand, leading to sold-out inventories. Vikram Pawah, President, BMW Group India, expressed satisfaction with the company’s performance, stating, “BMW Group India has achieved unprecedented success in the first quarter of the year. With a remarkable growth rate of +51% in car sales, we have set new benchmarks in the luxury automotive market. Our strong presence in the luxury electric car segment remains unchallenged, thanks to our diverse range of products. Additionally, our Luxury Class models have established themselves as segment leaders. With exciting new launches on the horizon, we are poised to further elevate our position in the luxury market.”
In terms of electric vehicles, BMW Group India continued its dominance in the luxury segment, delivering 211 units in Q1, representing a 26% increase from the previous year. The BMW i7 emerged as the top-selling EV, underscoring the growing preference for sustainable mobility solutions in the flagship segment. The upcoming launch of the BMW i5 is expected to further bolster the company’s EV portfolio. The Luxury Class segment witnessed remarkable growth, with sales soaring by an impressive 152%. Models such as the BMW 7 Series, BMW i7, BMW X7, and BMW XM contributed significantly to this success, comprising 20% of total sales. The BMW X7 SAV emerged as the top-selling Luxury Class model, consolidating the company’s position in this lucrative segment. The Sports Activity Vehicles (SAVs) category also played a pivotal role in BMW Group India’s stellar performance, contributing 54% to overall sales and registering a commendable growth rate of +62%. Locally produced SAV models played a significant role in this success, with the new X1 emerging as the highest-selling SAV, capturing around 20% of total sales.
Moreover, the BMW 3 Series, renowned as the highest-selling BMW sedan, maintained its dominance in the executive sedan segment, commanding a 16% share in sales and solidifying its position as a class-leading model.
+++++++++
