BMW Group India has announced a robust 21% year-on-year growth in sales for the first half of 2024. This positive performance is attributed to the surging demand for SUVs, luxury class models, and electric vehicles.
SUVs and Luxury Models Drive Growth
SUVs emerged as the star performers, contributing to 54% of total sales. The X1 secured the top spot as the best-selling BMW model, underscoring the growing preference for SUVs in the Indian luxury car market.
The luxury class, encompassing models like the 7 Series, i7, X7, and XM, witnessed a remarkable 17% growth, accounting for 18% of total sales. The X7 emerged as the best-selling model in this segment.
Electrification Gains Momentum
BMW Group India’s commitment to electric mobility is evident in its EV sales, which reached 397 units in the first half of 2024. The iX SUV emerged as the most popular electric model, with over 1,000 units sold since its launch. This achievement solidifies BMW’s position as a leader in the Indian luxury electric vehicle segment.
The 3 Series Endures
Despite the growing popularity of SUVs, the iconic 3 Series continues to hold its ground as the best-selling sedan for BMW in India. This enduring appeal highlights the model’s strong brand equity and consistent demand.
Key Takeaways
- BMW Group India’s strong performance in H1 2024 is a testament to its product strategy and customer focus.
- The SUV segment remains a key growth driver for the company.
- The demand for luxury class models is on the rise, indicating a growing appetite for premium offerings.
- BMW’s commitment to electrification is evident in its EV sales performance.
BMW Group India’s positive results reflect the overall growth in the Indian luxury car market and the company’s ability to cater to the evolving preferences of affluent customers.