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MUMBAI, 18 July 2023: BMW India has posted its best-ever half-yearly sales, with 5,867 units sold in the first six months of 2023. This represents year-on-year growth of 5.5 percent. The company also leads the luxury EV market in India, with a 50 percent market share.
The new X1 was the brand’s bestselling model in the first six months, with more than 20 percent of total sales. The 3 Series Gran Limousine was the bestselling sedan, with close to 20 percent of total sales.
BMW says it has received a great response to its new launches in the market, including the all-new 7 Series, the X7 facelift, and the i7 and XM. These top-end products have witnessed 128 percent growth and now contribute to 20 percent of total sales.
The company expects to sell close to 500 EVs in the first six months of this calendar year, comprising 12 percent of overall sales. It expects to breach the four-digit mark comfortably by the end of the year.
BMW India’s president and CEO, Vikram Pawah, says that there are three primary factors driving this notable growth in the luxury segment. These are:
- The state of the Indian economy in the context of the global scenario
- The improved road infrastructure encourages the use of luxury vehicles.
- The good response to new launches in the market
Pawah says that the Indian economy has been quite robust and resilient, even in these uncertain times. He also points out that the country has not faced inflationary conditions like the rest of the world.
On the infrastructure front, Pawah says that the improving highways and road network have given consumers the opportunity to drive better. This, in turn, has led to an increase in demand for luxury cars.
Finally, Pawah says that the brand has received a great response to all the products that it has launched this year so far. Indeed, he emphasises that the majority of new X1 buyers were first-time premium vehicle purchasers.
Overall, BMW India is very pleased with its performance in the first half of 2023. The company is confident that it will continue to grow in the coming months and years.
