BMW Group India clocked sales of 14,172 units in 2023, registering a strong 18 percent year-on-year (YoY) growth. The company says 2023 was a trailblazing year for all its three brands – BMW, Mini and BMW Motorrad – each recording their highest-ever sales in the Group's history in the country. In a testament to its unwavering commitment to excellence, BMW India has marked yet another milestone with a remarkable 18% surge in sales throughout the year 2023.
BMW Group India sales in 2023
While car sales under the BMW Group in 2023 were pegged at 13,303 units with an 18 percent YoY growth, Mini models went home to 869 buyers, registering a 20 percent growth. BMW Motorrad registered 8,768 units and a 20 percent YoY growth rate. The company said that Q4 CY23 (October-December 2023) was the best-ever quarter for all three brands, with BMW particularly clocking sales of 4,306 units (up 41 percent), Mini clocking 287 cars (a 54 percent growth), and BMW Motorrad selling 1,990 units (a 3 percent increase), respectively. December 2023 was also the best-ever sales month for BMW and Mini.
BMW India EV sales in 2023
With a five-model EV portfolio, the company sold 1,474 EVs, registering a substantial YoY growth of 325 percent. “We have been No. 1 in the EV segment for the second consecutive year in a row with over 50 percent market share in the luxury segment as per the Vahan data,” Vikram Pawah, president of BMW Group India, told journalists in New Delhi. While BMW Group India's EV sales stand at 10 percent of the total by the end of 2023, the company is aiming for 25 percent by 2025. “We plan to introduce two more EVs in 2024,” Pawah highlighted. Its EV portfolio includes the 3-door Mini hatchback, BMW iX1, i4, iX, and i7, with the iX being the top-selling luxury EV in India with sales of 639 units in 2023. The all-electric Mini 3-door Cooper SE hatchback went home to 239 buyers last year.
1.Market Dynamics and Economic Trends
Despite challenges brought about by the state of the world economy, India has proven resilient and has a strong car industry. BMW's sales have been greatly increased by elements such an expanding middle class, rising disposable income, and a growing preference for luxury and performance cars.
2. Strategic Model Portfolio
BMW's success is not solely attributed to chance; rather, it is a result of a well-thought-out and strategically curated model portfolio.Consumers in India have clearly become charmed with the new and updated models that boast modern design and technology. BMW is able to combine luxury, performance, and innovation in its increasingly popular X series SUVs as well as their latest versions of the 3 Series and 5 Series.
3. Focus on Electric and Hybrid Vehicles
In alignment with global automotive trends, BMW India's commitment to sustainability and environmental consciousness is evident through its emphasis on electric and hybrid vehicles. The integration of electrified options within its lineup caters not only to the environmentally conscious consumer but also aligns with the Indian government's push towards electric mobility.
4. Customer-Centric Approach
Beyond the products themselves, brand loyalty has been greatly enhanced by BMW's customer-centric strategy. BMW India has made major investments to provide a seamless ownership experience, including complete after-sales services and personalized client service at dealerships.
5. Competitive Landscape and Benchmarking
BMW established itself in a highly competitive market by regularly raising the bar and measuring itself against the best.
The Group had around 1,500 pending orders at end-2023 for BMW and Mini models; the BMW Motorrad order bank stands at a similar number. The company sees a two-three month waiting period for the all-electric i7sedan, and has confirmed the iXhas sold out.