BMW Group India has experienced a significant surge in sales during the first quarter of 2024, reporting a 51% increase compared to the same period last year. This impressive growth is largely attributed to the robust demand for its SUVs, luxury models and electric vehicles (EVs). Notably, popular models such as the BMW X7, X3, X1, and 3 Series have been pivotal in this success, with several models reportedly sold out during this period.
Key Highlights of BMW's Q1 2024 Performance
Strong Overall Sales
BMW delivered a total of 3,510 cars across its brand, while Mini contributed an additional 170 units, and BMW Motorrad, the motorcycle division, sold 1,810 units. This collective success underscores the brand's strong appeal across different vehicle categories.
Exceptional Growth in EV Sales
The electric vehicle segment saw a notable increase, with 211 EVs sold in the first quarter, marking a growth of over 26%. The BMW i7 led the sales in this category, supported by other models like the iX, i4, iX1 and Mini Cooper SE. The upcoming launch of the BMW i5 is expected to further strengthen BMW's EV portfolio.
Luxury Class Models Excel
The BMW Luxury Class, which includes the 7 Series, i7, X7, and XM, saw remarkable growth of over 152%. These models alone accounted for 20% of the total sales, with the X7 emerging as the top-selling model in this luxury segment.
Dominance in SUV and Sedan Segments
SUVs continued to be a major sales driver for BMW contributing to 54% of the total sales and achieving a growth of over 62%. The BMW X1 was particularly popular, accounting for 20% of the quarter’s sales. Meanwhile the BMW 3 Series led the sedan category, holding a 16% share of the total sales and solidifying its position as a class-leading sedan in its segment.
Vikram Pawah, the President of BMW Group India expressed satisfaction with the quarter's results, highlighting the record-breaking performance and attributing the success to the company's strong product lineup and strategic market initiatives. This robust start to the year positions BMW well for continued success in the Indian market reinforcing its reputation as a leader in luxury automotive innovation.