BMW sees huge growth potential in India

German luxury car company BMW car is increasing its focus on India, driven by its highest-ever annual revenue in 2022 as it sees “enormous growth potential to lead the market” there due to low penetration rate. Driven by the highest number of launches ever (26) and pent-up demand arising from pandemic-induced closures, BMW India sold 35% more cars (both BMW and Mini) in 2022 with 11,981 units (of which 11,268 were BMW), making it the highest ever delivery sales in history since joining 2007.
Its two-wheeler brand BMW Motorrad also had its best-ever sales of 7,282 units, a 40% increase year-on-year. Although India is likely to overtake Japan to become the world’s third largest auto market after China and the US in 2022 with sales of more than 4.25 million units, there’s nothing worth discussing about the segment. The luxury car segment accounts for only about 1%. Of these, the number of cars will reach 3.8 million units by 2022, excluding those sold by luxury carmakers Mercedes, BMW and Volvo, according to data shared by the public agency. SIAM industry last week.

“I’m delighted that by 2022, India has become one of our fastest growing markets in terms of volume – highest sales since we entered the market in 2007 – and the growth rates for all of our brands here. Asia Pacific, Eastern Europe, Middle East and Africa in BMW Grouptold PTI.
Despite such record numbers, he said, “India is not among our top 10 markets globally. But the country has huge potential for faster, higher and higher growth and growth. become the leading market for us.” He did not give a timeline for the same.
When it comes to volumes, “India’s volumes have never been this high and neither is our optimism, stemming from the solid fundamentals of a very resilient economy, supportive policies government growth support and favorable regulatory environment,” Parain said.
To continue its record growth, BMW has lined up up to 18 debuts by 2023 across its three brands – parent brand BMW, Mini and bike brand Motorrad– Parain adds three of those times. The new launch will be electric vehicles. continues to build on its market leadership here. It already has three models on the road, making it the biggest player in the luxury EV space.
Of these, five will be brand new debuts (from BMW, 7 Series, i7 Series, X1 and M2; and R18 Transcontinental from Motorrad racing team) and four will be upgrades– all from the team BMW’s stable figure with planned launches of the X7, 3 Series Gran Limousine, X5 and M4.
He said the year will also see 9 variants launched, 6 more of which will be from the stable BMW and the rest from the Mini brand. The company started hitting the market this year with the launch of the i7 Series on January 7 with three variants including the first electric model from the platform.