The brand also posted its best-ever half yearly sales and has almost equal split between sedans and SUVs.
BMW India has posted sales of 5,867 units in the first six months of 2023, thereby recording its best-ever half-yearly, quarterly as well monthly sales in June 2023. Of the 5,867 units, 391 units came from MINI, and both brands recorded year-on-year growth of 5.5 percent and 3 percent, respectively. With supply constrains still prevalent in the first four months, most of the growth have come in May and June with 32 percent combined growth year-on-year.
- Top three best-selling models were X1, 3 Series and X7
- iX was the best-selling electric vehicle
- Top-end vehicles witnessed 128 percent year-on-year growth
BMW India half yearly sales
The new X1 launched earlier this year was the brand’s best-selling model in the first six months, having contributed over 20 percent of total sales. BMW says it has received its highest-ever bookings since launch, and with a strong order pipeline, current waiting period is of 3 months.
Meanwhile, the 3 Series Gran Limousine was the brand’s best-selling sedan, having contributed close to 20 percent of total sales. In fact, contrary to market trend, BMW has witnessed equal demand for both its sedans and SUVs. Speaking to Autocar India, Vikram Pawah, President and CEO, BMW Group India, said, “In the first half of the year with 50 percent SUVs and 50 percent sedans, growth is absolutely balanced in every sub-segment of the premium space. Be it the X1 or the 7 Series, both are adding similar kind of volumes growth. The 3 Series Gran Limousine continues to be a static performance in terms of percentage of our sales”
He added, “I don’t expect to be either a sedan brand or an SUV brand. I think it will be a good balance of both”
The top end of the luxury vehicle segment comprising the 7 Series, i7, X7 and XM witnessed an astounding growth of 128 percent year-on-year. BMW says the all-electric i7, in particular, has received great response, and waiting period for these top-end vehicles are at 4 months on average.
Meanwhile at Mini, the locally produced Countryman was the best-selling model, contributing over 60 percent of overall sales. The 3-door Mini hatchback contributed to 20 percent sales while the all-electric Cooper SE constituted 14 percent sales.
50 percent share in premium EV space
Although BMW was among the last luxury carmakers to enter the luxury EV segment in India, they have absolutely stormed the space with 50 percent market share. The iX was the brand’s best-selling EV, and BMW says it has delivered 46 percent more EV in the first six months of 2023 than it has in the entire of 2022, thereby recording 11 percent year-on-year growth in the EV space.
The iX, in fact, has sold more than all other luxury EVs in the first six months combined, thereby making it the best-selling premium EV. “It has the space, it has the technology, it has the road presence. And on top of that, it is electric, which gives you 50 percent running cost,” said Pawah.
Drivers of the growth
Pawah says there are three primary factory driving this notable growth in the luxury segment – the state of the Indian economy in context of the global scenario, the improving road infrastructure facilitating the adoption of luxury vehicles and lastly, what’s specific to BMW, is good response to new launches in the market.
“The Indian economy has been quite robust, quite resilient, even in these so called uncertain times when the whole world is talking about recession. I don’t think we see that in India at all. and there are good reasons for that. The inherent strength of the Indian economy itself, I think, is strong, and also we haven’t faced inflationary conditions like the rest of the world. We haven’t gone up from 1 percent inflation rate to 7 percent suddenly you know,” said Pawah.
On the infrastructure front, Pawah said our “improving highways and road network have given us the opportunity to drive better and when you have that opportunity to drive, I’m sure you’ll choose a bigger and a safer and a better car.” He added, “You can actually drive safely at speeds of 120kph and the best way to do is with luxury cars.”