BMW Group India begins Q1 2024 with 51% sales growth to 3,680 units | Company News

German luxury car maker BMW Group India announced a 51 per cent rise in sales in the first three months of the 2024 calendar year when it delivered 3,680 cars (including BMW and MINI), driven by high demand for Sports Activity Vehicles (SAVs), Luxury Class sedans, and Electric Vehicles (EVs).

Sales of BMW cars reached 3,510 units, while MINI sales reached 170 units. Popular BMW models like the X7, X3, X1, and 3 Series witnessed significant sales. In the luxury electric vehicle segment, BMW Group India maintained its leadership position with 211 units delivered in Q1 2024, achieving a 26 per cent growth. The BMW i7 emerged as the top-selling EV, while the upcoming launch of the BMW i5 is expected to further strengthen the company’s EV portfolio.

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Luxury Class cars also performed well, with a 152 per cent growth for BMW. Models like the 7 Series, X7, and the new XM played a key role in this achievement.

BMW’s SAVs remained a major contributor to sales, accounting for 54 per cent of the total and experiencing a 62 per cent growth. Locally produced SAV models, particularly the new X1, played a significant role in this performance. The BMW 3 Series continued to be the best-selling BMW sedan, maintaining a 16 per cent share in total sales.

BMW India Financial Services offers the BMW and MINI 360° finance programme to customers, which provides benefits such as low monthly instalments and flexible end-of-term options.

Earlier this year, it was reported that luxury car sales in India reached a record high of 42,731 units in 2023, up 20 per cent year-on-year. The trend is expected to continue due to rising disposable income levels. In 2024, the luxury car market is expected to cross the 50,000-unit sales mark for the first time.