BMW clocks 18% growth in CY23, to launch 13 new cars
We will introduce 13 new cars this year in the Indian market, including brand new 5 Series, 6 Series, X3, Mini Countryman
Pune: German luxury car maker BMW, which clocked 18 per cent year-on-year growth to 14,172 cars last calendar year, on Thursday said it will launch 13 new cars and 6 new motorcycles this year to continue its double-digit growth achieved in the competitive Indian luxury market in the last three years.
“We will introduce 13 new cars this year in the Indian market, including brand new 5 Series, 6 Series, X3, Mini Countryman,” Vikram Pawah, President, BMW Group India told FC.
He said BMW was eyeing a strong double-digit sale this year with the demand rising for the BMW brand across the country.
“Overall, the country is running on economic stability, robust consumer sentiment which will drive and expand the luxury car segment in the country,” Pawah pointed out.
While the brand has around 1,500 pending orders at the end of December for BMW and Mini models, BMW Motorrad order bank stands at a similar number as well.
Pawah said last year 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.
While sales of Mini cars grew 22 per cent YoY to 869 units, BMW Motorrad sold 8,768 units, clocking 20 per cent YoY growth rate. Pawah said the company plans to launch six new luxury motorcycles this year.
With a five-model EV portfolio, BMW sold 1,474 EVs, clocking YoY growth of 325 per cent. “We are the No. 1 in the EV segment for the second consecutive year with over 50 per cent market share in the luxury segment as per the Vahan data,” Pawah said, adding that BMW plans to launch two new EVs in CY24.
He said the brand’s aim is to grow the premium car market as well as “grow our market share, by virtue of SAVs, sedans, performance cars, and EVs”.
“Our strategic approach will continue in CY24 to change the game and aim for profitable growth and continue the growth trifecta delivered over the last three years. We will continue to invest in the growth of the brand in India in CY24,” Pawah said.