PUNE: BMW, India’s second biggest luxury car maker, on Monday said sales of its top end vehicles, which it calls the luxury class, priced over Rs 1.50 crore were growing over 100 per cent with a waiting period running into over four months.
“In the first half of this year (Jan-June), our luxury class vehicles surged 128 per cent compared to the same period last year,” Vikram Pawah, President at BMW Group India told Financial Chronicle in an interview.
He said significantly, the top end cars, comprising 7 Series, i7, X7 and XM models, accounted for 20 per cent of its total sales.
“The growing economy, the rising millionaire and billionaire club, increasing disposable income and fascinating feature filled luxury cars are driving this growth in the country,” Pawah pointed out.
He also said along with the top end vehicles, sales of the entry level car models such as BMW X1 SUV were also expanding.
“The BMW X1 is our largest-selling model accounting for almost a fifth of our total sales volumes, driving the SUV contribution to 50 per cent of the total sales in January to June of 2023.
BMW India also achieved a major milestone, clocking 5 per cent year-on-year growth in total sales of its cars at 5,867 units in the first half of 2023, marking its highest-ever half yearly sales.
In the first half of 2023, the group sold 5,476 units of BMW branded vehicles and 391 units of MINI, its highest ever half-yearly sales in India.
BMW India, the market leader with 50 per cent market share in electric vehicles in India, also witnessed fast traction in this segment selling its EV models such as the i7, iX, i4 and MINI SE like hot cakes.
“We sold over 500 EVs in the first half which is 46 per cent more than what we sold in the entire year last year...We are the absolute leaders in the premium electric vehicles segment,” Pawah said.
The company also had a record over 8,000 orders during the Jan-June period.
