BMW Group India Achieves Record Q1 Sales with 17% Growth
BMW Group India posts record Q1 sales at 4,567 units with 17 percent growth
The Economic Times
Image: The Economic Times
BMW Group India reported a record Q1 sales figure of 4,567 units, marking a 17% increase compared to the previous year. The surge in sales was driven by strong demand for electric vehicles and long wheelbase models, with EVs constituting 26% of total sales. The company plans to launch 27 new products by 2026.
- 01BMW Group India sold 4,567 cars in Q1 2023, a 17% increase from last year.
- 02Electric vehicles accounted for 26% of total sales, with 1,185 EVs sold, reflecting an 83% growth year-on-year.
- 03Long wheelbase models made up over 50% of sales, with 2,256 units sold.
- 04Sports activity vehicles saw a 38% growth, totaling 2,966 units sold.
- 05The company plans to launch 27 new products by 2026, expanding its market presence.
Advertisement
In-Article Ad
BMW Group India achieved its highest-ever Q1 sales, selling 4,567 cars in the first quarter of 2023, which represents a 17% growth compared to the same period last year. This growth is attributed to a robust demand for luxury electric vehicles, long wheelbase models, and sports activity vehicles. Notably, the company sold 1,185 electric vehicles, marking an impressive 83% year-on-year growth in the electric segment, which now constitutes 26% of total sales. Long wheelbase models accounted for over 50% of sales with 2,256 units sold, while sports activity vehicles recorded a 38% increase with 2,966 units sold. Looking ahead, BMW Group India plans to introduce 27 new products by 2026, including major facelifts and special editions. Hardeep Singh Brar, President and CEO of BMW Group India, emphasized the company's strong position despite facing macroeconomic challenges.
Advertisement
In-Article Ad
The growth in luxury vehicle sales, particularly electric models, indicates a shift in consumer preferences towards sustainable options, potentially influencing future automotive trends in India.
Advertisement
In-Article Ad
Reader Poll
Do you think electric vehicles will dominate the luxury car market in India?
Connecting to poll...
Read the original article
Visit the source for the complete story.