BMW India aims to sell 20,000 cars annually
What's the story
BMW Group India is targeting a major milestone of 20,000 annual car sales by 2026. The ambitious target comes on the back of years of record performance and positive consumer sentiment after GST 2.0 was implemented. Hardeep Singh Brar, the President and CEO of BMW Group India, said that the goal is achievable given the current market momentum and sustained demand for luxury vehicles.
Sales growth
Record sales in 2024 and continued momentum this year
In 2024, BMW Group India sold a record 15,721 cars, including 15,012 units of BMW and 709 units of Mini. This was an improvement over its previous record in 2023 when it sold 14,172 cars (13,303 BMW and 869 Mini). The company's growth continued into the first nine months of this year with sales reaching an impressive 11,978 cars, up by a whopping 13% year-on-year (YoY). BMW accounted for 11,510 units, while Mini delivered 468 cars of these sales.
Market dominance
Best Q3 yet and surge in bookings
The third quarter (July-September) of this year was BMW Group India's best yet with sales of 4,204 cars, up by an impressive 21% from the same period last year. Brar said that September saw a massive growth in bookings by as much as 40% YoY. He attributed this surge to lower GST rates, which have boosted demand across price segments, especially in the entry-level luxury range.
EV expansion
Brar emphasizes need for sustained EV growth
BMW Group India's electric car portfolio includes the BMW i7, BMW iX, BMW i4, BMW iX1 LWB, and Mini Countryman E. The company also sells electric scooters such as the BMW CE 04 and CE 02. Brar stressed that maintaining the 5% GST rate for EVs and improving maintenance of the charging infrastructure are key to sustaining growth in this segment.