What BMW has in store for Indian buyers in 2023
The year 2022 was phenomenal for BMW in India with car sales up 35% compared to 2021. The company wants to continue the momentum this year too and is eyeing double-digit growth. To fulfill its goals, the brand will introduce 22 products on our shores this year, including EVs. This tally will also include new as well as facelifted models. Here are more details.
Why does this story matter?
- BMW is on a mission to increase its sales in India this year and EVs will play an important role in this.
- The company anticipates good demand for its vehicles here but supply chain constraints may play spoilsport.
- Nonetheless, the firm is counting on its premium cars as well as motorcycles to draw the attention of potential customers.
A brief look at the sales figures
According to BMW Group India president Vikram Pawah, between December 2022 and January 2023, the firm launched eight products, including cars and bikes. This resulted in an order pipeline of 4,500 bikes and 5,500 cars. Out of the 5,500 orders for cars, 11% belonged to EVs. The demand for EVs is only likely to get stronger. Notably, in 2022, BMW retailed 11,981 cars.
What are BMW's plans for 2023?
BMW expects 2023 to be its best year in terms of sales and hopes that EVs will contribute roughly 15% of the total orders from the four-wheeler segment. The brand will launch three bikes and 19 cars (including petrol, diesel, and all-electric models) in India this year. The company will introduce the vehicles here at regular intervals and is also bullish about premium cars.
'Demand for premium cars on the rise'
Pawah also expressed his stand on the viability of premium cars in India. The top boss said, "Demand for luxury cars continues to be very strong in India. We are not seeing any dampening of the demand. Other countries in the world might be facing other challenges but we think India will pass very strongly in this space."
BMW will have 12 EVs globally by 2023-end
BMW's Indian arm is looking at double-digit growth when it comes to sales. However, the expected figures will be shared by end of 2023. Meanwhile, by year-end, the company will have 12 EVs in its global portfolio. Some of these zero-emission cars will be brought here based on the demand and will help the brand cement its position in the country's fast-growing EV space.