BMW Group wishes to surpass the market, thus it will launch 25 new products in India this year.
The manufacturer of Mini and Motorrad, which set a record for half-yearly sales from January to June of 2024, anticipates quicker growth in India’s second half thanks to a slew of new product releases that include eight Motorrad two-wheelers, two Minis, and fourteen new Beamers. There are three facelifts, over a dozen new variation debuts, and six completely new goods.
Launching four of them in the National Capital on Wednesday, Vikram Pawah, President and CEO of BMW Group India said, “We are on a product offensive. We will continue to outpace the market and help in further developing the premium luxury car market. All these new products that we have launched will help us achieve exactly what we have set out to do.”
The business unveiled the all-new Mini Cooper S and Mini Countryman Electric, the BMW Motorrad CE04, which is priced about Rs 15 lakh, and the BMW 5 series with a long wheelbase. It was also the first premium electric bike in the nation.
Between January and June 2024, BMW Group India had its highest-ever half-yearly sales of 7,098 automobiles and 3,614 motorcycles. Global cumulative sales rose by 2% to 1.09 million units during the same period.
“For us, it is all about growing, we grew our volumes by 21% across both brands in the car business, and we are consistently outpacing the market, that is the aim. With the introduction of all these new products, the second half should be even better,” reiterated Pawah.
This optimistic guidance from BMW Group India comes at a time when the overall luxury car market has also started witnessing a slowdown in growth momentum. The market continues to grow in double digit – however the rate of growth has started coming down.
The company produced nine models from its portfolio at its plant on the outskirts of Chennai. Pawah says BMW makes in India for India, and 90% of sales come from locally manufactured models with 50% local content.
The company has a manufacturing plant in Chennai, a parts warehouse in Pune, a training center in Gurgaon, and a Financial Services Arm and BMW Foundation in the country.
Since its entry in 2007, the company has sold over 1.4 lakh premium cars and over 32000 luxury two-wheelers. The Indian luxury car market is expected to hit a new peak in 2024 and is pitted to cross 50000 units in annual sales mark for the first time ever.