BMW Group, the luxury carmaker based in Munich, plans to launch 25 new models in India this year. This move aims to outpace the market and boost sales. BMW has already seen record sales from January to June 2024 and expects even higher growth in the second half with 14 new BMW cars, two Mini cars, and eight Motorrad motorcycles.
The new launches include six all-new products, three facelifts, and over a dozen new variants. At an event in Delhi, 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 develop the premium luxury car market.”
Among the new launches, BMW introduced India’s first luxury electric bike, the BMW Motorrad CE04, priced around Rs 15 lakh, along with a long-wheelbase BMW 5 series, the new Mini Cooper S, and the Mini Countryman Electric.
In the first half of 2024, BMW Group India sold 7,098 cars and 3,614 motorcycles, their highest-ever half-yearly sales. Global sales increased by 2% to 1.09 million units in the same period.
Pawah emphasized their growth strategy, saying, “We grew our volumes by 21% in the car business, consistently outpacing the market. With these new products, the second half should be even better.”
This positive outlook comes as the luxury car market in India shows signs of slowing growth, although it continues to grow in double digits. BMW Group India produces nine models at its Chennai plant, with 90% of sales coming from locally manufactured models containing 50% local content.
Since entering the Indian market in 2007, BMW has sold over 140,000 premium cars and more than 32,000 luxury motorcycles. The Indian luxury car market is expected to reach a new peak in 2024, potentially crossing 50,000 units in annual sales for the first time.
