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BMW estimates one-fourth of its sales in India will come from EVs
BMW estimates one-fourth of its sales in India will come from EVs
Published On: 18 July 2023
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BMW estimates that one-fourth of its sales in India will come from EVs. BMW EV sales will usher in revolutionary transformation in India. Premium vehicle demand from customers is still quite high. BMW ships all of its electric cars to India.
BMW, the German luxury carmaker, expects electric vehicles to account for one-fourth of its domestic sales in the coming years.
BMW India sold 5,867 vehicle units in the six months ending June 30, representing a 5% rise over the same period last year. During this time, the BMW EV sales increased 11X.
Also, top-end models like XM, X7, i7, 7 series saw strong demand, with volumes increasing to 128% in the first half of the year.
Vikram Pawah, president and CEO of BMW Group India, stated that the business has had a strong reaction to the BMW EVs Sales in the Indian market and has planned multiple releases to strengthen its leadership position in this rapidly growing field.
Overall, client demand in the premium vehicle market remains high, according to Pawah. "In the first half, we received 8,000 car orders." Our best quarter to date. With supplies improving, our sales increased by 32% in May and June. "I think the second half of the year will be better’’ Pawah said.
Pawah stated that investigations are being conducted to determine the viability of assembling electric automobiles in the country. A final decision will be made soon. BMW now imports all electric vehicles to India.
According to Pawah, the potential for luxury carmakers in India is promising. "The Indian economy is resilient," he noted, "and there is no fear of recession among buyers here." The macroeconomic indications are encouraging. The high-end vehicle market is expanding rapidly and currently accounts for one-fifth of our sales. Furthermore, new models like the X1 are attracting first-time customers, boosting the luxury vehicle market," he added, adding that these factors indicate a good momentum persisting in the industry in the medium term.
