BMW Q3 2024 Sales Slows Down: Not Every Lap’s a Victory Lap
The company has reported consistent growth in car and motorcycle deliveries YTD 2024. From January to September, BMW car sales reached 10,056 units. The MINI brand contributed 500 units, leading to a combined total of 10,556 vehicles. This represents 10.19 percent increase over the same period in 2023, reflecting a steady performance in India’s competitive luxury car market. Motorcycle deliveries reached 5,638 units, showing a diverse portfolio across both two- and four-wheeled segments.
BMW Group India’s Q3 2024 performance reflected 6.87 percent overall decline in car sales, with a total of 3,458 units delivered. BMW car sales decreased by 5.68 percent, reaching 3,322 units. MINI saw a drop of 28.80 percent, delivering 136 units during the quarter. BMW’s motorcycle sales dropped by 4.12 percent. Down from 2,111 units.
BMW Q3 2024 Sales Down, YTD Up, Two Tales
Despite these declines in Q3, year-to-date (YTD) figures from January to September 2024 showed a different trend. BMW car sales rose by 11.76 percent, delivering 10,056 units. MINI car sales are reported at 14.09 percent decline with 500 units delivered. Down from 582 units. Motorcycle deliveries for the same period saw a sharper drop of 16.82 percent, with 5,638 units sold. Overall, BMW Group India’s YTD vehicle sales totalled 16,194 units, showing a slight 1 percent decline compared to the previous year.
Electric vehicles (EVs) play significant part of BMW’s portfolio. 2024 YTD, BMW delivered 725 electric vehicles YTD 2024, with the BMW i7 being the top seller. Total EV deliveries to date exceed 2,000 units. Popular models like the BMW iX have sold over 1,000 units,. Availability of electric models such as the i7, i5, i4, iX, and iX1 reflects BMW’s expanding focus on electric mobility in India. MINI has also introduced the Countryman Electric, further expanding their EV options.
BMW’s Workhorses
BMW’s product portfolio remains diverse, with long-wheelbase sedans like the 3 Series, 5 Series, and 7 Series maintaining a strong presence in the luxury class. The 7 Series and i7 models, in particular, represent the company’s continued success in the luxury segment. Sports Activity Vehicles (SAVs), such as the X1, make up 55 percent of BMW’s sales. X1 accounted for 20 percent of total SAV sales. The 3 Series is the highest-selling sedan, with a 19 percent share of the company’s sedan sales. This product diversity has solidified BMW’s position in the luxury automotive market.
BMW Joy Days, a sales initiative, resulted in strong sales for the BMW 5 Series. Over 300 units were sold during the campaign, and the festive order bank exceeds 600 units. Finance plans offered during this period included competitive interest rates as low as 7.75 percent per annum and flexible EMI options starting at Rs 49,999.
BMW India’s Charging Plan: Fast Chargers
The company is focused on enhancing its electric vehicle charging infrastructure with a fast-charging network spread across 51 cities. BMW offers additional services like complimentary home chargers with installation and smart E-routing through its “Destination Charging” programme. These services aim to provide convenience to customers and support the broader adoption of electric vehicles in India. An extensive charging network is crucial to support demand for electric mobility.
The focus on luxury electric vehicles, particularly the BMW i7, remains central to BMW’s strategy in India. This model has become the best-selling electric vehicle within BMW’s portfolio. Growing demand for electric vehicles and the company’s commitment to expanding its EV offerings highlight BMW’s strategic positioning in the premium electric mobility market.
BMW’s Diverse Lineup: Financing and Product Variety Do the Talking
BMW’s strong and diverse product portfolio, and finance solutions have positioned the company to capitalise on demand in India. With strong product lines, a comprehensive charging network, and flexible finance options, BMW Group India continues to make strides in the country’s luxury automotive market.
Vikram Pawah, President and CEO, BMW Group India said, “BMW Group India is scaling new heights with consistent and robust business results. The highest ever car deliveries during January to September this year, reflects the synergy between a successful strategy and an unparalleled customer experience. BMW Group India is changing the game with its long wheelbase product portfolio and a strong electric mobility offensive. Key models like the BMW 7 Series Long Wheelbase, BMW 3 Series Long Wheelbase and BMW X1 are leading in their segments and demand for the new BMW 5 Series Long Wheelbase is overwhelming. Excellence across the entire spectrum of sales, aftersales, processes and customer engagements set our brands apart, creating an intense pull for both existing customers and aspiring individuals who want to enjoy sheer driving pleasure.”
Source: Bike - rushlane.com
