BMW Q3 2024 Sales – Slow Turn, But Still On Track

BMW sales slow in Q3 2024: Not every lap is a victory lap

The company reported continued growth in car and motorcycle deliveries through 2024. From January to September, BMW sales reached 10,056 vehicles. The MINI brand contributed 500 units, for a total of 10,556 units. This is an increase of 10.19% over the same period in 2023, reflecting stable performance in India’s highly competitive luxury car market. Motorcycle deliveries reached 5,638 units, demonstrating a diversified product portfolio in both the two-wheel and four-wheel segments.

BMW Group India’s results for the third quarter of 2024 reflected an overall decline in vehicle sales of 6.87%, with a total of 3,458 units delivered. BMW sales fell 5.68% to 3,322 units. MINI delivered 136 units this quarter, a year-on-year decrease of 28.80%. BMW motorcycle sales fell by 4.12%. This was down from 2,111 units.

BMW sales fall in Q3 2024, year-to-date sales rise, two stories

Despite the decline in the third quarter, year-to-date (YTD) data from January to September 2024 shows a different trend. BMW sales increased by 11.76%, with 10,056 vehicles delivered. According to reports, MINI car sales fell by 14.09%, with 500 units delivered. Less than 582 sets. During the same period, motorcycle delivery volume dropped significantly by 16.82%, with 5,638 units sold. Overall, BMW Group India’s year-to-date vehicle sales totaled 16,194 units, a slight decrease of 1% compared to the previous year.

Electric vehicles (EV) play an important role in BMW’s product portfolio. Year to date in 2024, BMW has delivered 725 electric vehicles so far in 2024, with the BMW i7 being the best-seller. To date, total electric vehicle deliveries have exceeded 2,000 units. Popular models such as the BMW iX have sold more than 1,000 units. The launch of electric models such as the i7, i5, i4, iX and iX1 reflects BMW’s growing focus on electric vehicles in India. MINI has also launched the Countryman Electric, further expanding their electric vehicle selection.

BMW’s main force

BMW’s product portfolio remains diversified, with long-wheelbase sedans such as the 3 Series, 5 Series, and 7 Series maintaining a strong position in the luxury car segment. 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 account for 55% of BMW sales. X1 accounts for 20% of total SAV sales. The 3 Series is the best-selling sedan, accounting for 19% of the company’s sedan sales. This product diversity solidifies BMW’s position in the luxury car market.

The BMW Joy Days sales event led to strong sales of the BMW 5 Series. More than 300 units were sold during the event, and the holiday order base exceeded 600 units. Finance plans available during this period include interest rates as low as 7.75% per annum and flexible EMI options starting at Rs 49,999.

BMW India’s charging plans: Fast chargers

The company is committed to enhancing its electric vehicle charging infrastructure through a fast charging network across 51 cities. BMW also offers additional services such as free installation of home chargers and intelligent e-routing through its “Destination Charging” program. These services are designed to provide customer convenience and support wider adoption of electric vehicles in India. An extensive charging network is critical to support the needs of electric vehicles.

The focus on luxury electric vehicles, particularly the BMW i7, remains central to BMW’s strategy in India. The model has become the best-selling electric vehicle in BMW’s portfolio. Growing demand for electric vehicles and the company’s commitment to expanding its EV offerings underscore BMW’s strategic positioning in the premium electric vehicle market.

BMW’s diversified lineup: Financing and product diversity are king

BMW’s strong and diverse product portfolio and financial solutions enable the company to meet India’s needs. BMW Group India continues to make strides in the Indian luxury car market with a strong product line-up, comprehensive charging network and flexible financing options.

Vikram Pawah, President and CEO, BMW Group India, said: “BMW Group India is scaling new heights with continued strong business performance. Record-breaking vehicle deliveries from January to September this year New high, reflecting the synergy between successful strategy and unparalleled customer experience, BMW Group India is changing the game with its long wheelbase product portfolio and strong electric vehicle offensive. BMW 7 Series Long Wheelbase, BMW 3 Series. Our main models, such as the long-wheelbase and BMW X1, are in the leading position in the same class, and the demand for the new BMW 5 Series long-wheelbase is strong. Our excellent performance in all aspects such as sales, after-sales, process and customer participation makes our brand stand out. Strong appeal to existing customers and aspiring individuals who want to enjoy pure driving pleasure.”