BMW aims to offer 19 automobile models, including electrified vehicles, in India this year. The company projects that 2023 will be its strongest year for sales in India, and it targets a 15% market share for electric vehicles this year. The carmaker also intends to launch three bike models in India under the BMW Motorrad brand. The product line will contain brand-new and updated versions of current models.
BMW has been launching over 20 goods annually for the previous few years, and this year, it expects to debut 22 new products, including 19 automobiles and three bikes in India. A noteworthy change in one year is that new or updated goods will make up two-thirds of the volume. Between December 2022 and January 2023, the company launched eight new products, creating a demand and an order pipeline of 5,500 cars and 4,500 bikes.
In India, BMW offers four different electric vehicle models, making it the only company with such a wide range. 600 of the 5,500 total car needs are for the electric range, surpassing 11%, and by the end of the year, BMW hopes to reach 15%. The company anticipates 2023 to be its strongest year yet and is confident in maintaining double-digit revenue growth in India.
BMW intends to continue introducing new vehicles to preserve its dominance in the luxury auto market. The business hopes to export all 12 electric items to India depending on supply and homologation procedures. It intends to offer the most selection and maintain its lead in the electric premium market.
BMW will continue introducing petrol and diesel cars while increasing its pure battery electric range in the country. There is no indication of a downturn in India's demand for premium vehicles. BMW is optimistic about the Indian market's growth potential and anticipates strong performance in the luxury car market.
BMW's car sales in India grew by 35% in 2022 compared to the previous year. The figures will be made public at the end of the year, but the corporation is aiming for double-digit sales growth this year. While the demand side is strong, the company is having supply chain challenges, which it is handling. Nonetheless, the situation is projected to improve from June forward. 11,981 BMW vehicles were sold in India last year.
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