In our country, there’s a fast and furious shift towards electric vehicles. The German luxury car giant, BMW, has a big scoop for us – they say every fourth vehicle in India will be electric within the next two years. That’s because the government’s doling out big economic benefits for electric vehicle production and purchase. Plus, when you crunch the numbers, electric cars look pretty enticing compared to the current fuel prices.
BMW, on a global scale, is all set to roll out a dozen electric vehicles by 2025. It’s Vikram Pawah, the head honcho of BMW Group India, who’s dishing out these electrifying details. Currently, electric vehicles account for 10% of their total sales, but they’re gunning for 15% by 2024 and a whopping 25% by 2025. Pawah tells us they’ve got a diverse portfolio of electric vehicles across various sectors.
With the soaring demand for electric vehicles, they’re planning to keep launching more products to strengthen their leadership position in this realm. Speaking of the surging demand, Pawah points out that every fourth BMW vehicle sold in India within the next two years will be electric. Right now, BMW holds a commanding 48% share in the Indian luxury electric vehicle market, leaving competitors like Volvo Cars India, Mercedes-Benz India, and Audi India in the dust.
Pawah believes BMW is geared up to introduce 12 electric vehicles worldwide by 2025. In the luxury vehicle segment, customer sentiment is rock-solid. In fact, they’ve just recorded their best monthly sales in September, with a staggering 1,439 cars zooming off the lot. They’re expecting this pace to continue, putting them on track for a record-breaking year.
In the previous calendar year, BMW marked its highest-ever sales in India, selling a total of 11,981 units. That’s a substantial increase from 2018 when they sold 10,405 cars in the Indian market. Just in the first nine months of the current calendar year, BMW India has seen a 10% growth, selling 9,580 vehicles. Between January and September 2023, their premium motorbike sales have also revved up by a whopping 26%, totaling 6,778 units.