The company, which clocked one of its best-ever India sales last quarter–sales increased by a fourth y-o-y to 2,815 units—has planned to launch 19 models in the four-wheeler segment this year.
BMW Group India sold 8,876 passenger vehicles (BMW and MINI) in 2021.
“First quarter was fantastic for us. We are going to launch 24 products across all three brands (BMW, MINI, Motorrad). Demand is there,” BMW Group India president Vikram Pawah told ET. “While the final growth numbers will depend on the business environment, which is dynamic, I expect what we did in Q1 will continue.”
Pawah said there are several headwinds globally on account of the coronavirus pandemic, the global shortage of semiconductors, and the geopolitical situation in Ukraine.
“Overall, the logistics and supply situation around the world is quite challenging. We have been handling it much better than others. We are flexible and fast, adapting to these crisis situations”, he said, adding that the company is sitting on an order book of 2,500 units.
In India, the demand for electric vehicles has been robust and BMW India could sell the allocated batches of SUV iX and an all-electric MINI. Its third EV–luxury sedan i4–will hit the road next month.
Globally, BMW is set to introduce 25 electric vehicles by 2023. Nearly half of them–the full electric ones–can be launched in India, said Pawah, provided the current incentives continue and adequate charging infrastructure is set up across the country.
“When we launched our electric vehicles, they were pre-sold. Some of them are our traditional customers who want to move on to a new technology,” said Pawah on the sidelines of the India Art Fair. “In addition to that, there are buyers who are looking at the premium space because of the electric products.”
Pawah said the adoption of any new technology in the premium space is much faster. Electric mobility will pick up in the segment. However, the pace of growth will depend on the development of charging infrastructure and a stable policy framework.
At present, the government levies GST on electric vehicles at a reduced rate of 5%. The tax concession needs to be continued to encourage consumers to transition, and for automakers to plan more products.
In the premium motorcycle segment, BMW Group recently expanded the scope of its alliance with TVS Motor Company into joint development, manufacturing and exports of electric vehicles from India, in a bid to penetrate deeper into the fast-growing electric vehicle space. The project is focused on urban mobility and aimed at a younger customer group. The first product on the platform is likely to be ready within the next two years.
Pawah declined to share specifics of future products but said BMW Motorrad is a success story, having become the first manufacturers in the premium motorcycle segment to cross sales of 5,000 units in 2021. BMW will launch five new products under the Motorrad brand to support growth momentum this year.
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