In 2022, the Indian luxury car market saw a rebound in demand. However, the forerunner, Mercedes-Benz, was not alone in its sales growth. BMW, also from German luxury car brand, had its best-ever annual sales in India in 2022. It sold 11,981 vehicles (excluding the Mini brand of 713 units)--up 37% from a year earlier. BMW has a 34.23% share of the luxury car market in India; Mercedes and BMW, two German brands together, have an almost 80% share of the Indian luxury car market.
The company said its SUV range had seen 60 percent growth in sales in 2022, while the 3 Series, 5 Series, and 6 Series continued their strong performance. Strong demand has led to waiting times of up to six months for most of its products. The strong performance also puts BMW firmly ahead of German rival Audi, which sold 4,187 vehicles in 2022.
At the company's annual meeting, Vikram Pawah, President of BMW Group India, said, "The BMW Group is proud to have achieved its best year in India since its inception. We've been relentlessly developing our strategy, enabling us to achieve undiminished dynamic growth in the premium car and motorcycle segments. This achievement is a direct result of our unswerving commitment to offering exclusive products, providing the best service, and being deeply engaged with customers."
Below are the sales figures and market share of BMW in India over the past decade:
BMW Sales Figures & Market Share in India (2008-2022, units)
Year
Indian Luxury Car Market
BMW
Market Share
2022
35,000
11,981
34.23%
2021
27,000
8,236
30.50%
2020
19,681
6,902
35.07%
2019
35,274
9,000
25.51%
2018
40,788
10,405
25.51%
2017
38,989
9,379
24.06%
2016
33,296
7,500
22.52%
2015
36,207
6,550
18.09%
2014
31,912
6,409
20.08%
2013
30,166
7,327
24.29%
2012
28,438
9,375
32.97%
2011
24,300
9,371
38.56%
2010
15,896
6,246
39.29%
2009
8,755
3,619
41.33%
2008
7,672
2,908
37.90%
Total
413,374
115,208
27.87%
BMW's sales figures for the Indian market increased significantly in 2022. The company's products are popular with buyers in all sectors of the economy, including BMW vehicles, Mini cars, and BMW motorbikes.
BMW Motorcycles sold 7,282 units in India in 2022. This was a 40 percent increase from the previous year and the company's best annual figure to date. Of that figure, 90 percent were accounted for by sales of the G310 series (G310R/G310GS/G310RR).
As for Mini's sales in India in 2022 of 713 units, up 11.4 percent, 41 percent of the total was accounted for by the locally assembled Mini Countryman. The three-door hatch accounted for 38 percent of total sales and the convertible 21 percent.
The company estimates it is off to a strong start in 2023 and plans to launch some new products in January. The automaker will launch the new 7 Series, i7 electric vehicle, and X1 at the end of January, followed by the 3 Series coupe and X7 revamp later that month.