BMW India has set its sights on a major shift in its electric vehicle (EV) strategy, aiming to double its EV penetration from the current 7% to 15% by 2025. This ambitious target comes on the heels of a stellar sales performance in 2024, as the German luxury automaker continues to lead the premium car market in India.
Contents
- 1 Best-Ever Sales and Growing EV Demand
- 2 Electric iX1 and First-Time Buyers Fuel Growth
- 3 BMW’s Electric Vision: Doubling EV Sales by 2025
- 4 What’s Driving the Surge? Product Line-up and Infrastructure
- 5 Pushing for a ‘Green Tax’ Structure
- 6 Luxury Experience Meets Sustainability: Retail.NEXT
- 7 What Lies Ahead for BMW India?
Best-Ever Sales and Growing EV Demand
BMW Group India has experienced its best-ever year-to-date car sales in 2024, boasting a 10% growth in the first nine months alone. With a total of 10,556 cars (BMW and MINI) and 5,638 BMW Motorrad motorcycles delivered, BMW is riding high on the wave of consumer demand for luxury and electric vehicles alike.
A significant factor driving this success is the growing popularity of BMW’s electric models. The company delivered 725 electric vehicles in the first nine months of 2024, contributing to its strong hold on the luxury EV market. BMW now commands a 50% share of India’s luxury EV segment—a figure that’s only expected to grow with the company’s renewed focus on expanding its EV portfolio.
Electric iX1 and First-Time Buyers Fuel Growth
Interestingly, more than 60% of buyers of BMW’s electric models, including the iX1 and X1, are first-time luxury buyers. This indicates a strong shift in the market, where consumers are increasingly seeing EVs not just as eco-friendly options but as a status symbol in the premium car segment.
In particular, the BMW i7 has been a standout in the Indian market, accounting for 40% of 7 Series sales. The 7 Series alone makes up 17% of BMW India’s total revenue, showcasing the increasing importance of electric models in the company’s overall strategy.
BMW’s Electric Vision: Doubling EV Sales by 2025
BMW India’s President, Vikram Pawah, is confident about the company’s EV future. “We aim to reach 15% EV penetration by next year, depending on market conditions,” he said, noting that BMW is well-positioned to maintain or even increase its 50% market share in the luxury EV segment. With the right market momentum, BMW is on track to double its EV sales by 2025.
What’s Driving the Surge? Product Line-up and Infrastructure
One of the key reasons behind BMW’s confidence in achieving this ambitious target is its strong product lineup and expanding EV infrastructure. Currently, BMW offers seven electric models in the Indian market, and the company has 10-12 new product launches planned for next year. While it’s not yet clear how many of these will be EVs, it’s evident that electric models will play a crucial role in BMW’s future portfolio.
Additionally, BMW is investing heavily in building a comprehensive network of charging stations across India. The company aims to address one of the biggest concerns for EV buyers—range anxiety—by installing 250 fast-charging destination chargers by the end of 2024. These chargers will be strategically placed at key locations, including home charging solutions, dealer networks, and popular destinations, making it easier than ever for BMW EV owners to stay charged on the go.
Pushing for a ‘Green Tax’ Structure
BMW is also pushing for a ‘green tax’ structure in India, which would incentivize consumers to opt for EVs by offering tax benefits based on a vehicle’s emission levels. Vikram Pawah has been vocal about this issue, calling for a green goods and services tax (GST) that would lower taxes on electric and hybrid vehicles, making them more affordable for consumers.
“In an ideal situation, we should have a green tax regime—the greener the car, the lower the tax,” Pawah said. “This would not only align with BMW’s commitment to sustainability but also help India meet its carbon-neutral goals.”
Luxury Experience Meets Sustainability: Retail.NEXT
Beyond EVs, BMW India is focusing on expanding its luxury market share by launching the Infinity Cars’ Retail.NEXT showroom in Mumbai, which will house all three of BMW’s iconic brands—BMW, MINI, and Motorrad—under one roof. This new showroom concept offers a lavish, lounge-like experience, providing customers with a more immersive luxury experience.
This Mumbai showroom marks the beginning of a nationwide rollout, with plans to upgrade all 56 BMW dealerships in India to the Retail.NEXT format by 2026. This significant transformation will cost BMW an estimated Rs 365 crore over the next three years.
What Lies Ahead for BMW India?
With an aggressive strategy to double its EV penetration, coupled with strong sales growth, BMW India is well on its way to dominating the luxury electric vehicle market in India. As the company continues to innovate and expand its offerings, consumers can look forward to a wider range of electric models, enhanced infrastructure, and a seamless luxury experience.
As we move into 2025, BMW’s roadmap is clear: EVs are the future, and BMW India is leading the charge—literally.
Whether you’re a first-time luxury buyer or a loyal BMW enthusiast, the company’s electrifying plans for the future are sure to keep you excited for what’s coming next.
Final Thoughts: BMW’s Green Drive in India
BMW India’s vision for a greener, more sustainable future is crystal clear. With ambitious plans to double its EV sales and make EV ownership more convenient, the luxury automaker is not just meeting the demand for electric cars, it’s setting new standards in the luxury automotive industry. If you’re in the market for a luxury EV, BMW’s innovative models and growing infrastructure make them a strong contender for your next vehicle.
Keep an eye out for BMW’s upcoming releases and see how the future of luxury meets sustainability!
