Thursday, May 30, 2024

2024 Luxury Car Sales Soar With Mercedes and BMW Sharing Top 2 Positions

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JLR India today reported its sales performance for the full year ended 31 March 2024. Retail sales of 4,436 units, and year-on-year growth of 81%, represent one of the best performances in the market since the company’s launch in India in 2009 and its highest in the last five years. Range Rover and Defender retail sales continued to grow with year-on-year increases of 160% and 120% respectively. The recently launched 2024 Model Year Discovery Sport and Range Rover Evoque grew by 50% and 55% year-on-year respectively. Total retail sales for the fourth quarter were 854 units, up 43% year-on-year.

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BMW Group India has posted strong business performance in the first quarter of 2024 (January – March). BMW Group India delivered 3,680 cars (BMW and MINI) and 1,810 motorcycles (BMW Motorrad). BMW sold 3,510 units and MINI 170 units. BMW Group India recorded +51% growth in car sales in Q1 (BMW + MINI), riding on high demand for its Sports Activity Vehicles, Luxury Class and Electric Vehicles. Models like the BMW X7, BMW X3, BMW X1 and BMW 3 Series were sold-out. The automaker sold a total of 14,172 units across BMW and MINI brands last year till December 2023. This makes the sales for BMW+Mini stand at 17,852 till FY 24.

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BMW Group Electric Vehicles carried forward their unabated leadership in the luxury segment in to Q1 2024 by delivering 211 units (+26%). BMW i7 claimed prime position as the largest selling EV, reflecting the growing allure of sustainable mobility in flagship segment. The most elaborate range of luxury EVs on offer – BMW i7, BMW iX, BMW i4, BMW iX1 and MINI SE – fuelled greater demand among customers. The much-awaited BMW i5 will be launched soon and will further augment the EV portfolio. BMW Luxury Class sprinted ahead of others in its segment and registered tremendous growth of +152%. The share of Luxury Class models such as BMW 7 Series, BMW i7, BMW X7 and the BMW XM contributed 20% to total sales. The BMW X7 SAV claimed the spot of the number one Luxury Class model.

BMW Sports Activity Vehicles (SAV) contributed 54% to sales and grew by +62%. A stellar role in this performance belongs to the locally produced SAV models. The new X1 was the highest selling SAV with around 20% share in sales. BMW 3 Series, the highest selling BMW sedan, dominated a 16% share in sales. It has become the class-leading executive sedan in its respective segment.

Audi India has retailed 7,027 units in FY23-24 posting an overall growth of 33%. The brand has retailed 1,046 units in Q1 2024 encountering notable challenges with sales compared to the corresponding period last year, primarily due to supply chain disruptions.

Audi Approved: plus the pre-owned car business also grew at 50% in FY23-24. In the period January to March 2024, Audi Approved: plus witnessed a robust growth of 25%. Currently operating with 26 Audi Approved: plus facilities across all major hubs in the country, the brand will continue to expand and add four more pre-owned car facilities this year.

Audi India product portfolio: Audi A4, Audi A6, Audi A8 L, Audi Q3, Audi Q3 Sportback, Audi Q5, Audi Q7, Audi Q8, Audi S5 Sportback, Audi RS5 Sportback, Audi RS Q8, Audi Q8 50 e-tron, Audi Q8 55 e-tron, Audi Q8 Sportback 50 e-tron, Audi Q8 Sportback 55 e-tron, Audi e-tron GT and Audi RS e-tron GT.

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The sales performance is the highest-ever recorded for MercedesBenz India for any month, any quarter, and fiscal.

• Mercedes-Benz achieves its best-ever quarter with record sales of 5412 units (Q1 23: 4697;+15%)
• Clocks its best-ever fiscal in India: 18,123 units sold in FY 23-24 (FY 22-23: 16,497 units; +10%)
• BEV portfolio in Q1 2024 grew by 130% y-o-y | BEV penetration increased more than 6% in Q1 24 Strong response to the EQE SUV
• Mercedes-Benz to double BEV portfolio; launch three new BEVs in remaining quarters of 2024
• 1 out of 4 cars sold by Mercedes-Benz India in Q1 2024 was a Top-End Vehicle
• TEV portfolio to get a boost with the launch of two stunning AMGs:AMG S 63 e-Performance and AMG C 63 e-Performance in Q2 2024
• Mercedes-Benz to launch ‘Speed City’ for AMG enthusiasts to hone their driving skills, coachedby AMG experts trained in Affalterbach, Germany
• Mercedes-Benz will inaugurate two world-class luxury MAR 20X outlets in key customer hubs of New Delhi and Mumbai in April 2024
• 20 New MAR 20X luxury workshops to come up in 2024, with Mercedes-Benz debuting in 10new cities with luxury MAR 20 workshops
• Strong demand for SUV portfolio comprising GLA, GLC, GLE, GLS and G-Class | SUV penetration at 60% of total sales volume in Q1 2024 | Waiting period ranges from 2 months to more than a year
• Robust sedan portfolio performance, comprising A-Class, C-Class, LWB E-Class and S-Class
Outstanding response to the outgoing LWB E-Class, which remains the highest-selling Mercedes-Benz

Mohit Soni
Mohit Sonihttps://www.thrustzone.com/
NOT A Commander, Director, Editor-In-This/ That, CEO, MD, President, Entrepreneur, etc etc. Just a first employee at Thrust Zone with a team of enthusiasts who love car and motorcycles more than anything else in the world, just like I do. Hashtag blessed

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