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PressClub Asia · Article.

BMW Group Asia achieves record-breaking sales results in 2023.

Significant milestones for key markets in the region.

Corporate Finance, Facts, Figures
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BMW Group

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Singapore. The BMW Group Asia office based in Singapore recorded its highest ever sales volume across the region with multiple records for individual markets. The 2023 year-on-year growth figures (regional) are as follows:

  • BMW: +18%
  • BMW luxury class: +21%
  • BMW M: +85%
  • BMW BEV: +257%
  • MINI BEV: +174%

 

“The demand for BMW and MINI in Southeast Asia is growing at a fast pace, and we are delighted to see such amazing numbers in 2023,” said Lars Nielsen, Managing Director, BMW Group Asia. “With Vietnam and Indonesia achieving 50% and 38% growth in BMW sales year-on-year respectively, we are confident that we will continue to expand our growing footprint in the region.”

 

Locally, the 2023 Land Transport Authority (LTA) figures show that BMW was:

  • The second bestselling premium brand with an increase of 2.1% segment share year-on-year to 31.5%.
  • The third bestselling electric vehicle (EV) brand with EVs making up 23% of total BMW sales.
  • The third bestselling brand overall.

 

“Singapore is an important market for us and serves two key purposes. One, it is a lighthouse for the region, guiding the importer markets under our charge. Second, it is a regional home to various corporate functions including, Financial Services, IT and Treasury. Our strong performance in 2023 coupled with Singapore’s crucial role in our business strategy give us the edge in today’s ever-changing landscape,” added Nielsen.    

 

The company kicked off 2024 with four new launches (BMW iX1, BMW X1 M35i xDrive, BMW X2, BMW i5 M60 xDrive) in January at the Singapore Motorshow and will continue to introduce more BMW i and BMW M models as part of its ongoing product offensive throughout the rest of the year.

 

Established in 1985, BMW Group Asia is the regional hub overseeing the East Asia region comprising 14 markets including: Bangladesh, Brunei, Cambodia, Guam, Indonesia, Laos, Myanmar, Nepal, New Caledonia, Philippines, Singapore, Sri Lanka, Tahiti, and Vietnam.

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