BMW’s year in salesThe Germany- based carmaker was left behind by its fellow national competitors Volkswagen and Daimler, and came in third in terms of revenue generated in 2019. Nonetheles, after a drop in 2018 which according to the car company was due to regulatory changes BMW group saw its global revenues grow again and surpass 100 billion euros in 2019.
One of the major gamechangers for car sales across the European market in September 2018 was the introduction of the Worldwide Harmonised Light Vehicle Test procedure or the WLTP. This was a new, stricter fuel and emissions testing procedure, mandatory for all cars before they go on sale. It adversely affected car sales across Europe, as automobile manufacturers had to stop car production until they obtained certifications.
In comparison, BMW saw only a slight decline in its sales on the Indian market in 2018. The company attributed these results to India’s steady GDP growth rate and increasing number of High Net Worth Individuals as potential buyers in the future.