BMW Group Stays On Track For Success In 2022: Maintains No. 1 Position In Global Premium Segment, Doubles Electric Sales

The BMW Group significantly accelerated its ramp-up of electromobility once more in 2022. As previously announced, the BMW Group was able to more than double its BEV sales from 2021 (+107.7%) with a total of 215,755 fully-electric BMW and MINI vehicles delivered to customers. A major milestone was reached when the BMW Group handed over its 500,000th fully-electric vehicle to its new owner towards the end of last year.

“Our strong product line-up is the best response to a challenging environment – and enabled us to more than double our sales of fully-electric vehicles again in 2022,” said Pieter Nota, member of the Board of Management of BMW AG responsible for Customer, Brands, Sales. “We are confident we can build on this success in 2023, as we continue to see particularly high order intake for our fully-electric models,” Nota added.

The BMW Group delivered a total of 2,399,636 BMW, MINI and Rolls-Royce vehicles to customers worldwide in 2022 (-4.8%); a year in which all industries faced headwinds from supply bottlenecks, China’s pandemic lockdowns and the war in Ukraine. The main impact was felt in the first six months of the year, with deliveries down compared to the previous year. Sales increasingly picked up in the second half of 2022. In the fourth quarter, the BMW Group reported significant sales growth of +10.6%, with 651,798 vehicles delivered to customers.

The BMW Group is optimistic about the year ahead. “We will maintain our course for profitable growth in 2023. The clear focus will be on continuing to ramp up electromobility. The next milestone for 2023 is for 15% of our total sales to come from fully-electric vehicles. With the launch of the BMW i5 later this year, we are taking another important step on the road to electrifying our model lineup,” according to Nota.

The future of the BMW Group is electric, circular and digital. One highlight on the road to the NEUE KLASSE was presented at the CES in Las Vegas last week: BMW i Vision Dee represents the BMW Group’s vision of the future digital experience, both inside and outside the vehicle. The BMW Group will provide further insights and glimpses of the revolutionary vehicle concept of the NEUE KLASSE over the course of 2023.

At the same time, the company is pushing forward with further digitalisation of sales and marketing. In future, the BMW Group will rely on direct sales in 24 European markets, with agents acting as sales representatives – this creates the necessary conditions for a seamless transition between the online and offline customer experience. The clear aim of the new agency model is to enhance customer satisfaction and the premium brand experience and to reach out to new, online-savvy customer target groups. The BMW Group’s new agency model will also create price transparency and ensure customers experience the same, consistent offering across all sales channels. Conditions will be put in place this year that will allow MINI to start in 2024, with BMW to follow in 2026. Implementation will be in close cooperation with retail partners.

The My BMW/MINI app is a core element of the sales realignment. With its many features and intuitive user interface, it guides users through the industry’s best customer experience. The My BMW/MINI app serves as the interface for personalised customer dialogue, with about two million users in around 50 markets every single day.

BMW brand maintains No.1 position in global premium segment

The BMW brand sold a total of 2,100,692 units (-5.1%) worldwide last year and maintains its No. 1 position in the global premium segment. The BMW brand also saw strong growth in electrified vehicles. Sales of electrified vehicles (incl. plug-in hybrids) for the full year were up +35.6% on the previous year, at 372,956 vehicles.

The brand's attractive product portfolio is proving extremely popular with customers. This is reflected in high new orders for models like the BMW X1, iX1*, i4, iX and i7* models. Later this year, the BMW Group will expand its electric lineup with the BMW i5.

BMW M marks 50th anniversary with record year

Despite the challenges of supply bottlenecks, BMW M GmbH ended its anniversary year with a new all-time high. BMW M reported growth of +8.4% compared to the previous year, with the sale of 177,257 units. At the same time, BMW M made substantial progress with electrification of its product portfolio. The launch of the first two fully-electrified BMW M Performance models, the i4 M50* and the iX M60*, the very first electrified high-performance model, the BMW XM*, and the new M240i Coupé* contributed greatly to this successful year-end. The new edition of the BMW M2 and the recently-released BMW M3 Touring also made a major contribution to sales growth last year.

In parallel with these new additions to the product lineup, BMW M also saw continuing strong demand in its 50th anniversary year for its top high-performance derivatives, the M3 and M4, and its long-established X models. As a result, the outlook for 2023 is very positive for BMW M GmbH, with the promise of further record results to come.

MINI Electric* remains best-selling MINI model variant

The premium automotive brand MINI sold 292,923 units last year (-3.0%). Sales of electrified MINI models developed positively: The number of electrified MINI models sold (incl. plug-in hybrids) climbed +14.3% to 60,839 vehicles and therefore accounted for around 21% of total MINI sales worldwide in 2022.

The fully-electric MINI Cooper SE* remained the brand’s best-selling model variant in 2022. A total of 43,744 MINI Cooper SE*s were sold worldwide last year – an increase of +25.5% compared to the previous year.

2023 will be a very important year for MINI. The brand is celebrating 110 years of automotive production at its main plant in Oxford and will be unveiling the first two fully-electric models of the new MINI family.

Rolls-Royce Motor Cars reported highest sales in its 118-year history

In the year in which Rolls-Royce Motor Cars unveiled Spectre, the world’s first ultra-luxury electric super coupé, the company also reported the highest sales in its 118-year history, with 6,021 motor cars delivered to customers worldwide (+7.8%). Many regions achieved their highest-ever sales.

Each of those cars was Bespoke: made to the precise wishes of the client, down to the very last detail. The value generated by the marque’s unrivalled Bespoke offering was higher than ever before, with clients now paying around half a million Euros on average for their unique Rolls-Royce.

Global demand remains buoyant across the entire product portfolio, led by Cullinan and Ghost - the order bank across all models stretches far into 2023 with very strong pre-orders for the new all-electric Spectre, following a highly successful world premiere in October. The exceptionally positive client reaction to Spectre comes as the marque prepares to build only fully-electric cars by the end of 2030.

BMW Motorrad posts highest sales in company’s history

With a total of 202,895 motorcycles and scooters delivered to customers – an increase of +4.4% year-on-year - , BMW Motorrad reported its highest sales in the company’s history. The Europe, Americas and Asia regions, in particular, all posted new sales highs and made a vital contribution to BMW Motorrad’s record sales. The brand’s compelling lineup, with successful products that shape their respective segments, and the market introduction of popular new models, like the fully-electric BMW CE 04, were strong factors in the successful result for 2022.

BMW & MINI sales in the regions/markets

The BMW Group delivered a total of 791,985 BMW and MINI vehicles to customers (?6.4%%) in China last year. 199,112 vehicles were sold in the fourth quarter – an increase of +12.7%.

BMW and MINI sales in the US between January and December totalled 361,892 units (-1.3%). Sales developed positively in the fourth quarter: BMW Group deliveries were up +11.1% year-on-year, reaching 112,057 units.

In Europe, the BMW Group sold a total of 877,369 BMW and MINI vehicles in 2022 (?7.5%). In the fourth quarter, the company delivered 247,551 units to customers. This represents an increase of +10.9%.

In Germany, 252,087 BMW and MINI vehicles were registered in the full year.

The delivery figures reported in this press release are provisional and may change up until the BMW Group Report 2022 is published. Notes on how delivery figures are prepared can be found in the BMW Group Report 2021 on p. 97.

*Fuel consumption and emissions data:

MINI Cooper SE: Power consumption in kWh/100 km combined: 17.6-15.3 WLTP, 16.9-14.9 NEDC.

BMW iX1 xDrive30: Power consumption in kWh/100 km combined: 18.1-16.8 WLTP.

BMW i7 xDrive60: Power consumption in kWh/100 km combined: 19.6-18.4 WLTP.

BMW i4 M50: Power consumption in kWh/100 km combined: 22.5-18.1 WLTP.

BMW iX M60: Power consumption in kWh/100 km combined: 24.7-21.9 WLTP.

BMW XM: Fuel consumption in l/100 km combined: 1.6-1.5 WLTP; Power consumption in kWh/100 km combined: 30.1-28.9 WLTP; CO2 emissions in g/km combined: 36-33 WLTP.

BMW M240i Coupé: Fuel consumption in l/100 km combined: 8.5-7.8 WLTP; CO2 emissions in g/km combined: 192-177 WLTP.

47 Differently Abled Persons Enjoy Sea Outing At Goa Festival, Thanks To Drishti Marine Lifesavers

In a unique initiative, as many as 47 differently abled persons, who were delegates at the recently concluded ‘Purple Fest’, got an opportunity of a lifetime to wade into the sea off Panaji’s popular Miramar beach, with the help of Drishti Marine’s trained lifeguards.  

The "Purple Fest: Celebrating Diversity," organized by the Goa government’s State Commissioner for Persons with Disabilities in Goa, drew 5000 delegates from across India. The three-day festival was aimed at encouraging people to overcome personal stereotypes and creating an environment that educates people about the disabled community and their abilities, while also respecting and celebrating diversity and inclusivity. 

Among the plethora of events held in the capital, Panaji, one event "Fun at the Beach" was supervised by Drishti Marine, Goa’s state appointed lifesaving and rescue organization.  

Drishti's lifeguards (also referred to as lifesavers) oversaw the event, assisting the delegates in taking a brief, but memorable dip in the sea off Miramar beach.  

Miramar Beach was specially outfitted with a customized ramp for the festival, allowing delegates in wheelchairs to visit the shore. The delegates were then transferred to specially modified wheelchairs with inflatable wheels. The special wheelchairs were supplied by a Mumbai-based company, Seedee Wheelchairs. Two lifesavers escorted each delegate into the water, where they were free to enjoy the waves and cool sea water.  

Speaking about the unique event, Navin Awasthi, Operations Head at Drishti Marine, says “Drishti is in collaboration with the State Commissioner for Persons with Disabilities to oversee the comfort of the various delegates from across India at the beach. We have welcomed delegates from Delhi, Chennai, Mumbai, Bengaluru and so on. The tyres of the specially modified wheelchairs have adequate buoyancy to float in the water. The lifesavers helped the individuals wade into the water, giving them an opportunity to feel the sea and its joys for themselves.”  

Pooja, a delegate from Delhi who has been in a wheelchair for ten years, shared her experience in the waters of Miramar. “I’ve had a really enjoyable time being able to experience water in the manner I have. I felt free and very much alive,” she said.   

For the duration of the festival, the Drishti lifesavers assisted forty-seven delegates to wade into the shallow end of the sea. The delegates were from various Indian states and from various walks of life. The event drew both children and adults. Doctors, dentists, and software engineers were among the attendees.      

FADA Releases December’22 Vehicle Retail Data for the State of Karnataka

The Federation of Automobile Dealers Associations (FADA) released Vehicle Retail Data for December’22 for the State of Karnataka.  

December’22 Retails 

Commenting on how December’22 performed, FADA Karnataka State Chairperson, Mr Dharma Teja G said, “Sales across all categories except 2 wheelers have been very robust across all categories in Karnataka for Dec 22. Despite being end of the year month, the demand has been strong with Passenger cars and 3 wheelers leading the pack. All categories have grown with 3W, PV, Tractor and CV growing by 80%, 36%, 15%, and 16% respectively.”  

GO FIRST Apologizes As 50 Passengers Stranded For Flight G8 116, From Bengaluru To Delhi

As 50 Passengers Stranded For Flight G8 116, From Bengaluru To Delhi, GO First statement remarks, "We sincerely apologize for the inconvenience caused to the passengers due to an inadvertent oversight in the reconciliation of flight G8 116, from Bengaluru to Delhi, " said GO FIRST Spokesperson.

He said that the passengers were accommodated on alternate airlines to Delhi and onward to other destinations.

We deeply appreciate and value your patience for bearing with us. In line with our philosophy of customer centricity, the airline has decided to offer all affected passengers one free ticket for travel on any domestic sector in the next 12 months.

The airline has initiated an inquiry into the incident and the matter is being investigated.

All concerned staff off the roaster till the inquiry is going on, he concludes.

FIIB’s 8th Research Conference To Touch Upon “Humanizing Businesses For A Better World Of Work''

~The prominent conference will incorporate thesis presentations, case competitions, editor's meetings, and much more~

Continuing its legacy of serving as a distinguished platform for addressing contemporary challenges, the 8th edition of the Fortune Institute of International Business (FIIB)'s research conference will witness extensive brainstorming on the theme,'' “Humanizing Businesses for a Better World of Work.” 

Speaking on the theme Prof. Radhika Shrivastava, FIIB had this to say – “The fundamental transitions in the post pandemic world present challenges for organizational decision makers and scholars of management like never before, and forces us to reimagine and reinvent the future organizational structures, workplaces and the workforce”.

The ambitious conference has been designed in line with the existing volatile times, particularly after the Covid-19 pandemic ravaged the global economies and supply chain.

FIIB's 8th Research Conference Has Been Uniquely Categorized In Four Subsequent Events Including-:

* Research Grant Competition (RGC, 14th January, 2023): The competition will come as an unprecedented opportunity for researchers to introduce their research ideas and bag awards and recognition.

* Katastasi: Case Writing Competition (19th January, 2023): This case study competition will underline business problems that can be utilized for teaching-learning in management classes or by organizations for transitioning towards a sustainable business model.

* Research Clinic & Doctoral Consortium (RCDC, 2nd and 3rd February 2023): The third edition of the Research Clinic & Doctoral Consortium (RCDC) 2023 is designed to facilitate scholars to examine their ongoing research and garner productive feedback. The scholars will also receive a chance to network with highly proficient researchers with similar research interests.

* FIIB Research Conference (FRC, 2nd and 3rd March 2023): The finale will include holistic discussions to identify the strategies to humanize businesses and sustainable business development across global economies. The participating experts will also evaluate the existing and forthcoming policy challenges for businesses in the ongoing times of volatility and disruption.

FIIB's 8th research conference will be navigated by globally acclaimed management researchers and practitioners like-:

* Prof Jacqueline Eastman from Florida State University

* Prof Jochen Wirtz from National University, Singapore

* Prof Malcolm Higgs from Birmingham City University Business School

* Prof M S Balaji from Rennes School of Business

* Prof Radhika Shrivastava and Prof Kokil Jain from FIIB

“The 8th edition of FIIB's research conference will focus on effective solutions and roadmaps for work in the post-Covid-19 era. Bringing in unique elements of workshops, case competitions, and keynote addresses by top level managers, the conference will offer a significant opportunity for knowledge sharing with researchers, industry leaders, and students” said Prof. Malcolm Higgs.

''FRC2023 is a sincere attempt by FIIB to bring together scholars who study and inform management, as well as practitioners who practice management to deliberate on proactive solutions and roadmaps for navigating the overwhelming new world of work.  Besides offering a remarkable platform to network with the experts, the conference will also furnish the chance to win numerous prizes across 25 categories,'' adds Dr. Kokil Jain, Faculty FIIB.

The conference will also include papers from both the practice and research sides in the form of Perspective paper submissions and Research paper submissions respectively.

For more information about FIIB and the Research Conference,  visit: www.fiib.edu.in/frc

Plain Gold Jewellery Exports Witness Strong Growth Post India-UAE CEPA

* Gross Exports of gems & jewellery witnessed a growth of 6.28% to ?227534.50 crores in April-Dec 2022

* Plain Gold Jewellery Grew 20.98% To ? 24242.91 Crores In 9MFY23

FTAs with UAE and recently with Australia is working in favour of gem & jewellery exports from India. Post the India-UAE CEPA, India’s Plain Gold Jewellery exports for the period April – December 2022 (9MFY2023), grew 20.98% to ?24242.91 crores. For December 2022, the total gross export of Plain Gold Jewellery grew 21.31% to ?2,369.74 crores (10.97% in dollar terms to US$ 287.46 million) as compared to ?1,953.46 crores (US$ 259.05 million) for the same period last year.

For the cumulative fiscal year-to-date period of April – December 2022, the overall gross exports of gems & jewellery witnessed a growth of 6.28% to ?227,534.50 crores (declined 0.73% in dollar terms to US$ 28,608.22 million) as compared to ?214,087.94 crores (US$ 28,819.88 million) for the same period last year.

In December 2022, the overall gem & jewellery exports witnessed a decline of 11.25% to ?19,432.88 crores (declined 18.90% in dollar terms to $2,356.70 million) as compared to ?21,896.46 crores (US$ 2,905.79 million) for the same period last year.

Mr. Vipul Shah, Chairman, GJEPC, said, “The overall exports of gem & jewellery during April-December 2022 show positive trend but December export figures reflect the global headwinds faced by the gem & jewellery industry in terms of  inflation and talk of downturn in USA. However, it is to the credit and enterprise of the Indian gem & jewellery exporters that they have been able to perform even in this challenging scenario. The commissioning of India-UAE CEPA has resultied in exponential growth in exports of plain gold jewellery to make up for the gap in exports to key markets such as the U.S. and Hong Kong. Overall exports for 9MFY23 (April to December) show positive growth of 6.28% in rupee terms. Plain gold jewellery exports have witnessed positive double digit exports growth of around 21% in both December 2022 as well as the 9MFY23 period.”

For the period of April – December 2022, the overall gross exports of Cut & Polished diamonds (CPDs) declined 1.24% to ?132,075.47 crores (fell 7.67% in dollar terms to US$ 16,625.45 million) as compared to ?133,737.22 crores (US$ 18,006.79 million) for the same period last year.

The Ukraine-Russia conflict has started to affect the Cut & Polished Diamond exports  that has  witnessed 40% decline in rough diamond import from Russia in six months from March 2022.  The diminishing imports in the first 6 months of this fiscal year has resulted in overall decline in CPD and overall gem & Jewellery exports in the month of December . The zero CoVID policy an  d the recent withdrawal of the same has also affected negatively the consumer demand of diamond jewellery in China. 

In December 2022, the overall gross export of Cut & Polished diamonds declined 21.50% to ?10,472.92 crores (declined 28.25 % in dollar terms to US$ 1,270.36 million) as compared to ?13,341.66 crores (US$ 1770.61 million) in December 2021.

For the period of April to December 2022, the provisional gross export of total Gold Jewellery (plain & studded) grew 14.81% to ?56,984.60 crores (7.13% in dollar terms to US$ 7,155.30 million) as compared to ?49,635.03 crores (US$ 6,678.91 million) for the same period last year.

For December 2022, the total gross export of Gold Jewellery (Plain & Studded) a decline of 4.55% to ?4,635.64 crores (declined 12.62% in dollar terms to US$ 562.48 million) as compared to ?4,856.47 crores (US$ 643.74 million) for the same period last year.

For the month of December 2022, the total gross export of all kinds of Studded Gold jewellery declined 21.95% to ?2,265.90 crores (declined 28.51% in dollar terms to US$ 275.03 million) as compared to ?2,903.01crores (US$ 384.69 million) in December 2021.

For the period of April to December 2022, provisional gross exports of all kinds of Studded Gold jewellery surged 10.63% to ? 32,741.69 crores (3.29% in dollar terms to US$ 4,113.37 million) as compared to Rs. 29596.70 crores (US$ 3,982.41 million) for the same period last year.

In the fiscal year-to-date, provisional gross export of Polished Lab-Grown Diamonds grew 54.22% to ?10,587.36 crores (44.10% in dollar terms to US$ 1,330.18 million) as compared to ?6,865.22 crores (US$ 923.11 million) for the same period last year.

During April 2022 to December 2022, provisional gross export of coloured gemstones jumped 37.42% to ?2,269.94 crores (28.39% in dollar terms to US$ 285.51 million) as compared to ?1651.78 crores (US$ 222.37 million) for the same period last year.

From April to December 2022, provisional gross export of Silver Jewellery increased 37.65% to ?20,064.61 crores (28.29% in dollar terms to US$ 2,515.45 million) as compared to ?14,576.44 crores (US$ 1,960.76 million) for the same period last year.

For the period of April 2022 to December 2022, provisional gross export of Platinum Jewellery grew 28.34% to ?211.03 crores (19.54% in dollar terms to US$ 26.49 million) as compared to ?164.43 crores (US$ 22.16 million) for same period last year.  

About The Gem and Jewellery Export Promotion Council (GJEPC)

The Gem & Jewellery Export Promotion Council (GJEPC), set up by the Ministry of Commerce, Government of India (GoI) in 1966, is one of several Export Promotion Councils (EPCs) launched by the Indian Government, to boost the country’s export thrust, when India’s post-Independence economy began making forays in the international markets. Since 1998, the GJEPC has been granted autonomous status. The GJEPC is the apex body of the gems & jewellery industry and today represents 8800 members in the sector.  With headquarters in Mumbai, GJEPC has Regional Offices in New Delhi, Kolkata, Chennai, Surat and Jaipur, all of which are major centres for the industry. It thus has a wide reach and is able to have a closer interaction with members to serve them in a direct and more meaningful manner. Over the past decades, GJEPC has emerged as one of the most active EPCs and has continuously strived to both expand its reach and depth in its promotional activities as well as widen and increase services to its members.

Mental Wellness Takes Centre Stage Among Corporate Employees: Plum’s Telehealth Data

~Over 77% of mental health consultations came from young adults aged 21 - 30~

Plum, an employee health insurance platform, has observed a 4x increase in telehealth consultation bookings from its customers over the last seven months, for issues pertaining to employees’ mental health. Analyzing its telehealth data, Plum noticed that over 77% of mental health consultation bookings came from young adults aged 21 and 30, followed by 17% from millennials aged between 31 and 40.

Catering to 2000+ corporations and start-ups and insuring over 350,000 lives spread across the country’s metro and non-metro cities, Plum’s telehealth insights also show that a whopping 60% of total consultation bookings came from women for issues ranging from anxiety, stress, depression, and, in some cases, their relationships. About 69% of total mental health consultation bookings came from metro-cities.

Dr. Seema P Nambiar, MPhil and PhD in Clinical Psychology (one of Plum's mental health experts), said, "In 2022, we saw many people going back to their old work-from-office routine. This had an impact on employees' personal lives, requiring readjustment to an earlier lifestyle leading to stress for many.  Interpersonal and relationship stress are also very common in those in their early adulthood.

Educated urban youth are more conscious and aware of their mental health, and perceive seeking help to be less stigmatising compared to older individuals. Viewed from a broader lens, I strongly believe that instead of having a band-aid approach to mental health, it would be great if corporations and start-ups could bring about structural changes that could foster a better work-life balance for employees," Dr. Nambiar added.

Saurabh Arora, co-founder and CTO of Plum, said, "Mental health was historically considered a taboo subject, and people with mental health issues were often stigmatised, shamed, and marginalised. Fortunately, in recent years, attributed to the COVID-19 pandemic, there has been a shift in attitudes and a greater awareness around mental health. We are now seeing more people coming out and voicing their struggles with mental health, and this is a positive step towards breaking down the stigma. In order to create a supportive environment for those with mental health issues, companies should create safe spaces for their employees. The increase in our consultation bookings reflects our partners' and our own collaborative efforts to foster a culture of care and understanding of mental health and ensuring that employees feel comfortable discussing their struggles.”

Plum also observed that in the recent three months, on average, a patient took a minimum of five to a maximum of 15 sessions in a month. This calls attention to companies to be wholly prepared for managing the mental wellness of their employees.  Companies can do so by making mental health consultations a mainstream employee health benefit that can be easily accessible by all employees. In addition, companies  must work towards creating a work-culture where employees learn to make their mental health a priority, and have facilities and the safe space to seek help and support for it.

About Plum:

Plum is an employee health insurance platform that provides health benefits to corporations. The company is on a mission to accelerate the adoption of health insurance in India by making employee health insurance accessible, affordable, and usable for employees. It is re-imagining the health insurance stack and accelerating the penetration of health insurance in India to 100%. Plum aims to reach a milestone of 10 million lives insured by 2025. Plum is backed by Tiger Global and Sequoia Capital.