BMW India Head Sees Softer Luxury Car Demand on Gulf Turmoil

BMW AG’s India business is seeing affluent consumers turn more cautious as conflict in the Persian Gulf weighs on sentiment and threatens to weaken local demand for luxury cars.

Many buyers are deferring high-value purchases until the global growth outlook —clouded by the US-Iran war — becomes clearer, while others are shifting to electric vehicles in anticipation of potentially steeper gasoline prices, according to Hardeep Singh Brar, president and chief executive officer of BMW’s India unit.