“You’ve got such a buffer, it feels like you can only keep it, or you can lose it. And it’s his to lose,” Russell said on Thursday.

BMW Group India has overtaken Mercedes-Benz in the first quarter of 2026, signaling a shift in India’s luxury car market. While BMW led Q1 with higher registrations and strong EV growth, Mercedes-Benz retained its dominance for the full FY26, highlighting an increasingly competitive landscape driven by new launches