In addition to sales success, the brand plans to launch 14 new models locally by 2020, further bolstering SUV sales and taking advantage of a surge in luxury car sales.
Speaking with CarAdvice at the recent BMW 1 and 2 Series LCI launch, BMW Group Australia CEO Marc Werner said he is excited about BMW's future product offering.
"We are about to see the biggest product onslaught in the history of BMW, especially BMW Australia. Sometimes you need to clean house, which is what we did over the last couple of months to be ready for this big product onslaught," Werner said.
"On top of that we do have our product lifecycles with our product portfolio, which we are going through as we speak. With the renewal of this product lifecycle - starting with the X3 in particular - we will definitely see substantial growth again."
When asked about the success of key rival Mercedes-Benz, Werner insisted the brand won't sacrifice desirability for volume.
"We've grown the business by 52 per cent over the past five years, but you have to make sure you operate in the premium segment and don't overdo it and overstretch your brand. You need to still be aspirational and find the right balance between volume aspirations and desirability," Werner said.
"We are very healthily positioned, as far as that is concerned. With the product onslaught, we will see more than 14 new cars over the next three years. We are in a very good position to grow our business and we want to go for a sustainable business model."
A number of the new models will be SUVs, which currently account for 55 per cent of the brand's local sales. That number is expected to increase to around 65 per cent when the all-new X3 is launched locally in November.