BMW sees strong growth in BEVs – soon one in five models will be electric
The BMW Group significantly increased the global deliveries of fully electric models with 376,183 sold vehicles in 2023, putting it nearly on par with volume manufacturer Volkswagen, whose core brand recently reported 394,000 globally sold BEVs. This marks a sales growth of +74.4% compared to the previous year. In the fourth quarter, the group delivered 129,316 fully electric vehicles to customers (+47.7%). Throughout 2023, the group’s sales of fully electric vehicles grew significantly more than the overall market for fully electric vehicles. The company points to an offering of 18 fully electric models in the key segments. On this basis, it is anticipated that 2024 will see every fifth new car from the company with a fully electric drivetrain, with this figure rising to every fourth newly delivered vehicle by 2025.
“We continue to see high demand for our fully electric products and are aiming for sales of more than half a million fully electric vehicles in 2024 based on our strong, cross-brand product portfolio,” says Jochen Goller.
However, in relation to total sales, the electric share is still small despite strong growth. With 2,253,835 vehicles delivered worldwide last year, the BMW brand achieved a growth of +7.3% compared to the previous year, setting a new record. The core brand was able to maintain its leading position in the global premium segment in 2023 as well. BMW itself sold 330,596 units in 2023 (+92.2%). In the fourth quarter, 113,458 fully electric BMW vehicles were delivered (+55.4%). The models from the upper price segment, such as the BMW 7 Series and the BMW X7, enjoyed strong demand in 2023. Central sales drivers were also the fully electric models, particularly the BMW iX1 and the BMW i4. Additionally, the BMW X1, the 3 Series, and the BMW X3 were especially well received by customers last year. With the launch of the fully electric BMW i5 in 2023, the BMW Group now offers a fully electric model in each of its major segments. This offering was further complemented by the fully electric BMW iX2. In 2024, the first fully electric touring model will make its premiere in the BMW 5 Series.
Light and Shadow: M Series - Performance Brand with a Record
Flip side of the coin: With 202,530 Performance and High-Performance automobiles sold, BMW M GmbH also reached a new record in its over 50-year history, achieving a 14.3% increase compared to the previous year. In addition to the successful market launch of the High-Performance models M2, XM, and M3 Touring, the fully electric BMW i4 M50 also significantly contributed, remaining the best-selling BMW M automobile like the previous year. The manufacturer sees this as a prime example of the brand's transformation towards electromobility. With the BMW i5 M60 and the BMW i7 M70, the portfolio of battery electric vehicles in the upper class and luxury segment has been expanded.
Strong BEV Growth at MINI
The MINI brand sold 295,474 (+0.9%) vehicles last year. Here too, the all-electric MINI SE, introduced in 2020, was the bestseller, increasing its sales by 3.5% to 45,261 vehicles. The Cooper SE Cabrio was sold out in most markets within a few weeks, with a limited edition of 999 units. This means that all-electric vehicles account for 15.3% of MINI sales. Over the course of 2024, the new MINI family will be rolled out, with the all-electric new Cooper SE and Cooper E being joined by the two all-electric models Countryman SE and E. However, both will also continue to be available with combustion engines. The new Aceman, a compact 5-seater crossover that has not yet been revealed, will come as a purely electric model.
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