BMW’s electrical automobiles are “profitable over prospects worldwide,” with gross sales rising by double-digits within the third quarter. With over 100,000 EVs offered over the past three months, BMW is taking market share from European rivals.
“Our fully-electric automobiles are profitable over prospects worldwide,” Jochen Goller, BMW AG board member for buyer, model, and gross sales, mentioned on Thursday.
BMW Group, together with Mini, offered 103,440 EVs within the third quarter, a rise of 10% from Q3 2023. With over 294,000 EVs offered via the primary 9 months of 2024, BMW’s electrical automobile gross sales are up 19.1% in comparison with final yr.
The BMW model accounted for 266,151 (+22.6% YOY) of its complete EV gross sales. BMW mentioned it noticed exceptionally excessive demand in Europe, together with the UK, Italy, and France.
“The BMW model captured market share in Europe and considerably outperformed the area’s complete market,” Goller defined.
In Europe, the BMW model delivered 121,844 EVs via the primary 9 months of 2024, up 35.8% in comparison with final yr. BMW’s iX1 and i4 carried the expansion.
BMW EV gross sales high 100,000 in Q3 2024
In keeping with Jato Dynamics analysis, BMW’s EV gross sales in Europe topped Tesla’s for the primary time in July 2024.
The expansion was sufficient to outperform European rival Mercedes-Benz. Mercedes offered 46,900 EVs in Q3, down 8% from the second quarter and 31% from Q3 2023. Mercedes EV gross sales are down 22% via the primary 9 months of 2024, with 148,500 items offered.
Regardless of this, BMW Group’s general gross sales fell 13% in Q3 (540,882) and had been down 4.5% (1,754,158) via September.
Gross sales in China slipped almost 30% within the third quarter (147,691), inflicting BMW to decrease its full-year 2024 gross sales steering.
Mercedes’ gross sales in China additionally slipped by double-digits from final yr as an inflow of latest, lower-priced EVs continued driving out overseas manufacturers. The corporate cited decrease demand for luxurious automobiles and an intensifying value warfare for the slowing gross sales.
