BMW simply hit a milestone after reaching the a million EV supply mark as gross sales surged within the first quarter of 2024. With EV gross sales climbing in all main areas, BMW outpaced the competitors in Q1.
BMW hits a million EV gross sales milestone in Q1 2024
“The BMW Group is constant on its BEV development path. With the supply of its one-millionth absolutely electrical car because the market launch of the BMW i3, we’ve got reached an vital milestone that confirms the attractiveness of our product portfolio,” BMW’s head of buyer, model, and gross sales, Jochen Goller, boasted on Wednesday.
The milestone comes after BMW launched the i3 as its first absolutely electrical automobile in 2013. Nissan hit the milestone final July after the primary LEAF mannequin rolled out in 2010.
BMW delivered 82,700 absolutely electrical BMW, MINI, and Rolls Royce automobiles within the first three months of the yr. That’s up 28% from final yr and sufficient to outpace rival luxurious automakers.
Total gross sales climbed barely to 584,671 in Q1 (+1.1%), however BMW’s electrical automobiles have been the principle purpose for the expansion.
BMW model delivered 78,691 absolutely electrical automobiles in Q1, up 40.6% from final yr. In keeping with BMW, the i4, iX3, iX1, iX, and i7 have been “significantly in demand.”
The brand new iX2 is garnering optimistic suggestions after hitting the market final month. BMW’s new all-electric i5 can also be seeing demand.
Outpacing rivals within the EV market
BMW’s development in Q1 was sufficient to outpace rivals Mercedes-Benz and Volkswagen. Mercedes-Benz Group bought 568,400 automobiles within the first three months of the yr, down 6% YOY.
Mercedes model EV gross sales additionally slipped 8% from final yr, with 47,500 all-electric automobiles bought in Q1. Total group EV gross sales fell to 50,500, down 9% from final yr.
Volkswagen Group Q1 deliveries have been up 3%, with 2.1 million automobiles bought. Nonetheless, VW’s EV gross sales have been additionally down, falling by 3% yr over yr to 136,400. Though EV gross sales in China climbed 91%, it was not sufficient to offset the fallout in Europe (-24%) and the US (-16%).
Regardless of the decline, VW stated orders from Western Europe “developed positively” within the first three months of the yr. Volkswagen’s EV order financial institution is at round 160,000, greater than double (+154%) from final yr.
The VW ID.4 and ID.5 have been its hottest EV fashions, with 34,600 bought in Q1, adopted by the ID.3 (26,100), Audi This fall e-tron (22,800), and Skoda Enyaq (14,000).
Within the US, VW Group bought 227,100 automobiles complete (+5% YOY), however EV gross sales fell 16% to 13,200. The automaker is launching new electrical fashions this yr together with the ID.7 Tourer, ID.Buzz with a protracted wheelbase and the extremely anticipated Porsche Macan EV.
BMW expects double-digit gross sales development in 2024, with absolutely electrical automobiles and high-end fashions as the principle drivers.
The information comes after BMW’s CFO Walter Mertl instructed the media in January, “The tipping level for combustion engines was final yr.” The monetary chief stated BMW’s order books are well-filled with plans to proceed rising EV gross sales this yr.
BMW signed a long-term partnership with electrical hypercar specialist Rimac Tech this week for next-gen EV batteries. The batteries are anticipated for use in BMW’s upcoming “Neue Klasse” automobiles.
