Amidst a backdrop of cooling demand for electric vehicles (EVs) in certain key markets, the BMW Group is celebrating a significant uptick in sales for its electric offerings. Despite challenges faced by rival brands, BMW reports a notable surge in both sales volume and consumer interest in its battery-powered models.
The BMW Group, comprising brands such as Mini and Rolls-Royce, reveals a notable 27.9 percent increase in global EV sales during the first quarter of the year compared to the same period last year. Impressively, 82,700 EVs were sold across the three months, marking a momentous milestone with the sale of its one-millionth EV since the inception of the BMW i3 in September 2013, though specifics regarding the milestone vehicle remain undisclosed.
EVs accounted for 13.9 percent of the total 594,671 vehicles sold across the BMW Group’s portfolio during the quarter, registering a modest 1.1 percent year-on-year increase. In contrast, German competitor Mercedes-Benz experienced an eight percent decline in EV sales over the same period, aligning with the brand’s quarterly sales downturn. Similarly, EV industry leader Tesla reported an 8.5 percent decrease in sales, marking its first quarterly contraction since 2020.
This surge in BMW Group’s EV sales is projected by Bloomberg to potentially increase battery-powered vehicles to constitute 20 percent of the company’s total sales by 2024, representing yet another significant milestone for the renowned manufacturer. Noteworthy models such as the i4, iX3, iX1, iX, and i7 have garnered substantial demand, with the electric i5 emerging as a particularly sought-after option.
In Australia, BMW’s EV sales for the first quarter amounted to 1423 units, with the iX1 (476 sales) and i4 (457 sales) securing positions within the top 10 in the battery-powered vehicle segment. Despite impending bans on the sale of new petrol and diesel cars in regions like Europe by 2035, BMW has refrained from establishing a concrete timeline for transitioning to an all-electric lineup globally.
Frank Weber, a member of the BMW Group’s board of management for development, elucidated the brand’s cautious approach, emphasizing the necessity for a comprehensive transition to a BEV (battery electric vehicle) economy, encompassing aspects such as green electricity, sustainable raw materials, robust charging infrastructure, and effective material recycling.
Acknowledging the fundamental structural changes required, Weber underscores the importance of a systematic and sustainable approach to embracing electric mobility.
