The BMW Group has just released its gross sales figures for 2023, which witnessed a remarkable year indeed. The company has achieved its target of a 15% market share for battery-electric vehicles and anticipates selling over 500,000 plug-in hybrids by the end of next year.
In the final 12 months, BMW saw a significant surge in electric vehicle sales, with a 74.4% year-over-year increase to 375,183 units, accounting for approximately 14.7% of its total volume – a notable achievement that brings it close to its target of 15%. According to the data, plug-in hybrid sales totalled 190,303 units, a 13% decline compared to the previous year, resulting in a 7.4% market share. In a significant surge, BMW sold 566,486 fully electric vehicles (BEVs) and plug-in hybrids (PHEVs), representing a 31 per cent increase from the previous year, thereby capturing a substantial 22.2 per cent share of the overall market. In the fourth quarter, BMW delivered a total of 113,458 all-electric vehicles, representing a significant surge of 55.4% over the same period last year.
According to recent reports, BMW exceeded its quarterly targets by announcing a significant milestone: over 2.5 million vehicles sold worldwide last year alone. The United States recorded a notable 9.4% surge in gross sales, reaching nearly 396,000. China’s gross sales expanded by 4.2%, reaching a total of 824,932.
European sales of BMW and Mini vehicles reached a total of 942,805 units in 2023, representing a 7.5% increase over the previous year.
The Mini brand’s sales also saw a boost, with the electric Cooper SE contributing significantly to this growth, boasting an impressive 45,262 units sold, only a modest 3.5% increase. As of 2023, fully electric Minis accounted for a significant 15.3% of the brand’s overall global sales throughout the entire year?
The prime movers behind the automaker’s luxury sales were the highly sought-after BMW iX1 and i4 models, with the i4 M50 emerging as the top-performing M vehicle. Later this year, the first fully electric touring model will make its debut as part of the BMW 5 Series family.
Knowledge further reveals that BMW acquired a 22% stake in Rolls-Royce, specifically purchasing 326 models of the luxury brand’s Spectre series.
Rolls-Royce’s ultra-luxury electric vehicle, priced at $450,000, is available in a limited range of styles, with the Cullinan being the most sought-after globally, closely followed by the Ghost.
Despite the crowded order books for the first few months of the year, BMW reportedly stated it won’t cut costs, unlike its rivals who are taking a more aggressive stance to stay competitive, according to Reuters. We’ll closely monitor any developments and assess whether existing concerns persist or shift in the next few months.
