BMW achieves significant milestone by selling more than 50,000 electric vehicles within the United States in 2024 for the first time ever. Despite a surge in electric vehicle sales overall for the year, BMW’s achievement may not be as impressive as it seems. Right here’s why.
BMW electric vehicle (EV) gross sales in the United States surpassed 50,000 units in 2024.
Last year, with an additional 13,876 absolutely electric vehicles purchased in the fall season, BMW’s electric vehicle sales surpassed 50,000 units in the United States for the first time ever?
In the United States, BMW saw a 12% year-over-year increase in electric vehicle sales, with a total of 50,981 units sold in the past year, compared to 45,417 vehicles purchased in 2023. Notably, BMW’s fourth-quarter electric vehicle (EV) sales declined by 3.5%, dropping from 5,274 units sold in the fall of 2023 to 13,876.
Despite being a pioneer in electric vehicles (EVs), BMW surprisingly reported a decline in EV sales during the fourth quarter, making it one of the few manufacturers to do so. Last week, Ford and General Motors (GM) both released their quarterly and full-year sales reports for the autumn season, as well as providing outlooks for 2024. General Motors surged ahead of its main competitor by selling over 114,400 electric vehicles last year, a whopping 50% increase from the previous year, as compared to Ford’s more modest 97,900 units sold, a 35% yearly boost.
Global car manufacturers such as Hyundai and Kia are rapidly surpassing the sales of luxury brands like BMW. South Korean automakers released a report on their US sales for the past year, as they continue to expand their electric vehicle (EV) offerings across key market segments.
As electric vehicle enthusiasts await their turn, high-end luxury players such as Lucid and Rivian are quietly siphoning off market share. Lucid reported deliveries for four consecutive quarters in 2024, culminating in a total of 10,241 electric vehicles delivered throughout the year.
While it may seem unlikely, Lucid Motors is a significant rival to BMW’s luxury electric vehicle offerings. In its final 12 months, Lucid Motors only launched one model, the highly anticipated Lucid Air. Lucid, a pioneer in electric vehicles, has announced the release of its inaugural electric SUV, dubbed the Gravity.
Rivian’s quarterly deliveries surged to a record high in 2024, following a successful recovery from supply chain disruptions. As of this fall, Rivian’s cumulative delivery total for the 2024 model year surpassed 51,600 units with an additional 14,183 vehicles handed over to customers. The electric vehicle manufacturer has recommenced production at its refurbished facility in Romeoville, Illinois, following a brief shutdown for upgrades last spring.
The impact of this development on BMW iX’s gross sales will likely be significant, potentially exceeding initial projections. Despite a 20% boost in the previous quarter, BMW iX sales plummeted 11% in 2024, with only 15,383 units sold.
BMW also markets three distinct electric vehicle models in the US market: the i4, iX3, and i7. In the final 12 months, the i4 emerged as BMW’s best-selling model, boasting an impressive sales figure of over 23,400 units. Despite this, total gross sales have only increased by a modest 3% compared to 2023’s figure of 22,583 units. BMW’s i5 model saw a remarkable surge in sales, achieving a 310% increase in 2024, although the total figure still remained modest at approximately 8,763 units sold.
Electrek’s Take
As the electric vehicle landscape continues to evolve at a rapid pace, can BMW maintain its momentum and stay ahead of the curve in 2025?
The Jeep brand is unveiling its inaugural luxury electric SUV, revolutionizing the market with a unique blend of off-road prowess and eco-friendly innovation. The automotive industry’s electric vehicle (EV) landscape is evolving rapidly as Volvo, Kia, and Hyundai unveil their flagship three-row electric sport utility vehicles (SUVs). Lucid’s Gravity is rolling out. By 2026, Rivian will finally introduce its more affordable R2 electric SUV, the smaller sibling of the popular R1 models.
BMW is poised to revolutionize the electric vehicle landscape with its anticipated 2026 arrival of the Neue Klasse, a cutting-edge class of EVs destined for US showroom floors. The Volkswagen Group’s first Neue Klasse electric vehicle (EV) came off the production line in November, marking a significant milestone as the company readies itself for an exciting future.
BMW asserts its inaugural EV series boasts “30% more range, 30% faster charging, and a 25% overall improvement in vehicle efficiency.” The first model of the BMW Neue Klasse lineup is slated to be a crossover SUV, with five additional variants set to debut by 2028.
One thing is clear: more affordable yet superior electric vehicles (EVs) will emerge soon. Keep tuned for extra.
