BMW Group Electric Car Sales Increased By 28% In Q1 2024
The BMW Group announced global vehicle sales of 594,671 during the first quarter of 2024, reflecting a 1.1% increase compared to the previous year. This growth was fueled by a significant rise in all-electric car sales.
In Q1, the BMW Group (comprising BMW, Mini, and Rolls-Royce) sold 82,700 battery Electric vehicles (BEVs), marking a 28% year-over-year increase. BEVs accounted for 13.9% of the total sales volume, up from 11% a year ago.
The company also celebrated reaching one million fully electric vehicles on the roads since the launch of the BMW i3 over a decade ago. However, plug-in hybrid car sales saw a decline, with only 39,916 units sold in Q1, representing a 13% decrease from the previous year.
Overall, the BMW Group sold 122,616 rechargeable cars in the last quarter, an 11% increase from the previous year, constituting 20.6% of the total sales volume.
Looking ahead, the BMW Group aims to sell over 500,000 electric vehicles in 2024, with a target of achieving a 20% EV share in the total volume. The company plans to have 18 all-electric models available in the market by the end of the year.
Most of the BMW Group’s EV sales were from the BMW brand, which saw a 40.6% year-over-year increase in sales to 78,691 units. Unfortunately, specific EV sales numbers for the Mini and Rolls-Royce brands were not provided in the report.
In 2024, the BMW Group will introduce new electric vehicle models, including the Mini Countryman, the next-generation Mini Cooper, and the all-electric Mini Aceman crossover. The company aims to continue expanding its electric vehicle lineup and increasing its market share in the coming years.
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