BMW sales peaks for high-end and electric cars

 

BAVARIA – German carmaker BMW sold around 595,000 cars in the first quarter, 1.1% more than a year ago, with growth driven by all-electric vehicles as well as high-performance sports and luxury cars, the company announced on Wednesday.

The number of battery-powered vehicles (BEV) sold rose by almost 28% to 82,700, while sales of high-priced luxury and sports cars increased by almost 22%, according to BMW.

The Munich-based company said it was able to respond to shifting customer demand with different drive types and a range of offerings. Jochen Goller, a BMW board member who oversees sales at the company, said that strategy is proving its worth.

Sales in the European market grew by 5.5% to around 228,000, while sales in the United States rose by 1.2% to around 91,000 cars. In the Chinese market, however, deliveries fell by 3.8% to around 187,000 cars.

BMW’s Mini brand saw sales fall worldwide by 9.4% to just under 83,000 vehicles. Preparations for the launch of the new lineup of Mini vehicles are in full swing, however, according to BMW.

BMW executives are aiming for slight growth in deliveries in 2024.

Fully electric vehicles and models from the upper premium segment are expected to achieve double-digit percentage growth.

Last year, BMW sold 2.55 million cars, significantly more than ever before.

BMW will present its financial figures for the first quarter on May 8. The Annual General Meeting will follow on May 15.