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BMW nearly doubles its all-electric sales in 2023

Jennifer Mossalgue

Jan 10, 2024

BMW Group just released its sales numbers from 2023, and it was a very good year indeed. The automaker says it hit its target of 15% share of battery-electric vehicles – and expects to sell half a million BEVs in 2024.

Last year, BMW sold 375,183 BEVs, up 74.4% year-over-year, representing 14.7% of the total volume, which is close to its 15% target. Plug-in hybrids accounted for 190,303 units sold, down 13% year-over-year, with 7.4% market share. Together, BMW sold 566,486 BEVs and PHEVs, up 31% year-over-year, for a 22.2% market share. Fourth-quarter deliveries of fully electric BMW vehicles reached 113,458 units (+55.4%).

In total, BMW reported record sales of more than 2.5 million vehicles last year. The US saw the highest sales growth at 9.4% to nearly 396,000. China sales grew the slowest at 4.2% to 824,932.

In Europe, sales of BMW and Mini vehicles totaled 942,805 units for the full year 2023 (+7.5%).

The group’s Mini also saw a boost in the Mini BEVs, with the fully-electric Cooper SE selling 45,262 units, up just 3.5%. Fully electric vehicles now make up 15.3% of total Mini sales for the full year 2023.

Top sellers for the automaker’s higher-end vehicles were the BMW iX1 and i4, with the i4 M50 as the best-selling M car. Later this year, the first fully electric touring model will make its debut as part of the BMW 5 model series.

Data from InsideEVs also points out that BMW sold 326 units of the Rolls-Royce Spectre, at 22% share. The ultra-luxury $450,000 EV comes in a handful of models, with the Cullinan the most requested worldwide, followed by the Ghost.

Back in November, with the order books filled up for the first few months of this year, Reuters reports that BMW said it wouldn’t be cutting prices, despite rivals doing so to stay competitive. We’ll see how or if things change in the coming months.

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