The BMW Group has announced a robust increase in the sales of fully-electric vehicles (BEVs) during the first nine months of 2024, achieving a +19.1% growth compared to the same period last year. A total of 294,054 BEVs were delivered to customers worldwide, showcasing strong demand despite challenging market conditions.
The BMW brand led the charge in the electrification push, with a +22.6% rise in fully-electric vehicle sales, delivering 266,151 units by the end of September. The MINI brand also saw substantial growth, particularly in the third quarter, where sales of fully-electric models surged by +54.3%, with 16,536 BEVs delivered to customers.
“Our fully-electric vehicles are winning over customers worldwide – as shown by the significant double-digit growth in our BEV sales during the first nine months of the year,” commented Jochen Goller, member of the Board of Management of BMW AG responsible for Customer, Brands, and Sales. “We also grew our sales in the Europe region. Our attractive model line-up, which is designed for technology openness, gained traction in the marketplace, despite the challenging conditions overall.”
European Markets Shine Amid Global Headwinds
In the European market, BMW’s performance was particularly strong, with 577,803 vehicles delivered from January through September, a +7.6% increase year-over-year. Demand surged in key markets like the UK, Italy, and France. Sales of BMW’s fully-electric models in Europe grew significantly, with 121,844 units delivered, marking a +35.8% increase.
However, the global market posed challenges for the company. The BMW Group delivered a total of 1,754,158 vehicles across all brands (BMW, MINI, and Rolls-Royce) during the first nine months, a -4.5% decline compared to the same period last year. This decrease was partly attributed to delivery stops related to issues with the Integrated Braking System (IBS) and a difficult market environment in China. Following these developments, BMW AG revised its sales targets for the financial year on September 10, 2024.
Model Highlights and Regional Performance
BMW’s flagship BEV models, such as the BMW iX1 and BMW i4, demonstrated strong sales momentum. In total, the BMW brand sold 1,583,485 vehicles, a -2.3% dip compared to the previous year. BMW M GmbH saw positive growth, with a +2.0% increase in sales, delivering 146,574 units. The MINI brand, undergoing a complete portfolio refresh this year, sold 166,703 vehicles, reflecting a -20.9% decrease overall.
The Rolls-Royce brand delivered 3,970 luxury vehicles globally, experiencing a -12.8% decline. Meanwhile, BMW Motorrad, the company’s motorcycle division, delivered 163,436 units, showing a slight -0.9% drop from the previous year.
Regional Breakdown: Challenges in Asia, Gains in the Americas
BMW Group faced difficulties in Asia, with a -24.1% decrease in regional sales during Q3, delivering 205,987 units. In China, sales fell by -29.8% in the third quarter, leading to a total of 523,638 units sold between January and September, representing a -13.1% year-over-year decline. Conversely, in the Americas, BMW delivered 330,546 vehicles, a -2.2% reduction, with 271,399 of those sales in the United States (-2.1%).
Despite facing a globally challenging market environment, BMW Group remains committed to its electrification strategy and continues to see positive growth in its BEV segment. With a comprehensive lineup of new fully-electric models and continued investments in digital and technological innovation, the company aims to maintain its leadership position in the premium automotive market.
