BMW Group sells 82,700 BEVs in Q1 2024, sees growth across all key markets

The BMW Group continues to see strong demand coming its way for battery electric vehicles (BEVs). The company has delivered a total of 82,700 fully-electric BMW, Mini and Rolls-Royce vehicles to customers worldwide in the first three months of the year.

This represents year-on-year BEV growth of over 27.9% for the BMW Group. The EV penetration level is 14% comprising sales of 82,700 BEVs to total BMW Group sales of 594,671 units (up 1.1%) in the January-March 2024 period.

The increase in sales of fully-electric vehicles benefitted from a balanced performance across all major regions of the world. In India, BMW Group EVs maintained its leadership in the luxury vehicle segment into Q1 2024 by delivering 211 units (+26%).

According to the company, the BMW i7 claimed prime position as the largest selling EV, even as demand grew for the iX, i4, iX1 and Mini SE. BMW India plans to launch the i5 will soon and expand its EV portfolio. The i5 will be the fifth all-electric BMW in India, slotting between the i4 and i7. The electric sedan will have no direct rivals upon arrival, and prices are expected to touch the Rs 1 crore (ex-showroom) mark.

“The BMW Group is continuing on its BEV growth path. With the delivery of its one-millionth fully-electric vehicle since the market launch of the BMW i3, we have reached an important milestone that confirms the attractiveness of our product portfolio,” said Jochen Goller, member of the Board of Management of BMW AG responsible for Customer, Brands, Sales. Alongside fully-electric models, vehicles with highly-efficient combustion engines and plug-in hybrid technology remain important components of BMW Group’s drivetrain portfolio. “By providing a choice of drive train technologies and thanks to our high level of flexibility, the BMW Group is well-positioned to meet changing customer requirements. This strategy is now proving particularly effective in a dynamic market environment,” added Goller.

Strong BEV growth for BMW brand
In the first quarter of 2024, the BMW brand sold 531,039 units worldwide – an increase of +2.5%, compared to January-March 2023. The brand reported particularly strong growth in BEVs. Between January and March 2024, 78,691 fully-electric BMW vehicles were delivered to customers worldwide – an increase of +40.6% compared to the prior year.

Among the brand's fully-electric vehicles, the BMW i4, iX3, iX1, iX and i7 were particularly in demand. The BMW Group is also receiving positive customer feedback on the new BMW iX2, which was released onto the market in March. The newly introduced BMW 5 Series, with four drivetrain variants, including the fully-electric i5, are proving especially popular, states the carmaker.

The BMW Group anticipates a slight increase in deliveries in the Automotive Segment in 2024. Fully-electric vehicles and models from the high-end premium segment will be among the main growth drivers in 2024. In both of these segments, the BMW Group expects to see significant double-digit growth this year.

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