BMW Group, the German automaker comprising brands like BMW, Mini, and Rolls-Royce, has announced a robust increase in global sales, both in its conventional combustion-powered models and electric vehicles (BEVs), reaffirming its commitment to maintaining competitive pricing and steering clear of price wars.
In the third quarter of this year, the BMW Group reported a noteworthy milestone, delivering a total of 621,699 vehicles. This figure represents a substantial 5.8% upswing compared to the same period in the previous year when deliveries stood at 587,744 units. These impressive results have extended over the broader January to September timeframe, marking a 5.1% growth in sales, climbing from 1,747,838 vehicles in 2022 to 1,836,563 units this year.
This overall positive trend is mirrored in the electric vehicle segment, with the BMW Group posting robust figures. During the third quarter of this year, the company reported the sale of 93,931 BEVs, an exceptional surge of 79.6% compared to the same quarter in 2022. BEVs now constitute a noteworthy 15.1% of the total vehicle deliveries. Over the first nine months of 2023, BMW achieved a significant milestone, selling 246,867 BEVs, marking an extraordinary 92.6% increase from the 128,195 units delivered during the same period in the previous year.
Notably, the BMW brand itself spearheaded this remarkable growth, reporting a staggering 119.3% rise in BEV deliveries, accounting for 13.4% of total sales from January to September.
Despite the remarkable ascent of BEVs, BMW’s plug-in hybrid electric vehicles (PHEVs) faced a different trajectory, witnessing a 12.5% decrease in sales during the first nine months of 2023, declining from 143,928 units to 125,891 units, as customers exhibited a preference for fully electric alternatives. Intriguingly, Mini, a subsidiary of the BMW Group, bucked the trend with PHEV sales increasing by 13.4% this year, from 11,161 units to 12,653.
When questioned by Reuters about any potential price cuts, particularly in the Chinese market, BMW’s Chief Executive, Oliver Zipse, categorically stated that there were no such plans in the offing. Zipse emphasized the company’s unwavering stance on not engaging in price wars, asserting, “We have no interest in sinking prices to gain market share. That’s not our strategy. And as you can see, we are managing to grow substantially even with very acceptable prices.”
