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The BMW Group has achieved a significant milestone in its journey towards electrification, announcing the delivery of its one-millionth fully electric vehicle in the face of a challenging market. In the first quarter of 2024, the company saw a robust increase in battery electric vehicle (BEV) sales across all major regions, delivering 82,700 BEVs—a year-on-year growth of over 27.9%. This growth is a testament to the global appeal and performance of BMW’s electric models, including BMW, MINI, and Rolls-Royce brands, reflecting a balanced surge in demand worldwide.
Key Highlights:
- Milestone Achieved: 1 million fully electric vehicles delivered.
- Q1 2024 BEV Sales: 82,700 units, marking a 27.9% increase.
- Overall Growth: BMW Group’s total deliveries hit 594,671 vehicles, a 1.1% increase.
- Strong European Performance: Notable growth in Europe with a 5.5% increase.
- High-End Premium Segment Surge: A significant 21.6% jump in high-end premium segment sales.
- BEV and High-End Main Growth Drivers: Expected significant double-digit growth in BEVs and high-end premium models in 2024.
Jochen Goller, a member of BMW AG’s Board of Management, emphasized the company’s strategic flexibility and diverse drivetrain portfolio’s role in achieving this milestone. “With the delivery of its one-millionth fully electric vehicle…we have reached an important milestone that confirms the attractiveness of our product portfolio,” Goller stated.
The BMW brand itself reported a 2.5% increase in total sales, with a notable 40.6% rise in BEV sales, driven by models like the BMW i4 and iX. BMW M also continued its growth trend, with a 3.6% increase in sales, highlighting the enduring appeal of BMW’s high-performance models.
Additionally, preparations for the new MINI Family are underway, with significant updates and the introduction of fully electric models anticipated. Despite a slight dip in Rolls-Royce deliveries, demand remains strong with unique Bespoke creations continuing to attract clients.
BMW Motorrad, too, showcased a strong performance, with March 2024 marking the brand’s best-ever month in terms of sales, signaling strong momentum for the coming months.
Regional Sales Insights:
- US Market: Slight increase with 90,844 units delivered.
- European Growth: 227,784 units delivered, a 5.5% increase.
- German Market Surge: 61,976 units delivered, marking a 7.6% increase.
- China’s Market: A slight decline with 187,452 units delivered.
The BMW Group’s consistent growth, particularly in the BEV segment, alongside its adaptability in a dynamic market environment, positions it favorably for sustained success in 2024 and beyond.
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