The BMW Group reports 588,138 global vehicle sales during the first quarter of 2023, which is 1.5 percent less than a year ago. Nonetheless, the German manufacturer expects that in the full year 2023, sales will increase slightly.
The overall sales in Q1 2023:
- BMW: 517,957 (down 0.4%)
- Mini: 68,541 (down 9.2%)
- BMW Group Automotive: 588,138 (down 1.5%)
Meanwhile, plug-in electric car sales continue to increase – thanks to booming battery electric vehicle (BEV) sales and despite fading plug-in hybrid vehicle (PHEV) sales.
In Q1, the company sold 110,486 rechargeable cars. That’s a 23 percent increase year-over-year and close to 19 percent share in the total volume.
The results could be better, because BEVs were up 83 percent year-over-year and with nearly 65,000 units represents 11 percent of the total volume. However, PHEVs noted a 16 percent decrease, dragging the entire plug-in segment down.
- BEVs: 64,647 (up 83%) and 11.0% share
- PHEVs: 45,839 (down 16%) and 7.8% share
- Total plug-ins: 110,486 (up 23%) and 18.8% share
It’s worth to note that BEV sales are expanding consistently at a pretty healthy rate:
On the other hand, PHEVs are in stagnation and fading:
For reference, in 2022, the BMW Group sold 433,795 plug-in electric cars (up 32 percent year-over-year), including 215,755 BEVs (up 108 percent year-over-year).
It’s very important to note that just like in Q4, all-electric car sales doubled in 2022. Meanwhile, plug-in hybrids were below the 2021 level.
Plug-in car sales in 2022:
- BEVs: 215,755 (up 108%) and 9.0% share
- PHEVs: 218,040 (down 3%) and 9.1% share
- Total plug-ins: 433,795 (up 32%) and 18.1% share
Plug-in car sales by brand
If we get into the details, it turns out that the BMW brand sold 55,979 all-electric cars last quarter, while the remaining 8,668 units fall on the Mini brand.
BEV/PHEV sales YTD:
- BMW:
BEVs: 55,979 (up 112.3% year-over-year)
PHEVs: N/A - Mini:
BEVs (fully-electric Cooper SE): 8,668
PHEVs: N/A - BMW Group Automotive: 110,486 (up 23%)
BEVs: 64,647 (up 83%)
PHEVs: 45,839 (down 16%)
This year, BMW intends to introduce the fully-electric BMW i5 model, which before the end of the year will be joined also by the BMW iX2 and the fully-electric 5 Series Touring.
In the long-term, BMW Group will sell more and more all-electric cars. The company announced that by 2024, at least one in five of the company’s new vehicles should have a fully-electric drivetrain. Here is the roadmap:
- 2024: BEVs share – at least one in five (20%)
- 2025: BEVs share – at least one in four (25%)
- 2026: BEVs share – at least one in three (33%)
