BMW Electric Vehicle Sales Jump 12.7% in Q1 2024, Ongoing Expansion

• Electric vehicle sales surged, with models like the BMW i5 contributing to 12.7% of total U.S. sales in Q1 2024.
• BMW’s Q1 2024 sales in the U.S. rose by 2.4% compared to Q1 2023.
• MINI brand sales declined by 12.6% in Q1 2024 due to a planned model changeover, signaling strategic shifts within the brand.

BMW of North America, LLC has recently disclosed its first-quarter sales figures for 2024, showing a promising start for the automotive brand. Sales have increased by 2.4% compared to the same period last year, demonstrating BMW’s strong position in the competitive U.S. market. Additionally, the surge in BMW electric vehicle sales further highlights the brand’s growth trajectory, reflecting evolving consumer preferences towards sustainable mobility solutions.

Sebastian Mackensen, President and CEO of BMW of North America, expressed confidence in the company’s trajectory, stating, “We’re off to a good start in 2024 and confident that the quality of our vehicles and diversity of our product lineup will continue to drive our success.” Mackensen stressed the brand’s dedication to providing customers with a premium experience through its wide dealer network, highlighting BMW’s commitment to customer satisfaction.

One notable highlight from the sales report is the growing demand for BMW’s electric vehicles. With the introduction of the BMW i5, the company now features a lineup of four fully electric models in the U.S., including the BMW i4, i5, i7 sedans, and the BMW iX Sports Activity Vehicle. In the first quarter of 2024, BMW reported the sale of 10,713 electric vehicles, making up about 12.7% of total U.S. sales.

BMW’s commitment to sustainability extends to its plug-in hybrid electric models, with offerings such as the BMW X5 xDrive50e, BMW 330e, BMW 750e, and BMW XM. The upcoming release of the plug-in hybrid electric BMW 550e later this year shows the brand’s commitment to offering environmentally friendly options without sacrificing performance, contributing to the overall growth of BMW electric vehicle sales.

Despite the overall positive performance, MINI brand sales experienced a slight decline of 12.6% compared to the first quarter of 2023. This decrease is attributed to a planned model changeover as MINI prepares to announce an entirely new product portfolio later this year, indicating strategic shifts within the brand’s sales strategy.

BMW New Vehicle Sales Comparison: Q1 2024 vs. Q1 2023

The breakdown of new vehicle sales for BMW of North America, LLC in the first quarter of 2024, showcased the continued strength of BMW passenger cars and the resilience of BMW light trucks despite a slight decrease. Additionally, this performance highlights the brand’s growing momentum, which in turn, boosts BMW electric vehicle sales in the U.S. market.

IMAGES: ELECTRIFY EXPO

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