BMW Group All-Electric Car Sales Hit New Record In Q3 2023

The BMW Group reports 621,699 global vehicle sales during the third quarter of 2023, which is almost six percent more than a year ago. Also, the year-to-date results are several percent better than a year ago.

Results last quarter and year-to-date:

  • BMW sales: 549,941 (up 6%) and 1,621,267 (up 6%)
  • Mini sales: 70,384 (up 3%) and 210,741 (up 1%)
  • BMW Group Automotive sales: 621,699 (up 6%) and 1,836,563 (up 5%)

Meanwhile, BMW Group battery electric vehicle (BEV) sales in Q3 increased by nearly 80 percent year-over-year to a new record of 93,931. This accounted for 15.1 percent of the total volume (compared to 8.9 percent a year ago).

It’s worth noting that plug-in hybrids remain on a downward trend, although in Q3, the rate of year-over-year decline slowed down to about one percent (46,012).

Overall, the BMW Group sold almost 140,000 rechargeable cars last quarter (up 42 percent year-over-year), which is 22.5 percent of the total volume.

Pieter Nota, a member of the Board of Management of BMW AG responsible for Customer, Brands, And Sales said: โ€œThe sales success of the third quarter shows that our customers appreciate our wide range of attractive products across all drive technologies. Our fully-electric products, in particular, are benefiting from high demand worldwide โ€“ as seen in our BEV sales, which significantly outperformed the total BEV market in the first nine months. Overall, we are on track to meet our growth targets for 2023,โ€

BMW Group global plug-in car sales in Q3’2023:

  • BEVs: 93,931 (up 80%) and 15.1% market share
  • PHEVs: 46,012 (down 1%) and 7.4% market share
  • Total: 139,943 (up 42%) and 22.5% market share

BMW And Mini Global Plug-In Car Sales โ€“ Q3 2023

BEV sales continue to expand at a pretty healthy rate:

PHEV sales are in stagnation at best and show signs of fading:

So far this year, the BMW Group sold over 385,000 plug-in cars, including close to 250,000 all-electric cars.

BMW Group global plug-in car sales in Q1-Q3’2023:

  • BEVs: 246,867 (up 93%) and 13.4% market share
  • PHEVs: 138,544 (down 11%) and 7.5% market share
  • Total: 385,411 (up 36%) and 21% market share

For reference, in 2022, the BMW Group sold 433,795 plug-in electric cars (18 percent of the total volume), including 215,755 BEVs (nine percent share).

The target for this year is 15 percent BEVs and we will probably see the first quarter with six-digit BEV sales in Q4.

Plug-in car sales by brand

The BMW brand doubled its all-electric car sales in Q3, to 83,211 units, which leaves 10,720 BEVs for the Mini brand.

BEV/PHEV sales in Q3 2023:

  • BMW:
    BEVs: 83,211 (up 100.3% year-over-year) and 217,138 YTD
    PHEVs: N/A
  • Mini:
    BEVs (fully-electric Cooper SE): 10,720 and 29,729 YTD
    PHEVs: N/A

Several new models are entering the market in late 2023, which should further boost BMW and Mini all-electric car sales (there is not much effort on the plug-in hybrid side).

In Q4, the Rolls-Royce Spectre will enter the market (obviously in low volume), which means that Rolls-Royce will become the third brand in the group to sell all-electric cars. Order books for the Spectre are already full until 2025, the company says.

The BMW Group intends to increase all-electric car share to 20 percent next year and add several percent more in the following years:

  • 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%)

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