BMW EV sales rise in Q3

Germany's BMW Group sold 93,931 fully-electric BMW and Mini vehicles in the third quarter of 2023, its highest quarterly number ever and an increase of 79.6pc compared to the same period last year.

The increase compares to a just 5.8pc rise in overall BMW sales, and means that BEVs now represent over 15pc of all car sales for the group, with that figure projected to remain the same for the full year sales. 

Across the first three quarters 217,138 fully-electric BMW vehicles have been delivered to customers. 

“Our fully-electric products, in particular, are benefiting from high demand worldwide — as seen in our BEV sales, which significantly outperformed the total BEV market in the first nine months,” says Pieter Nota, the BMW board member responsible for sales. 

BMW says it fully-electric BMW i4 is proving especially popular, while the iX1 and X1 are also selling well. The fully-electric BMW i5 has also received positive customer feedback. 

“New orders already reflect our customers’ high level of enthusiasm for this new model,” said Nota. 

BMW sales of EVs have increased every quarter since the third quarter of 2021.

The firm has traditionally been more cautious about BEVs than other OEMs, but last month outlined a 24-month rollout plan of six BEV models as part of its Neue Klasse range.

And earlier this year it announced an investment of more than £600mn ($732mn) to enable factories at Oxford and Swindon in the UK to build all-electric Mini models. 

Growing global market 

BMW is the eighth largest seller of BEVs worldwide with 5pc of the global market share in the first half of 2023, according to the latest research from analyst Canalys.

China's BYD has the biggest market share with 21pc of sales, and Tesla the second biggest with 15pc of sales. 

Figures from Canalys show total BEV sales worldwide grew by 49pc in the first half of 2023 to reach 6.2 million units. EVs now constitute 16pc of the global light vehicle market. 

Mainland China was by far the largest EV market, with 55pc of global EV sales in the first half — a total of 3.4mn units.

Europe is the second largest EV market, with a 24pc share and 1.5mn units shipped.