BMW Group Increased All-Electric Car Sales In Q1 2023 By 83%

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 of 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 but 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 a 19 percent share out of the total volume.

The results could be better because BEVs were up 83 percent year-over-year and, with nearly 65,000 units, represent 11 percent of the total volume. However, PHEVs noted a 16 percent decrease, dragging the entire plug-in segment down.

BMW And Mini Global Plug-In Car Sales – Q1 2023

• 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 noting that BEV sales are expanding consistently at a pretty healthy rate:

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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 in Q1:

• 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 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%)

More about BMW

US: BMW Sold Over 6,500 All-Electric Cars In Q1 2023

2023 BMW iX M60 Driving Notes: Excellent In Theory

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