BMW's EVs Are Having A Great Time

Sales of BMW Group’s EVs went up even as BMW grapples with a global recall and Mini is refreshing its lineup.

BMW Group EV sales went up in Q3 2024

Photo by: InsideEVs

Iulian Dnistran

By: Iulian Dnistran

Oct 10, 2024 at 4:07am ET

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BMW and Mini saw healthy sales increases for their EVs in the third quarter.
Meanwhile, sales of combustion-powered models were down.

BMW Group, which includes BMW, Mini and Rolls-Royce, saw healthy sales increases for its all-electric vehicles in the third quarter despite dipping 13% year-over-year overall.

Globally, BMW Group sold 103,440 all-electric vehicles in Q3, a 10.1% increase from the same period last year. From January to September, the spike was even bigger, with a total of 294,054 EVs sold–19.1% more than last year.

The BMW brand sold a total of 266,151 EVs year-to-date, a 22.6% increase compared to the January-September of last year, with the iX1 and i4 chugging along nicely. However, at a brand level, including hybrid and internal combustion models, sales went down 2.3% because of an ongoing global recall and stop-sale caused by a faulty Integrated Braking System and weak demand in China.

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Mini sold 52,669 cars in the third quarter (25.2% down) and 166,703 units to date (down 20.9%). But on the EV front, the nostalgia-filled British brand did great, despite being in the middle of a full-on portfolio refresh, recording a 54.3% increase in sales in the third quarter with 16,536 vehicles delivered.

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“Our fully-electric vehicles are winning over customers worldwide–as shown by the significant double-digit growth in our BEV sales during the first nine months of the year,” said Jochen Goller, member of the Board of Management of BMW AG responsible for Customer, Brands, Sales. “We also grew our sales in the Europe region. Our attractive model line-up, which is designed for technology openness, gained traction in the marketplace, despite the challenging conditions overall. The BMW brand captured market share in Europe and significantly outperformed the region's total market,” Goller added.

BMW Group’s performance comes as yet another sign that EV sales are not slowing down, despite what you might have read or heard. General Motors, Hyundai, Kia, Lucid, Ford and others recorded growing sales and even consecutive record quarter sales. In the United States, experts predict that EV sales will reach nearly 340,000 units in Q3, an 8% increase year-over-year and the biggest volume ever for a single quarter.

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