BMW Group posts strong growth in fully-electric vehicles and upper premium segment in first half of 2024 (2024)

Munich.With 179,557 fully electric vehicles delivered, the BMW brand achieved a +34.1% increase in BEV sales in the first half of 2024 compared to the previous year. Overall, the BMW brand grew by +2.3% compared to the previous year's period with 1,096,486 units sold in the first half of the year. The brand thereby outperformed its traditional competitors and managed to significantly gain market share in Europe. In total, the BMW Group delivered 1,213,359 vehicles of the BMW, MINI and Rolls-Royce brands in the first half of the year.

In the first six months of the year, we saw double-digit growth of our fully-electric vehicles and models from the upper premium segment,” said Jochen Goller, member of the Board of Management of BMW AG responsible for Customer, Brands, Sales. “Despite a challenging market environment, we increased sales for the BMW brand in the first half of the year, thanks to our attractive product portfolio. The strong commitment of our BMW Group employees and our robust global retail network have made a significant contribution in this regard,” said Jochen Goller.

For the BMW brand, models from the upper premium segment are becoming increasingly popular with customers, in addition to fully-electric models. The BMW 7 Series achieved a sales growth of +22% in the first half of the year compared to the same period last year. Also, the BMW X1 and the BMW 3 Series saw strong growth compared to the previous year. BMW M GmbH also performed well, generating a great deal of interest when it unveiled the first M5* high-performance sedan with electrified drive train in June. With a total of 99,517 vehicles sold, BMW M recorded a sales growth of +5.1%. With the continuing model changeover of its complete product portfolio, the MINI brand delivered 114,054 vehicles in the first half-year. This includes the first MINI Cooper* cars from the New MINI Family, which received a very good response from customers. The further ramp-up of the MINI Cooper and MINI Countryman*, as well as the market launch of the MINI Aceman*, will provide positive momentum in the second half of the year. A highlight for the Rolls-Royce brand was the launch of the Rolls-Royce Cullinan Series II* – the most in-demand Rolls-Royce model in the brand's product portfolio. In the first half-year, the Rolls-Royce brand delivered a total of 2,819 motor cars to customers worldwide. BMW Motorrad handed over 113,072 motorcycles and scooters to customers worldwide during the same period.

The BMW Group is looking forward to the second half of 2024 with confidence. This is underpinned by the full availability of the BMW 5 Series models – including the new BMW 5 Series Touring* and the first BMW i5 Touring*, as well as the ongoing market launch of the New MINI Family. By providing a variety of drive train technologies across the product portfolio of the BMW, MINI and Rolls-Royce brands, as well as a high level of flexibility, the BMW Group is well positioned to meet varying customer preferences worldwide.

BMW Group sales in Q2/YTD June 2024 at a glance

2nd Quarter 2024

Compared with previous year %

YTD

June 2024

Compared with previous year %

BMW Group Automotive

618,826

-1.3%

1,213,359

-0.1%

BMW

565,553

+2.2%

1,096,486

+2.3%

- BMW M GmbH

51,418

+6.6%

99,517

+5.1%

MINI

51,979

-27.6%

114,054

-18.7%

BMW Group electrified1

146,483

+8.5%

269,065

+9.6%

BMW Group BEV

107,933

+22.2%

190,622

+24.6%

Rolls-Royce

1,294

-16.0%

2,819

-11.4%

BMW Motorrad

66,638

+2.6%

113,072

+0.2%

1BEVs and PHEVs

BMW & MINI sales in the regions/markets

2nd Quarter 2024

Compared with previous year %

YTD

June 2024

Compared with previous year %

Europe

232,472

-0.1%

460,144

+2.6%

Germany2

68,351

-11.5%

130,451

-3.3%

Asia

249,357

-4.3%

493,364

-3.6%

China

188,495

-4.7%

375,947

-4.2%

Americas

120,822

+3.0%

229,302

+2.1%

USA

97,135

+1.7%

187,979

+1.5%

2Provisional registration figures

The delivery figures reported in this press release are provisional and may change up until the BMW Group Report 2024 is published. Notes on how delivery figures are prepared can be found in the BMW Group Report 2023 on p. 330.

BMW Group Corporate Communications

Dr Sina Unger, Communications Sales

Telephone: +49 89 382-47564

Email: sina.unger@bmwgroup.com

Carolin Bachmann, Communications Sales

Telephone: +49 89 382-38801

Email: carolin.bachmann@bmwgroup.com

Eckhard Wannieck, Head of Communications BMW Group, Finance, Sales

Telephone: +49 89 382-24544

Email: eckhard.wannieck@bmwgroup.com

Media website: www.press.bmwgroup.com/deutschland

Email: presse@bmwgroup.com

The BMW Group

With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is the world’s leading premium manufacturer of automobiles and motorcycles and also provides premium financial and mobility services. The BMW Group production network comprises over 30 production sites worldwide; the company has a global sales network in more than 140 countries.

In 2023, the BMW Group sold over 2.55 million passenger vehicles and more than 209,000 motorcycles worldwide. The profit before tax in the financial year 2023 was € 17.1 billion on revenues amounting to € 155.5 billion. As of 31 December 2023, the BMW Group had a workforce of 154,950 employees.

The success of the BMW Group has always been based on long-term thinking and responsible action. The company set the course for the future at an early stage and consistently makes sustainability and efficient resource management central to its strategic direction, from the supply chain through production to the end of the use phase of all products.

www.bmwgroup.com

Facebook: http://www.facebook.com/BMWGroup

Twitter: http://twitter.com/BMWGroup

YouTube: http://www.youtube.com/BMWGroupView

Instagram: https://www.instagram.com/bmwgroup

LinkedIn: https://www.linkedin.com/company/bmw-group/

*Fuel consumption and emissions data:

BMW M5 Limousine mit M xDrive: energy consumption combined:25,5 kWh/100 km and 1,7 l/100 km (WLTP); CO2 emissions combined: 39 g/km (WLTP); CO2 class: G

MINI Cooper E: WLTP energy consumption combined: 14,3 kWh/100 km; WLTP CO2 emissions combined: 0 g/km; CO2 class: A; WLTP electric range: 293 - 305 km

MINI Aceman E: WLTP energy consumption combined: 14,7 kWh/100 km; WLTP CO2 emissions combined: 0 g/km; CO2 class: A; WLTP electric range: 289 - 309 km

MINI Countryman E: WLTP energy consumption combined: 17,4 kWh/100 km; WLTP CO2 emissions combined: 0 g/km; CO2 class: A; WLTP electric range: 423 - 462 km

Rolls-Royce Cullinan Series II: WLTP energy consumption combined: 380-363 g/km; WLTP CO2 emissions combined: 16.8-17.7 mpg / 16.8-16.0 l/100km; CO2 class: G

BMW 520d Touring: energy consumption combined: 5,9 l/100 km (WLTP); CO2 emissions combined: 154 g/km (WLTP); CO2 class: E

BMW i5 eDrive40 Limousine: energy consumption combined: 16,3 kWh/100 km (WLTP); CO2 emissions combined: 0 g/km (WLTP); CO2 class: A; electric range: 571 km (WLTP); performance: 250 kW (340 PS)

BMW Group posts strong growth in fully-electric vehicles and upper premium segment in first half of 2024 (2024)

FAQs

What does BMW do well to market to each segment group where could it improve its marketing strategy? ›

BMW segments consumers and markets cars to different groups. It focuses only on premium-priced vehicles and avoids competing in all segments. BMW uses demographic segmentation based on income, age, and gender. It uses differentiated marketing to target different needs through a wide range of cars and motorcycles.

Is BMW going fully electric? ›

Big news from BMW: its historic Munich factory will exclusively produce electric vehicles from 2027. The moment will draw the curtain on decades of tradition as the company shifts apace towards its e-mobility goals.

What is BMW Group strategy? ›

STRATEGIC DIRECTION.

Today and in the future, our focus is on our customers, and on meeting their wide-ranging wishes and exceeding their expectations. At the BMW Group, forward-looking technologies meet emotive products and individual customer care to create a unique overall experience.

What is the future plan of BMW? ›

As early as 2023, the Group will offer at least one fully electric model in virtually all key segments. From 2025 onwards, the BMW Group plans to increase its delivery share of all-electric vehicles to 50% with the Neue Klasse, while also further reducing its carbon footprint over the entire life cycle.

What are the key features of BMW that makes the brand gaining its superiority in the market? ›

BMW is known for their superior engineering, innovative technology, luxurious comfort, and impressive resale value. They offer a variety of models to cater to different needs and are committed to providing an ultimate driving experience.

Is BMW abandoning electric? ›

BMW Plans to Roll Out Hydrogen-Powered Cars by 2025

In the coming era of transportation, the focus will be on fast performance, quick refuelling, and eco-friendly options. Hydrogen engines are emerging as a potential game-changer in the automotive industry, aligning with these priorities.

What is BMW doing about electric cars? ›

We already provide our customers with an extensive range of all-electric, battery-powered vehicles (BEV). In 2023, another high-volume model, the all-electric BMW i5 business sedan, went on sale.

How much will the electric BMW cost? ›

The price of the 2025 BMW i4 starts at $53,975 and goes up to $71,875 depending on the trim and options.

What is the BMW strategy for 2024? ›

August 2024. WE MAKE INDIVIDUAL MOBILITY MORE HUMAN, INTELLIGENT AND RESPONSIBLE – CREATING AN INSPIRING FUTURE FOR ALL OF US. IMPACT. OUR PATH TO THE FUTURE.

What segments does BMW target? ›

Target Audiences

BMW's marketing expertise is rooted in its deep understanding of its target demographics. While appealing to a diverse consumer base, BMW primarily targets affluent professionals, driving enthusiasts, tech-savvy consumers, and environmental advocates.

What are the future goals of BMW? ›

By 2030 the BMW Group aims to reduce the carbon emission per vehicle produced by 40% compared to 2019. The BMW Group aims to further reduce CO2 emissions by using innovative high-quality leather alternatives and paints made with renewable raw materials.

Is BMW moving to all-electric? ›

Starting in 2027, BMW will produce nothing but electric vehicles in Munich, though it will continue to manufacture models with internal combustion engines at other factories.

Does BMW have a 100% electric car? ›

The BMW iX represents a new futuristic stance. With an intelligent kidney grille, aerodynamic enhancements, and expansive size, this all-electric SUV exudes daring, innovative style from the inside out.

Are BMWs moving away from EV? ›

The Stuttgart-based carmaker cited weaker demand in major economies and heavy discounts in the EV market. BMW is bucking the trend in Europe, where sales of battery-powered cars have flattened or diminished as a share of overall deliveries in recent months.

How does BMW use market segmentation? ›

BMW has historically targeted specific market segments through selective target marketing. [1] This allowed BMW to design vehicles tailored to each segment's unique needs and wants. [2] However, BMW primarily focuses on the upper class, leaving opportunity to expand into the middle and lower classes.

What is the target market strategy of BMW? ›

BMW's target market consists of affluent individuals who value luxury, performance, and prestige. The brand appeals to customers who seek a premium driving experience and are willing to pay a higher price for quality and craftsmanship.

What method of segmentation does BMW use? ›

Psychographic segmentation BMW Psychographic segmentation divides buyers into different groups based on social class, personality and attitudes. For example, a person achieves with a goal of making the world a better place can go for a hybrid instead of petrol or diesel versions.

What is the market strategy for the segment? ›

A marketing segmentation strategy helps determine which customers you can build relationships with, how to group them, and what marketing actions to take to best reach your target market. Creating a customized experience catered to customers lead to higher customer retention rates and more focused marketing campaigns.

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