Energy, Automobile, EV, Renewable News | BMW Group sold 588,138 vehicles in Q1 2023

BMW Group sold 588,138 vehicles in Q1 2023

May 7, 2023

In the first quarter of 2023, a total of 588,138 vehicles were sold (2022: 596,907 units/-1.5%). The BMW brand delivered 517,957 vehicles to customers in the first three months (2022: 519,796 vehicles/-0.4%). BMW M models, in particular, were again in high demand, with a significant increase in deliveries of 18.9% to 46,430 units. The main growth driver was the fully-electric BMW M Performance i4 M50*. BMW Group continued on its successful course in the first quarter of 2023. The company’s strong operating performance was confirmed by its margins: The Group EBT margin for the three-month period came in at 13.9%, while the EBIT margin for the Automotive Segment increased to 12.1%. The BMW Group’s operating financial strength is also reflected in the free cash flow of € 1,981 million in the Automotive Segment.

With its popular premium vehicles, the BMW Group benefited from positive development in many automotive markets and from continued stable pricing for both new and used cars. Sales momentum came from the electrified product line-up as well as models of higher classes, which are among the youngest in the market. Sales of BMW BEV models more than doubled to 55,979 deliveries (2022: 26,362 units/+112.3%).

“The first quarter underlines that compelling products are the best answer to a persistently challenging environment. Both our electric vehicles and our renewed model line up with cutting-edge combustion technology inspire customers all over the world,” said BMW AG CEO Oliver Zipse in Munich on Thursday. “A high level of flexibility combined with our operational performance is the basis for ensuring the BMW Group’s continued success even in the face of headwinds.”

Electrified models drive sales growth

The BMW Group is systematically expanding its range of electrified vehicles. In the first quarter of 2023, the BEV share of total deliveries increased to 11.0% (2022: 5.9%/+84.6%), while the figure for electrified models climbed to 19.0%. For the full year 2023, fully-electric vehicles’ share of total sales should reach 15%.

Overall, deliveries of electrified vehicles (BEV and PHEV models) rose to 110,486 units in the first quarter (2022: 89,669 units/+23.2%). The main sales drivers included the BMW i4* sport coupé and the Plug-in-Hybrid X5, but the BMW iX3 and MINI Cooper SE* were also still key contributors. The fully-electric BMW i7* luxury sedan, the BMW iX1* and the BMW XM* plug-in hybrid all enjoyed a successful market launch.

Fully-electric models (BEVs) saw particularly strong growth in demand – with a total of 64,647 units delivered to customers (2022: 35,289 vehicles/+83.2%). The BMW Group is expanding its range of electrified models, as planned. The fully-electric BMW i5 and BMW iX2 will be released onto the market towards the end of the year. This means the BMW Group will have at least one fully-electric model of all its main series on the roads in 2023. By 2024, at least one in five of the company’s new vehicles should be a BEV; by 2025, it will be one in four.

The main growth drivers in 2023 will be fully-electric vehicles (BEVs) and models from the upper premium segment – like the new BMW 7 Series, the BMW XM and the Rolls-Royce model family, as well as the updated BMW X7 and the BMW X5 M* and X6 M* model updates.

Rolls-Royce once again improved on the strong first quarter of last year, with 1,640 motor cars delivered to customers (2022: 1,624 vehicles/+1.0%). The Rolls-Royce Cullinan and Ghost models were the most in demand. The market introduction of the fully-electric Rolls-Royce Spectre towards the end of 2023 is set to generate further sales momentum.

The MINI brand reported sales of 68,541 units (2022: 75,487 units/-9.2%). The electrified MINI Cooper SE* and MINI Countryman Plug-in-Hybrid* models once again increased their share of total MINI sales, to 19%. The market launch of the limited MINI Cooper SE Convertible* is another strategic step towards full electrification of the brand.

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