The numbers are undeniable: the crazy growth of electric cars in Europe is currently over. The trend is rather stagnation, or even decline in some markets. But there is a manufacturer that must be looking at all this from afar with a smirk, and that is BMW. Indeed, the German company has just released its sales figures for the first half of 2024. And while they have increased slightly overall, the share of electric vehicles has grown significantly. BMW sold no less than 1,096,486 vehicles in the first six months of the year. This represents a significant increase of 2.3% compared to the same period in 2023. Among them, 179,557 were 100% electric, which is a 34.1% increase! This is enough to give the competition cold sweats and widen the gap.
BMW is already leading the race
In recent days, Audi confirmed that its Brussels plant, which produces electric vehicles, is in jeopardy, and Mercedes announced a reduction in the production capacity of its battery plant. Meanwhile, BMW has extended its lead over its main rivals, whom it was already leading in the race. In fact, a percentage taken in a raw manner doesn’t mean much. And just because BMW is increasing while others are decreasing doesn’t necessarily mean it is ahead. It all depends on where you start. But in this case, Munich is indeed ahead of Stuttgart and Ingolstadt. In 2023, BMW sold 376,183 100% electric vehicles (+74.4% compared to 2022), while Mercedes sold 240,668 (+61.3%) and Audi 178,429 (+51%). The increase in mid-2024 is even more significant.
The trend continues in 2024
For the current year, Mercedes, slightly below BMW in sales, sold a total of 959,700 vehicles in the first half of 2024, a 6% decrease compared to the first six months of 2023. Within that, electric vehicles account for 93,400 units, down 17% from the same period in 2023. According to Bloomberg figures, the share of electric vehicles represented 13.9% of BMW’s sales in the first quarter of 2024, and increased to 17.4% in the second quarter. This is in contrast to a decrease from 10.3% to 9.2% for the Mercedes brand, and a slight increase from 9% to 9.4% for Audi.
Is it BMW’s early investment in the electric market in 2013 with its i3 that gave them this advantage? According to Jochen Goller, member of the BMW AG management board responsible for sales, it is rather the wide range of vehicles that attracts customers: “Despite a challenging market environment, we increased sales of the BMW brand in the first half of the year, thanks to our attractive product portfolio.” Without going into detail about its sales by model, BMW can count on 7 100% electric models, more than its two German counterparts.
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