BMW Charges Forward: Q1 Sees Deliveries with 27.9% Surge in Fully-Electric Vehicles

Benzinga04-10

Bayerische Motoren Werke AG (OTC:BMWYY) BMW Group delivered 594,671 vehicles to customers (+1.1% Y/Y) in the first quarter of this year.

BMW Group BEV delivered 82,700 fully-electric BMW, MINI, and Rolls-Royce vehicles (+ 27.9% Y/Y) in the first three months of the year, aided by performance across all major regions of the world.

The company grew strongly in Europe, with 227,784 BMW and MINI vehicles delivered to customers (+5.5% Y/Y) in the quarter.

The BMW Group also recorded a significant increase of 21.6% Y/Y in model sales in the high-end premium segment in the first quarter.

Rolls-Royce motor cars deliveries declined 7.0% Y/Y to 1,525 and, BMW Group electrified vehicle sales increased 11.0% Y/Y to 122,616.

Jochen Goller, member of the Board of Management of BMW AG responsible for Customer, Brands, Sales said, “The BMW Group is continuing on its BEV growth path. With the delivery of its one-millionth fully-electric vehicle since the market launch of the BMW i3, we have reached an important milestone that confirms the attractiveness of our product portfolio.”

Outlook: BMW expects a slight increase in deliveries in the Automotive Segment in 2024, with fully-electric vehicles and models from the high-end premium segment to be among the main growth drivers this year.

In both segments, BMW expects to see significant double-digit growth this year.

Also Read: BMW Shifts Gears with Analog Devices’ E²B Ethernet Technology For Enhanced Vehicle Connectivity

Photo by Sklo Studio on Shutterstock

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