BMW Group announced record sales of over 2.5 million units in 2023, reaching its goal of a 15% share of battery-electric vehicles. The carmaker reported fourth-quarter sales of 718,778 cars, marking a 10.3% increase from the previous year. Total annual sales for the year saw a 6.5% rise.
The United States witnessed the highest sales growth at 9.4%, reaching nearly 396,000 units, while China experienced slower growth at 4.2%, with sales totaling 824,932 units.
BMW expressed confidence in maintaining its trajectory in battery-electric vehicle sales for the upcoming year. In November, the company reported a filled order book for the first few months of the following year, with no plans to reduce prices as some rival automakers have done.
Full-year results are scheduled to be reported on March 21. The third-quarter results showed a 10.3% margin on earnings before interest and taxes for the year in BMW’s car division, in line with its forecast of 9-10.5%.
