BMW Projects Higher Sales Volume in 2024

In 2023, the BMW Group achieved a significant milestone by delivering 2,554,183 cars, breaking records for the company. The core BMW brand saw a 7.2% increase in vehicles shipped, reaching an all-time high of 2,252,793 deliveries. Looking ahead to 2024, the automotive conglomerate predicts continued growth in demand, not only for the main BMW brand but also for MINI and Rolls-Royce.

BMW CEO Oliver Zipse, in an interview with Bloomberg Television, mentioned that the company expects a rise in demand in key markets such as North America, China, and Europe in 2024. The increasing popularity of high-end electric vehicles, including models like the i7 full-size luxury sedan and the iX large SUV, is anticipated to drive sales. BMW has also introduced the i5 sedan and a practical wagon version to cater to this growing market.

The company is optimistic about the future of fully electric vehicles in the upper premium segment, with pure EVs accounting for nearly 15% of total sales for the BMW Group. The goal is to increase this to 50% by the end of the decade, with new EV models on the Neue Klasse platform expected to contribute to this growth.

By the end of 2024, BMW plans to have over 15 EVs in its lineup, with a focus on expanding its electric vehicle offerings. The company is soon to celebrate selling its one-millionth electric car and has recently reached a milestone of delivering two million electrified cars (PHEV+EV). The MINI Aceman, an electric-only crossover, is set to debut soon, further emphasizing BMW’s commitment to electrification.

While BMW will continue to invest in traditional gasoline and diesel cars to cater to customers well into the 2030s, Rolls-Royce and MINI have different plans. Rolls-Royce aims to transition to exclusively electric vehicles within the next six years, while MINI is expected to follow suit in the early 2030s. With the addition of ALPINA to its portfolio in 2022, BMW now has more than three car brands under its umbrella, each with its own unique strategy for the future. ALPINA, for instance, will focus on ICE cars for now based on customer preferences.