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Electric Vehicles Drive BMW Group’s Growth in Q2 2023

BMW Group’s Q2 2023 vehicle sales rose by 11%, outpacing predictions, with 553,369 BMWs and 71,816 Minis sold. Year-to-date sales stand at 1,071,326 for BMW (5% growth) and 140,357 for Mini, despite a slight 0.2% decrease. In total, the group sold 626,726 vehicles in Q2, and 1,214,864 YTD.

Most impressive were BMW’s battery electric vehicle (BEV) sales, doubling to 88,289 units, a 117% increase from last year, constituting 14.1% of BMW’s total sales volume. However, plug-in hybrid vehicle (PHEV) sales dropped to half of the BEV sales figures.

BEVs and PHEVs combined made up over a fifth of the total sales volume. Specifically, in Q2 2023, BMW sold 88,289 BEVs (14.1% of total volume) and 46,693 PHEVs (7.5% share). The total plug-in car sales reached 134,982 units, a growth of 42%, and a 21.5% share of total sales.

Future plans for BMW Group include launching fully-electric models like the BMW i5, iX2, and i7 M70, and the all-electric Rolls-Royce Spectre super coupé. The company aims to increase the share of fully-electric vehicles in their sales to 20% by 2024, 25% by 2025, and 33% by 2026.