BMW Surges Ahead In EV Market Hitting 15% BEV Sales Goal In 2023, Plans To Sell Over Half A Million EVs This Year

Zinger Key Points
  • BMW's battery electric vehicle or BEV sales hit its goal of 15%, with growth across all sales regions worldwide in 2023.
  • The company plans to sell more than half a million fully-electric vehicles in 2024.

Bayerische Motoren Werke AG BMWYY BMW Group said it has reached a new all-time high of 2.56 million units in 2023 (+6.5% Y/Y).

The company's battery electric vehicle or BEV sales hit its goal of 15%, with growth across all sales regions worldwide.

With a total of 2.25 million vehicles delivered to customers worldwide in 2023, the BMW brand posted growth of +7.3% from the previous year.

In the fourth quarter, the BMW Group delivered 129,316 fully-electric vehicles to customers (+47.7%).

The company said the BMW brand once again topped the global premium segment in 2023, with electric models seeing significant growth (+92.2%).

"We see continued high demand for our fully-electric products and, based on our strong, cross-brand product portfolio, expect to sell more than half a million fully-electric vehicles in 2024 ", said Jochen Goller, member of the Board of Management of BMW.

Read Next: Tesla Dominates EV Charging Race Installing 6,000 Fast Chargers In 2023, ChargePoint And EVgo Struggle To Keep Up: Report

Price Action: BMWYY shares traded lower by 0.81% to $36.79 on the last check Tuesday.

Photo via Company

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