BMW hits 2023 sales target, on track for EV goals in 2024

BMW Group reported record sales of over 2.5 million units in 2023 and hit its target of a 15 per cent share of battery-electric vehicles, the carmaker said on Tuesday (Jan 9).

Fourth quarter sales reached 718,778 cars, up 10.3 per cent from last year’s figures, with total annual sales up 6.5 per cent. The US saw the highest sales growth over the year at 9.4 per cent to nearly 396,000, while China sales grew the slowest at 4.2 per cent to 824,932.

BMW is “confident” it can maintain its battery-electric sales trajectory next year, the company said.

The carmaker said in November its order book was filled into the first few months of next year, with executives adding they saw no need to cut prices as some rival automakers have.

It is due to report full-year results on Mar 21.

Its third quarter results showed a 10.3 per cent margin on earnings before interest and taxes for the year in its car division, in line with its nine – 10.5 per cent forecast. REUTERS