BMW Group is on track to double its EV sales this year, while sales of ICE vehicles continue to decline.
BMW is one of many brands whose ICE vehicle sales have fallen dramatically in the past year. In the third quarter alone, BMW Group saw a 1.4% decline in total sales, contributing to an overall decline of 9.9% compared to last year. At the same time, the German auto group’s electric vehicle sales grew by 121.6% in the third quarter and by 114.8% compared to the previous year. This puts BMW Group on track to double electric vehicle sales by the end of 2022 compared to last year.
While BMW doesn’t provide model-specific sales stats, the press release does highlight some of its bestsellers. The MINI Cooper SE is such a success story and nearly 30,000 units have been sold since January this year. At the same time, the brand reports that every EV model they sell has seen sales growth this year, including the BMW i4, i7, iX, iX3 and iX1.
BMW’s brands will launch numerous new EV models to continue this growth in EV sales in the coming year. BMW unveils the BMW i5, an EV variant of the historic 5-series brand. Rolls-Royce launches its first-ever electric model, the Rolls-Royce Spectre. And while not specified in the press release, there is rumor that a production version of the MINI Aceman is in the works.
BMW’s goal is to have 2 million electric vehicles on the road by 2025. And they are being forced to move in this direction not only by legislation forcing ICE vehicles out of production, but also by competitors, most notably Tesla, giving the German auto group a run for their money.
The question that arises among many ICE vehicle brands is now more tangible than ever; when will ICE production stop and when will EVs take its place? The brand’s most iconic nameplate, the 3 Series, remains without an EV option and a fully electric M car has yet to appear. But with the Tesla Model 3 now an ever looming threat, BMW will have to move quickly or face even more sales declines in the future.
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