BMW’s sales of fully electric cars have far outpaced rivals such as Tesla and Volkswagen, which are facing noticeably declining demand, reports Bloomberg.
Deliveries of electric models such as the BMW i4, iX1 and i7 increased by 41% in the first 3 months of the year compared to the first quarter of last year, BMW announced on Wednesday. The results helped the electric vehicle group’s sales increase by 28%.
These results of the Bavarian manufacturer are in stark contrast to the slowdown in demand for electric vehicles, especially in Europe, the cited source writes. Sales of electric cars retreated after governments withdrew economic incentives for purchases.
The vehicles accounted for about 15 percent of BMW’s total deliveries last year and are expected to rise to 20 percent this year. The company is aiming for a share increase this year with half a million electric vehicle sales, based on 15 fully electric models of its brands.
There is also worrying news for the Bavarian company. BMW faces stiff competition in China, its biggest market, where a Tesla-led price war is weighing on the industry. BMW and Mini sales in China fell 3.8 percent in the first quarter, while deliveries rose 5.5 percent in Europe and 1.2 percent in the US over the same period.
BMW i3, one of the electric models of the Germans, photo: Guliver/gettyimages
Volkswagen and Mercedes are stagnating or regressing in the electric car market
Volkswagen AG said its electric vehicle shipments fell 3 percent in the first quarter as gains in China failed to offset a 24 percent drop in Europe.
Mercedes-Benz said on Wednesday that its electric vehicle sales fell 8 percent in the first quarter, citing supply chain issues, the phasing out of the Smart Fortwo two-seater and sluggish demand in Germany after subsidy programs state were abandoned.
Earlier this month, , the world leader in this market segment, reported a year-over-year decline in global sales in 2020 for the first time in the company’s history.
2024-04-12 08:11:02
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