Last year, the total EV sales for the BMW Group was at 215,755, which accounted for more than double the sales made in 2021. These sales came from the company’s BMW and Mini models. In addition, the BMW Group managed to deliver the 500,000th purely electric vehicle to the owner by the close of 2022.
BMW made 103,855 BEV sales in 2021. As a result, 2022 represents a 107.7% increase. Out of the total of about 2,400,000 vehicles sold by the Group in 2022, about 9% were electric. In 2023, BMW intends to sell 15% all-electric vehicles.
The company maintained its top spot in the world’s luxury class last year, selling 2,100,692 cars overall, down by 5.1%. In electric automobiles, the BMW model also experienced significant growth. For the entire year, electric vehicle sales, including PHEVs, increased by 35.6%, totaling 372,956 units. MINI brand sales were at 292,923, a 3% decrease from vehicles sold in 2021. However, in 2022, the electric Mini brand vehicles sales, including PHEVs, were 60,839, an increase of 14.3% of vehicles, or about 21% of all MINI global sales.
BMW Group has high hopes for the year 2023 and aims to adhere to the plan, making profits throughout the year. Its main focus is to continue to increase the rate of EV adoption. The turning point of 2023 is ensuring that fully electrified vehicles account for 15% of overall vehicle sales. With BMW i5 being introduced toward the end of the year, BMW is definitely moving closer to electrifying all their vehicles.
Simultaneously, the company is advancing the digitalization of both its sales and marketing strategies. Moving forward, the BMW Group will depend on direct selling in 24 markets in Europe with the help of sales agents in order to provide a smooth transition in between the online and physical client experiences. The overall goal of this newly formed agent model is to increase customer satisfaction, elevate BMW luxury brands and connect with the tech-savvy clients.
BMW’s agency model will also be used to promote transparency in pricing and guarantee uniformity of product distribution throughout all distribution channels. This year, BMW Group will establish guidelines for the launch of the MINI brand in 2024, followed by the BMW brand in 2026. In addition, the retail associates will be closely involved in the implementation process.
One of the key components in realigning sales is the My BMW/MINI app; it leads customers into the best market experience, thanks to its various features and simple, useful links. Every day, 2 million users in roughly 50 markets use the My BMW/MINI app as a gateway to personalized client communication.
As other companies such as Cenntro Electric Group Ltd. (NASDAQ: CENN) also strive to consolidate their positions in the market segments they have selected, EV penetration is likely to progress around the world at an increasing pace.
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