BMW announces record sales in 2023

The BMW Group (BMWG.DE) announced record sales, surpassing sales of 2.5 million units in 2023 and reaching its goal of securing a 15% market share in battery-electric vehicles.

Their latest report on Tuesday revealed a remarkable fourth quarter with sales hitting 718,778 cars, marking a 10.3% increase compared to the previous year. Overall annual sales witnessed a 6.5% rise. Notably, the U.S. market experienced the most significant growth, climbing by 9.4% to nearly 396,000 units, while China saw slower growth at 4.2% with sales reaching 824,932 units.

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

BMW announced in November that its order book was already booked for the initial months of the following year. Executives mentioned that, unlike some competing automakers, they didn't see any necessity to reduce prices.

The company is scheduled to disclose its full-year results on March 21.

By Michael Elkins | [email protected]

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