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BMW Predicts Slight Growth In 2023 Despite Q1 Sales Decline

  • Written by : Ashton G. Curran
  • Date Published : 2023-04-12
  • Date Updated : 2023-04-12
  • Category / Tag : bmw
BMW Predicts Slight Growth In 2023 Despite Q1 Sales Decline
BMW, the German multinational automotive company, announced on Tuesday in Munich that it sold 1.5% fewer cars worldwide from January to the end of March compared to the same quarter last year....

Global sales fell to around 588,000 vehicles.

In China, deliveries of almost 195,000 cars were even 6.6% below the previous year, while sales of 216,000 cars in Europe were 1.9% down on the previous year.

On the other hand, sales in the USA increased by 11.2% to almost 90,000 cars.

The company, however, highlighted a clear upward trend worldwide in March.

According to the company's Chief Sales Officer, Pieter Nota, a stabilization of the Chinese economy is expected in the course of the year, and BMW is on track for slight growth in 2023 as a whole.

Nota expects that fully electric vehicles and models from the upper premium segment will be the main growth drivers.

BMW was able to increase sales of fully electric cars by 83%, selling almost 65,000 electric vehicles in the first quarter.

The BMW brand doubled its e-car sales to 56,000 vehicles.

The company is successful in maintaining its dynamic pace in ramping up electromobility in the first quarter.