BMW has achieved a significant milestone in the electric vehicle market, ranking third in global plug-in car sales for the first half of 2024. This places BMW ahead of major competitors like Volkswagen, Mercedes-Benz, and Geely.
Key Takeaways
- BMW sold over 212,000 plug-in vehicles from January to May 2024.
- BYD and Tesla lead the market, with BMW in third place.
- BMW’s battery-electric vehicle sales increased by 34.1% compared to H1 2023.
- Combined sales of BMW’s electrified vehicles rose by 9.6% year-over-year.
BMW’s Impressive Sales Performance
According to data from EV Volumes, BMW sold over 212,000 plug-in vehicles (EVs and PHEVs) from January to May 2024. This impressive figure places BMW behind only BYD and Tesla in the global market. BYD leads with 1.2 million sales, accounting for 21% of all plug-ins sold worldwide, while Tesla follows with approximately 625,000 sales.
BMW’s success is even more notable when compared to other major automakers. Hyundai and Kia’s combined sales amounted to about 195,000 vehicles, while China’s Wuling sold 179,700 plug-in vehicles. Volkswagen, Mercedes-Benz, and Geely trailed behind with 157,200, 150,600, and nearly 146,000 sales, respectively.
Growth in Battery-Electric and Plug-In Hybrid Sales
BMW reported a total of 179,557 battery-electric vehicle sales in the first half of 2024, marking a 34.1% increase over the same period in 2023. The company’s combined sales of electrified vehicles, including both EVs and PHEVs, reached 269,065 units from January to June 2024. This represents a 9.6% increase compared to the first half of 2023.
BYD and Tesla’s Dominance
BYD’s rapid ascent in the plug-in vehicle market is noteworthy. In 2023, BYD sold over 3 million plug-in vehicles, a 62% increase from 2022. The company is on track to reach nearly 3.5 million combined EV and PHEV sales in 2024. While BYD’s pure EV sales have slightly declined in 2024, the surge in PHEV sales has more than compensated for this drop.
In July 2024, BYD sold around 130,000 full EVs, a 4% decrease from July 2023. However, the company sold over 210,000 PHEVs, a 62% year-over-year increase. Most of these sales occurred in China, but BYD also exported over 30,000 vehicles, a 65% increase from 2023. BYD aims to expand its global presence, with a focus on Europe, South America, and Asia.
Conclusion
BMW’s strong performance in the global plug-in vehicle market highlights the company’s commitment to electrification and innovation. As the market continues to evolve, BMW’s strategic focus on both battery-electric and plug-in hybrid vehicles positions it well for future growth and competition with industry leaders like BYD and Tesla.