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BMW Group's Strong Growth in Fully-Electric Vehicles and Upper Premium Segment in First Half of 2024
The BMW Group has marked an impressive start to 2024 with robust growth across its fully-electric vehicle lineup and upper premium segment offerings. In the first half of the year, BMW achieved a significant milestone by delivering 179,557 fully electric vehicles (BEVs), representing a remarkable 34.1% increase compared to the previous year. This surge underscores BMW's commitment to sustainable mobility and innovation in electric vehicle technology.
Expanding Market Presence and Performance
Overall, the BMW brand reported a 2.3% growth year-over-year with 1,096,486 units sold in the first half of 2024. This growth outpaced traditional competitors and solidified BMW's position in the European market, where it gained substantial market share. The BMW Group, encompassing BMW, MINI, and Rolls-Royce brands, delivered a total of 1,213,359 vehicles worldwide during this period, reflecting a resilient performance amidst a challenging global market environment.
Customer Preference for Upper Premium Segment and Electrified Models
Jochen Goller, member of the BMW AG Board of Management, highlighted the increasing popularity of models from the upper premium segment alongside fully-electric vehicles. The BMW 7 Series, in particular, saw a notable sales growth of 22% compared to the previous year, driven by customer demand for luxurious yet technologically advanced vehicles. Additionally, the BMW X1 and BMW 3 Series also recorded strong sales performances, contributing to the brand's overall success.
Innovation and Future Readiness
BMW M GmbH, renowned for its high-performance vehicles, introduced the electrified M5 sedan during this period, generating significant interest among enthusiasts. This move aligns with BMW's strategy to integrate electrification into its performance-oriented M lineup, catering to evolving consumer preferences for both power and sustainability.
Global Expansion and Market Dynamics
Looking ahead, the BMW Group remains optimistic about the second half of 2024, buoyed by the full availability of new models such as the BMW 5 Series and MINI Cooper from the New MINI Family. The strategic deployment of diverse drivetrain technologies across BMW, MINI, and Rolls-Royce brands positions the group strongly to meet varied customer preferences on a global scale.
Conclusion
The BMW Group's performance in the first half of 2024 underscores its leadership in both electric mobility and the upper premium segment. With continued innovation and a robust product pipeline, BMW is poised to sustain growth and deliver exceptional value to customers worldwide.
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