BMW Tops Global Premium Market, Outshines Tesla & Mercedes!

BMW's strategic triumph in 2023: Unraveling the German automaker's journey to global leadership in the premium sector, outperforming Tesla and Mercedes with a surge in EV sales.

BMW Tops Global Premium Market, Outshines Tesla & Mercedes!

Wednesday January 31, 2024,

3 min Read

In 2023, According to Paultan BMW achieved a remarkable feat in the automotive industry. The company successfully retained its position as the world's number one premium car brand, surpassing rivals like Mercedes, Audi, and Tesla. BMW's success can be largely attributed to its significant sales figures and its growing popularity in the electric vehicle (EV) market.

Last year, BMW set a new record in its sales history by delivering over 2.55 million vehicles globally, which includes not just BMW cars but also MINI and Rolls-Royce vehicles. This number marks a 6.5% increase from the previous year. The last quarter of the year was particularly strong, with sales rising by 10.3%.

A key highlight of BMW's success is its impressive performance in the electric vehicle sector. The company focused on increasing the sales of fully electric vehicles, aiming for these to make up 15% of their total sales. They achieved this goal with a remarkable 93,931 fully electric BMW and MINI vehicles sold in just the third quarter of 2023. This was a significant jump of 79.6% compared to the same period in the previous year. BMW's commitment to electromobility is evident in these numbers, indicating strong customer interest in their electric models.

BMW's M brand, known for high-performance vehicles, also saw a notable increase in sales. In the third quarter alone, BMW M sold nearly 49,000 units worldwide, a 13.2% increase from the previous year. This was boosted by the introduction of new models like the BMW XM.

The MINI brand, part of the BMW Group, also contributed to the overall success. The brand sold 70,384 vehicles in the third quarter, up by 2.6%. MINI is progressively moving towards an all-electric lineup, which includes popular models like the MINI Cooper SE.

Rolls-Royce, another prestigious brand under the BMW Group, is gearing up for the launch of the Spectre, its first fully-electric vehicle. Despite discontinuing some older models, Rolls-Royce sold 1,374 vehicles in the third quarter of 2023.

BMW Motorrad, the motorcycle division of BMW, continued to see high demand, selling over 52,000 motorcycles and scooters in the third quarter, a slight increase from the previous year.

In terms of regional sales, BMW's performance varied. In China, there was a slight decrease in sales, while the U.S. and Europe saw increases. The U.S. experienced a 7.8% rise, and Europe had a 12.9% increase in BMW and MINI vehicle sales.

BMW's continued success is a result of its strategic focus on sustainability, innovation, and efficient resource management. The company's commitment to electrification and digitalisation positions it well for future growth and challenges in the automotive industry​​​​​​.