BMW hit a significant milestone after promoting over 50,000 EVs within the US in 2024 for the primary time. Regardless of larger electrical automobile gross sales for the complete 12 months, BMW’s feat will not be as massive because it appears. Right here’s why.
BMW EV gross sales within the US prime 50,000 in 2024
With one other 13,876 totally electrical autos offered in This fall, BMW’s EV gross sales reached over 50,000 within the US for the primary time.
Within the US, BMW offered a complete of fifty,981 EVs final 12 months, up 12% from the 45,417 offered in 2023. One thing value noting is that BMW’s fourth-quarter EV gross sales fell 3.5% from 5,274 in This fall 2023 to 13,876.
BMW is among the solely automakers to date to report decrease EV gross sales within the fourth quarter. Final week, Ford and GM each reported report This fall and 2024 gross sales. GM topped its cross-town rival with over 114,400 electrical automobiles offered final 12 months (+50 YOY), in comparison with Ford’s practically 97,900 (+35% YOY).
Abroad automakers, like Hyundai and Kia, are rapidly outpacing BMW. The South Korean auto giants posted one other report 12 months within the US with new EV fashions rolling out in key segments.
In the meantime, pure luxurious EV gamers like Lucid and Rivian are additionally stealing market share. In 2024, Lucid had four straight quarters with report deliveries, delivering 10,241 EVs in whole final 12 months.
Though it could not appear big, Lucid is a direct competitor to BMW. Final 12 months, it solely offered one mannequin, the Lucid Air. Now, Lucid is launching its first electrical SUV, the Gravity.
Rivian’s deliveries additionally hit a brand new excessive for 2024 within the fourth quarter after overcoming a provide chain challenge. With one other 14,183 autos delivered in This fall, Rivian’s 2024 supply whole reached practically 51,600. The EV maker is now ramping up manufacturing at its Regular, IL manufacturing plant after shutting it down for upgrades final spring.
How will this impression BMW iX gross sales? After slipping one other 20% within the fourth quarter, BMW iX gross sales had been down 11% in 2024, with 15,383 items offered.
BMW additionally sells three different electrical automobiles within the US: the i4, i5, and i7. Final 12 months, the i4 was BMW’s top-selling mannequin, with over 23,400 items offered. Nonetheless, gross sales had been solely up 3% in comparison with 2023 (22,583 items). BMW’s i5 notched essentially the most development, with gross sales up 310% in 2024, however solely 8,763 fashions had been offered.
Electrek’s Take
Though year-over-year gross sales development remains to be an accomplishment, with a wave of latest EVs hitting the market, will BMW be capable of sustain in 2025?
Jeep is releasing its first luxurious electrical SUV. Volvo, Kia, and Hyundai are launching flagship three-row electrical SUVs. Lucid’s Gravity is rolling out. After which, in 2026, we’ll lastly see Rivian’s lower-cost R2 electrical SUV.
BMW believes it has a solution with its Neue Klasse, or “New Class” of EVs, which can hit US showrooms in 2026. The corporate’s first Neue Klasse EV rolled off the manufacturing line final November because it prepares for a brand new period.
BMW claims its new EV collection can have “30% extra vary, 30% sooner charging, and a 25% general enchancment in automobile effectivity.” The primary BMW Neue Klasse mannequin shall be a crossover SUV, with 5 extra set to launch by 2028.
One factor is definite: extra superior EVs at a cheaper price will quickly be obtainable. Keep tuned for extra.
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