BMW hit a significant milestone after promoting over 50,000 EVs within the US in 2024 for the primary time. Regardless of larger electrical car gross sales for the total yr, BMW’s feat is probably not as large because it appears. Right here’s why.
BMW EV gross sales within the US prime 50,000 in 2024
With one other 13,876 absolutely electrical automobiles 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 yr, up 12% from the 45,417 offered in 2023. One thing price 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 without doubt one of the solely automakers to this point to report decrease EV gross sales within the fourth quarter. Final week, Ford and GM each reported file This fall and 2024 gross sales. GM topped its cross-town rival with over 114,400 electrical automobiles offered final yr (+50 YOY), in comparison with Ford’s practically 97,900 (+35% YOY).
Abroad automakers, like Hyundai and Kia, are shortly outpacing BMW. The South Korean auto giants posted one other file yr 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 file deliveries, delivering 10,241 EVs in complete final yr.
Though it might not appear large, Lucid is a direct competitor to BMW. Final yr, 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 difficulty. With one other 14,183 automobiles delivered in This fall, Rivian’s 2024 supply complete 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 have been down 11% in 2024, with 15,383 models offered.
BMW additionally sells three different electrical automobiles within the US: the i4, i5, and i7. Final yr, the i4 was BMW’s top-selling mannequin, with over 23,400 models offered. Nonetheless, gross sales have been solely up 3% in comparison with 2023 (22,583 models). BMW’s i5 notched essentially the most progress, with gross sales up 310% in 2024, however solely 8,763 fashions have been offered.
Electrek’s Take
Though year-over-year gross sales progress remains to be an accomplishment, with a wave of recent EVs hitting the market, will BMW be capable to 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 are going to 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% quicker charging, and a 25% general enchancment in car effectivity.” The primary BMW Neue Klasse mannequin might be a crossover SUV, with 5 extra set to launch by 2028.
One factor is for certain: extra superior EVs at a lower cost will quickly be accessible. Keep tuned for extra.
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