How did vehicle sales perform for BMW in Q1?

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BMW Reports Dip in First-Quarter Vehicle Sales Amidst Regional Declines

BMW experienced a 1.5 per cent year-on-year decline in overall vehicle sales during the first quarter. This overall decrease was influenced by significant downturns in key markets, with sales in China sliding by 6.6 per cent and a 1.9 per cent decrease recorded in Europe.
Decline in European and Chinese Markets

The European market saw a 1.9 per cent reduction in vehicle sales, a trend BMW attributed to persistent inflation and high interest rates within the region. Similarly, China experienced a more substantial 6.6 per cent drop in sales. BMW noted that the after-effects of the coronavirus pandemic in China dampened business development in the Asian market.
Growth in the United States Market

In contrast to the declines in Europe and China, vehicle deliveries in the United States showed a positive trend, increasing by 11.4 per cent. This growth in the US market helped to partially offset the losses experienced elsewhere.
Significant Rise in Electric Vehicle Sales

Despite the overall dip in sales, the group reported a substantial increase in demand for fully electric vehicles. Sales of these vehicles more than doubled during the first quarter, now accounting for 11 per cent of all group deliveries. This indicates a strong shift towards electrification within BMW's customer base.

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How did vehicle sales perform for BMW in Q1?

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