BMW experienced a banner year for electric vehicle sales in the US market during 2023, sold 45,417 fully electric BMW and MINI models, representing 12.5% of its total US sales volume. This demonstrates the rapid adoption of EVs amid rising gas prices and climate awareness.
According to Sebastian Mackensen, President and CEO of BMW North America, two main factors powered the EV success – an expanded model lineup and close collaboration with dealerships.
BMW launched its first i5 electric sedan in November, rounding out its portfolio alongside the i4, i7, and iX crossovers. This gave US customers more choices to suit their needs while retaining BMW’s signature driving dynamics.
The growth trajectory accelerated in Q4 2023, with 14,374 EVs sold – a 65.4% increase year-over-year. For perspective, BMW moved just 8,689 electric models in Q4 of 2022. Full-year 2023 sales of 45,417 electrics represented a threefold jump over 2022 levels.
Mackensen credits the alliance between BMW headquarters and its US dealer network for smoothly facilitating the EV transition. By working together to educate sales staff and invest in charging infrastructure, the company eased customer anxiety around new electric technology.
This local partnership provides a blueprint as EVs go mainstream. Automakers must assure buyers of adequate training, service, and charging access across a vast national sales network. BMW simultaneously introduced new models and prepared dealers for an electric future.
The sales momentum extended to BMW’s MINI brand as well, with full-year US deliveries rising 13.5% to 33,497 units. The compact Mini Cooper SE has proven a hit among urban EV buyers wanting zippy performance and nimble handling.
Across BMW and MINI, over 70,000 electrified vehicles found US homes in 2023 – 20% of total sales. While still a fraction of BMW’s luxury combustion lineup, the rapid EV growth shows changing attitudes among status-conscious buyers.
As battery costs keep falling, expect BMW’s electric portfolio to expand across all segments. The company plans to invest $35 billion in EVs through 2025 and already unveiled concept designs for electric versions of the 5 Series and X1 crossover.
For legacy automakers like BMW, nailing the EV transition is critical to remaining relevant this decade. Judging by its 2023 electric vehicle sales success in America, BMW still has its sights locked firmly on the road ahead.