BMW is bucking the trend in Europe, where sales of battery-powered cars have flattened or diminished
BMW extended its lead over German rivals in the shift to electric vehicles with a jump in the second quarter as Mercedes-Benz and Audi struggled.
Deliveries of BMW’s battery-powered models such as the i4 and iX1 surged 22 per cent to 107,933 units through June compared with a year ago, the company said on Wednesday (Jul 10). BMW said its attractive product portfolio offset a challenging market.
The results contrasted sharply with those of Mercedes-Benz Group, which said its wholesale deliveries of passenger EVs plummeted 25 per cent to just 45,800 units. The Stuttgart-based carmaker cited weaker demand in major economies and heavy discounts in the EV market.
BMW is bucking the trend in Europe, where sales of battery-powered cars have flattened or diminished as a share of overall deliveries in recent months. After years of growth, demand for EVs has softened since governments began dialing back or halting financial incentives for purchases.
At Audi, EV deliveries to customers in the second quarter stayed flat at 41,000 units, while parent Volkswagen said that full-electric sales in Europe and the US declined 15 per cent in the first half of this year. EV demand in China has been stronger, rising 45 per cent in the same period.
BMW is banking on EV sales after rolling out several new battery models, including the high-volume i4 sedan and more recently the iX2 crossover. The Munich-based company moved earlier in the EV shift than many competitors with the development of the i3 city car, garnering deeper experience with battery technology and working through mixed reception of the model. BLOOMBERG
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