BMW of North America established a new quarterly benchmark in the third quarter, delivering 4,337 battery electric vehicles. The automaker is expanding its EV portfolio, expecting to boost sales even further with the BMW i7, set to arrive at US dealerships in the fourth quarter.
BMW achieves strong Q3 sales as EV deliveries pick up
In the third quarter, BMW’s overall sales grew 3.2% as the luxury automaker continued to see strong demand for its fully electric models.
BMW’s Chief Financial Officer, Nickolas Peter, said last week the automaking group had a “turbulent year” globally with lockdowns in China, lingering supply chain issues, and rising energy costs from the war in Ukraine.
Peter answered questions about energy supply by saying, “the gas issue will not have any direct impact on us this year,” although BMW expects to continue seeing pressure this year due to rising costs.
In the United States, BMW has no issues selling EVs, the only challenge is keeping up with demand. However, the automaker also believes it will take a massive leap in 2023 due to soaring demand for electric vehicles. As CEO of BMW North America, Sebastian Mackensen states:
The customer demand and enthusiasm for BMW’s electric vehicles has been there from the start.
After retiring the BMW i3, the first of BMW’s “i-series,” in January 2022 after a nine-year run, the German automaker revamped its electric brand. BMW currently offers two fully electric models in North America, the BMW iX UV and the BMW i4.
Increased availability of these models “fueled sales growth” during the third quarter as BMW delivered 4,337 pure EVs in Q3, including 1,727 iX models. The automaker expects US EV sales to continue picking up as Mackensen explains:
With the support of our dealer partners, we expect this momentum to accelerate through the fourth quarter, resulting in a strong finish to the year.
BMW’s first fully electric 7-series model (its largest yet), the i7, will arrive at US dealerships in the fourth quarter. The full-sized EV sedan takes luxury driving to the next level with massaging Merino leather seats, a Panoramic Sky Lounge LED roof, and much more.
Depending on when the i7 begins arriving, it may or may not show up in BMW’s fourth-quarter sales, but it should make a difference in 2023 as the automaker expects a big year for EV deliveries.