BMW pulls away from Mercedes and Audi in EV race

BMW pulls away from Mercedes and Audi in EV race

Automotive News Europe — 2024-07-10

Automotive Industry

First-half deliveries of full-electric cars were up 22% at BMW, but fell 25% at Mercedes and were flat at Audi.

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% to 107,933 units through June 2024 compared to a year ago (2023), the company said on 10 July 2024. BMW said its attractive product portfolio offset a challenging market.

The results contrasted sharply with those of Mercedes-Benz, which said its wholesale deliveries of passenger EVs plummeted 25% 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 Group said that full-electric sales in Europe and the US declined 15% in the first half of 2024. EV demand in China has been stronger, rising 45% 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 automaker 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.