BMW Q3 Deliveries Spike 5.8%, With Fully-Electric And MINI Vehicle Sales Up 80%

Bayerische Motoren Werke AG (OTCPK: BMWYY) said it recorded 621,699 vehicle deliveries in third-quarter (Q3) for 2023.

That's a 5.8% increase Y/Y.

In particular, the automaker sold 93,931 fully-electric BMW and MINI vehicles (+79.6% Y/Y).

The BMW brand was able to more than double its sales of fully electric vehicles in Q3, with 83,211 units delivered to customers.

Sales in China fell 1.8%, while it rose 7.8% in the U.S. and 12.9% in Europe. 

Outlook: The company expects strong delivery growth in FY23, including the upper price segment and fully-electric vehicle models, with electric vehicles expected to account for 15% of total vehicle sales in the year.

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“The sales success of the third quarter shows that our customers appreciate our wide range of attractive products across all drive technologies. Our fully-electric products, in particular, are benefiting from high demand worldwide – as seen in our BEV sales, which significantly outperformed the total BEV market in the first nine months. Overall, we are on track to meet our growth targets for 2023,” said Pieter Nota, Member of the Board of Management of BMW AG responsible for Customer, Brands, Sales.

Also Read: EU Investigation Into Chinese EV Subsidies May Backfire, BMW CFO Warns: Report

Price Action: BMWYY shares closed higher by 1.45% at $33.85 on Monday.