BMW Sales Dip in 2022
Small decrease balanced by higher sticker prices.
Core brand sales dropped, blamed on pandemic lockdowns in China and European inflation.
IMAGE: BMW
BMW Group’s 2022 sales ticked down by 100,000 units to end the year at 2.4 million vehicles, Reuters reported from a BMW executive interview ahead of the brand’s planned Jan. 10 release of complete annual results.
The German carmaker offset the dip with higher unit prices.
It meanwhile more than doubled its electric vehicle production proportion to nearly 10% of total sales, and aims for battery-electric cars to make up 15% of sales this year, Reuters said.
BMW’s core brand sales dropped 100,000 units for the year, a decrease it blamed on pandemic lockdowns in China limiting supply and European inflation winnowing consumer demand.
Originally posted on Auto Dealer Today
More Industry
World EV Adoption Set to Grow
A new report says the segment, despite recent setbacks in some regions, is poised for acceleration as many countries look to reduce pollution.
Read More →
Black Book: Weekly Market Update
Wholesale automotive auction business stayed steady last week as bidders encountered lower prices, analysts observed.
Read More →
Pricing Transparency Drives Purchase Consideration
An annual study by JD Power found that clear pricing matters to consumers on automaker websites, so much so that it increases their purchase consideration.
Read More →
Black Book: Weekly Market Update
Used-vehicle market depreciation was the prevailing story in the wholesale market last week.
Read More →
Smaller Is Looking Better
A growing number of Americans in the market for a new vehicle are opting for more affordable options, not waiting for market stability to bite the bullet.
Read More →
U.S. EV Market Slowly Stabilizes
U.S. electric-vehicle interest is slowly stabilizing since a major dip in sales after last year's end of the federal EV tax credit, and hybrids remain the leading electrified power train.
Read More →
Global EV Market Entering New Phase
Automakers are making investments to lower battery costs and optimize production to meet changing consumer needs.
Read More →
Black Book Weekly Market Update
The holiday weekend, not surprisingly, put a drag on wholesale automotive activity last week, analysts observed.
Read More →
Auto Affordability in Context
Cox Automotive points out the complex circumstances that have led to eye-popping vehicle prices.
Read More →
Black Book: Weekly Market Update
Automotive auction inventory increased last week, giving choosy bidders even more leeway.
Read More →