In 2023, BMW faced challenges in the German home market, trailing behind Mercedes and Audi, holding the third position in premium brands. Despite achieving record-breaking success in various global markets, like the United States, the German market remained elusive. However, December brought a positive turn of events for BMW, marking the first time the company led the German premium market. With 23,883 new registrations, BMW outperformed Mercedes (19,946) and Audi (19,881), securing a substantial lead.
The remarkable aspect was not only the change in ranking but also the growth defying the prevailing trend. In a market that contracted by 23.0 percent to 241,883 units compared to the previous year, BMW experienced a 6.6 percent increase in sales. MINI and Rolls-Royce also exhibited growth, with the British luxury brand achieving an impressive 40.7 percent surge. This exceptional performance stood out amidst the overall decline, with both Audi (-10.4%) and Mercedes (-30.6%) falling short of their previous year’s figures.
Despite BMW’s robust performance in December, the annual standings for 2023 remained unchanged. Mercedes maintained its lead in the premium segment with 277,352 new registrations, followed by Audi with 246,880, and BMW with 233,160 units. All three brands exhibited double-digit percentage growth, surpassing their previous year’s values. Notably, BMW, with an increase of 11.2 percent, closely aligned with its 2022 figures. In the broader market context, Volkswagen secured the top spot with a 7.9 percent increase, reaching 519,089 new registrations in 2023, as is customary in the country.
The U.S. market finished strong the year with record sales. For the BMW brand, U.S. sales reached 107,881 vehicles in Q4 2023, marking a 6% increase from the 101,738 vehicles sold in the same period of 2022. The full-year 2023 saw a 9% growth, with a total of 362,244 vehicles sold compared to 332,388 in 2022, setting a new annual record for BMW sales in the U.S. With inventory levels back to normal, and chip shortage not being an issue anymore, 2024 could bring new sales records for the brand. But the true test will be in 2025 when we will get the first “new” Neue Klasse model – the BMW iX3.
[Source: BimmerToday]
First published by https://www.bmwblog.com
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