[Jason]

BMW of North America Reports Q4 2023 and Full Year 2023 U.S. Sales Results.

• BMW Sells 362,244 Vehicles in 2023, Setting a New Annual Record for the Brand in the U.S.
• Sales of BMW Electric Vehicles Nearly Triple in 2023, Now Account for 12.5% of Total Sales.
• Flagship 7 Series Sedan Sells 10,811 Units in its First Full Year in Market.
• MINI Sales Rise 4% in Q4 2023, 13.5% for the Full Year 2023.

Woodcliff Lake, NJ – January 3, 2024… BMW of North America today reported Q4 2023 and full year 2023 sales results for the BMW and MINI brands in the U.S.

BMW Brand.
In the fourth quarter of 2023, BMW sales in the U.S. totaled 107,881 vehicles, a 6% increase from the 101,738 vehicles sold in the fourth quarter of 2022. For the full year 2023, BMW sales increased by 9% on total sales of 362,244 vehicles compared to the 332,388 vehicles sold in 2022. This represents a new annual record for BMW sales in the U.S.

BMW Electric Vehicle Sales.
Following the market launch of the first-ever BMW i5 in November, BMW now offers four full battery electric vehicles in the U.S. – the BMW i4, BMW i5, BMW i7, and BMW iX. BMW sold 14,374 battery electric vehicles in the fourth quarter of 2023, a 65.4% increase over the 8,689 battery electric vehicles sold in the fourth quarter of 2022. For the full year 2023, BMW sold 45,417 battery electric vehicles, which represents 12.5% of total sales for the year.

In addition, the company sold 25,318 plug-in hybrid electric vehicles in 2023, bringing the total number of electrified vehicles sold to 70,735, or 19.5% of total sales.

“We attribute the success of 2023 to two main factors – the strength, breadth, and quality of our product line-up, and the close collaboration with our national dealer network,” said Sebastian Mackensen, President & CEO, BMW of North America. “We excite and inspire our customers, regardless of drivetrain. Whether they prefer to drive one of our highly efficient internal combustion vehicles, a fully electric vehicle, or plug-in hybrid electric vehicle, we are delivering the ultimate driving experience with every drivetrain, in every segment.”

MINI Brand.
MINI brand sales in the U.S. totaled 10,728 vehicles in the fourth quarter of 2023, an increase of 4% vs the 10,319 vehicles sold in the fourth quarter of 2022. For the full year 2023, MINI brand sales increased by 13.5% on total sales of 33,497 vehicles compared to the 29,504 vehicles sold in 2022.

[bavarianride]

Wow so 3-series is 20% of sales, and 4 sales is 30% of sales of 158k, among passenger cars.

I remember reading somewhere that at the peak of its popularity, the 3-series sold 500k worldwide, and 150k in US alone.

[Ibiza]

Concern is X3, X4, X5, X6 and X7 were all negative 2023 percentage compared to 2022. iX had big end of year incentives to move units.

[millerghr99]

Despite SUV (X series) missing compared to 2022, the X5 clearly hit the mark.

[Ibiza]

Originally Posted by millerghr99

Despite SUV (X series) missing compared to 2022, the X5 clearly hit the mark.

X5 was down over 10,000 units—how did this hit the mark?

[TheBingoBalls]

Not surprising. Coming out of COVID with all the disruptions and delays, BMW arguably had the best strategy with how to manage and move inventory whether it was lowering production of one model in favor of another model or coming out with sales programs (although not anywhere near what we were used to pre-COVID). And I would say BMW currently has the best or most balanced inventory line up.

[Ibiza]

The iX sales can not continue with the $9,900 incentives. This propped
up the light truck sales to only a -2% loss. As the iX is not SC manufactured, how is the SC PCD overwhelmed with X3 through X7 sales down for 2023 that German manufactured vehicles are now excluded?

Doesn’t BMW NA realize that the EV market penetration has hit a plateau in the United States with acceptance? Just putting out a feel good spin.

Great for the high sales numbers, but growth is from non US manufactured vehicles and lower profit margin models such as the X2–which is not good news due to higher transportation costs to import to the US.

[Burrcold]

The 4er outsells the 3er?? I had no idea.

[Scrapula]

The new 5 wasn’t even available until November. Is that 2 month data comparing against 3 months of the previous year?

[Bimmerfun82]

Impressive results. I wonder if BMW will slow the price increases on the X5 and X7 because there’s a clear shifting down to the cheaper stuff.

iX sales growth is huge but still very small relative to Tesla model X&Y. Once Tesla charging standard is adopted and their chargers open to BMW, this will likely change.

On the strategy of success, the depth and breadth of the portfolio is unquestionable. I wonder what the close collaboration with dealers means. Most dealers seem clueless about the products or the future. Case in point - the Z4 manual SOP is March - two months away. And our dealer doesn’t have a clue about it. Anyway this is their way of saying sales and service is “appreciated” by the brand.

[millerghr99]

Originally Posted by Ibiza

X5 was down over 10,000 units—how did this hit the mark?

72k sales, the largest for BMW for any one model.

[Ibiza]

Originally Posted by millerghr99

72k sales, the largest for BMW for any one model.

But down from 2022 of 83k unit sales. iX most likely canabalized 2023 X5 sales with higher incentives.

[picaso]

Originally Posted by Scrapula

The new 5 wasn’t even available until November. Is that 2 month data comparing against 3 months of the previous year?

I’m assuming there were overlap in deliveries between generations unless there was a hard stop sale way prior, some people specced and ordered the previous model at a delivery rate to overlap.
(My naive assumption)

[Bimmerfun82]

Originally Posted by Ibiza

But down from 2022 of 83k unit sales. iX most likely canabalized 2023 X5 sales with higher incentives.

This is the biggest problem for BMW in winning the EV share game - how to compete on price without cannibalizing X5-X7 sales. The obvious solution would be to offer the same vehicles with an alternate drivetrain in the same way as the i5/5. But it’s less margin and introduces complexities into - and likely exceeds the capacity of - the Spartanburg plant. That said, I like their approach. It stratifies the portfolio, and PHEV or mild hybrid makes more sense on a less aerodynamic, more versatile X5 or X7.

[Cortexiphan]

Originally Posted by Burrcold

The 4er outsells the 3er?? I had no idea.

That's mainly i4.

[Car-Addicted]

Can't think of any 7 Series Sedans that I have seen, including at the two dealership I go to?

[Scrapula]

Originally Posted by Car-Addicted

Can't think of any 7 Series Sedans that I have seen, including at the two dealership I go to?

The i7 is there. I’ve seen a few of those.

[GolfCoyote]

Is this why it’s taking so long to build my car? There’s a pile up of others they need to get through from a record sales year? Lol

[Burrcold]

Originally Posted by Cortexiphan

That's mainly i4.

Even with the i4, it still surprises me.

[DanG]

Originally Posted by Burrcold

The 4er outsells the 3er?? I had no idea.

That is because of the i4.

[Burrcold]

Originally Posted by DanG

That is because of the i4.

See above.

[M2siast]

BMW is knocking it out of the park.
Great job all around. Finally a fleet of cars that are desirable by many, acclaimed by professional reviewers and critics, and reliable, while being competitively priced (cheaper than Audi and Mercedes in each class). What a feat! Objectively great management.