BMW Takes EVs Into Higher Gear
German carmaker’s BEV sales jump encourages more investment.
BMW Group plans to launch two more fully electric models in the second half of the year, including the i5 M60 sedan.
IMAGE: BMW Group
BMW is doubling down on electrification after second-quarter results showed sales of fully electric vehicles more than doubled.
Battery-electric vehicle sales totaled more than 88,000 units for the quarter, up 118% year-over-year, BMW Group reported.
“Strong sales development in general and especially for our fully-electric vehicles, shows that we have the right products on the market at the right time. The BMW Group will continue its successful ramp-up of electromobility at a high pace in the second half of the year,” said Pieter Nota, member of the Board of Management of BMW AG responsible for customer, brands and sales.
It said it will increase investment in EV production at a faster rate than it had planned.
All deliveries groupwide rose 11.3% year-over-year, though net profit fell 2.9%, on target with analyst forecasts.
The group plans to launch two more fully electric models in the second half of the year: the i5 M60 and the i7 M70 sedans.
Originally posted on Auto Dealer Today
More Industry
Pennsylvania Dealership Under New Retailers
The sale of the Chrysler Dodge Jeep Ram store puts a family auto group on a leaner path as first-time dealers take the helm.
Read More →
Battery Storage Takes Priority Over EVs
U.S. automakers are prioritizing battery energy stationary storage over electric-vehicle production as the consumer demand for EVs lags the rest of the world.
Read More →
Auto Dealers Feel Better But Not Great
A second-quarter Cox Automotive poll of franchised retailers and independents found better views of the current market after a good spring but anticipation of third-quarter storminess.
Read More →
New-Vehicle Sales Picture Relative
A May forecast is complicated by last spring’s trade tariff effects on auto retail. Despite continued hard realities, many consumers took advantage of ways to bite the bullet.
Read More →
Auto Group Acquires Third Nissan Rooftop
Iowa-based Coleman Automotive Group recently acquired its seventh dealership, McGrath Nissan, which it renamed Nissan of Elgin.
Read More →
April Less Affordable
Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.
Read More →
Building an Extraordinary F&I Agency
Work to determine your specialized talent, because that fact will determine everything about your agency’s future.
Read More →
Recipe for Compliance
The secret to both amazing barbecue and compliance is the same: understanding the basics and committing to a process.
Read More →
EVs Getting More Attractive
A growing percentage of U.S. consumers are open to switching and fewer are adverse to the idea, according to a recently completed survey. That’s despite the end of a tax break.
Read More →
EV Sales Drop in April Following Surge
North American electric-vehicle sales were down 28% year-over-year, a sharp contrast from global EV sales growth of 6%.
Read More →