BMW USA expects record sales in 2024

With 253,840 cars delivered in the first nine months of the year, BMW is down 0.2% in the US. Still, the company is confident that the final quarter of 2024 will be strong enough to tip the scales in its favor. Sebastian Mackensen, CEO of BMW of North America, expects the luxury brand to post record annual sales by surpassing its 2023 performance.

In conversation with Automotive NewsMackensen admitted that August and September were bad for business due to the problem with the integrated braking module. Additionally, BMW overestimated the adoption of electric vehicles in the United States. Despite these hurdles, the company expects to end 2024 with good results and set a new sales record.

In the first three quarters of the year, electric vehicles accounted for nearly 15% of all U.S. deliveries. Compared to the same period in 2023, BMW USA electric sales increased by 20%. According to Mackensen, the company has managed to deliver more zero-emission cars without reducing prices. Instead, cheaper rental contracts were introduced.

With the goal of achieving record sales in 2024, it certainly helps that customer deliveries of the new X3 are underway. Another boost would likely come from the plug-in hybrid, but the X3 30e xDrive isn’t coming to the US, at least for now. Even last year, the G01 was still the most popular product in the US until September. The luxury crossover was the best-selling model with 49,908 units, ahead of the larger X5 with 46,025 units. The last place on the podium was taken by the 4 Series with 31,354 vehicles.

Globally, BMW is down 2.3% so far this year. Initially, the Munich car manufacturer hoped for sales that would exceed those of 2023. However, the brake malfunction also affects 320,000 new cars that have not yet been delivered. As a result, the 2024 outlook has taken a hit as BMW expects sales to be slightly below last year.

Source: Automotive News