BMW sells 10% BEVs in 2022 and is moderately optimistic about 2023

The premium car manufacturer BMW expects to hit its target of 10% fully electric sales this year at around 240 000-245 000 BEVscand could see that figure rising to about 400 000 next year, according to BMW Group CFO Nicolas Peter.

BMW also expects to reach the higher end of its 7-9% margin target for the cars business and sees slight sales growth in 2023,  Nicolas Peter also confirmed in a Monday roundtable.

Demand was recovering in China in the third quarter after lockdowns plagued the first half, the CFO added, describing it as a “rollercoaster” year in their largest sales market.

In Europe, order books were still full, but demand was weak in Germany and the United Kingdom and stronger in France, Spain, and Italy.

As already mentioned, the BEV sales in Belgium in August reached 16,9% of total sales, with the plug-in hybrid versions totaling a staggering 32,4%. As a result, more than half of the BMWs sold in August in Belgium had an electric motor on board. That’s an absolute record.

The gas issue and parts shortage

Asked how BMW was responding to the gas shortage in Europe, Peter said it had reduced its gas intake in Germany and Austria by 15% and expected to be able to cut it further.

Volkswagen and Mercedes-Benz have outlined contingency plans in the past week should their supplier networks fail to deliver parts, including increasing orders from suppliers outside the European countries most affected by the gas crisis.

Nicolas Peter did not specify whether BMW was doing the same but said it had developed a far closer relationship with its supplier network since the chip shortage.

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