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BMW’s fully electric car sales are on track to double this year

BMW's fully electric car sales are on track to double this year

November 4, 2021: -The BMW Group’s sales of electric vehicles grew by 121.4% in the first nine months of 2021, reaching 59,688 units, with the German carmaker stating Wednesday that electric mobility was “becoming an increasingly vital growth driver and success factor” for the company.

In total, the Munich-headquartered firm sold 231,575 all-electric and plug-in hybrid vehicles between January and September, a jump of 98.9%. By comparison, in the third quarter of 2021 alone, Elon Musk’s Tesla says it delivered 241,300 vehicles.

BMW’s electric vehicle figures were contained in an earnings report published Wednesday. Net profit for the third quarter of 2021 amounted to 2.58 billion euros, an increase of 42.4%. Despite deliveries in its automotive segment dropping by 12.2% compared to the third quarter of 2020.

“In the third quarter of 2021, operations were increasingly impacted by supply bottlenecks for semiconductor components,” the company said. “Although this resulted in production volume shortfalls and lower sales volumes during the period from July to September 2021, the impact was more than offset by positive price effects for new and pre-owned vehicles.”

Back on the EV front, the BMW Group wants fully electric vehicles to represent at least 50% of its deliveries by 2030.

BMW is one of several healthy known companies pushing an electrification strategy. In March, Volvo Cars said it planned to become a “fully electric car company” by 2030.

In July, the Volkswagen Group said half of its sales were expected to be battery-electric vehicles by 2030. By 2040, the company said almost 100% of its new cars in major markets should be zero-emission.

This shift to electric mobility comes when significant economies worldwide are attempting to reduce the environmental footprint of transportation.

The U.K., for example, wants to stop the sale of new diesel and gasoline cars and vans by 2030. It will require, from 2035, all latest cars and vans to have zero tailpipe emissions.

Elsewhere, the European Commission, the EU’s executive arm, is targeting a 100% reduction in CO2 emissions from cars and vans by 2035.

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BMW’s fully electric car sales are on track to double this year