In 2023, BMW surpassed all other luxury automakers by a significant margin, marking a record-setting year. An impressive 2,253,835 units were sold last year, as reported by Automobile News. This figure sets a new milestone for the German automaker, showcasing a notable seven per cent increase in sales on YoY basis compared to the previous year.
Securing the second position in the luxury automobile sales race, Mercedes-Benz recorded a cumulative volume of 2,043,800 vehicles, maintaining a figure close to what was managed in 2022. The stagnation in growth is attributed to shortage of components and the arrival of new models across different segments as part of a major transition.
Despite this, similar to BMW, Mercedes experienced a remarkable surge in zero-emission vehicle sales, reaching 222,600 units and marking a substantial 73 percent increase over its volume figures the previous year as both brands have prioritised selling EVs across different price ranges. Audi secured the third position with a notable 18 per cent increase, reaching total sales of 1,895,240 units.
In the fourth spot, Tesla Inc, the American EV maker, exhibited a notable 38 per cent YoY positive growth, with sales totalling 1,808,581 electrified cars. While the sales figures for Lexus and Volvo in 2023 have not been disclosed, there is an expectation that they will secure the fifth and sixth positions respectively.
BMW’s popular EV range comprises the all-electric i7 and the XM Label Red hybrid replacing the M1 have played a substantial role, contributing 14 per cent to the total volumes. In 2023, 330,956 battery-powered BMW vehicles were retailed, constituting 14 per cent of the overall sales and reflecting a remarkable 92 per cent YoY jump.
Mini and Rolls-Royce, both subsidiaries of BMW, contributed an additional 301,506 vehicle sales. As a whole, the BMW Group recorded a total of 2,555,341 cars in 2023, with an appreciable increase of 6.5 per cent compared to 2022. Just in the EV space, China’s BYD (Build Your Dreams) outsold Tesla to become the largest electric vehicle maker in the world due to consistent volume surge in its home market as well as abroad.
