BMW Charges Forward: Q1 Sees Deliveries with 27.9% Surge in Fully-Electric Vehicles
Portfolio Pulse from Lekha Gupta
Bayerische Motoren Werke AG (OTC:BMWYY), also known as BMW Group, reported a 1.1% year-over-year increase in vehicle deliveries in Q1, totaling 594,671 vehicles. Notably, deliveries of fully-electric vehicles surged by 27.9% to 82,700 units. The company saw strong growth in Europe and the high-end premium segment, although Rolls-Royce deliveries fell by 7.0%. BMW Group's electrified vehicle sales also rose by 11.0%. The company expects a slight increase in automotive deliveries in 2024, with significant growth in fully-electric vehicles and high-end premium models.
April 10, 2024 | 1:44 pm
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BMW Group reported a 1.1% Y/Y increase in Q1 vehicle deliveries, with a significant 27.9% surge in fully-electric vehicle deliveries. The company expects a slight increase in automotive deliveries in 2024, focusing on fully-electric and high-end premium models.
The positive performance in Q1, especially the significant growth in fully-electric vehicle deliveries, indicates strong demand for BMW's electric offerings. The optimistic outlook for 2024, with expected growth in fully-electric vehicles and high-end premium models, suggests potential for increased sales and revenue, positively impacting BMWYY's stock in the short term.
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