JAKARTA - Competition in the electric vehicle (EV) market is getting fiercer with various new models launched by various manufacturers. Although some brands decided to offer EV cars at a more affordable price, BMW remained firm in its strategy that did not follow the trend.
The German automaker refused to lower prices or offer vehicles at the lowest price in order to increase sales. Nonetheless, BMW managed to record positive growth in its sales in the third quarter of the current EV market.
"The price reduction strategy is not our focus. As can be seen, we managed to record substantial growth even at competitive prices," said Oliver Zipse, BMW Chairman.
BMW's positive performance is not just rhetoric. In the third quarter, this Bavarian manufacturer recorded overall sales of 621,699 units, of which 139,943 units were electrified vehicles, including Battery Electric Vehicle (BEV) and Plug-In Hybrid (PHEV).
Sales of environmentally friendly vehicles using electricity contributed 22.5 percent of total sales in this period, an increase of 42 percent compared to the previous year.
In detail, BEV vehicle sales in this period reached 93,931 units, recording an 80 percent increase from the previous year. However, this increase was not followed by sales of the PHEV model.
In the third quarter of 2023, PHEV sales decreased by one percent, with total sales of 46,012 units. Several PHEV models offered by BMW include Series-3, X3, X5, and XM high-performance SUVs.
From the first to the third quarter, BMW Group managed to sell a total of 385,411 units of electric vehicles, contributing to a market share of 21 percent of total sales and an increase of 36 percent compared to the previous year.
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The sale of the BEV model so far this year has reached 246,867 units, showing an increase of 93 percent. However, sales of the PHEV model decreased by 11 percent, with a total of 138,544 units sold during that period.
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