BMW hit a major milestone after selling over 50,000 EVs in the US in 2024 for the first time. Despite higher electric vehicle sales for the full year, BMW’s feat may not be as big as it seems. Here’s why.
BMW EV sales in the US top 50,000 in 2024
With another 13,876 fully electric vehicles sold in Q4, BMW’s EV sales reached over 50,000 in the US for the first time.
In the US, BMW sold a total of 50,981 EVs last year, up 12% from the 45,417 sold in 2023. Something worth noting is that BMW’s fourth-quarter EV sales fell 3.5% from 5,274 in Q4 2023 to 13,876.
BMW is one of the only automakers so far to report lower EV sales in the fourth quarter. Last week, Ford and GM both reported record Q4 and 2024 sales. GM topped its cross-town rival with over 114,400 electric cars sold last year (+50 YOY), compared to Ford’s nearly 97,900 (+35% YOY).
Overseas automakers, like Hyundai and Kia, are quickly outpacing BMW. The South Korean auto giants posted another record year in the US with new EV models rolling out in key segments.
Meanwhile, pure luxury EV players like Lucid and Rivian are also stealing market share. In 2024, Lucid had four straight quarters with record deliveries, delivering 10,241 EVs in total last year.
Although it may not seem huge, Lucid is a direct competitor to BMW. Last year, it only sold one model, the Lucid Air. Now, Lucid is launching its first electric SUV, the Gravity.
Rivian’s deliveries also hit a new high for 2024 in the fourth quarter after overcoming a supply chain issue. With another 14,183 vehicles delivered in Q4, Rivian’s 2024 delivery total reached nearly 51,600. The EV maker is now ramping up production at its Normal, IL manufacturing plant after shutting it down for upgrades last spring.
How will this impact BMW iX sales? After slipping another 20% in the fourth quarter, BMW iX sales were down 11% in 2024, with 15,383 units sold.
BMW also sells three other electric cars in the US: the i4, i5, and i7. Last year, the i4 was BMW’s top-selling model, with over 23,400 units sold. However, sales were only up 3% compared to 2023 (22,583 units). BMW’s i5 notched the most growth, with sales up 310% in 2024, but only 8,763 models were sold.
Electrek’s Take
Although year-over-year sales growth is still an accomplishment, with a wave of new EVs hitting the market, will BMW be able to keep up in 2025?
Jeep is releasing its first luxury electric SUV. Volvo, Kia, and Hyundai are launching flagship three-row electric SUVs. Lucid’s Gravity is rolling out. And then, in 2026, we will finally see Rivian’s lower-cost R2 electric SUV.
BMW believes it has an answer with its Neue Klasse, or “New Class” of EVs, which will hit US showrooms in 2026. The company’s first Neue Klasse EV rolled off the production line last November as it prepares for a new era.
BMW claims its new EV series will have “30% more range, 30% faster charging, and a 25% overall improvement in vehicle efficiency.” The first BMW Neue Klasse model will be a crossover SUV, with five more set to launch by 2028.
One thing is certain: more advanced EVs at a lower price will soon be available. Stay tuned for more.
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