Sales figures for Q2 2024: BMW North America reports a 3.7 percent year-on-year increase in total sales for the second quarter of 2024. While passenger car sales were down slightly, light truck sales were up 10.3%, contributing significantly to the overall growth, which is a significant achievement considering the challenges and market fluctuations.
BMW North America’s Q2 2024 Sales Performance
Sebastian Mackensen, President & CEO of BMW of North America, acknowledged the industry’s ongoing challenges but commended the resilience and adaptability of BMW dealers.
He said, “The past few weeks have been challenging for everyone in the industry; however, I’m pleased to report a positive result for the second quarter.” He continued, “Our dealers have worked hard to manage the situation and position us for a successful second half of the year.”
The sales reports shown are for both BMW and Mini (a sub-brand of BMW) in the U.S. market. During Q2 2024. The data shows BMW brand sales reached 91,237 vehicles in the U.S. – a 3.7% increase from the 87,948 vehicles sold in the same period last year.
This impressive growth can be attributed primarily to the strong performance of light truck sales, which surged by 10.3%, offsetting a slight decline in passenger car sales. So far – since the pandemic – this year’s Q2 sales are a milestone for BMW North America.
The Shift in Consumer Preferences
Luxury passenger cars are still in vogue, but it appears car buyers of today prefer EV models of these luxury cars to their petrol/diesel variants. BMW’s EV segment showed a substantial growth scale, recording up to 14,081 fully electric vehicle sales in Q2 2024, which reflects to about a 23.8% increase compared to the same quarter last year.
These electric vehicles accounted for approximately 15.4% of BMW’s total sales in the U.S. BMW’s EV lineup in the U.S. includes the BMW i4, BMW i5, and BMW i7 Sedans, as well as the BMW iX Sports Activity Vehicle. Additionally, BMW offers four plug-in hybrid models: the BMW X5 xDrive50e, BMW 330e, BMW 750e, and BMW XM – with the plug-in hybrid BMW 550e expected to arrive in showrooms later this year.
The BMW MINI Brand Performance
BMW acquired the MINI brand and has since taken over its productions. The MINI brand’s sales number in the U.S. for Q2 2024 totaled 5,898 vehicles, showing a 22% decline from the 7,585 sales number in Q2 2023.
This huge decline in sales is linked to the brand’s intended model changeover in preparation for its new product lineup, including an all-new range of MINI Countryman and Cooper models, which have just begun arriving at U.S. dealerships.
Regardless, a 22-percent decline is a huge one and we hope to see that these refined models would sell out pretty massively as anticipated. MINI Cooper has been a top city car for a lot of people, thanks to its oddly appealing aesthetics and strong build.
Table Charts for BMW’s Q2 Performance in North America
| BMW EV Sales numbers in Q2 2024 | ||||||
| Models | Q2 2024 | Q2 2023 | % | TOT 2024 (Q1 + Q2) | TOT 2023 (Q1 + Q2) | % |
| i4 | 7,066 | 6,777 | 4.3% | 11,603 | 10,724 | 8.2% |
| i5 | 2,541 | — | — | 4,780 | — | — |
| i7 | 929 | 464 | 100.2% | 1,920 | 754 | 154.6% |
| iX | 3,545 | 4,135 | -14.3% | 6,490 | 6,486 | 0.1% |
| TOTAL | 14,081 | 11,376 | 23.8% | 24,794 | 17,964 | 38% |
Source: Sales figures for Q2 2024 – bmwblog.com
| New Vehicle Sales BMW of North America, LLC, Q2 2024 | ||||||
| Vehicle type | Q2 2024 | Q2 2023 | % | TOT 2024 | TOT 2023 | % |
| passenger cars | 38,484 | 40,140 | -4.1% | 77,185 | 75,911 | 1.7% |
| light trucks | 52,753 | 47,808 | 10.3% | 98,527 | 94,503 | 4.3% |
| TOTAL BMW | 91,237 | 87,948 | 3.7% | 175,712 | 170,414 | 3.1% |
| TOTAL MINI | 5,898 | 7,585 | -22% | 12,267 | 14,869 | -17.5% |
What to Expect in the Coming Quarters?
As we move into the second half of 2024, BMW North America is likely to continue focusing on its light truck segment, given its success in Q2. The company may introduce new models or refresh existing ones to maintain its competitive edge in this growing segment.
Also, BMW of North America will continue to try to improve its EV segment and fortify its existing EV and hybrid models, since that is where the industry in general is headed. As for the MINI brand, we hope that the model changeover delivers as anticipated.
In any case, it is necessary to take care of your car and understand that regular inspection of the technical condition of the car is important for the driver and even such details as shock absorber for BMW 1 series or brake system, etc. affects the quality of driving and safety.