BMW Group Sales Slip In Q3; EV Sales More Than Doubles

German luxury car maker BMW Group, Bayerische Motoren Werke ADR BMWYY, said its group car sales in the third quarter fell 0.9% year-on-year to 587,795 vehicles.
The company recorded a 5.7% sales increase in China, a 3.8% rise in the U.S., and an 11.1% decline in Europe.
The biggest winner was BEVs (Battery Electric Vehicles), posting a 121.6% Y/Y jump in sales.
For the first nine months of 2022, the carmaker saw a year-on-year fall of 9.5% for Group sales to 1.75 million vehicles.
BMW Group sales climbed 6.6% worldwide in the month of September.
Also Read: BMW Predicts Slight Sales Growth In 2023
"The dynamic growth of our fully-electric models reflects how the BMW Group's electric lineup is winning over customers – as we continue to press ahead with the transition towards electromobility," said Pieter Nota, member of the Board of Management of BMW AG responsible for Customer, Brands, Sales.
BMW confirmed its full-year forecast for 2022 to achieve sales slightly below the previous year.
Price Action: BMWYY shares closed lower by 1.30% at $23.30 on Friday.
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