BMW of North America faced a challenging Q3 in 2024, contending with a recall-related stop-sale order and other market disruptions. Both BMW and MINI posted lower sales figures for the quarter, yet the automaker remains confident about bouncing back as it heads into the final months of the year.
The BMW brand sold 78,128 units in the U.S. in the third quarter, reflecting a 6.9% drop from the 83,949 vehicles delivered during the same period in 2023. After a promising first half of 2024, the recall and broader market constraints have put pressure on BMW’s momentum.
However, company leadership is maintaining an optimistic outlook. Sebastian Mackensen, President & CEO of BMW of North America, expressed satisfaction with the results given the circumstances, noting, “I am confident that we will regain the momentum built in the first half of the year, and look forward to a strong full-year result.”
Electric Vehicle Sales: Slower Growth Amid Transition
EV sales, a key focus area for BMW, saw a slight dip. The brand delivered 12,311 battery electric vehicles (BEVs) in the quarter, representing 15.8% of its total U.S. sales but marking a 5.9% decline from the same time last year. The decrease underscores the ongoing challenges in the EV market, including supply chain issues and the evolving consumer landscape. Despite these hurdles, BMW is committed to expanding its electric lineup, aiming to position itself as a leader in the transition to electrification.
MINI Brand: A Steep Decline, But New Models on the Horizon
MINI, BMW’s quirky sibling brand, faced a tougher quarter. U.S. sales totaled 5,284 units, a 33% drop from the 7,900 vehicles sold in Q3 2023. This sharp decrease, however, was anticipated as MINI undergoes a major product transition. The brand is currently rolling out an entirely new generation of models, including redesigned versions of its popular Countryman and Cooper, which have just started to reach U.S. dealerships.
