Title: Slumping BMW Sales in China: A Business Challenge
BMW grapples with a tough Market in 2024, witnessing a 13% plunge in Chinese car sales and a 4% overall car delivery decrease, reaching 2.45 million units. The BMW core brand, with 2.2 million vehicles delivered, posts a 2.3% decline, while Mini suffers a more substantial 17% dip, selling 245,000 cars. Rolls-Royce, the luxury division, records a 5.3% decrease, selling 5,712 units.
In China, BMW's performance falters, with a 13% decrease in car sales, amounting to 715,000 units. The market environment is challenging for other manufacturers, but BMW sees slight gains in the US and Europe.
On a positive note, BMW's battery-electric vehicle (BEV) sales surge by 13.5%, reaching 427,000 units, boosting Jochen Goller, the sales director's confidence in continued growth in 2025.
European automakers stagger in the Chinese market due to:
- The rise of Chinese New Energy Vehicle (NEV) manufacturers like BYD and Chery.
- Foreign brands' market share decline from 60.8% in 2019 to 34.8% in 2024.
- Consumer shift towards local startups, such as Nio and Zeekr.
- Rapid development and launch of advanced models from Chinese manufacturers, catering to local user preferences.
BMW attempts to navigate these challenges by bolstering its electric mobility efforts, showcasing growth in NEV sales, investment in R&D, and a 2025 plan to introduce more than 10 new BMW models and various Mini and BMW motorbikes. Despite the market difficulties, BMW holds a strong position in electric mobility, aiming to set new benchmarks with its innovative lineup.
A German car manufacturer like BMW faces tough competition in the Chinese market due to the rise of local New Energy Vehicle (NEV) manufacturers.Despite the challenges in China, the German car manufacturer continues to invest heavily in electric mobility, with plans to introduce over 10 new electric models by 2025.
