BMW gross sales recuperate in fourth quarter as provide chain points ease

BERLIN, Jan 10 (Reuters) – BMW (BMWG.DE) fourth-quarter group gross sales rose 10.6%, the carmaker stated on Tuesday, helped by easing provide chain bottlenecks in a yr that has been affected by battle in Ukraine and lockdowns in China.

Full-year deliveries had been down 4.8%, with Europe and China hardest hit by provide chain troubles that curbed output, significantly within the first half of the yr.

However gross sales bounced again within the fourth quarter because the group rejigged provide chains in Europe and lockdowns had been lifted in China. Gross sales grew 10.9% and 12.7% yr on yr in Europe and China respectively.

Deliveries in the USA had been extra secure, falling by just one.3% for the yr, with a lift from fourth-quarter development at 11.1%.

Gross sales of totally electrical autos additionally carried out properly, greater than doubling to 215,755 over the yr.

“We’re assured we will construct on this success in 2023, as we proceed to see significantly excessive order consumption for our totally electrical fashions,” stated Pieter Nota, administration board member answerable for buyer, manufacturers and gross sales.

BMW weathered the early days of the COVID-19 pandemic higher than rivals, attaining report gross sales in 2021. Although 2022 was extra problematic, it has to this point offset the drop in gross sales volumes with increased costs.

The carmaker now plans to to maneuver to a direct gross sales mannequin in 24 European markets, with brokers performing as gross sales representatives, it stated in Tuesday’s buying and selling replace.

The goal is to succeed in out to “new, online-savvy buyer goal teams”, it added.

The corporate’s Mini automotive model might be offered via this enterprise mannequin from 2024, with the BMW model to observe in 2026, the corporate stated.

Reporting by Victoria Waldersee
Further reporting by Miranda Murray
Enhancing by Mark Potter and David Goodman

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