Bangkok. BMW Group Thailand has maintained its position as the leading premium automotive brand in Q1 2024, despite market challenges. The company’s commitment to delivering premium products, services, and experiences has contributed to its success, with BMW’s battery electric vehicle (BEV) registration numbers seeing a significant growth of over 108% in the first quarter. This is due to the popularity of six BEV models, including the BMW iX2, BMW iX3, BMW iX, BMW i4, BMW i5, and BMW i7, which collectively registered 487 vehicles. Additionally, BMW and MINI BEV models experienced a strong 74% growth with 548 vehicle registrations. These achievements align with BMW Group’s global announcement of reaching one million fully-electric vehicles sold, with a 40.6% increase in BEV sales compared to the prior year.
Mr. Alexander Baraka, President and CEO, BMW Group Thailand, said: “Amidst the challenges in the automotive market – from market fluctuation to changing consumer behaviour, our relentless pursuit of excellence to deliver premium innovative products, superior services, and experiences of joy, as well as the commitment to a sustainable and environmentally friendly future, have yielded strong results and differentiate us from other players in the market. These factors have led us to maintain the leader position in premium automotive market for four consecutive years and onto the first quarter of 2024. Our focus to remain committed in delivering the premium products, services and experiences to our customers has become the perceived value that surpasses the price fluctuation in the automotive market.
Moreover, registrations of BMW Executive sedans, SAVs and SACs have increased by over 8.6% year-on-year, especially with the BMW iX and BMW 5 Series as the biggest contributors to the success in the first quarter. Meanwhile, our BEVs have achieved significant growth with BMW BEVs seeing an increase of 108.1% year-on-year. Despite a decrease in the total registration number of vehicles in the overall Thai automotive premium segment, we were able to maintain a strong performance with a total of 3,561 BMW registered and 407 MINIs registered in the first quarter. Evidently, our commitment to technology openness has actively been a crucial factor in driving BMW’s continued growth in Thailand, balancing a wide variety of drivetrains with exceptional customer experiences and advancements towards eco-friendlier vehicle. We believe that it will help us stay ahead of the competition and meet the evolving needs of our customer.” Mr. Alexander Baraka concluded.
Globally, BMW Group delivered 594,671 vehicles to customers in the first quarter of 2024, an increase of 1.1% from the same period in 2023. The BMW brand concluded a total of 531,039 deliveries in the first quarter, growing 2.5% year-on-year. Meanwhile, the MINI brand maintained a strong performance with 62,107 deliveries. BMW Motorrad reported the best month ever in March and delivered 46,434 motorcycles and scooters to customers in the first quarter of 2024.
In addition, the BMW brand reported particularly strong growth in BEVs, with 78,691 fully-electric BMW vehicles delivered to customers worldwide – an increase of +40.6% compared to the prior year. Among the brand’s fully-electric vehicles, the BMW i4, BMW iX3, BMW iX1, BMW iX, and BMW i7 were particularly in demand. In addition to significant BEV growth, the BMW Group also recorded a significant year-on-year 21.6% increase in sales of models in the high-end premium segment in the first quarter.
BMW Group Thailand’s Q1 2024 performance demonstrates its focus on innovation, sustainability,
and customer-centricity. Its market dominance in Thailand’s premium car segment for 4 consecutive years highlights its pursuit of excellence in design, quality, and service. The company also plays a crucial role in advancing social and environmental sustainability, particularly in electric vehicles. The company remains committed to delivering exceptional driving experiences while driving towards sustainable development in the future.
