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BMW Group has announced that it recorded an impressive sales figure of over 2.5 million units in 2023. This accomplishment includes achieving a 15% market share of battery-electric vehicles, a significant milestone in the automotive industry.
Fourth Quarter Sales Show Positive Growth
Reuters reported that during the fourth quarter, BMW Group experienced an upward trend in sales, with a remarkable 10.3% increase compared to the previous year. This surge in sales amounted to 718,778 cars. Furthermore, the company's total annual sales witnessed a growth rate of 6.5%.
The United States marked the highest sales growth throughout the year, reaching nearly 396,000 units, a growth rate of 9.4%. On the other hand, China experienced slower growth at 4.2%, resulting in sales of 824,932 units.
BMW Group expresses confidence in maintaining its battery-electric sales trajectory in the upcoming year. The company foresees continued success and is optimistic about its future performance.
Sustainable Pricing Strategy
Unlike some of its rivals, BMW Group does not plan to reduce prices as it continues to operate with a fully booked order book. Executives within the company see no immediate need to adjust pricing, a testament to the strong demand for BMW vehicles.
BMW Group is set to announce its full-year financial results on March 21. The report will provide comprehensive insights into the company's financial performance in the past year.
The third quarter results indicate a 10.3% margin on earnings before interest and taxes in BMW Group's car division. This margin aligns with the company's 9-10.5% forecast, demonstrating successful financial management.
BMW's Collaboration With Amazon in Voice Assistants
Continuing its pursuit of innovation, BMW announced a joint effort with Amazon at the 2024 Consumer Electronics Show. According to Slash Gear, this collaboration aims to elevate existing car voice assistants to new heights.
Building on their partnership established in 2022, BMW has been working with Amazon to enhance in-car voice assistants by leveraging Amazon's Alexa framework. This evolution of Alexa in BMW vehicles promises to provide extensive driving information that is easily accessible to drivers on demand.
This new iteration of Alexa in BMW vehicles goes beyond basic command responses. It is designed to serve as a comprehensive repository of driving knowledge, enabling drivers to access critical information effortlessly.
Photo: Joshua Naidoo/Unsplash
