BMW EV sales are on the rise, but chip shortages create problems

BMW i4 during a BMW press conference in Garching, Bavaria on September 29, 2021.

Matthias Balk | painting alliance | Getty Images

BMW Group’s all-electric vehicle sales rose 121.4% in the first nine months of 2021 to 59,688 units, with the German automaker saying on Wednesday that electric mobility is “an increasingly important growth and success factor” for the company.

In total, the Munich-based company sold 231,575 all-electric and plug-in hybrid vehicles from January to September, up 98.9%. For comparison: in the third quarter of 2021 alone, Elon Musk’s Tesla delivered 241,300 vehicles.

BMW’s data on electric vehicles were released in the income statement released Wednesday. Net income for the third quarter of 2021 was 2.58 billion euros ($ 2.99 billion), an increase of 42.4%. This despite the fact that deliveries in the automotive segment were down 12.2% compared to the third quarter of 2020.

“In the third quarter of 2021, operating activities were increasingly impacted by supply problems with semiconductor components,” the company said. “While this resulted in a decline in production and sales volumes between July and September 2021, this impact was more than offset by the positive impact on new and used car prices.”

Returning to the field of electric vehicles, the BMW Group wants fully electric vehicles to account for at least 50% of its deliveries by 2030.

BMW is one of several well-known companies pushing an electrification strategy. Volvo Cars announced in March that it plans to become a “fully electric car company” by 2030.

Learn more about electric vehicles from CNBC Pro

In July, the Volkswagen Group said that by 2030, half of its sales are expected to come from battery-electric vehicles. By 2040, the company said that nearly 100% of its new vehicles in key markets should be zero-emission.

This shift to electromobility comes at a time when major economies around the world are trying to reduce the environmental impact of transport.

The UK, for example, wants to stop selling new diesel and gasoline cars and vans by 2030. From 2035, all new cars and vans will be required to have zero emissions.

Elsewhere, the European Commission, the EU’s executive arm, is aiming for a 100% reduction in CO2 emissions from cars and vans by 2035.

– Chloe Taylor of CNBC contributed to this report.

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