BMW delivered fewer cars in 2022, but made more money

While the BMW Group delivered fewer vehicles in 2022, the ones it did ship tended to be higher margin models.

Overall deliveries during 2022 at the BMW Group fell by 4.8 per cent to 2,399,632, down from 2,521,514 the previous year.

Both BMW (down 5.1 per cent to 2,100,689), and Mini (down 3.1 per cent to 292,922) reported falls, but Rolls-Royce was up 7.8 per cent to 6021.

China was the automaker’s largest single market (793,500), accounting for 33.1 per cent of all cars sold in 2022. The USA (363,500 or 15.1 per cent), and Germany (254,300 or 10.6 per cent) rounded out the podium spots, with the UK, South Korea, France, and Italy next on the list.

Geographically Asia (1.03 million), Europe (878,500), and the Americas (441,500) were the German firm’s most important regions.

Despite the decline in overall deliveries, BMW’s profit after tax grew 12.9 per cent to €6.3 billion ($10.1 billion).

The company says this was partially down beneficial exchange rates, but mostly thanks to “favourable pricing and product mix effects as well as the higher volume of business with spare parts and accessories”.

Like other manufacturers, the BMW Group has prioritised production of larger and more profitable models.

BMW

Most major model lines fell, with the biggest dips registered by the entry level 1 Series, 2 Series, X1 and X2 ranges.

Possibly due to the launch of a new generation model, the 7 Series also saw its volume drop by over 20 per cent. Likewise the X1 also underwent a generational change.

Like last year, the 3 Series/4 Series, X3/X4, and 5 Series/6 Series filled out the podium places, and collectively accounted for 56.9 per cent of all BMW deliveries last year.

Overall crossovers accounted for 1.02 million deliveries last year, roughly line-ball with 2021, but their overall share grew slightly from 46.3 to 48.4 per cent.

Deliveries from the M division rose 8.4 per cent from 163,541 in 2021 to 177,258 last year. The all-electric i4 M50 was the performance sub-brand’s best selling model.

Speaking of EVs, the i variants scattered throughout the range were responsible for 172,008 deliveries, a big jump up of 149.3 per cent from 2021’s figure of 69,003. EVs accounted for 8.2 per cent of all BMW sales.

As for plug-in hybrids, they fell 2.5 per cent to 200,945.

Mini

With the imminent launch of its all-electric range, developed and built in conjunction with Great Wall in China, BMW was very keen to talk up the Mini brand’s EV success so far.

The most popular variant in Mini’s range was the all-electric Cooper SE hatch, which saw deliveries increase 25.5 per cent to 43,744 in 2022. The SE accounted for 26.7 per cent of all hatchbacks delivered by the brand last year.

Combined with a further 17,184 Countryman Plug-In Hybrids, electrified models were responsible for 20.2 per cent of all Mini deliveries globally.

Rolls-Royce

The storied English marque is BMW’s last bastion of non-electrified action. The Wraith and Dawn two-door models, which went out production last year, went down dramatically, but the company’s sedans held their own.

The big boost in numbers, and no doubt the bottom line, came from the Cullinan crossover.