December 1, 2021

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BMW’s electric vehicle sales surge, but chip shortage poses challenge

The BMW i4 noticed through a BMW push occasion in Garching, Bavaria, on September 29, 2021.

Matthias Balk | photo alliance | Getty Visuals

The BMW Group’s sales of absolutely electric powered automobiles grew by 121.4% in the very first 9 months of 2021, hitting 59,688 units, with the German carmaker stating Wednesday that electric mobility was “becoming an more and more vital advancement driver and achievements element” for the business.

In full, the Munich-headquartered company marketed 231,575 all-electric and plug-in hybrid automobiles involving January and September, a leap of 98.9%. By comparison, in the 3rd quarter of 2021 alone, Elon Musk’s Tesla claims it shipped 241,300 vehicles.

BMW’s electric motor vehicle figures had been contained in an earnings report posted Wednesday. Internet earnings for the 3rd quarter of 2021 amounted to 2.58 billion euros ($2.99 billion), a rise of 42.4%. This was despite deliveries in its automotive section dropping by 12.2% in comparison to the third quarter of 2020.

“In the third quarter 2021, functions had been increasingly impacted by provide bottlenecks for semiconductor elements,” the business said. “Even though this resulted in output quantity shortfalls and reduce gross sales volumes for the duration of the time period from July to September 2021, the effects was additional than offset by positive selling price results for new and pre-owned autos.”

Again on the EV front, the BMW Group would like totally electric powered vehicles to stand for at the very least 50% of its deliveries by the 12 months 2030.

BMW is just one of many very well regarded organizations pushing an electrification method. In March, Volvo Cars mentioned it planned to turn out to be a “thoroughly electric powered car business” by the year 2030.

Read additional about electric powered cars from CNBC Professional

In July, the Volkswagen Team explained half of its product sales ended up expected to be battery-electric vehicles by 2030. By the year 2040, the business explained pretty much 100% of its new autos in significant marketplaces need to be zero-emission.

This shift to electric powered mobility will come at a time when significant economies all around the entire world are making an attempt to lessen the environmental footprint of transportation.

The U.K., for instance, desires to halt the sale of new diesel and gasoline automobiles and vans by 2030. It will have to have, from 2035, all new automobiles and vans to have zero tailpipe emissions.

In other places, the European Commission, the EU’s executive arm, is focusing on a 100% reduction in CO2 emissions from automobiles and vans by 2035.

— CNBC’s Chloe Taylor contributed to this report