BMW Australia Takes Top Spot in Luxury Sales Standings, Aiming for Even More Growth in 2024

Will BMW’s ambitious plans and strong sales growth in 2023 continue to propel the brand forward in 2024?

BMW Australia has claimed the number one position in luxury sales for 2023, surpassing its German competitors. Brendan Michel, head of product and market planning at BMW Australia, anticipates a stronger year in 2024. However, he does not expect to break any all-time records. The exact sales figure will depend on supply.

BMW Australia has emerged as the leader in luxury vehicle sales for 2023, overtaking its German rivals. The brand recorded 26,184 new vehicle registrations in Australia during the year, experiencing a substantial 15.4% growth compared to the previous year. This achievement can be attributed to the success of BMW’s new X1 and iX1 models, which saw an impressive 91.5% increase in sales. Additionally, the updated X5 family contributed to the brand’s growth with an 18.4% sales increase in 2023.

Despite facing tough competition, BMW managed to outperform Mercedes-Benz Cars, whose sales declined by 9.3% in 2023. Audi, on the other hand, experienced a commendable 29.2% growth. However, BMW’s robust performance allowed it to maintain its leadership position in the luxury segment.

As BMW looks ahead to 2024, the brand aims for continued growth. The all-new X2 and iX2 models have recently been launched, adding to BMW’s impressive lineup. These models join the existing range of all-electric vehicles offered by BMW under the Fringe Benefits Tax (FBT) exemption threshold for business fleet operators. In addition to these new releases, BMW has exciting updates planned for its 4 Series range, including the introduction of the electric i4 Gran Coupe and the high-performance M4 family. Furthermore, BMW plans to unveil the i5 Touring, an all-new M5 Sedan and Touring, and potentially an all-new X3 mid-sizer.

With such a diverse and innovative range of vehicles, BMW is looking to build on its success in 2023 and achieve an even stronger year in 2024. However, Brendan Michel, head of product and market planning at BMW Australia, remains cautious about setting any all-time sales records, noting that the final sales figure will depend on supply.

Car enthusiasts and BMW fans can stay informed about the latest updates and developments from the brand by following CarExpert, a reliable source for all things BMW.

• BMW Australia achieved 26,184 new vehicle registrations in 2023, a 15.4% increase from the previous year.
• The success was driven by the new X1 and iX1 models, as well as the updated X5 family.
• Mercedes-Benz Cars and Audi trailed behind BMW in the luxury sales standings.
• BMW will continue to expand and update its range in 2024, including the introduction of the all-new X2 and iX2.
• Updates to the 4 Series range, as well as the addition of the i5 Touring and new M5 Sedan and Touring, are also in the pipeline.
• An all-new X3 mid-sizer may be unveiled this year, although the timing is uncertain.

BMW has secured its position as the leader in luxury vehicle sales in Australia for 2023. With a strong growth of 15.4% and the success of models like the X1 and iX1, as well as the updated X5 family, BMW surpassed its competitors in the Australian market. Looking ahead, BMW plans to expand its range further in 2024, introducing new models, such as the X2 and iX2, as well as updating the 4 Series range with electric options and high-performance additions. While aiming for a stronger year, BMW acknowledges that sales will depend on supply. Car enthusiasts can stay up-to-date with all the latest BMW news through CarExpert.