BMW wants to stay on top in 2024 luxury sales race

BMW Australia overtook its German rivals to take top spot in the luxury sales standings in 2023, and the marque’s local product boss is hoping to sell even more cars in 2024.

Speaking with CarExpert at the launch of the all-new BMW X2 and iX2, head of product and market planning at BMW Australia, Brendan Michel, said 2024 will be a “stronger year” but doesn’t anticipate an all-time record.

“We’re already on a growth [path] already in the first quarter, we’re heading towards a stronger year this year than last year,” Mr Michel said.

“The exact number we’ll get to… it’ll depend on supply.”

For the 2023 calendar year BMW Australia registered 26,184 new vehicles Down Under, up 15.4 per cent on 2022.

Key drivers for the Bavarian marque’s growth last year include the new X1 and iX1 (4644 units, up 91.5 per cent) which is now firmly its top-selling model. The updated X5 family saw growth of 18.4 per cent in 2023.

In 2023 BMW beat out Mercedes-Benz Cars (24,315 excluding the Vans division) and Audi (19,039). Mercedes-Benz Cars was down 9.3 per cent for the year, though Audi was up by 29.2 per cent.

Further back in the pack Lexus managed 15,192 registrations (up 114.3 per cent) and Volvo Car returned 11,128 registrations (up 3.9 per cent).

BMW continues to expand and update its range in 2024 with the arrival of the all-new X2 and iX2, the latter adding the fifth and sixth all-electric offerings under the Fringe Benefits Tax (FBT) exemption threshold for business fleet operators.

BMW will also be updating the entire 4 Series range in 2024 – including the electric i4 Gran Coupe as well as the hi-po M4 family – and will also add an electric i5 Touring as well as an all-new M5 Sedan and Touring.

An all-new X3 mid-sizer is expected to be revealed at some point this year, though it’s unclear whether it will arrive during the 2024 calendar year or sneak into 2025.

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