Login
My Garage
New hero

Demand for petrol cars has peaked, declares the BMW chief

By Mathilda Bartholomew | January 15, 2024

Share

Why not leave a comment?

See all | Add a comment

It marks a significant turning point as the German car manufacturer focuses on electric models

Demand for petrol cars has peaked, declares the BMW chief

According to a BMW executive, petrol car demand reached its peak last year, setting the stage for the German car manufacturer's growth to be spearheaded by electric models.

The company, known for producing Mini in the UK, has set ambitious targets for the year. BMW aims to sell half a million battery-powered vehicles in the current year, constituting about a fifth of total deliveries, as highlighted by its Chief Financial Officer, Walter Mertl.

Reflecting on the past year, Mertl notes, "The tipping point for combustion engines was last year. Future volume growth will primarily come from battery electric vehicles."

BMW declared last week that its iconic Munich plant will only be producing EVs by 2027, marking the end of 75 years of internal combustion engine vehicle manufacturing in BMW's hometown.

BMW's electric vehicle (EV) sales witnessed a remarkable 75% increase last year, driven by popular models like the i4 Sedan. This surge comes amidst a broader slowdown in overall sales growth in the US and some European countries.

The shift towards electric vehicles is significant, considering the evolving landscape of the automotive industry. However, in the UK, the market share of electric cars faced a setback in 2023. Rishi Sunak's decision to postpone the ban on the sale of new petrol and diesel vehicles until 2035 played a role in this reversal.

According to the Society of Motor Manufacturers and Traders (SMMT), the share of EVs in the overall new car market contracted from 16.6% to 16.5% in 2023, falling short of the initially forecasted 17.2%.

Related Articles

These are the top things to know about Renault’s new 5 E-Tech
The new 5 arrives with multiple battery options and a very bold look.
Feb 26, 2024
The new '24' number plates banned by DVLA for being offensive
Every year DVLA officials meet to draw up a list of plates that it deems to be too risqué
Feb 23, 2024
Nissan’s gripping adventure in Finland
Nissan was so confident in its all-electric Ariya and e-POWER X-Trail models that they flew us out to Helsinki, Finland and from there we...
Feb 23, 2024
Police fail to solve three out of four car thefts, but what can you do to keep your vehicle safe?
Leaving your car parked up is part and parcel of vehicle ownership, so is there anything you’re able to do to make your motor less...
Feb 23, 2024