By David Sachs

BMW Group sold more cars in 2023 than it ever has over a one-year period, crediting close cooperation with retailers and strong performances by sales associates.

The German carmaker said Tuesday that group sales approached 2.6 million last year, a 6.5% increase over 2022, breaking its all-time record. Sales grew 10% in the fourth quarter to around 718,800, BMW said.

The company also hit its annual fully-electric vehicle sales target, with 15% of sales comprising battery-powered vehicles last year. Group-wide, EV sales reached almost 376,200 in 2023, a 74% hike from last year.

BMW confirmed its EV sales target of more than 500,000 in 2024 despite analysts expecting softer demand.

Write to David Sachs at david.sachs@wsj.com

(END) Dow Jones Newswires

January 09, 2024 03:47 ET (08:47 GMT)

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