BMW changes strategy: less electric cars, more internal combustion engines

BMW has revised its forecasts down, cutting its sales expectations for all-electric vehicles and increasing the forecast for models with traditional internal combustion engines in China.

The decision is aimed at avoiding a repeat of the mistakes made with the i3 and iX3 models, when the final prices turned out to be uncompetitive. The company decided to reduce the focus on electric vehicles in order to adapt to the current market conditions and avoid financial losses.

The forecast cuts affected both current BMW and MINI models and the next-generation electric vehicles scheduled for launch in 2026. According to sources close to the supply chain, the sales forecast for some all-electric vehicles was cut by more than 20%.

Sources close to BMW's supply chain said that starting in 2024, BMW is cutting its future forecasts, and supply chain companies expect further cuts in the future.