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BMW Group Q4 Vehicle Sales Rise With Strong Growth In Electrified Vehicles

German luxury car maker BMW AG (BMW.L,BAMXF.PK,BAMXY.PK) reported Tuesday that its fourth-quarter group sales were 686,069 vehicles, a growth of 3.2 percent from last year. Sales of electrified vehicles climbed 55 percent to 76,246 vehicles.

BMW brand sales increased 4.3 percent year-over-year to 600,799 vehicles. Sales of electrified vehicles increased 31.8 percent.

In the quarter, sales of plug-in hybrid vehicles climbed 38.9 percent, reflecting strong customer interest in this drive train variant.

In fiscal 2020, BMW Group sold 2.32 million units of BMW, MINI and Rolls-Royce vehicles, down 8.4 percent. BMW brand sales fell 7.2 percent.

However, electrified BMW and MINI vehicles sales climbed 31.8 percent.

In Europe, BMW and MINI sales were nearly sixteen percent below the previous year. In its home market of Germany, the company recorded a decline of 13.3 percent. U.S. sales fell 18 percent. However, BMW Group sales in China were 7.4 percent higher.

Further, BMW Group said it now offers 13 models in electrified vehicles, pure electric and plug-in hybrid, which are available in 74 markets around the globe.

By 2023, the company plans to almost double its line-up to 25 electrified vehicles, of which more than half will be fully electric.

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