Investing.com -- Shares of BMW (BIT:BMW) traded lower on Monday after the company reported adjusted sales guidance for 2024 following a challenging second half of the year.
The automaker reported total vehicle deliveries for 2024 reached 2,450,804 units, achieving the revised target after being impacted by delivery stops linked to the Integrated Brake System and subdued demand in China.
Despite the revised target, the automaker saw a decrease in overall deliveries compared to the previous year, with BMW (ETR:BMWG) brand sales down 2.3% to 2,200,177 units.
While the BMW brand maintained its global leadership in its segment, with strong performance in Europe, the impact of declining fully-electric vehicle registrations in Germany and other regions was evident.
Despite these challenges, BMW Group reported an increase in fully-electric vehicle sales, delivering a total of 426,594 fully-electric vehicles in 2024, up 13.5% compared to the previous year.
Both the BMW and MINI brands posted double-digit growth in BEV sales, with the MINI brand almost doubling its BEV sales in the fourth quarter.
“The BMW Group is maintaining its growth trajectory for fully-electric vehicles amid challenging market conditions. This is reflected in both the significant sales growth for fully-electric vehicles and the clear rise in new BEV orders in Europe,” said Jochen Goller, member of the Board of Management of BMW AG responsible for Customer, Brands, Sales.