car makers, being first to fail is proving valuable when it comes to electric vehicles. After a bruising initial crack at bringing EVs to market, BMW is lapping its rivals.
Percentage of total car sales made up of fully electric vehicles. Sources: Company annual reports, Q1 delivery statements. Note: Car sales data for Mercedes-Benz is based on wholesale deliveries, while BMW and Audi are customer deliveries BMW’s success is all the more impressive since it coincides with a broader slowdown in demand for EVs, particularly in Europe, where governments are reducing subsidies. Mercedes cited the phase-out of its Smart Fortwo two-seater and sluggish demand in Germany for falling EV wholesales in the first quarter. Earlier this month, Tesla reported its first year-on-year global sales drop since 2020.Some of BMW’s head-start has to do with its rivals veering off course.
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