The BMW Group held its Annual General Meeting earlier this week when CEO Oliver Zipse had some news to share. In case you haven’t heard, the conglomerate is sticking with its goal of having EVs account for half of sales by 2030. Meanwhile, it’s launching 14 new cars or variants by the end of 2024. The head honcho also promised Neue Klasse EVs will deliver 186 miles (300 kilometers) of range after a 10-minute charge.
Another tidbit shared during the presentation held in Munich at the BMW Welt concerned the 5 Series. BMW estimates that the plug-in hybrid will represent 20% of G60/G61 sales in Europe. On the Old Continent, the partially electrified sedan is sold as either a four-cylinder 530e or an inline-six 550e. The more practical 5 Series Touring is also getting both flavors.
The most recent sales results from BMW show the 5 Series is off to a slow start. Shipments in Q1 2024 dropped by 27.4% to 55,171 units, with the number also including an unspecified amount of 6 Series units. The German luxury brand still bundles the 5 with the 6, but the latter was axed from Europe last year.
However, the numbers don’t tell the whole story because it takes a while until the production of a new model is fully ramped up. In addition, the wagon’s market launch is earmarked for this month, only for select European countries. The G61’s global rollout will continue in June. We’re expecting the second half of the year to be strong in terms of sales.
Beyond the 530e and 550e, BMW is about to spice up its plug-in hybrid portfolio with the new M5 models. Yes, plural. The sedan is coming first, likely debuting in the coming weeks with the G90 internal codename. Before the year’s end, the G99 M5 Touring will complete the lineup. The M division has confirmed the long-roof variant is coming to the United States and Canada.
Source: BMW
