Petrol car demand reached its peak last year, a BMW executive has said, as the German car manufacturer gears up for growth to be led by electric models.
The car maker, which makes Mini in the UK, aims to sell half a million battery-powered vehicles this year, which would make up about a fifth of total deliveries, its chief financial officer Walter Mertl said.
BMW group electric vehicle (EV) sales jumped 75pc last year, driven by models like the i4 Sedan and as overall sales growth has slowed in the US and some European countries.
Mr Mertl said: “The tipping point for combustion engines was last year.
“Future volume growth will primarily come from battery electric vehicles.”
It comes as the market share of electric cars went into reverse in the UK in 2023 after Rishi Sunak pushed back a ban on the sale of new petrol and diesel vehicles to 2035.
EVs share of the overall new car market shrunk from 16.6pc to 16.5pc in 2023, according to the Society of Motor Manufacturers and Traders (SMMT). This compares with the 17.2pc originally forecast.
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2024-01-15 09:13:00Z
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