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An in-depth analysis of top automotive groups excelling in plug-in electric vehicle sales — part three of four.
This marks the third installment of our series examining manufacturers with the highest EV sales figures. To explore the first and second editions, be sure to check out these articles.
In this segment, we will delve into Volkswagen Group, Li Auto, AITO, and BMW Group.
For further insights into these and other manufacturers, don’t miss our overview of leading brands for EV sales recorded in October.
Volkswagen Group Overview
Volkswagen AG, a prominent German automotive conglomerate headquartered in Wolfsburg, Germany, was established in 1937 but only gained traction in vehicle production post-World War II around 1945.
As the world’s second-largest automotive group following Toyota, it achieved a production milestone of approximately 9.2 million vehicles in 2023. The company owns an array of passenger car brands:
- Volkswagen — Mainstream models featuring ICEs (Internal Combustion Engines), PHEVs (Plug-in Hybrid Electric Vehicles), and BEVs (Battery Electric Vehicles).
- Audi — Luxury division with ICEs, PHEVs and BEV offerings.
- Bentley — High-end luxury label with several ICE and PHEV options now available.
- Cupra — Sport-oriented mainstream brand providing ICEs along with PHEVs and BEVs.
- Jetta — Affordable brand located primarily within China focusing on traditional gasoline engines only.
- Lamborghini — Exclusive sports car brand featuring both ICEs as well as PHEV variants.
- Porsche— Renowned sports line offering a mix of ICEs along with its own range of PHEVs and BEVs.’
< li >< strong >Scout< / strong > – An emerging American brand set to deliver BEV SUVs as well as EREVs (Extended Range Electric Vehicles).
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In addition to passenger vehicles,, Volkswagen oversees Ducati motorcycles popular among riding enthusiasts globally along extensive commercial vehicle divisions including their Traton subsidiary covering trucks like MAN&Scania .
Sales Insights
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Li Auto’s Journey
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AITO’s Rise Amidst Challenges: The Impact of Huawei
Although the Seres SF5 struggled to gain traction in the market, its sibling brand AITO has managed to achieve notable success and relevance, largely due to a critical aspect absent from Seres: collaboration with Huawei.
The Foundation of AITO
AITO represents the inaugural brand born from HIMA Alliance, spearheaded by tech powerhouse Huawei. This partnership is designed to foster joint ventures between established automobile manufacturers and innovative EV brands. Launched in 2021, AITO emerged as a collaborative effort between Sokon—home to the Seres brand—and Huawei. Sokon supplied the fundamental vehicle hardware while Huawei offered extensive expertise in product design, planning, marketing strategies, quality assurance, and software development.
This model of cooperation laid the groundwork for additional HIMA brands such as Luxeed (Chery), Stelato (BAIC), and Maextro (JAC).
Strategic Brand Evolution
As 2023 drew to a close, following the decline of the original Seres label, AITO rebranded itself for export markets. Currently accounting for only about 1% of sales from international exports—a figure expected to increase by 2025—there remains potential for growth if AITO can follow in Li Auto’s footsteps within Russia’s market. Notably similar in approach to Li Auto’s strategy with their spacious EREV SUVs.
Impressive Growth Projections
Aito is on track for impressive expansion with an anticipated tripling of sales by 2024. This momentum can be attributed primarily to its M7 full-size SUV’s thriving performance and particularly due to its recently launched flagship model—the M9 SUV—which swiftly ascended as their top-selling vehicle.
The significance of their compact lineup is highlighted by their sales distribution; namely that while M9 accounts for approximately 39% of total sales volume for AITO models—the M7 commands a remarkable share that constitutes half of all sales figures.
The Legacy and Challenges Faced by BMW Group
Bayerische Motoren Werke AG (BMW) stands out as one of the most recognized automotive names globally since it began operations back in 1910 primarily as an aircraft manufacturer before transitioning into automobiles in 1928 with models like the BMW 3/15—a modified Austin Seven.
Strong Roots but Recent Trials
Headquartered in Munich, Germany—and among Europe’s prestigious trio alongside Audi and Mercedes—BMW produced around 2.6 million vehicles last year alone. Its brand umbrella includes various subsidiaries devoted not only cars but also motorcycles under BMW Motorrad and luxury segment giants such as Rolls-Royce along with sporty minis through MINI.
Reflectively speaking on electric vehicles (EVs), BMW handles roughly just enough streams focusing on both Battery Electric Vehicles (BEVs) and Plug-In Hybrid Electric Vehicles (PHEVs). In this regard however two best-sellers—the i4 liftback alongside iX1 SUV—only represent about14% each toward overall exhibit total EV contributions; which may suggest vulnerability should any become reliant on singular successful iterations over time ahead rather than diversified offerings.
Future Outlook: Concerns Regarding China Market Participation
China distinguishes itself prominently within global EV dynamics – representing nearly one-fifth or approximately eighteen percent stake featuring alongside sources evidencing larger contributions across all powertrains leading towards nearly twenty-nine percent share witnessed cumulatively across Chinese auto transactions overall according said reports – implying cautions needed since certain forecasts could depict loss nearing eleven percent resulting from wavering PEV markets impacting essential positions soon nearing three hundred thousand units at risk downrange currently positioned outwardly per projections specifying just few fleeting years coming forth…
Observational Trends Among OEMs
Recent trends indicate that Chinese electric startups have shown accelerated growth while traditional European manufacturers appear stuck or even receding—a troubling sign reflecting Volkswagen Group experiencing significant slowdowns post-2022 coinciding directly following CEO Herbert Diess’ exit after previous advancements initiated aiming digital transitions amplifying strategic frameworks producing worthwhile gains subsequently put aside now notably contributing less prominence presently rivaled engaging emergent competitors highlighted throughout this narrative…
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The Future of Electrification: Navigating Changes in the Automotive Landscape
While Tavares’ strategy had its shortcomings, it paved a promising path towards electrification. Unfortunately, this momentum may face obstacles under the leadership of his successor, John Elkann. In a few years, as challenges arise within Stellantis, management may privately lament Tavares’s departure—even if they refrain from publicly acknowledging it.
OEM Sales Dynamics: 2024 Performance Review
Turning to original equipment manufacturers (OEMs), both Li Auto and AITO enjoyed a successful year in 2024. However, to sustain their growth trajectories, these companies will need to diversify their offerings and ramp up exports significantly. Li Auto appears to be better positioned for this task with plans for its first electric SUV debuting in 2025 and planned deployments across Russia, Central Asia, and the Middle East.
Evaluating Market Opportunities: Challenges Ahead
Nevertheless, there are hurdles on the horizon. Apart from Russia—where monthly sales figures have reached impressive highs—the other targeted international markets lack strong potential for immediate volume growth. Furthermore, if Li Auto’s new full-size electric SUV performs well in the market, it might eat into sales of their EREV models—a development that could lead to substantial slowdowns in 2025.
ADVERTISEMENTAITO faces similar challenges as they prepare to release the M8 full-size SUV into an already competitive lineup that includes two additional models (the M7 and M9). This raises questions about whether new sales will be primarily drawn away from existing offerings rather than attracting entirely new customers. Additionally, despite aggressive goals such as achieving 200,000 units sold by 2027 across more than 60 markets—the success of these aims is uncertain given that other established Chinese brands are concurrently struggling with export strategies.
BMW Group: Anticipations for Continued Growth
Shifting focus to BMW Group—a brand experiencing cautious but steady expansion towards the end of 2024—the company’s future growth seems linked closely with its upcoming Neue Klasse series models. With designs that promise visual appeal—an interesting shift from some of their recent polarizing aesthetics—and enhanced specifications equipped for modern demands; anticipation mounts around not only when these vehicles will hit showrooms but also how swiftly production levels can increase.
The iX3 is expected to roll out in either mid or late-2025; timing could prove crucial here—factors influencing this timeline might determine if BMW encounters another stagnant year like what was seen in 2024 or transitions into modest growth while gearing up enthusiastically toward an impactful presence by 2026 alongside launches like the new i3 sedan which would help solidify profitability on electric vehicles.
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