BMW AG (ETR:BMW) saw total sales drop by 1.5% year-on-year influenced by shifts in both its UK brands Mini and Rolls-Royce.
Mini, which is manufactured in Oxford, saw sales sink by 9.2% annually to around 68,000 units in the three months to 31 March.
However, the German car company remains confident as demand for the all-electric Mini Cooper SE “remains high”.
BMW also noted a “strong order book” and the upcoming launch of a convertible electric Mini as reasons to expect positive momentum.
Rolls-Royce cars, which was sold to BMW in 2003, experienced a slightly more positive start to 2023 as sales grew by 1% to 1,640.
It was confirmed that its order book for all models remains full until the end of the year.
The Goodwood-based luxury car manufacturer is also readying for the sale of the Rolls-Royce Spectre, the world’s first ultra-luxury electric super coupe, by the end of 2023.
The new models are part of BMW’s plans to only offer fully electric vehicles by 2030.
In Europe, the group’s total sales fell by 1.9% to more than 215,000 – representing over 36% of BMW’s total sales in the quarter.
Sales in the US sprung by 11%, whilst in Asia units sold dropped by 5%.
Pieter Nota, a member of the board of management at BMW said: “The BMW Group is on track for slight sales growth in the full year 2023. The main drivers of growth in 2023 will be fully electric vehicles and models from the high-end premium segment.”
BMW’s share price was up more than 2% on Tuesday, having opened at just under €100.