Global MINI Sales Down in Q1 2024 Ahead of Full Brand Refresh
Global MINI sales unsurprisingly declined in the first quarter of 2024. With inventory tight and an all new model range soon to arrive at dealers, sales shrank by 9.4% compared to the first quarter of 2023.
In the first three months of 2024, 62,107 customers chose to buy a MINI. The United Kingdom, Spain, Portugal, China, South Africa, South Korea and Latin America were among the countries reporting sales growth. However most of Europe and the US saw numbers dropped as a combination of low inventory and new models not yet on sale seemed to push buyers to wait.
Preparations for the market introduction of the New MINI Family continue at full steam. Late February saw the launch of the new MINI Countryman, which is produced in Leipzig and will be available with an internal combustion engine and as an electric model globally. In the coming months, the J01 MINI Cooper will be released in the market as a fully-electric model next to the combustion engine F66 MINI Cooper. Another crossover model, the new MINI Aceman, will celebrate its world premiere on April 24th, 2024.
| 1st quarter 2024 | Compared with previous year % | |
| Global MINI Sales | 62,107 | -9.4% |
Unsurprisingly is correct, the first quarter of the year is always slow for every industry. It’s like a hangover after the crazy holiday buying season and year-end deals. But investors love panicking and saying the sky is falling. A company would have to lose sales for multiple quarters in a row to really be in trouble.
I can’t wait to see these new MINIs on the road and maybe some great lease deals to boot.