BERLIN -- BMW said it expects over 50 percent of its vehicle sales to be all-electric models well ahead of its 2030 target.
By 2025, a fourth of sales will be all-electric, the automaker said, rising to a third by 2026 -- an ambitious leap from the 1-in-11 ratio seen last year.
After doubling sales of battery-only powered BMW and Mini brand cars last year, BMW said sales of full-electric vehicles will likely account for 15 percent of total deliveries this year, up from 9 percent.
BMW expects full-electric models to account for at least 20 percent of total sales by 2024 and 50 percent "well ahead of 2030."
The automaker on Wednesday confirmed preliminary results for 2022 that were released last week, including an 8.6 percent margin in the autos business on earnings before interest and tax of 10.6 billion euros ($11.37 billion) and cash flow of 11.1 billion euros.
BMW forecasts an 8 percent to 10 percent margin for its autos segment in 2023, up from last year's 7 percent to 9 percent target, as sales of its most expensive vehicles such as the 7 Series offset weaker pricing for entry-level luxury models.
The company expects stable demand in premium markets in 2023 despite inflation and rising interest rates.
BMW said global deliveries will likely increase slightly after dropping 4.8 percent last year due to supply-chain disruptions, although it expects global markets to cool. It indicated that prices for new and used cars will settle after increases in 2022.
Still, BMW expects growth in the "mid-double digits" percentage range for its 7-Series and Rolls-Royce models