Mini sales slide as the brand totally refreshes its vehicle lineup and expands its presence into the EV market.
Mini posted lower than expected sales numbers for 2024.
The car industry had a good 2024 when it comes to sales with many automakers posting year-over-year gains in car sales. However, not all companies benefitted from this strong infusion of good fortune with some posting sales declines. While Stellantis is the most high-profile company to post losses for the year, it’s not the only firm to report declines in 2024.
British auto brand Mini also posted losses as the brand prepares to not only refresh its entire vehicle lineup but also expand its reach in the EV segment with several new models that will help Mini reach new segments and hopefully make up for the short-term burn with long-term gains in sales and profits.
Mini’s numbers paint a deceiving picture
The decreased sales were blamed on new model turnover and a massive recall that pinched dealerships.
At first glance, the sales numbers the brand posted for the year look bad with reps reporting that sales dipped 21.5% in 2024 with 26,299 units sold for the year versus the 33,497 that it sold in 2023. These figures are not great but unlike Stellantis, Mini is not grappling with turmoil on multiple fronts. Instead, reps admitted that the brand was a victim of unfortunate timing with 2024 being used to completely refresh the entire vehicle lineup. The Cooper and Countryman were all revamped while the slow-selling Clubman was discontinued.
Mini also had its dealerships sell down all of their old inventory to help make room for the new models. However, these plans went off the rails when their products were included in a large BMW Group recall of vehicles over a brake-system issue and a stop-sale order later on. This left many dealers with no new inventory and the lack of outgoing models put them in a bind when it came to sales with fewer vehicles being available for customers to purchase.
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Reinforcements are coming for Mini
New models like the Aceman are bringing EV efficiency in a stylish package and will also help spearhead a push into the EV segment.
While 2024 was a figurative disaster for Mini, the new year promises to be more fruitful for the brand. The new Cooper and Countryman models will make their presence felt in showrooms. In addition, the brand is also launching the new Aceman EV which will give the firm a fresh entry in the EV market. The Aceman will soon be joined by other EV entries over the next few years as the brand slowly transforms into an all-electric company.
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