BMW Group Newsroom Canada

https://www.concorsodeleganzavilladeste.com/blocks/tickets-packages

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

CONCORSO D’ELEGANZA VILLA D’ESTE 2026

Thu, 26 Mar 2026 10:00:00 +0100

Munich/Cernobbio. From May 15 to 17, 2026, BMW Group Classic is organizing the legendary Concorso d'Eleganza Villa d'Este in cooperation with the luxury hotel Villa d'Este.

Around 50 of the most spectacular automobiles of their time will compete for the coveted trophies in the following competition classes, first and foremost the "Trofeo BMW Group – Best of Show", with which the top-class jury will select the overall winner of the Concorso d'Eleganza.

Class A Automotive Tailoring: The Decade of Opulence, 1924-1934

Class B Future Couture: Dressed For Speed, 1935–1939

Class C Viva Villa d’Este: Extravagant 1950s Style

Class D “The Top Goes Down, The Price Goes Up”: Selling Sunshine

Class E They Earned Their Names: Enzo’s Endurance Legends

Class F Every Scratch Tells A Story: Ageing Gracefully Without Restoration

Class G From Carnaby Street To The Autostrada: The Swinging GT Driver

Class H The Pace Race: The Supercar Comes of Age

Once again, spectacular concept cars from various manufacturers will be awarded prizes in their own traditional class.

The Concorso d'Eleganza parade on the terrace of the Villa d'Este luxury hotel will take place as usual on Saturday. In addition to the main prize "Trofeo BMW Group - Best of Show", all participants will compete with their vehicles for the respective class victories, the "Coppa d'Oro" audience award, presented by the Villa d'Este, and numerous other prizes, such as the "Trofeo del Presidente", which will be awarded by the Head of BMW Group Classic and President of the Concorso d'Eleganza Villa d'Este, Helmut Käs.

Jonas Kaufmann, star tenor and BMW Group Classic brand ambassador, will once again present the "Trofeo Il Canto del Motore" for the best engine sound, chosen by the jury.

BMW ALPINA was introduced in early 2026 as a manufacturer of automobiles for enthusiasts who appreciate the extraordinary. The traditional Concorso d'Eleganza Villa d'Este is the perfect setting for the independent, exclusive brand within the BMW Group. Following the presentation of the new word mark and the new brand emblem, BMW ALPINA will present itself directly to the public for the first time at Lake Como.

Once again this year, BMW Motorrad will present a spectacular vision vehicle at the Concorso d`Eleganza Villa d`Este that sets new standards in exclusive performance and modern design.

The celebrations of the already announced anniversaries will be complemented by the spectacular special exhibition "Touring Car Legends" on the occasion of "40 Years of the BMW M3". Not only legendary BMW M3 (E30) racing touring cars will be presented on the grounds of Villa Erba, but also the respective contemporary competition vehicles from the touring car scene. Racing drivers Johnny Cecotto (VEN), Emanuele Pirro (IT) and Roberto Ravaglia (IT) will be on site to recount anecdotes from their active time as BMW works drivers and answer visitors' questions. A corresponding "fan talk format" will be realized.

On Sunday, May 17, the "Concorso d'Eleganza Villa d'Este Public Day - Il Festival" will once again give the general public the opportunity to experience the Concorso d'Eleganza Villa d'Este vehicle parade. In addition, the events at Villa Erba will offer a wide range of entertainment for every age.

The "Amici & Automobili - Wheels & Weisswürscht" event format, which is well-known from Munich and also established on Lake Como, will once again be an integral part of the automobile weekend on Lake Como in 2026. On Saturday, May 16, car enthusiasts, automobile clubs and communities from all over the world will be on the grounds of Villa Erba with around 120 vehicles to show off their automotive highlights. The range of vehicles is huge, open to all brands and offers an interesting mix of different vehicles from various decades and concepts. The "40 years of the BMW M3" anniversary will also be honored here with a large number of vehicles on display. The areas by the lake will then become the BMW M3 meadow with all generations of the icon.

The "Trofeo BMW Group - Best of Show" winner will be presented with a special timepiece from A. Lange & Söhne: the unique 1815 CHRONOGRAPH in 18-carat white gold with a solid red gold dial and the hand-engraved red gold dial and the hand-engraved coat of arms of the Concorso d'Eleganza Villa d'Este on the hinged back. A. Lange & Söhne has been a loyal companion of the Concorso d'Eleganza Villa d’Este for 15 years. This long-standing partnership will be honored accordingly during the event.

Broad Arrow Auctions, driven by Hagerty (NYSE: HGTY), returns as the official auction partner of BMW AG for the prestigious Concorso d’Eleganza Villa d’Este, presenting over 70 of the world’s most desirable collector cars for sale on 16-17 May 2026, with preview days taking place from Friday 15 May.

Early highlights for this premier collector car auction feature technological and design marvels of motoring history, including a 1929 Bugatti Type 43 Roadster by Eugène Matthys, a stunning 1926 Bugatti Type 37 Grand Prix and modern-era supercar heroes such as a 1990 Ferrari F40 and an iconic 2011 BMW M3 GTS. Full details of the sale, including available lots, can be found under https://www.broadarrowauctions.com/events .

BMW Group Classic would like to thank its partners and sponsors A. Lange & Söhne, Broad Arrow Auctions, Vranken Pommery Monopole and Schedoni Modena for their support.

Helmut Käs, Head of BMW Group Classic and President of the Concorso d'Eleganza Villa d'Este:

"We can hardly wait for the event to start, the excitement grows every year as the Concorso d'Eleganza Villa d'Este draws closer. I can already promise that the field of participants at the Concorso will be spectacular. I am grateful to have a reliable partner at my side in the luxury hotel Villa d'Este, which together with the BMW Group sets new standards in organization year after year. I would also like to thank the loyal sponsors of the Concorso d'Eleganza Villa d'Este."

Davide Bertilaccio, CEO Villa d’Este S.p.A:

“In partnership with BMW Group Classic, we are proud to create an atmosphere where excellence comes naturally, where history continues to inspire innovation, and where every guest becomes part of a truly timeless and extraordinary experience. This is made possible thanks to the commitment and dedication of the Villa d’Este team, in close collaboration with the BMW team, as well as their meticulous attention to detail, which makes this event truly memorable. As the event draws closer, we are delighted to present to our guests the latest edition of the Concorso d’Eleganza Villa d’Este. More than a tribute to a distinguished tradition, it represents one of the most prestigious and longest-running Concours events in the world, a living celebration of craftsmanship, passion and cultural heritage.”

Tickets for "Amici & Automobili - Wheels & Weisswürscht" and the "Concorso d’Eleganza Villa d’Este Public Day - Il Festival" can be purchased here:

Stay informed on these channels:

Concorso d'Eleganza Villa d'Este App for iOS and Android (please download the latest version)

Concorso d'Eleganza Villa d'Este website: https://www.concorsodeleganzavilladeste.com/

Instagram: https://www.instagram.com/concorsodeleganza_vde/

BMW Group Classic Media Server für Downloads:

https://bmwgroupclassic-downloads.com/Events/2026/

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

Additional photo material of the BMW i3 design premiere with Oliver Zipse, Chairman of the Board of Management of BMW AG, and Adrian van Hooydonk, Head of BMW Group Design

Wed, 18 Mar 2026 11:35:00 +0100

Please find attached additional photo material of the BMW i3 design premiere with Oliver Zipse, Chairman of the Board of Management of BMW AG, and Adrian van Hooydonk, Head of BMW Group Design

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

Statement Walter Mertl, Member of the Board of Management of BMW AG, Finance, Annual Conference 2026

Thu, 12 Mar 2026 08:22:00 +0100

Statement

Walter Mertl

Member of the Board of Management of BMW AG, Finance

Annual Conference 2026

BMW Welt in Munich , 12 March 2026, 08.00 a.m.

Good morning,

Ladies and Gentlemen,

For the BMW Group, 2025 was marked by fully leveraging our operating model to deliver solid results in the face of a challenging environment.

The year was heavily impacted by tariffs, developments on currency markets, especially in the second half of the year, as well as the intense market situation in China.

In the face of these headwinds:

we executed consistently on our strategy and took advantage of our flexible global structures.
we balanced sales across our regions and our brands.
we reduced R&D and capex thanks to early investments in the NEUE KLASSE; and
we drove further cost reductions across the entire company.

With this, we were able to deliver on major KPIs in our operational business:

a stable Group-EBT margin of 7.7% – the same as 2024 – with Group earnings of more than 10 billion euros;
volume growth to 2.46 million Group vehicles;
the continuation of our electrification story with an increase in BEV share to almost 18% and xEV share to over 26% of total sales;
an electrified share in Europe of over 40%;
a CO₂ fleet emissions figure in the European Union of 90.0 grams per kilometre – 2.9 grams below the applicable target;
an Auto EBIT margin within our guided corridor;
over 3 billion euros Free Cash Flow;
and solid capital returns.

As I promised at the Annual Conference one year ago, we have addressed all aspects of cost – R&D, SG&A, manufacturing and material costs – to secure a consistent year-over-year reduction in every quarter. This amounted to an overall Auto EBIT tailwind of approximately 2.5 billion euros for the year.

With our diligent management of the business, we have been able to offset a large share of the challenges we faced. Without the full-year tariff burden of approximately 1.5 percentage points of EBIT margin, both our Group earnings as well as our Auto EBIT would have been above the previous year.

Let me now take you through our financial figures in detail.

For the full year, Group revenues totalled 133 billion euros. Earnings before Tax at Group level amounted to over 10 billion euros, as anticipated at Q3. This represents a single-digit percentage decline of 6.7%. The resulting Group EBT Margin remained stable at 7.7% for the year. Earnings per share even rose slightly year-on-year.

If we look at the breakdown of the Group performance by segment:

The Automotive Segment delivered 6.3 billion euros in earnings with an EBIT margin of 5.3%.

Motorrad EBIT reached 178 million euros with a margin of 5.7%.

Financial Services generated 2.4 billion euros in earnings before tax and a Return on Equity of 14.3%.

All three operational segments were therefore within their respective guidance corridors.

Other Entities improved to just over 1 billion euros in EBT. The positive trend after nine months continued into Q4.

And finally, Eliminations amounted to an EBT of 629 million euros. This reflects the positive development in Q4, as anticipated.

Let’s look at how the Automotive Segment performed across key metrics:

Over the course of 2025, the BMW Group sold over 2.46 million BMW, MINI and Rolls-Royce vehicles to customers worldwide, an increase of 0.5% over 2024.

Looking at the regions, we see our global model at play, as we steer effectively across geographies. As Oliver Zipse highlighted before, sales in Europe and the United States outperformed the market, delivering an increased market share and overcompensating the development in China.

We delivered a stable monthly run-rate for the BMW brand of around 50,000 vehicles throughout the entire year in China – despite the intense market environment. During the course of the year, we have taken actions to consolidate dealer structures and address pricing, which will underpin this stability in the market.

Excluding the Chinese market, global Group sales in 2025 grew by 5.9%.

Electrified vehicles are both a foundational pillar in our strategy, and also a key growth driver – thanks to our expanding portfolio of attractive products.

Oliver Zipse has already taken you through the figures in detail. But the highlights were:

a total of 642,000 electrified vehicles delivered in 2025;
representing solid growth of 8.2% and an overall xEV share of over 26%.
and deliveries of all-electric vehicles of 442,000 units for a share of almost 18%.

Revenues in the Automotive segment came in at nearly 118 billion euros, 5.9% below 2024. Approximately half of this decrease is due to negative currency effects. The remainder results mainly from global pricing pressure.

Let’s look at the year-on-year Automotive EBIT result in detail, coming from our previous year’s earnings.

The net balance of currency and raw material positions resulted in a headwind of 600 million euros. Negative trends in FX outweighed the slight positive effects from raw materials, particularly in the second half of the year. This adverse FX development is expected to carry into the first half of the current year, mainly in Q1.

Compared to 2024, the net effect of volume, model mix and pricing weighed on Automotive EBIT by a total of 1.8 billion euros. The overall mix effect was positive, driven notably by a strong share from the mid-class including 5 Series growth as well as a record M performance. For the full year, pricing was a significant headwind of 2 billion euros.

In line with our planning, we continued to decrease operating costs in 2025. As planned, we reduced R&D expenses following the peak in 2024 – with a nearly 800-million-euro reduction year-on-year. SG&A savings represented 900 million euros, continuing the trend from the first nine months.

Other Cost Changes amounted to a headwind of 800 million euros. This development resulted from a few areas:

On the one hand, tariffs had a negative impact of approximately 1.5 percentage points on the Auto EBIT margin. In addition, a softening market on residual values weighed on earnings. They remained positive, but lower than the previous year.

On the other hand, warranty expenses were significantly lower year-on-year, as outlined at Q3. An additional positive effect came from a high three-digit million saving in manufacturing and material costs.

Overall, we reduced costs by 2.5 billion euros for the full year through our active steering of R&D, SG&A and manufacturing and material costs. Through this, we were able to offset all headwinds except a portion of the approximately 1.5 percentage point tariff burden, resulting in a net year-on-year decrease of 1 percentage point in EBIT.

In total, segment earnings in 2025 reached 6.3 billion euros.

The reported Automotive EBIT margin came in at 5.3%. Excluding the 1.3 billion euros depreciation resulting from the PPA of BMW Brilliance Automotive, the EBIT margin reached 6.4% for the year. And that still includes the headwind of approximately
1.5 percentage points from tariffs.

As you know, our focus is consistently on our reported figures. Due to different approaches in the industry, however, consideration of PPA and Tariff burden ensures better comparability of operational performance.

Looking at R&D and Capital Expenditure in detail:

We made early investments to implement our strategy, which we see as we look at R&D and CapEx development in 2025.

Group expenditure for research and development according to the German Commercial Code for the year amounted to 8.3 billion euros. This is a decrease of nearly 800 million euros, or 8% below the peak of 9.1 billion euros in 2024. This translates to an R&D ratio of 6.2%. Given the lower revenue, the ratio only declined slightly year-on-year.

Group capital expenditure totalled 7.2 billion euros, a year-on-year decrease of over 1.8 billion euros from the peak of 9.1 billion in 2024 – or a 20% reduction. This resulted in a ratio of 5.4%. The capex ratio excluding right-of-use assets came in at 4.9%.

As promised, R&D and capital expenditure have already significantly decreased from their peak in financial year 2024. Despite the rollout of models of the NEUE KLASSE, we will maintain this trend going forward. This means in both absolute and relative terms, we’re heading back towards our strategic corridors, which are 4 to 5% for R&D and less than 5% for Capex – by 2027.

Moving to free cash flow:

Total segment earnings before tax amounted to 5.9 billion euros for the year.

Working Capital contributed positively with 900 million euros, mainly due to strict management of inventories.

The net effect from capital expenditure and depreciation reduced free cash flow by 2.3 billion euros.

Changes to provisions had a negative impact of 1.3 billion euros, mainly due to the utilization of warranty provisions.

Following the 2.7-billion-euro figure communicated at Q3, free cash flow developed positively in Q4 and reached 3.2 billion euros at year-end. This was in line with our expectations of above 2.5 billion euros for the year.

Our financial strength is further underscored by our Automotive net financial assets. At year end, this came in at over 44 billion euros.

Let’s now turn to our Financial Services segment.

As a key component of our BMW ecosystem, the segment consistently contributes to Group profitability.

In 2025, new business developed positively throughout the year with nearly 1.73 million new financing and leasing contracts concluded. This represents growth of almost 2% year on year.

The increase is due in particular to the positive business development in Europe as well as the changed competitive environment in China in the second half of the year. Since the end of June, the market situation has been influenced by the significant reduction in commissions from local Chinese banks in connection with the brokering of financial and insurance products for end customers.

Penetration rates for lease and loan offerings increased by 4.0 percentage points to 46.6%.

Overall, new business volume at Financial Services reached an all-time high, growing by 2% to 65.8 billion euros, despite negative currency effects.

Segment earnings before tax reached 2.4 billion euros. The moderate decrease compared to 2024 is due to lower income from the resale of end-of-lease vehicles, as well as a tax payment related to changed assessments of operating taxes from previous years. Residual values remain positive, but lower than the previous year.

The credit loss ratio of 0.28% was within our expectations.

Return on Equity for the full year reached 14.3% and therefore within the guided target corridor of 13 to 16%.

Ladies and Gentlemen,

In 2025, the BMW Group achieved Group earnings before tax of 10.24 billion euros. Thanks to a stable year-on-year profit attributable to shareholders of BMW AG amounting to 7.29 billion euros, the Board of Management and the Supervisory Board will propose to the Annual General Meeting a total dividend payment of 2.67 billion euros.

The proposed dividend represents a payout ratio of 36.6%, which is consistent year-over-year and in the upper half of our strategic target range of 30 to 40%. This amounts to a dividend of 4.40 euros per share of ordinary stock and 4.42 euros per share of preferred stock.

Additionally, we completed the second share buyback program in early 2025 before starting the third program after the AGM in May. The total from both programs amounted to a payout of 1.25 billion euros in 2025. Our third share buyback program will run until April 2027. We are currently running the second tranche of this program – with a volume of 625 million euros for ordinary shares – that will be completed by August 31, 2026, at the latest. The third tranche is earmarked for after that.

For the financial year 2025, the total shareholder return of close to 4 billion euros – comprising the proposed dividend and share buyback – exceeds free cashflow in the Automotive segment. This further underscores our commitment to capital returns.

That brings me to our outlook for the current financial year.

What are our expectations for 2026?

In Europe and the USA, we see some growth potential.

In China, we have responded to the market environment by taking a number of steps to stabilise transaction prices. Average sales figures over the past few months indicate that sales in China could reach last year's level.

Consequently, we forecast global deliveries of BMW, MINI and Rolls-Royce vehicles to be at previous year’s level. Due to model cycle effects as well as shifting regulatory and market dynamics, we also expect the share of fully electric vehicles to be at the same level as previous year.

Turning to Auto EBIT development: we continue to work diligently on reducing costs and will see tailwinds from reduced investments, lower manufacturing and material costs, declining R&D expenditure as well as reduced SG&A in the 2026 financial year. We anticipate a negative impact of approximately 1.25 percentage points from tariffs on the Auto EBIT margin – compared to the 1.5 in 2025.

Given the significant investments made into NEUE KLASSE in preceding years, we will see a material increase in depreciation and amortization from both capex and capitalized R&D. While we will continue to make significant reductions in R&D expenditure, the additional depreciation and a lower R&D capitalization ratio, which is expected in the 30% area, will result in a significant P&L burden. Other headwinds in 2026 include FX and raw materials; the measures taken in China to stabilize transaction prices; and, finally, lower income from used car remarketing.

The reductions we will achieve on the cost side will not fully offset these headwinds. We therefore expect an Auto EBIT margin in the corridor of 4 to 6% in 2026. The corresponding RoCE in the Automotive segment is forecast to be between 6 and 10%.

In the Financial Services segment, we again anticipate a Return on Equity of 13 to 16%.

Putting this all together, we expect Group Earnings before tax to be moderately lower than the strong result in 2025.

The full 2026 outlook for all key performance indicators is available in the BMW Group Report.

In addition, we expect a Free Cash Flow in the Automotive Segment at year-end of over 4.5 billion euros.

Ladies and Gentlemen,

For 2026, we will continue to systematically implement our strategic course, particularly with the launch of NEUE KLASSE product offensive and the rollout of its technologies across the portfolio. We will leverage flexibility in our global business model to tackle the challenging and dynamic operating environment.

At the same time, we will manage our operational business with continued focus on cost discipline. This will enable us to deliver financial results in line with our guidance and generate strong returns to shareholders.

Ladies and Gentlemen,

Let me pick back up on Oliver Zipse’s comments on sustainability and CO₂ emission reporting, before I hand back over to him.

For the BMW Group, we view sustainability holistically and as a competitive advantage. That is why we in our Annual Reporting disclose our sustainability performance fully to our investors and customers.

In line with our strategy and our commitment to the Paris Climate Agreement, the BMW Group considers the CO₂ emissions of vehicles – both for the new and existing fleet –over their entire life cycle: from raw material extraction and parts production to the manufacture of vehicles and across the use phase to end of life. We address all stages of the value chain with ambitious targets.

However, European CO₂ fleet emission regulations focus only on the use phase and do not recognize the full reduction potential along the entire value chain.

When it comes to reporting, emissions shown in sustainability statements do not always correlate to the actual generation of emissions of all vehicles on roads. For the 2025 financial year, the BMW Group reporting includes all vehicles sold in the year across their life cycle, including the CO₂ emissions from the supply chain for vehicles produced in the reporting year; from BMW Group production; from the assumed use phase of 200,000 kilometres for vehicles delivered in the reporting year based on the consumption mix of the reporting year; and from end-of-life disposal for vehicles produced in the reporting year.

However, the use phase emissions reported in line with European reporting frameworks do not consider all existing BMW Group vehicles still in use, but rather only those vehicles sold in the reported year.

This means that the European reporting framework neglects the reduction potential of the existing vehicle fleet. Here, there is significant leverage to quickly contribute to CO₂ reductions through use of eFuels and carbon neutral fuels such as HVO100. Immediate credit should be given – starting, for example, in 2027 – for the CO₂ reductions achieved using sustainable fuels, which should not be subject to limitations, such as caps on specific gram per kilometre values.

The European regulatory frameworks should reflect this holistic approach towards reducing overall emissions in the here and now – in both the new and existing vehicle fleet.

Because ultimately, every gram of CO₂ saved counts. That is what we at the BMW Group believe and what makes a true societal impact.

I’ll now hand back over to Oliver Zipse to provide additional strategic insights for 2026 and beyond.

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

Statement Oliver Zipse, Chairman of the Board of Management of BMW AG, Annual Conference 2026

Thu, 12 Mar 2026 08:00:00 +0100

Statement

Oliver Zipse

Chairman of the Board of Management of BMW AG

Annual Conference 2026

BMW Welt in Munich , 12 March 2026, 08.00 a.m.

Part I

Good morning, Ladies and Gentlemen,

2025 was, in many ways, a remarkable year for the BMW Group – above all, one that set our course for the future.

First:

We achieved a solid financial result, with Group earnings of more than 10 billion euros. Walter Mertl will provide more detail in just a moment.

Second:

We grew in 2025 – selling more vehicles than the previous year and expanding our leadership of the global premium segment.

Third:

Our technology-open strategy continued to demonstrate its strength. Demand for cars with combustion engines remained stable, while sales of our all-electric and electrified vehicles continued to grow.

Fourth:

Once again, through our own efforts, we significantly outperformed the EU’s CO₂ fleet targets for 2025.

And finally:

We successfully began the rollout of our NEUE KLASSE with the BMW iX3* – giving the BMW brand and the entire company crucial momentum for the future.

All of this shows: We deliver. Consistently. And continuously.

We have set the right course in recent years and do not need to change our strategic direction. In this way, we can keep the company on track for long-term success.

Standing here beside me is the new BMW iX3. This vehicle marks a pivotal moment in the BMW Group’s recent history: the series launch of our NEUE KLASSE.

Production of the iX3 has successfully ramped up at our new plant in Debrecen, Hungary. First customers have already received their vehicles. Since last week, the iX3 has been in European showrooms.

Demand for the iX3 is significantly exceeding our expectations, with strong orders from both private and fleet customers. We are also attracting many new customers who have never driven a BMW before.

Our order books for the iX3 are full and reach well into this year. We are exploiting the flexibility of our production and supplier network and increasing capacity in line with demand.

The NEUE KLASSE is a huge investment. Only a company that enjoys long-term economic success, like the BMW Group, can invest in its future on such a massive scale.

This success is built on three important parameters.

I like to call this the BMW Group’s strategic triangle.

First: Our balanced global positioning in sales and production.

Second: Our attractive product line-up across all brands, serving the entire premium segment.

And third: Our consistent strategic focus on technology openness.

I’ll talk about the last two points in the second part of my remarks, after Walter Mertl has spoken.

In 2025, we delivered around 2.46 million vehicles to customers worldwide – representing sales growth of 0.5 percent compared to the previous year.

This shows that our business model is robust and resilient.

In Europe, we increased our sales by more than seven percent – delivering more than one million vehicles to customers in Europe for the first time since before COVID.

We also made significant gains in the United States, with growth of five percent – even in a saturated market.

In our markets outside the main sales regions of Europe, the U.S. and China, we also posted growth despite the overall downward trend – with an increase of 3.4 percent over the previous year.

China remains our largest single market. However, due to the intense competitive market environment, our sales development fell short of our expectations for the year. Thanks to the strong overall performance in three of our four sales regions, we nevertheless achieved growth worldwide. This confirms the strength of our global footprint.

Our worldwide presence is a decisive competitive advantage.

All BMW Group brands contributed to our 2025 result.

Electrified models across all brands as well as the models from BMW M were the main growth drivers.

The BMW brand once again maintained its position as the global number one in its segment. Demand was particularly strong for core models like the X1, X3 and X5, as well as our 3 Series and 5 Series models.

BMW M continued its success story in impressive style in 2025 – increasing its sales for the 14th consecutive year.

With more than 213,000 vehicles delivered to customers, M reached a historic all-time high. The BMW M5* and M5 Touring* and the X3 M50* were the main drivers of this success.

This provides compelling proof of the enduring appeal and growing demand for top-level performance in the premium segment.

MINI achieved significant growth thanks to its new model family. Sales increased by nearly 18 percent compared to the previous year.

The main growth driver was the most versatile model in the line-up, the MINI Countryman+ – accounting for over 32 percent of the brand’s total volume.

MINI and electromobility are a perfect fit – and our customers clearly agree.

This is underscored by an impressive achievement in 2025: For the first time, the brand delivered more than 100,000 all-electric models to customers in a single year.

That’s more than one in every three MINIs delivered. In this way, MINI is making a major contribution to the electrification of the BMW Group.

At our ultra-luxury Rolls-Royce brand, the number of hand-built motor cars delivered to clients remained on the high level of the previous year.

The value and number of requests for highly individualised Bespoke continued to increase. The Home of Rolls-Royce at Goodwood is currently being modernised and expanded, to provide more space for both Bespoke and the marque’s pinnacle Coachbuild products.

BMW Motorrad confirmed its strong market position in the premium segment in the financial year 2025.

Despite a global decline in the total market for motorcycles above 500 cc, the brand delivered more than 200,000 vehicles for the fourth year in a row.

Most notably, the R 1300 GS and F 900 GS played a key role in BMW Motorrad’s market success in 2025.

Ladies and Gentlemen,

All of this shows that our multi-brand premium approach enables stability and growth.

Another major strength of our business model is our ability to meet diverse customer preferences, different regional requirements and technological developments in parallel.

Our electrified vehicles provide the clearest proof of this:

In 2025, we delivered more than 640,000 electrified vehicles to customers worldwide. That means they accounted for about 26 percent of our total sales – with all-electric vehicles making up around 18 percent.

Europe stands out, in particular, with electrified vehicles representing over 40 percent of sales. Plug-in hybrids were also in strong demand in 2025.

All of these factors make the BMW Group one of the leading providers of electromobility in the premium segment.

Thanks to our balanced mix of efficient drive technologies and growth in electrified vehicles, we once again outperformed the legal CO₂ requirements in the European Union.

Based on our preliminary internal calculations, we achieved fleet emissions of 90 grams of CO₂ per kilometre in Europe in 2025.

That once again places us well below the legal target – entirely through our own efforts. We do not need to rely on pooling with other manufacturers or averaging over several years.

This provides clear evidence that technology openness and effective climate protection are not mutually exclusive – but go hand in hand.

The BMW Group remains fully committed to the goals of the Paris Climate Agreement – while setting our own ambitious targets.

For example, by 2035, we aim to reduce our CO₂ emissions by at least 60 million tonnes compared to 2019 levels – and we intend to hold ourselves accountable to this target.

We are charting our own course – something that is more important now than ever before.

On the one hand, we see that regulatory frameworks in individual markets can be extremely volatile.

On the other, we are convinced that the EU experiment of mandating electrification will not deliver the desired results – to the contrary.

For this reason, we continue to pursue a long-term, holistic decarbonisation strategy.

We are committed to providing solutions not only for new vehicles, but also for the existing fleet on the roads – based on technology openness across the entire lifecycle of our vehicles.

And for this reason, we also integrate fuels such as HVO100 and advocate for 100 percent credit in CO₂ calculations. In addition, recognising and crediting green steel would strengthen the European steel industry and safeguard jobs in Europe. Using more recycled materials in new cars reduces our climate footprint – as demonstrated by our NEUE KLASSE.

A holistic approach strengthens European value chains, secures jobs and keeps the industry competitive. At the same time, it enables effective climate protection and real CO₂ reductions.

Companies should be free to provide solutions geared towards customer needs, while also investing in appropriate new technologies to meet the European Union’s climate goals.

As a global player, we stand for free trade and collaboration. We do not believe in protectionism, but rather in the power of innovation to compete on the global stage.

However, with the Industrial Accelerator Act, the EU Commission is continuing its protectionist course while not addressing home-made challenges like high energy prices.

One thing is clear: without international value chains, the ramp-up of electromobility and the development of powerful battery technologies are not feasible.

Labels such as “Made in the EU” or “Union origin” disadvantage European companies with global value chains if they do not recognize that each Euro spent in Europe counts the same for prosperity and jobs. No matter if the car stays in Europe or is exported.

Instead, the development of expertise and production for battery cell technologies in the EU should be promoted and effectively incentivized as fast as possible.

This year, together with policymakers, we must find realistic solutions that allow us to achieve our climate goals and to strengthen our economy and competitiveness.

Ladies and Gentlemen,

2025 was shaped by very different developments:
strong growth in Europe and the US, a much more challenging situation in China, rising competitive pressure and additional headwinds from tariffs.

Nevertheless, the BMW Group continues to deliver a stable performance.

Because we acted early. We adjusted our internal cost structures and maintained our strategic direction.

This combination of strong operating performance today and a clear long-term perspective is a crucial success factor for our company.

And that brings me back to the vehicle standing next to me.

The iX3 and the technologies of the NEUE KLASSE testify to our innovation and performance.

It underlines that we are “already ahead”.

Walter Mertl will explain in more detail how our strong operating performance is reflected in our financial figures.

We will then take a look at 2026, with more new products on the way.

Part II

Ladies and Gentlemen,

Looking ahead to this year and beyond, three key factors will be decisive:

First:
For our 2026 targets: the product line-up currently available, which we have built up gradually over the past few years.

Second:
For this year and the years to come: the rollout of additional NEUE KLASSE models and integration of its technologies across the entire product range.

And third:
The tech clusters of the NEUE KLASSE, which enable rapid advances and collaboration with leading tech players worldwide.

Let’s start with the first item:

The company’s current product portfolio across our BMW, MINI, Rolls-Royce and BMW Motorrad brands offers a range of premium options in all key segments.

From MINI, in the urban compact-car segment, to Rolls-Royce, in the ultra-luxury class.

At the beginning of this year, we added another highly exclusive dimension to our brand portfolio: BMW ALPINA.

The long-established BMW ALPINA brand embodies maximum performance and exceptional driving comfort, combined with unique options for individualisation.

This makes it an ideal addition to our existing product range in the segment for individual, highly customised vehicles.

In this way, we are tapping into a highly profitable segment with great growth potential, positioned above the BMW brand’s top models and below our Rolls-Royce luxury brand.

Overall, the BMW Group offers one of the industry’s most comprehensive and diverse premium portfolios.

A core strength of this line-up is our consistent focus on technology openness. We committed early to a market-driven mix of different drive technologies.

With this approach, the BMW Group continues to chart its own course – enabling us to systematically respond to the diverse requirements of markets and customers well into the future.

Because we chose this path early, making the necessary investments at the right time, we can now fully realise the market potential of our products.

Today, we offer battery-electric vehicles in all relevant segments. By the end of the year, we will have a total of 20 BEVs across all brands. This will further strengthen our competitive position.

At the same time, plug-in hybrids also remain important.

This is not just a “bridging technology” – for many people, in all regions of the world, they are the only way to integrate electric, locally emission-free mobility into their everyday lives.

Together with our range of highly efficient combustion engines, this approach provides maximum flexibility – ensuring that regional market opportunities can be consistently exploited.

This strong line-up lays the core foundation for the company’s business success in 2026 – and beyond.

At the same time – and that brings me to my second point – we are systematically building on our current advantage with the NEUE KLASSE.

With the release of the BMW iX3, the market launch of the NEUE KLASSE has just begun.

But this is only the start.

Additional all-electric models with the new design and innovations of the NEUE KLASSE will follow.

Another notable highlight will be unveiled next week, when we present the BMW i3, the first variant of the next generation of the BMW 3 Series.

The new i3 brings our NEUE KLASSE right into the heart of the BMW brand.

Prepare to be amazed by what the technologies of the NEUE KLASSE can do in a vehicle like the 3 Series. It is fair to say that they take “Sheer Driving Pleasure” to a whole new level.

Here’s a sneak preview of what we will be unveiling
next week.

Ladies and Gentlemen,

I’m looking forward to presenting this incredible car to our BMW fans worldwide next week.

After that, we will meet again at Auto China in Beijing, to introduce the Chinese version of the iX3 as the next NEUE KLASSE model.

We developed this vehicle exclusively for China, together with our local R&D team in the market.

By doing so we ensured that the product meets the specific wishes and needs of our Chinese customers.

The result: The most Chinese car we have ever built.

Initial feedback from the local media has been overwhelmingly positive – with praise, in particular, for its driving characteristics. The China-specific digital features have also been very well received.

In 2027, BMW M will usher in a new era in the high‑performance segment – with the first all-electric M vehicle with racetrack capabilities, based on the NEUE KLASSE.

Alongside development of the NEUE KLASSE, we have also created the essential conditions for a rapid ramp-up within our supplier and production network.

Production of the iX3 has successfully begun at our new plant in Debrecen.

We will start production of the new BMW i3 at our main plant here in Munich in the second half of the year. To do so, we have completely modernised the plant during ongoing operations.

From late 2027, we will build only electric vehicles in Munich.

Production of high-voltage batteries will also begin at our new plant in Irlbach-Straßkirchen in the second half of the year. This facility will supply our plants in Germany with our sixth-generation high-voltage batteries.

Our plant cluster in Shenyang, China, is also ready to build the NEUE KLASSE in China, for China.

At our largest plant, in Spartanburg in the U.S., we are systematically modernising the production system for the technologies of the NEUE KLASSE. This also includes the new high-voltage battery assembly facility in nearby Woodruff.

Across all plants in our production network, we are creating the necessary conditions to implement the technologies of the NEUE KLASSE as quickly as possible in all BMW models.

Between now and 2027 alone, we will bring more than 40 new or updated models to market.

Each of them will benefit from the technologies of the NEUE KLASSE – always tailored to concept requirements and independent of the drive technology.

The best example of this is the next generation of our BMW X5. This summer, we will officially unveil the successor to our current model.

The X5 will be the first BMW model to be offered with five different drivetrain variants: with highly efficient conventional drives, as a plug-in hybrid, battery-electric and – from 2028 – also powered by hydrogen.

In this way, we are laying the foundation to successfully meet the diverse requirements and customer needs around the world, both today and in the future.

Shortly before that, at the Beijing show, we will be showcasing the first model update to feature technologies from the NEUE KLASSE: the BMW 7 Series.

The result is an almost completely new vehicle. We are taking full advantage of the new possibilities from NEUE KLASSE technologies and raising our luxury sedan to a whole new level in terms of both appearance and technology.

That brings me to my third point:
the technology clusters of the NEUE KLASSE and their potential.

With the technology clusters developed specifically for the NEUE KLASSE and our modular approach to technology, we can integrate market-specific functionalities and content into our vehicles.

At the same time, we are strengthening our R&D capabilities to enable us to respond more quickly and flexibly to local customer needs and provide appropriate solutions.

In our key sales regions, we have already implemented numerous features in collaboration with leading local partners.

For example, in the Chinese market, we are working with Alibaba Banma to establish the next generation of intuitive in-car voice control.

In China, the BMW Intelligent Personal Assistant is also being expanded to include DeepSeek functionality.

In most markets, including Europe, we will be integrating Alexa+ as the centrepiece of our BMW Intelligent Personal Assistant.

Thanks to the advanced Large Language Model technology of Amazon Alexa+, our customers now benefit from an even smarter, more connected and highly personalised voice assistant.

With our driver assistance systems, we continue delivering the best-possible customer experience in each region – tailored to local requirements.

To achieve this, we work closely with selected partners.
Our guiding principle remains the same: We always strive for smart, symbiotic and safe solutions.

Last summer, we launched a new cooperation in China with Momenta. A leading local provider of ADAS technology. Outside China, we are collaborating with the American company Qualcomm.

Both collaborations focus on the co-development and integration of software that adapts to different road conditions, traffic scenarios and user needs – relying on state-of-the-art AI algorithms and data-driven methods.

These examples highlight the extraordinary flexibility and scalability of our tech clusters.

With the software-defined NEUE KLASSE, we maintain control over all systems and can deploy them simultaneously worldwide.

We are also able to rapidly integrate local technology stacks, giving our customers access to their preferred innovations and features.

Continuous over-the-air updates ensure that our vehicle software is always up to date. All functionalities are improved on an ongoing basis to permanently enhance the customer experience.

Ladies and Gentlemen,

As you can see, the BMW Group remains successful and highly innovative. Our current product range is one of the broadest and most attractive line-ups in the premium segment worldwide.

With the NEUE KLASSE and its technologies, we have secured a significant competitive advantage. We will leverage these strengths to drive our economic success.

However, it is also clear that our world remains unstable, and numerous risks will persist in the current financial year.

We meet these challenges with strategic consistency and with market- and opportunity-driven vision.

Our global footprint – in sales, research and development, and production – provides us with the foundation to mitigate uncertainties and respond flexibly to unforeseen events.

We will continue to build on these strengths in 2026 and in the years to come.

Thank you very much.

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

BMW Group Plant Rosslyn reaches 100,000 fourth-generation BMW X3 production milestone

Wed, 11 Mar 2026 14:03:37 +0100

Pretoria. BMW Group Plant Rosslyn has reached a significant production milestone with the completion of its 100,000th fourth-generation BMW X3, marking an important moment for the South African manufacturing facility and the people behind its success.

The milestone reflects the collective effort of associates across the plant and the broader ecosystem of suppliers, logistics partners and dealerships that support vehicle production. Together, these teams contribute to delivering vehicles that meet BMW Group’s global standards for quality and performance.

The 100,000th vehicle produced is a Fire Red BMW X3 plug-in hybrid destined for Australia. BMW Group Plant Rosslyn is the only production facility globally manufacturing the BMW X3 plug-in hybrid for international markets, underscoring the plant’s strategic role within BMW Group’s global production network. Located north of Pretoria, BMW Group Plant Rosslyn continues to play an important role in South Africa’s automotive industry. Since the plant’s inception, more than 1.8 million vehicles have been produced at the facility, including the previous third-generation BMW X3.

Behind every vehicle produced at BMW Group Plant Rosslyn is a team of people. Production associates, technicians, engineers and support teams work together across multiple production stages to ensure each vehicle meets the high standards expected by customers.

“Producing 100,000 fourth-generation BMW X3 vehicles is a significant milestone for BMW Group Plant Rosslyn and a testament to the dedication and professionalism of our associates,” said Danny Bester, Director of BMW Group Plant Rosslyn. “Every vehicle that leaves this plant represents the skill, commitment and pride of the people who build it. It also reflects the trust that customers place in the BMW brand and in the quality delivered here in South Africa.”

The milestone also highlights the plant’s contribution to skills development and talent cultivation. Apprentices, trainees and graduate engineers gain hands-on experience in a real manufacturing environment, helping to develop the next generation of technical and engineering professionals in South Africa.

Each vehicle produced at BMW Group Plant Rosslyn moves through multiple production stations where associates focus on precision, teamwork and continuous improvement. For many employees, the milestone represents years of dedication and a shared commitment on the production floor.

While reaching this 100,000-vehicle milestone marks an important moment, work at the plant continues every day as teams remain focused on building vehicles with the same attention to quality, precision and care that defines the BMW brand.

ENDS

If you have any questions, please contact:

Corporate Communications
Angela Konert
Head of Business Communications

Phone: +27 71 666 2472
Email: Angela.Konert@bmw.co.za
https://newsroom.bmwgroup.com/global/en

The BMW Group

With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is the world’s leading premium manufacturer of automobiles and motorcycles and also provides premium financial services. The BMW Group production network comprises over 30 production sites worldwide; the company has a global sales network in more than 140 countries.

In 2024, the BMW Group sold over 2.45 million passenger vehicles and more than 210,000 motorcycles worldwide. The profit before tax in the financial year 2024 was € 11.0 billion on revenues amounting to € 142,4 billion. As of 31 December 2024, the BMW Group had a workforce of 159.104 employees.

The economic success of the BMW Group has always been based on long-term thinking and responsible action. Sustainability is a key element of the BMW Group’s corporate strategy and covers all products from the supply chain and production to the end of their useful life.

www.bmwgroup.com

LinkedIn: http://www.linkedin.com/company/bmw-group/

marc.belcourt@bmwgroup.ca

X: https://www.x.com/bmwgroup

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

MINI Canada announces North American premiere of the MINI JCW x Deus Ex Machina Concept at the 2026 Canadian International AutoShow.

Wed, 04 Feb 2026 14:00:00 +0100

Richmond Hill, ON. MINI Canada is thrilled to announce its presence at the 2026 Canadian International AutoShow (CIAS) at the Metro Toronto Convention Centre, showcasing a bold and sporty lineup highlighted by the North American premiere of the striking MINI JCW x Deus Ex Machina concept. The exhibit will be located on Level 700, with a MINI drive experience returning to Level 500 along with BMW — continuing the popular format from last year.

North American premiere: MINI JCW x Deus Ex Machina Concept
Revealed earlier this year, the MINI JCW x Deus Ex Machina concept fuses the iconic MINI John Cooper Works performance with the spirit of the renowned lifestyle brand Deus Ex Machina. This one-of-a-kind design features unique, custom elements such as a sleek, matte paint finish, signature Deus Ex Machina graphics, and exclusive accessories — all paying tribute to a shared passion for creativity, craftsmanship, and thrilling driving experiences. This concept car marks an exciting collaboration and a stunning statement for MINI fans and automotive enthusiasts alike.

"Bringing the MINI JCW x Deus Ex Machina concept to the 2026 Canadian International AutoShow is truly special,” said Patrick Clancy, Director of MINI Canada. “It’s a rare and unique opportunity to showcase the North American debut of such an exciting and extreme vehicle that perfectly embodies MINI’s spirit of individuality.”

Sporty John Cooper Works lineup on display
In addition to the concept, the MINI booth will exclusively feature the dynamic John Cooper Works (JCW) lineup: the agile and iconic MINI JCW 3 Door and the versatile MINI JCW Countryman ALL4. Known for their exhilarating performance and race-inspired engineering, these sporty models boast powerful turbocharged engines, sharp handling, and distinctive JCW styling cues that deliver the ultimate driving excitement.

MINI JCW 3 Door: Compact, nimble, and packed with 228 horsepower from its turbocharged 2.0L engine, this model blends classic MINI design with thrilling sportscar performance.
MINI JCW Countryman ALL4: The most powerful MINI SUV ever, offering 312 horsepower, all-wheel drive, and a perfect balance of performance and practicality for adventurous drivers.

“We’re excited that MINI has chosen the AutoShow for the North American debut of its JCW x Deus Ex Machina Concept, and we know enthusiasts are going to be thrilled to not only see these vehicles but also get to test drive some as well,” said Jason Campbell, General Manager, Canadian International AutoShow.”

Experience MINI at 2026 CIAS
Visitors will have the opportunity to immerse themselves in the MINI brand with exclusive test drives of MINI models on Level 500, just like last year. The MINI experience promises to be both interactive and exhilarating, inviting attendees to feel the unmistakable go-kart handling and spirited performance that define MINI.

Event Details:

MINI Exhibit: Level 700, Metro Toronto Convention Centre
MINI Drive Experience: Level 500
Dates: February 13 – 22, 2026

The 2026 Canadian International AutoShow is Canada’s premier automotive event, attracting over 300,000 visitors annually and offering the perfect platform for MINI to showcase its unique character, creativity and joie de vivre.

Don’t miss this chance to witness the North American debut of the MINI JCW x Deus Ex Machina concept and explore the thrilling performance of the MINI John Cooper Works lineup at the 2026 CIAS. MINI Canada invites all visitors to come along for the ride and experience the passion and excitement that only MINI can deliver. For more information, visit MINI Canada.

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BMW Group in Canada

BMW Group Canada, based in Richmond Hill, Ontario, is a wholly owned subsidiary of BMW AG and is responsible for the distribution of BMW luxury performance automobiles, Sports Activity Vehicles, Motorcycles, and MINI. BMW Group Financial Services Canada is a division of BMW Group Canada and offers retail financing and leasing programs and protection products on new and pre-owned BMW and MINI automobiles, as well as retail financing for new and pre-owned BMW Motorcycles. A total network of 51 BMW automobile retail centres, 26 BMW motorcycle retailers, and 31 MINI retailers represents the BMW Group across the country.

For more information, please contact:

Marc Belcourt

Director, Corporate Communications

BMW Group Canada

Barb Pitblado

Manager, Corporate Communications

BMW Group Canada

barb.pitblado@bmwgroup.ca

Jean-Francois Taylor

Product and Technology Manager, Corporate Communications

BMW Group Canada

jean-francois.taylor@bmwgroup.ca

About the Canadian International AutoShow, presented by The Toronto Star

Celebrating the automobile since 1974, the Canadian International AutoShow features more than 650,000 square feet of exhibits, displays and attractions spanning the North and South Buildings of the Metro Toronto Convention Centre. With average annual attendance in excess of 350,000, the Canadian International AutoShow is not only the largest automotive expo in Canada, it is also the country’s largest consumer show. A leader in lifestyle, technology and all things automotive, it is a showcase for the latest cars, trucks, SUVs, concept cars, exotics, classics, muscle cars, electric vehicles, alternative fuel vehicles and autonomous vehicles. The show also offers a variety of indoor and outdoor ride and drive experiences with over 45,000 guests taking part in 2025. For more information, please visit autoshow.ca. For news and updates, check in regularly at autoshow.ca. Stay connected with the Canadian International AutoShow on LinkedIn, Instagram @autoshowca, X @autoshowcanada, and Facebook /autoshowcanada.

Media Day takes place Thursday, February 12th, highlighted by the Automobile Journalists Association of Canada’s (AJAC) presentation of the Canadian Car of the Year Awards. Many participating brands are expected to unveil new products for the first time in Canada. The interactive hands-on Media Day 2.0 is scheduled for the morning of Wednesday February 18th.

Media registration, media information, and visual assets to support your coverage are now available at www.autoshow.ca/media.

Media Contacts for the Canadian International AutoShow

Brian Murphy

Director of Public Relations

Canadian International AutoShow

(416) 428-2944

brianm@autoshow.ca

Mark James

Public Relations

Canadian International AutoShow

(416) 508-1670

markj@autoshow.ca

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

BMW Group Canada to showcase the all-new BMW iX3 and the future of driving at the 2026 Canadian International AutoShow.

Tue, 03 Feb 2026 14:00:00 +0100

Richmond Hill, ON. BMW Group Canada is proud to announce its presence at the Canadian International AutoShow (CIAS) from February 13-22, 2026, at the Metro Toronto Convention Centre. This year, the spotlight shines on the all-new BMW iX3 — a trailblazer of BMW’s revolutionary Neue Klasse platform, representing the future of sustainable and dynamic electric driving.

BMW’s presence will again dominate the coveted Level 600 space, marking a unique and exclusive takeover that positions BMW as a standout attraction amid the show’s busiest foot traffic areas. This immersive experience will not only showcase BMW’s commitment to electrification but also celebrate the brand’s legendary performance heritage.

“The all-new iX3 embodies BMW’s bold vision for the future, combining cutting-edge technology, sustainable design, and exhilarating driving dynamics,” said Andrew Scott, President and CEO of BMW Group Canada. “Our display at CIAS is designed to engage and inspire everyone—from electric vehicle enthusiasts to performance purists—highlighting the seamless integration of BMW’s past, present, and future.”

The all-new BMW iX3 — The Neue Klasse electric pioneer

Built on BMW’s revolutionary Neue Klasse platform, the new iX3 epitomizes the next generation of vehicles with enhanced efficiency, range, and intelligent connectivity. Featuring a highly efficient electric drivetrain, advanced battery technology, and a lightweight design, the iX3 offers an estimated range exceeding 650 kilometres, rapid charging capabilities, and BMW’s hallmark driving precision.

The iX3’s sleek, aerodynamic silhouette and premium interior showcase BMW’s dedication to sustainable luxury, incorporating recycled and eco-friendly materials without compromising on comfort or technology. Its innovative driver assistance systems and intuitive digital cockpit further elevate the driving experience, making the iX3 a benchmark for electric SUVs.

An unmatched BMW experience

Alongside the iX3, attendees will experience BMW’s latest electrified and performance models, including the exhilarating M2 CS, the award-winning i4 M60, the powerful i5 M60, and the luxurious iX M70. Level ///M will feature dynamic displays emphasizing BMW’s storied legacy and the brand’s push towards electrification.

“Like their vehicles, the BMW display at the show is unique, impressive and worth a visit,” said Jason Campbell, General Manager, Canadian International AutoShow.

On Level 500, visitors can participate in exclusive test drives of BMW and MINI vehicles, including the ever-popular i4 and a selection of SUVs, giving guests a hands-on opportunity to experience BMW’s cutting-edge technology and driving excitement. Level 500 will once again feature a lounge where guests can wait for their drive experience in comfort.

BMW Canada will also provide exclusive pre-access to Level M for select VIP guests, as selected by local BMW retailers. This will allow guests to enter the show before the doors open to the public.

Experience and Engagement

In addition to vehicle displays and test drives, BMW Canada will present engaging, on-site activations, including a café, lifestyle store, photo opportunities, and a chance to win an exclusive travel experience or a secondary prize. On both event weekends, a surprise automotive artist will be on-site painting live in front of show attendees. These initiatives aim to create memorable moments that deepen the connection between visitors and the BMW brand. The 2026 Canadian International AutoShow remains Canada’s premier automotive event, attracting over 300,000 visitors annually and offering an unmatched platform for BMW to showcase its innovation, design, and commitment to a sustainable future.

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BMW Group in Canada

For more information, please contact:

Marc Belcourt

Director, Corporate Communications

BMW Group Canada

marc.belcourt@bmwgroup.ca

Jean-Francois Taylor

Product and Technology Manager, Corporate Communications

BMW Group Canada

jean-francois.taylor@bmwgroup.ca

About the Canadian International AutoShow, presented by The Toronto Star

Media registration, media information, and visual assets to support your coverage are now available at www.autoshow.ca/media.

Media Contacts for the Canadian International AutoShow

Brian Murphy

Director of Public Relations

Canadian International AutoShow

(416) 428-2944

brianm@autoshow.ca

Mark James

Public Relations

Canadian International AutoShow

(416) 508-1670

markj@autoshow.ca

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

The BMW Group at IAA Mobility 2025: the new BMW iX3 celebrates its world premiere.

Tue, 05 Aug 2025 12:00:00 +0200

Munich. BMW, MINI and BMW Motorrad will present their new arrivals at two central locations during the IAA Mobility 2025 show, just like at the 2021 and 2023 editions of the event: The IAA Mobility Summit will take place at Munich’s exhibition centre (Messe München) – the BMW Group stand is in Hall A1 – and the BMW Group’s Open Space can be found at Max-Joseph-Platz square, under the gaze of the opera house. The generously proportioned Open Space, which covers an area of 3,000 m², is open to visitors free of charge on Tuesday, 9 September (the official opening day) from 11.00 a.m. to 9.00 p.m. CET, on Wednesday, 10 September – Saturday, 13 September from 11.00 a.m. to 11.00 p.m. CET and on Sunday, 14 September from 10.00 a.m. to 5.00 p.m. CET. BMW Welt and the BMW Museum will also be playing their part in the most important event of the year for the automotive and mobility sector with exhibitions and concepts of their own. The official opening of the IAA Mobility Summit will take place at the exhibition centre on Monday, 8 September at 8.00 a.m. CET. It is aimed primarily at trade visitors and is open every day until Friday, 12 September from 9.00 a.m. to 6.00 p.m. CET.

The premiere of the Neue Klasse.
The BMW Group is presenting one of the most significant new vehicles in its history at IAA Mobility 2025 in Munch, its home city. The BMW iX3, the first Neue Klasse model, will celebrate its public unveiling at the event. Revealed at the same time will be new technologies that will play a revolutionary and trailblazing role across the BMW Group in the future. The new BMW iX3 gives the public their first glimpse of the huge technological leap forward made by BMW in many areas: electric mobility, display and control/operation, digitalisation, connectivity, design, sustainability and technological openness. All upcoming BMW models will benefit from the innovations in the Neue Klasse – regardless of the drive system type used to power them.

Focusing on the new BMW iX3 and its innovations.
As BMW’s star of the IAA 2025, the new BMW iX3 will take centre stage event-wide. As well as the presentation of several examples of the global newcomer, the central stage in the shadow of Munich’s opera house at Max-Joseph-Platz will host daily “Masterclasses” featuring the new model. On each of the six days of the event, there will also be demonstrations of the new BMW Panoramic iDrive developed entirely in-house at BMW. These innovations from the BMW iX3 will likewise find their way into all future BMW models as part of a gradual process.

BMW Charging debuts bidirectional charging.
A dedicated area of the Open Space will focus on BMW Charging, with the help of current BMW electric vehicles like the new BMW iX and the BMW i5. The assembled experts here will provide the low-down on both public charging and the BMW Charging offering for home charging using various BMW Wallboxes. BMW Charging will present the bidirectional charging available in the BMW iX3 for the first time at the IAA Mobility show. This technology allows the iX3 to feed energy from its high-voltage battery into the customer’s home power supply (Vehicle-to-Home – V2H) or the public grid (Vehicle-to-Grid – V2G).

Models from BMW, MINI and BMW Motorrad at the Open Space.
Beyond the IAA Mobility show’s focus on the BMW iX3 as the first Neue Klasse vehicle, fans of the other BMW models and aficionados of the MINI, BMW M and BMW Motorrad brands are also well catered for, needless to say. Among the models on the bill at the Open Space are the battery-electric BMW i4, BMW i5, BMW i7 and BMW iX, the BMW X3 30e xDrive (WLTP, combined – in accordance with the EnVKV [German Passenger Car Energy Labelling Regulation]*: energy consumption weighted: 16.7 kWh/100 km and 3.3 l/100 km [85.6 mpg imp]; CO₂ emissions weighted: 76 g/km; CO₂ classes: with discharged battery G; weighted B; fuel consumption with discharged battery: 8.2 l/100 km [34.5 mpg imp]) and the BMW M5 Touring with plug-in hybrid drive system (WLTP, combined – in accordance with the EnVKV: energy consumption weighted: 27.6 kWh/100 km and 2.0 l/100 km [141.2 mpg imp]; CO₂ emissions weighted: 45 g/km (WLTP); CO₂ classes: with discharged battery G, weighted B; fuel consumption with discharged battery: 10.9 l/100 km [25.9 mpg imp]).

BMW Motorrad is presenting the BMW CE 02 and BMW CE 04 electric premium scooters – for electric mobility majoring in manoeuvrability – at the city-centre location. And with the BMW Vision CE, the brand also offers a fascinating look ahead to how developers and designers are envisaging the future of fully electric scooters for the big city.

MINI: show cars and “Britishness” launch a stage takeover.
MINI will spread its IAA Mobility 2025 presence across two locations in the heart of Munich. Its spectacular Open Space set at Max-Joseph-Platz and central brand appearance at the MINI Pavillon on Lenbachplatz will provide insights deep into the DNA of the brand. Plus, two eye-catching JCW show cars will celebrate their world premieres in Munich as part of a suitably gripping presentation. The Bavarian capital will turn into one huge stage for the iconic British brand during IAA Mobility 2025.

The JCW show cars will bring attention-grabbing presence to the MINI Pavillon and provide visual evidence of motor sport as a defining element of MINI DNA. The British icon and racing competition certainly go hand in hand, as confirmed most recently by the brand’s latest success in the Nürburgring 24-hour race. The show cars will be on display at Lenbachplatz for the duration of the IAA, locking into the spirit of a world-renowned fashion and lifestyle brand. The MINI Pavillon will be extensively refurbished for the occasion and dedicated entirely to the John Cooper Works sub-brand.

Entertainment for families at the Open Space.
In 2025, as in previous years, the Family Area at the Open Space invites visitors to get involved and enjoy a spot of relaxation at the same time. Children, teenagers and families can look forward to creative attractions such as LEGO build areas, a Disney+ Dance Challenge with Lilo & Stitch, craft activities and a water station. Other highlights – e.g. on the roof terrace – only add to the richly varied family programme.

Events at the exhibition centre, BMW Welt and BMW Museum.
Expanding on its star turn at the Open Space on Max-Joseph-Platz, the BMW iX3 also holds sway at the BMW Group’s 2,000 m² stand in the exhibition centre – which is located in Riem, in the eastern part of Munich. Alongside the spread of vehicles on display here at the Summit, innovations including BMW Panoramic iDrive, sixth-generation eDrive technology, and driving dynamics management provided by the “Heart of Joy” high-performance computer will be front and centre of presentations and talks by experts. The most important elements of BMW Panoramic iDrive are the display surface spanning the full width of the lower windscreen, the new multifunction steering wheel with shy-tech technology, and the Central Display. All play their part in an impressive large-scale animation. The experts at the Summit will also shed light on areas such as fuel cells, alternative fuels, plug-in hybrid drive systems and charging technology.

1961 Neue Klasse also makes an appearance at the show.
The BMW Group’s stand at the exhibition centre will be showcasing a celebrity car from years past, as BMW Classic winds back the clock to a BMW 1500 from the 1960s – the first model in the original Neue Klasse line-up. The 1500 was the headline act at the 1961 IAA in Frankfurt, a genuine breakthrough star that wrote the opening lines for an international success story. The Neue Klasse laid the foundations for the BMW Group to become the world’s most successful maker of premium automobiles. And now the BMW iX3 of 2025 takes us full circle – a car with all the tools to build on this growth and the first model in another new era.

Visitors to the exhibition centre will also encounter a selection of current models, including a BMW M5 Touring, a BMW X3 20d xDrive (WLTP, combined (EnVKV)*: fuel consumption 6.5 l/100 km [43.5 mpg imp]; CO₂ emissions 171 g/km; CO₂ class: F) and a BMW iX5 Hydrogen* (consumption as per WLTP: 1.19 kg H₂/100 km; consumption, combined as per NEDC: –; CO₂ emissions, combined as per WLTP: 0 g/km; range as per WLTP: 504 km [313 miles]; CO₂ class: A).

BMW Welt switches on a new type of charging hub.
As well as its appearances at the Open Space in the city centre and the exhibition centre, the BMW iX3 will also be on show at BMW Welt in the north of Munich from 6 September. Under the spotlight here along with the new fully electric BMW model are innovations such as BMW Panoramic iDrive and services like BMW Charging. During the IAA, customers stopping to top up their vehicles at the BMW Welt charging stations will be treated to a refreshing surprise and, if desired, a free personal tour of all things BMW iX3 and BMW Charging.

Shortly before IAA Mobility 2025 opens to visitors, a new vehicle charging hub will go into service outside BMW Welt. The BMW Welt High-Power Charging station will provide eight charging points for electric vehicles. Created by Designworks, BMW’s innovation studio, the hub fits in neatly with the unique architecture of the overall building. Expert talks and presentations will accompany the introduction of the new charging facility from 8 September and continue throughout IAA Mobility 2025.

DigiTour: interactive experiences at the BMW Museum.
The BMW Museum will greet visitors to IAA Mobility 2025 with a new digital attraction: the BMW Museum DigiTour. This web-based app, which can be accessed without downloading, provides a modern, fascinating and interactive offering for the visitors from around the world. This new digital visitor experience brings the history and allure of the BMW brand to life. A highlights tour of classic BMWs (from the early days to the present day) will be presented here in digital form, as will shortly the Museum’s temporary exhibition “Belle Macchine – Italian Automotive Design at BMW.” Additional tours are planned, including options for families and kids. The BMW Museum DigiTour is free of charge, opens a window into rarely shown archive material and is available in several different languages.

The BMW Group: sustainability and circular economy across all areas.
As an integral part of the BMW Group’s strategy at IAA Mobility 2025, the theme of sustainability stands tall in an array of world premieres and innovations. Alongside the electrification of its drive systems, the BMW Group has adopted a holistic approach to achieving its goals in this area. The focus here is on reducing CO₂ emissions throughout a vehicle’s life cycle, and the development of the Neue Klasse has seen BMW doubling down on its commitment to these objectives. From the development of a product, use of secondary materials, procurement of raw materials and production, to the product’s use phase and eventual recycling, the BMW Group adheres to consistently circular thinking. This engagement with circularity can also been seen across the BMW Group’s stands at IAA Mobility 2025. Around 80 per cent of the installations, fixtures and materials in the Open Space at Max-Joseph-Platz are either already being reused or have been procured explicitly for extended use at other events as well. Plants, robots, concrete barriers and much of the event technology have largely been hired. The presentation at the Summit involves an even greater commitment to reusing materials. Single usage is therefore restricted primarily to graphics and materials placed under heavy stresses, such as floor coverings and wall surfaces.

*Consumption and emissions figures:
The figures for fuel consumption, CO₂ emissions, electric power consumption and range refer to vehicles in the German market. All figures are calculated based on the new WLTP test cycle. Fuel consumption and emissions data refers to the German Passenger Car Energy Labelling Regulation (PKW-EnVKV).

In the event of enquiries please contact:

Corporate Communications

Cypselus von Frankenberg, Product Communication BMW Automobiles

Telephone: +49-89-382-30641

E-mail: Cypselus.von-Frankenberg@bmw.de

Alexandra Landers, Head of Product and Brand Communication BMW

Telephone: +49-89-382-30871

E-mail: Alexandra.landers@bmw.de

Internet: https://newsroom.bmwgroup.com/global/en

E-mail: presse@bmw.de

The BMW Group

With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is the world’s leading premium manufacturer of automobiles and motorcycles and also provides premium financial services. The BMW Group production network comprises over 30 production sites worldwide; the company has a global sales network in more than 140 countries.

In 2024, the BMW Group sold 2.45 million passenger vehicles and more than 210,000 motorcycles worldwide. The profit before tax in the financial year 2024 was € 11.0 billion on revenues amounting to € 142.4 billion. As of 31 December 2024, the BMW Group had a workforce of 159,104 employees.

The economic success of the BMW Group has always been based on long-term thinking and responsible action. Sustainability is a key element of the BMW Group’s corporate strategy and covers all products from the supply chain and production to the end of their useful life.

www.bmwgroup.com

LinkedIn: http://www.linkedin.com/company/bmw-group/

X: https://www.x.com/bmwgroup

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

Dr. Nicolas Peter elected Chairman of Supervisory Board of BMW AG

Fri, 16 May 2025 15:31:02 +0200

Munich. At a meeting of the Supervisory Board held following the Annual General Meeting of BMW AG, Dr. Nicolas Peter was elected its chairman. 86.21 percent of shareholders had voted earlier, at the BMW AG Annual General Meeting, to appoint Dr. Peter to the Supervisory Board for a four-year term.

Dr. Nicolas Peter served as the member of the Board of Management of BMW AG responsible for the Finance division from January 2017 to May 2023. He has extensive experience in the automotive industry, combined with many years in a wide range of management positions at the BMW Group.

Dr. Peter has not held any position within BMW AG since 11 May 2023 and has therefore completed the two-year cooling-off period required by the German Corporate Governance Code.

The Annual General Meeting has also elected Dr. Marc Bitzer, Ms. Rachel Empey, Ms. Anke Schäferkordt and Prof. Dr. Christoph Schmidt to the Supervisory Board for another four-year term.

BMW Group Corporate Communications

Sebastian Keßler, Communications BMW Group, Strategy

Telephone: +49 89 382-21616

Email: Sebastian.KE.Kessler@bmwgroup.com

Dr. Dominic Stoiber, Communications BMW Group, Strategy

Telephone: +49 89 382-51137

Email: dominic.stoiber@bmwgroup.com

Max-Morten Borgmann, head of Communications BMW Group, Finance, Sales

Telephone: +49 89 382-24118

Email: max-morten.borgmann@bmwgroup.com

Media website: https://newsroom.bmwgroup.com/global/en

Email: presse@bmwgroup.com

The BMW Group

In 2024, the BMW Group sold over 2.45 million passenger vehicles and more than 210,000 motorcycles worldwide. The profit before tax in the financial year 2024 was € 11.0 billion on revenues amounting to € 142.4 billion. As of 31 December 2024, the BMW Group had a workforce of 159,104 employees.

The economic success of the BMW Group has always been based on long-term thinking and responsible action. Sustainability is a key element of the BMW Group’s corporate strategy and covers all products from the supply chain and production to the end of their useful life.

www.bmwgroup.com

LinkedIn: http://www.linkedin.com/company/bmw-group/

https://www.concorsodeleganzavilladeste.com/packages-tickets/

X: https://www.x.com/bmwgroup

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

Statement Oliver Zipse, Chairman of the Board of Management of BMW AG, 105th Annual General Meeting of BMW AG on 14th May 2025, Livestream from the Olympic Hall in Munich

Wed, 14 May 2025 10:36:00 +0200

Robust. Dependable. With a clear focus on the future.

The BMW way – for the success of your company.

Dear Shareholders!

Our lives are increasingly digital – and, in global business, virtual formats offer many advantages. But, let's not forget – people are not digital. We all still value meeting face to face. We want to look each other in the eye.

That is why it is great to see so many of you here today, in the Olympiahalle. And to everyone joining us remotely: A very warm welcome to you as well!

This is your company’s 105th Annual General Meeting!

The heart of BMW beats all over the world. BMW is a global team, united by a strong sense of community. 159,000 people: highly motivated. High-performing. Innovative. Together, we are the BMW Group.

Of course, one could also say: BMW, that's just a DAX-listed company. A reliable employer; at its core, it remains an abstract construct.

But everyone at the company knows that BMW is so much more than that! That is why we stand together. Time and again, we have proven that we seize opportunities, act swiftly and adapt with remarkable flexibility. We learn from the unexpected – which is what truly matters. We then emerge stronger than before – just as we did after the global financial crisis and the Covid pandemic.

We make decisions with a long-term perspective.

This mindset goes back to entrepreneur Herbert Quandt, whose family continues his legacy – much like we do here at BMW.

You, our shareholders, remain by our side in this. You give us entrepreneurial freedom – and that is a privilege we value, especially in turbulent times.

Today, our environment is more dynamic than ever.

We face highly complex challenges, shaped by conflicting priorities and paradoxes. Above all, we are confronted with new geopolitical realities that directly affect our business.

At the same time, our industry is undergoing significant change. The shift towards e-mobility is just one facet of a broader, all-encompassing process – a technology race that culminates in elimination of some players.

When things are uncertain, many stay stuck in “neutral”, waiting. Not your company! We are now shifting into “sport mode” –hands on the wheel, eyes on the road. Standing here on stage is the BMW Vision Neue Klasse you are already familiar with. Later on, I’ll even show you the first two production models of the NEUE KLASSE. Our vision is becoming reality, as we reach the next milestones for BMW and the entire company.

By anticipating trends in the marketplace early, we consistently manage to make major technological leaps at exactly the right time. We invest proactively in electrification, digitalisation, our production network, our products and the NEUE KLASSE. By 2024, we will have reached the peak of our investment and R&D activities, with expenditure in each area exceeding nine billion euros. This is a peak, not a plateau.

We have invested a considerable amount of money.

In the years ahead, the full impact of these upfront investments will become clear – just as I promised. We are realising our plans for the future with your best interests in mind. You, our shareholders, should benefit from the continuing success of your company, alongside our employees.

That is why we remain firmly committed to our shareholder return strategy: We are proposing a dividend payout of 36.7 percent of our unappropriated profit – which would amount to a total of 2.6 billion euros. If you approve our proposed dividend, this will be our highest-ever payout ratio.

Your company is in a strong position, focused on the future:

We are digitalising our vehicles and leveraging tech clusters and architectures with massive scaling potential. We are utilising artificial intelligence throughout our value chain. Very soon, nearly every process at the company will be supported by AI, making us even faster and more precise – and not just in production and logistics. At your company, efficient cost structures are the standard – you can always count on that.

The automotive industry has been through many upheavals –in response to the rise of industrialisation, technological progress, new processes and evolving markets, as well as changing regulations and societal expectations.

The BMW way is shaped by confidence – because we provide meaningful answers. I would like to show you today how we do that through:

1. Our strategy: which is market-driven and technology-open.

2. Our goals: We met our adjusted targets for 2024 and are targeting growth this year.

3. Our global footprint: a differentiating factor and competitive advantage in a fragmented world.

4. Our future-focused project for tech leadership: BMW is the NEUE KLASSE – and the NEUE KLASSE is BMW.

Let me begin with my first point: our strategy.

Technology openness means following the markets – because markets evolve, but not all at the same pace. We took a clear stand on this, even in the face of strong headwinds. Now, the wind has shifted in our direction:

• “BMW late winner of the drivetrain transition”.

• “How BMW went from laggard to magician”.

• “Germany’s true electric-car champion”.

These headlines were taken from trade journal “Auto, Motor und Sport”; weekly magazine “Wirtschaftswoche”; and newspaper “Die Welt”.

Our models and diverse drivetrain portfolio are also winning awards, including the “Goldene Lenkrad” (Golden Steering Wheel). I accepted three trophies in Berlin – a very special moment.

Our brands and products are being extremely well received. The German Car of the Year award, presented to the 5 Series and i5*, is the first-ever win for a technology-open model series.

While other manufacturers are reversing course or adjusting their strategy, we are on exactly the right track. Even policymakers are starting to come around: The new German federal government supports a broad approach to technology, while the European Commission seeks to make Europe more competitive. The “Green Industrial Deal” finally considers climate protection and the economy “in tandem”. That is a good thing.

From e-drives and plug-in hybrids to highly efficient conventional drive technologies: No one masters this level of variety better than your company. As previously announced, we will be adding a production model with a hydrogen drivetrain in 2028. All of this benefits our customers, while, at the same time, making a measurable contribution to climate protection. And, yes, we have the facts and figures to back this up:

In 2024, the BMW Group significantly outperformed its European CO2 fleet target by more than 30 grammes. That is a huge leap forward, which cannot just be taken for granted. Based on internal calculations, our numbers came in at under 100 grams for the first time – at 99.5 grammes per kilometre. The official data will be published by the European Commission at year-end. We are also gearing up to meet the much stricter targets for this year, as you would expect from us.

We take ambitious political goals seriously – but we don’t believe in technically one-sided regulations that limit supply. The same principle applies to the circular economy. Here, too, only a comprehensive approach can enable and stimulate investment. Because, as a standalone technology, e-mobility leads down a dead-end street – that much is now clear. The differences are simply too great, even just within Europe.

Belgium, for example, offers incentives: Electric and hybrid models quickly became the most popular new cars, reaching a market share of over 60 percent in 2024. Contrast that with Italy, where electric cars made up only about four percent of total sales last year.

Is that the fault of the products? Certainly not. Is it because of the customers? Definitely not. The all-important question is rather:

How do we effectively cut CO2? Certainly not by thinking in black and white. Supporting one solution does not necessarily mean opposing another. Our approach proves this time and again – and remains effective. We all need to be much more opportunity-driven, guided by entry – not exit – strategies.

Political goals must reflect market realities – and also be viable for businesses. Global investment is already looking ahead to 2030, and especially 2035. That is why the upcoming review of EU targets will be so decisive. It is our chance to improve the system. Europe needs a top-performing automotive and supplier industry. We are fighting for this and pushing back against negative developments.

For our customers, we will remain broadly diversified – and, for you, our shareholders, we are securing the success of your company. We don’t want to miss out on any market potential. We will continue to stand firm – but always open to dialogue with decision-makers around the world. We explain the complex mechanisms of our industry, asking: What will the proposed legislation mean in practice? The Board of Management and I are personally engaged in this work.

At your company, we mostly let our actions speak for themselves: Just as I promised you last year – we already have more than 15 all-electric models on the market. Our BMW iX* has been recently updated, so that it now boasts an electric range of up to 701 kilometres in the WLTP cycle. In 2024, battery-electric vehicles – BEVs, for short – were once again key growth drivers for us. By year-end, more than 17 percent of our total sales were fully electric. This is significantly higher than at many other manufacturers. You’ll also be pleased to hear that this positive trend accelerated into 2025. In the first quarter, our global BEV sales increased over 30 percent. Europe led the way, with growth of more than 60 percent.

The US market was also up by over 20 percent.

If you include both BEVs and plug-in hybrids, more than one in four of our vehicles is now electrified, while nearly one in five is already fully-electric. We are making good progress. We are delivering – and maintaining our credibility.

My second topic for today is our goals.

As always, they are ambitious. Even in difficult conditions, not every market contracts. There are always regions where growth is possible – and your company exploited this potential to the full in 2024: In three of our four main sales regions, we increased deliveries and often gained market share.

Joy is at the heart of our BMW brand, sparking positive emotions all around.ach of our company’s four brands – BMW, MINI, Rolls-Royce and BMW Motorrad – has its own unique character and strengths. BMW remains number one in the premium segment. BMW M also reported dynamic growth, achieving record sales for the 13th consecutive year. Nearly one in ten BMWs sold last year was a profitable M model. The new MINI family is now complete: With five models, three of which are fully electric. The MINI brand not only has a positive impact on our carbon footprint, it also has a strong fan base. In the luxury segment, Rolls-Royce continues to set the benchmark. With the Black Badge Spectre*, a second fully electric Rolls-Royce is now available. The Phantom is the brand's most iconic vehicle. And it is celebrating its 100th birthday this year. All good reasons to expand the Goodwood factory. At over 300 million pounds, this will be our biggest investment in the plant since it opened in 2003. BMW Motorrad impressed once again. Our two-wheeler brand remains the undisputed global number one in the premium motorcycle segment – again reaching a new all-time high, with 210,000 motorcycles and scooters sold. The GS accounts for nearly a third of those sales. It will be joined later this year by the new 1300 Series model family. I like to ride a motorbike myself, so I can assure you that our line-up is our strongest ever.

We accomplished all this in 2024 – despite the fact that many things unfolded differently than expected, as the year progressed. The delivery stops and recalls associated with an Integrated Brake System IBS component from one of our suppliers had a financial impact – but we responded quickly, keeping our communications transparent.

At the same time, the Chinese market remained weak and demand for electric vehicles declined in several markets. In light of this, in September 2024, we adjusted our guidance. From that point on, we pushed even harder to keep your company on track. That is another thing that sets us apart. We met our updated targets, with more than 2.45 million vehicles delivered to customers and a Group EBT margin of 7.7 percent.

You already know that we sold fewer vehicles in China, where competition is intense and prices are increasingly under pressure. It should come as no surprise that domestic manufacturers are expanding their market share. However, BMW remains number one in its segment. China is still our largest single market for electric vehicles, with over 100,000 BEVs delivered to customers there in 2024. Let us not forget that we have enjoyed above-average success in the Chinese market for many years.

What is also important: Your company has earned an excellent reputation in China, built on years of market presence and sustained investment. Since 2010, we have invested around 116 billion renminbi in our production base in Shenyang alone. We also have a strong R&D network in China, second only to Germany. I’ve visited China several times over the past few months, including attending the “China Development Forum”, where BMW was the exclusive mobility partner, providing 30 fully-electric BMW i7s* and i5s* for the event. All of us on the Board of Management are regularly on the ground to talk directly with our “BMW Team China”. Our China strategy is based on the principle “in China for China”. The same applies to the NEUE KLASSE. The first models produced for the NEUE KLASSE in China will come off the Shenyang assembly line from 2026. Our design team in Shanghai led development of all China-specific models of the NEUE KLASSE. As a result, our local BMW iX3* will be tailored to the needs of Chinese customers – in other words, “from China for China”.

Our market-specific approach has proved effective over many years. The technology race in our industry will be decided in China – where else? – where AI is widely adopted. That is why we are establishing AI partnerships with leading Chinese tech companies, to integrate these innovations directly into our vehicles in China. For example, we are collaborating with Alibaba to develop the next stage in voice interaction between humans and vehicles. DeepSeek will also be a part of this.

We will begin integrating DeepSeek’s AI capabilities into our newest models in China by the end of this year. These examples show that, even when it comes to digital applications, we operate “in China, for China” – and at “China speed”. As our largest single market, getting back on track for growth in China is clearly a priority. That is why we are currently consolidating our retail network.

What matters most to you, as shareholders, is:

What are our plans for 2025?

In a word: growth. Our sales are forecast to increase slightly. What makes us so confident? Our products. Between now and 2027, BMW will bring more than 40 new or updated vehicles to market across all drive train variants. This year, one of our most successful models will celebrate its 50th anniversary: the BMW 3 Series. The latest version of our extremely popular BMW X3 is fresh on the market. We manufacture the X3 worldwide – in Spartanburg, South Carolina, in the USA; Shenyang, China; and Rosslyn, South Africa. This is a clear example of how we are responding flexibly in an increasingly protectionist environment.

We are also realigning our sales and marketing to meet the demands of the future. In some markets, an agency model enables customers to move seamlessly between online and offline channels. MINI has already transitioned 15 markets in Europe. The process for our core BMW brand will be significantly more comprehensive, learning from our experience with MINI. We are using this year and next to prepare for the launch of the BMW brand. I’m sure many of you are wondering: What about our retailers? They remain close by our side, of course. The entire transition is taking place in collaboration with them. Anything else would not be the BMW way. Retailers and our BMW branches remain important to our sales success – and, above all, to our customers’ brand experience.

In uncertain times, making reliable forecasts is not easy. In our guidance for financial year 2025, we responded quickly to current developments, already factoring in the known tariff impacts, as of 12 March 2025. These effects account for approximately one percentage point on the EBIT margin in the Automotive Segment, which we now expect to be within the range of five to seven percent.

Global conditions remain dynamic and uncertain. That’s why many OEMs – not only in our industry – are not issuing forecasts at this time. Not us. After the first quarter, we confirmed our guidance.

Our assumptions are based on fundamental premises. We expect developments in the tariff debate by the summer. We are confident that a good compromise can be reached in the negotiations with the US this year. We are closely monitoring developments and actively preparing for a range of scenarios. In the long term, we remain committed to achieving an Automotive EBIT margin with our target range of eight to ten percent.

A key lever for this is lowering operating costs, which we expect to decline in nominal terms over the course of the year.

For my third point, I’d like to talk about our global footprint.

The global economy is deeply interconnected, with tightly interwoven supply chains. Can this be undone? We don’t believe so. What we do know is that protectionism leads down a dead-end street. Take modern semiconductors, for instance – which use 60 elements from the periodic table. No single country has all of these. In the end, everyone loses:

Products become more expensive and less innovative. And who ends up “footing the bill”? The customer, of course.

Punitive tariffs, rising regional isolation, technological decoupling:

How can we continue to succeed and stay out of geopolitics in such an environment? These are also your top issues as shareholders, which you have shared with us. Today, global reach and appeal are no longer enough. Only companies that are firmly established locally in the regions will remain “in the game”. This is becoming a condition for economic success.

Your company has built this presence in major regions of the world over decades – with production, R&D, sales and marketing and suppliers. We generate added value locally. As a result, we are one of the few truly global players in our industry today – and that gives us a real competitive advantage. Your company has already evolved to the next level, balancing sales and production within our network of global value creation. In other words: In Europe, the US and China, we sold roughly the same number of vehicles, in absolute terms, in 2024, as we produced in each of these regions: about a million cars in Europe, just under 400,000 in the US and around 700,000 in China. No one will be able to replicate this anytime soon.

Another important asset is our “local-for-local” approach, which we are systematically expanding as local supply chains and collaborations become more important. Take our assembly plants for high-voltage batteries: Five new facilities are currently under construction – all of them close to our production in Europe, the Americas and China. Here, we will manufacture the next generation of high-voltage batteries for our electric vehicles.

One of these new facilities is being built right around the corner from here, in Irlbach-Straßkirchen. Trade journal “Auto Motor and Sport” reported on this under the headline: "BMW builds faster than BYD”. You can’t put it more succinctly! In other words, “China speed” – also in Lower Bavaria.

Despite our balanced distribution of sales and production, we will continue to be a major exporter – especially from our domestic market of Germany and our “second home”, the US.

Our roots lie in Munich and Bavaria – and origins come with a responsibility. In 2024, we produced over one million vehicles at our German plants. That’s about a quarter of the country’s total car production. More than half of these vehicles were sold outside the European Union. We are making an important contribution – in Germany and for Germany as a manufacturing location. As I said: Origins come with a responsibility.

We are carrying this principle forward with the next generation. Right now, on the plant grounds in Munich, we are building a Talent Campus. That name is a promise: a new hub for skills development, serving all 40,000 employees at the Munich location. Talents with various perspectives make us stronger and more innovative. That is, and always will be, our culture at BMW.

This year, we are celebrating “50 years of BMW North America”. I was in Spartanburg in January to receive an award from Republican Governor Henry McMaster, honouring BMW's 30-year commitment to South Carolina. Its political representatives recognise and appreciate that, without BMW, the region and the state would have taken a very different path.

The numbers speak for themselves: We provide 43,000 jobs in South Carolina – both directly and indirectly. Every second vehicle built at our Spartanburg plant is exported, generating an export value of over ten billion US dollars in 2024 alone. Once again, this made your company the largest automotive exporter in the United States by value. Over the past ten years, our total export value has exceeded 100 billion US dollars. Now, we are investing over 1.7 billion US dollars to bring Spartanburg up to speed for e-mobility. The first e-model from Spartanburg will already roll off the assembly line next year.

All these figures underline BMW’s economic impact in the United States. We are the only ones with such a extensive production in the US. Our value creation is comprehensive. These are strong arguments that will play a key role in the ongoing tariff negotiations.

Looking at the global picture: With tariffs, it’s currently everyone against everyone else. We advocate for eliminating tariffs altogether: for our industry, based on fair negotiations. That is why we had submitted a widely respected proposal some time ago, calling for a uniform tariff rate of 2.5 percent between Europe and the US. All of this clearly underlines that your company is in a very strong negotiating position – not only in the US, but across all regions. This sets BMW apart from other OEMs. We are in continuous dialogue with decision-makers everywhere: in Brussels, Berlin, Washington, D.C. and Beijing.

In the European Union, we are taking a firm stance. This includes the EU’s additional tariffs on BEV imports from China. Since October 2024, this has also impacted our electric BMW and MINI models produced in China. We are defending our position and have filed a lawsuit against the European Union, seeking a judicial review of this anti-subsidy measure.

Your company benefits from an integrated global economy. That much is certain. Our position remains unchanged: We stand for open markets and free trade. Growth thrives on openness – not isolation! Period.

My fourth point is about our future-focused project for tech leadership:

BMW is the NEUE KLASSE – and the NEUE KLASSE is BMW.

The 1960s were a long time ago. That was when the original Neue Klasse first entered the market, generating strong momentum for BMW's long-term growth. Today, once again, we are setting the course for your company’s success in the decade ahead, guided by the principle:

BMW is the NEUE KLASSE – and the NEUE KLASSE is BMW.

We do not draw a line between “old” and “new” technology worlds. Every future BMW model will benefit from our technology clusters. The new design language will also be implemented across the entire product range.

The NEUE KLASSE is a huge technology kit that enables everything else.

We are targeting economic advantages through high levels of commonality and economies of scale. Our customers get the latest technology in their vehicles – regardless of which drive train they choose. Now, bear with me, it's about to get a little bit technical: In the NEUE KLASSE, Sheer Driving Pleasure is also about software, such as our BMW Panoramic iDrive. This includes a completely new display system that projects content across the full width of the windscreen. Four high-performance computers control the most important in-car functionalities. These “super brains” deliver up to 20 times more in-vehicle computing power. We have also simplified the new electrical system, with 600 metres less wiring, reduced weight and higher energy efficiency. That’s how we do it in the NEUE KLASSE.

One of the four high-performance computers is our “Heart of Joy”. All drivetrain and driving dynamics functions are integrated into this electronic control unit. International journalists tested it on the track with our factory driver, Jens Klingmann – in our BMW Vision Driving Experience or VDX for short. This is how is went:

Movie

You can't fake that kind of emotion. That is Sheer Driving Pleasure in its purest form – taken to a whole new dimension in our BMW Vision Driving Experience. The VDX is the most powerful prototype we have ever built. Its key data are quite remarkable: 18,000 Newton meter of torque, a downforce of up to 1.2 tonnes and lateral forces of up to 3 G. That is, three times the acceleration due to gravity. These are the kinds of figures typically only seen in top-tier racing cars. We are testing the physical limits of driving. Why are we doing this? The answer is simple: A system that is capable of managing forces like these can – without question – handle everyday driving with ease.

At the Auto Shanghai in April, we took things a step further, building our own test track to showcase the VDX, complete with a massive ramp.

Movie

It was spectacular! Our VDX was a hit – and the social media reach was tremendous. Many of the technologies featured in the VDX will also be used in the NEUE KLASSE.

We are entering the home straight – and we intend to prove that to you, right here, today. For those of you here in the Olympiahalle, please remain in your seats when the vehicles make their entrance in a moment.

Driving scene

Ladies and Gentlemen, the first two production models of the NEUE KLASSE!

As you can see, they are still camouflaged – to maintain the suspense just a little bit longer. You are all “practised” BMW shareholders, so I’m sure you’ll recognise the proportions right away: This model is a sporty sedan in the current BMW 3 Series segment. The other is a typical member of the X family, our BMW iX3* – which will be the first representative of the NEUE KLASSE. You could even say it is getting its own plant, since we are producing the iX3 at our new plant in Hungary. We will be opening the Debrecen location this autumn. The sporty sedan for the NEUE KLASSE won't just simply roll off the production line either. Just a short distance from the Olympiahalle is our more than 100-year-old Munich main plant. We are completely refurbishing it for modern industrial production in the heart of the city.

The second model will ramp up there in 2026. After that, the NEUE KLASSE will be rolled out worldwide across our production network. I would like to invite you all to the IAA MOBILITY here in Munich in September for the world premiere of the BMW iX3 – without camouflage, of course, exactly as it will be available to our customers.

Dear Shareholders!

At BMW, the proverbial glass is never half-empty – it is always at least half-full. We focus on opportunities and pursue them systematically – even in an uncertain environment. BMW will turn 110 next year.

The NEUE KLASSE is just one example of how we continue to take bold, forward-looking action. The BMW way is shaped by confidence.

That’s what our “Team BMW Group” stands for at all our locations worldwide. We never rest on our laurels. Together, we will ensure that your investment remains worthwhile.

All of us at the company truly appreciate your continued support.

Thank you!

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

Concorso d'Eleganza Villa d'Este 2025

Thu, 03 Apr 2025 22:01:09 +0200

Munich/Cernobbio. On 23 – 25 May 2025, BMW Group Classic will host the legendary Concorso d’Eleganza Villa d’Este in cooperation with the Villa d’Este luxury hotel. The partnership has been running for 20 years in its current form.

Around 50 of the most spectacular cars of their eras will do battle in the following competition classes for the coveted prizes. Most prestigious of all is the “Trofeo BMW Group”, awarded by the high-calibre Jury to the overall winner of the Concorso d’Eleganza.

Class A
Glorious Excess: The Evolution of the ‘Money no Object’ Motor Car, 1920-1940

Class B
Sculpture in Motion: The Decade of the automotive Arms Race, 1928-1938

Class C
Renaissance: The Post-War European Sports Car comes of Age

Class D
Titans of the Track: When the Boss says “Let´s race!”

Class E
Frozen in Time: Preservation ‘Time Capsules’ from 1900-1973 which have survived in unrestored State

Class F
“Go Big or Go Home”: Automotive Excess of the ‘80s to the new Millenium, when nothing seemed too fast, expensive or bold

Class G
Vanishing act: Gone but proudly not forgotten

Class H
Style matters: Opulence meets Elegance before Times change forever

Prizes will also be awarded once again to spectacular concept cars from a variety of manufacturers competing in a separate class with a rich tradition.

The Concorso d’Eleganza parade on the terrace of Villa d’Este will take place in customary style on the Saturday of the event. Beyond the “Trofeo BMW Group - Best of Show” top prize, the participants and competing vehicles at the Concorso will each battle it out for victory in their individual categories, for the “Coppa d’Oro” prize awarded by Public Referendum and for an array of other distinctions such as the “Trofeo del Presidente”, which will be presented by Helmut Käs, Head of BMW Group Classic and President of the Concorso d’Eleganza Villa d’Este. Star opera singer and BMW Group Classic brand ambassador Jonas Kaufmann will again present the “Trofeo Il Canto del Motore” for the best engine sound, as chosen by the Jury.

The Concorso d’Eleganza Villa d’Este will provide the stage for spectacular BMW Group world premieres once more this year. The BMW brand will celebrate the premiere of an elegantly sporting one-off designed to provide motoring pleasure for two; BMW Motorrad will present a case study in unbridled adrenalin on two wheels; and BMW M GmbH will bring several high-performance models to Lake Como, including a world premiere.

The 2025 calendar contains a multitude of anniversaries that will be honoured in suitable style at the Concorso d’Eleganza Villa d’Este. This will be the first time that all of the still-surviving original body variants of the BMW 328 that lined up for the 1940 Mille Miglia have come together to be displayed – so it is a truly unique occurrence. The cars include the victorious BMW 328 Touring Coupé and the legendary BMW 328 “Mille Miglia” Series 1 roadster (nicknamed the “Trouser Crease Roadster”). BMW finished the race in 1st, 3rd, 5th and 6th places, and also won the prize for regularity and the team award in all classes.

BMW Group Classic will bring a number of cars from its collection to Cernobbio to help mark a handful of other anniversaries. One of the headline acts in the crowd-pulling grounds of Villa Erba will be an array of different BMW 3 Series models of all generations reflecting 50 years of the 3 Series. Meanwhile, a pair of BMW icons from the 1950s – the BMW 507 and 503 – notch up their 70th birthdays this year and will be integrated across the event programme in fitting style. Not to be forgotten and likewise on the Lake Como bill will be the BMW Isetta, itself turning 70 in 2025. The 50th anniversary of the legendary BMW Art Cars will be embodied by Sandro Chia’s Art Car no. 13 (a BMW M3 GTR). Rolls-Royce Motor Cars is also celebrating a special milestone, the centenary of the launch of the very first Phantom – the pinnacle model in the marque’s portfolio.

On Sunday, 25 May, the “Concorso d’Eleganza Villa d’Este Public Day – Il Festival” will once again give the wider public the opportunity to experience the parade of all the cars in the Concorso d’Eleganza Villa d’Este. This fascinating day in the divine gardens of the nearby Villa Erba will lay on an automotive feast for all ages.

The “Amici & Automobili – Wheels & Weisswürscht” event format familiar to many from its Munich roots and now also an established fixture on the shores of Lake Como will also be part of the festival weekend in 2025. On Saturday, 24 May, automotive enthusiasts, and car clubs & communities from around the world will show off their automotive gems in the grounds of Villa Erba. 150 vehicles are expected – rich in variety, spread across brands and including Italian classics from the Veteran Car Club Como.

The “Trofeo BMW Group – Best of Show” winner will be the recipient of a special timepiece from A. Lange & Söhne: the unique 1815 CHRONOGRAPH in 18-carat white gold with solid pink gold dial and hand-engraved Concorso d’Eleganza Villa d‘Este crest on the hinged cuvette. Through its partnership with the Concorso d'Eleganza Villa d’Este, which began in 2012, the German watchmaker focuses on the historic links between motor sport and timekeeping. The cooperation is also characterised by a shared commitment to tradition, handcraftsmanship and mechanical innovation.

Broad Arrow Auctions – a Hagerty (NYSE: HGTY) company – is the official auction house partner of the Concorso d'Eleganza Villa d'Este. In this its first year in the role, it will auction a selection of extraordinary collectors’ vehicles. The auction will take place over two days in the grounds of Villa Erba. An independent auction focusing on BMW cars will be held on the evening of Saturday, 24 May. Among the examples in the sale will be a BMW 507 Series II from 1958, a 1981 BMW M1 and a BMW Z8 from model year 2000. The main auction – open to all brands – is scheduled for Sunday, 25 May. Consignors wanting to offer exceptional vehicles for auction at the Concorso d'Eleganza Villa d'Este are asked to contact a Broad Arrow Auctions specialist on +44 20 4592 0169 (UK/Europe) or +1 313 312 0780 (North America), or via e-mail at info@broadarrowauctions.com. A wide selection of collector cars on offer are already available for viewing at broadarrowauctions.com.

BMW Group Classic thanks its partners A. Lange & Söhne, Broad Arrow Auctions, VRANKEN-POMMERY MONOPOLE and Schedoni Luxury Goods SRL for their support.

Helmut Käs, Head of BMW Group Classic and President of the Concorso d’Eleganza Villa d’Este:

“This year’s edition of the Concorso d’Eleganza Villa d’Este is set to be another wonderful event featuring myriad highlights. The vehicles entered in the concours and their owners represent the focal points and centrepiece of the event. Awaiting us is an exciting competition for the coveted prizes, first and foremost the “Trofeo BMW Group – Best of Show”. But that’s not all: we have three world premieres from BMW to look forward to and will be celebrating several fantastic anniversaries. The special exhibition of all the surviving cars that raced to glorious overall victory for BMW in the 1940 Mille-Miglia is particularly close to my heart. Guests can experience this and much more – not only at Villa d’Este but also once again on the public days in the gardens of Villa Erba.”

Davide Bertilaccio, CEO Villa d'Este Hotels:

“The Concorso d'Eleganza has been part of the history and tradition of Villa d'Este for almost a century now, and we feel honoured to be able to welcome vehicle owners from around the world – together with cars of rare beauty and value – year in, year out. It all represents the perfect match for the elegance and scenic allure of this timeless setting on the shores of Lake Como. We are proud of our ongoing collaboration with BMW Group Classic and will be pulling out all the stops to offer our guests and classic vehicle enthusiasts an unforgettable weekend.”

Tickets for the Concorso d’Eleganza Villa d’Este, “Amici & Automobili – Wheels & Weisswürscht” and “Public Day – Il Festival” can be purchased here:

Keep up to speed via the following channels:

Concorso d’Eleganza Villa d‘Este App for iOS and Android

Concorso d’Eleganza Villa d’Este website: https://www.concorsodeleganzavilladeste.com/

Instagram: https://www.instagram.com/concorsodeleganza_vde/

BMW Group Classic Media Server for downloads:

https://www.bmwgroupclassic-downloads.com/Events/

Please do also download the official app in your trusted app store.

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

Statement Walter Mertl, Member of the Board of Management of BMW AG, Finance, Annual Conference 2025

Fri, 14 Mar 2025 15:38:06 +0100

- Check against delivery –

Statement

Walter Mertl

Member of the Board of Management of BMW AG, Finance

Annual Conference 2025

BMW Welt in Munich, 14 March 2025, 08:00 a.m. CET

Ladies and Gentlemen,

Good morning!

SLIDE: BMW Group in Full-Year 2024

As Oliver emphasized, we continue to follow our course and implement our long-term strategy. At the same time, we are focused on our operational business to consistently deliver on what we say.

The BMW Group proved this once again in Q4 2024:

We successfully reduced inventory impacted by the Integrated Braking System or IBS. And we achieved a sequential improvement in retail sales and profit versus Q3.

For the full year, we achieved our revised guidance in all parameters.

As anticipated, we reached peak levels of R&D and capital expenditure in 2024, particularly to prepare for models of the NEUE KLASSE. Starting this year, both the R&D and capex ratios will decrease meaningfully, as we start production of the NEUE KLASSE and lay the foundation for the long-term success of our company with over 40 new and updated models by 2027.

Through our global positioning and the flexibility of our operations, we can adapt to the geopolitical landscape and short-term market dynamics, proving our resilience.

Let’s take a look at the financial figures for the full year.

2024 was a year of two halves:

While the first half-year was in line with our original planning, sales performance in the second half of the year was impacted by delivery stops in connection with IBS, as well as persistent subdued demand in China. As expected, Q4 marked an improvement on the Q3 result.

SLIDE: BMW Group KPIs in FY24

Group revenues totaled 142.4 billion euros. The moderate decrease compared to 2023 was mainly driven by the decline in sales volume and intense price competition in the Chinese market.

Earnings before Tax at Group level amounted to 11 billion euros – significantly under 2023, but as expected in our adjusted guidance. This resulted in a Group EBT Margin of 7.7% for the year.

SLIDE: BMW Group Segment Performance in FY24

If we look at the key financial results of the individual segments:

Automotive delivered an EBIT of 7.89 billion euros and EBIT margin of 6.3%.

Motorrad had an EBIT of 198 million euros, representing a margin of 6.1%.

Financial Services saw an EBT of 2.54 billion euros and a Return on Equity of 15.1%.

And, finally, Other Entities generated 837 million euros in EBT, while eliminations amounted to a negative 146 million euros.

SLIDE: Automotive Retail Units, BEV Units, Auto Revenue and Auto EBIT in FY24

So, let’s take a look at the Automotive Segment in detail:

For the full year, the BMW Group delivered 2.45 million BMW, MINI and Rolls-Royce vehicles to customers worldwide. This represents a slight decrease of 4% from the previous year, in line with our adjusted guidance.

Market dynamics in China remain weak, which impacted sales performance. However, the BMW brand achieved growth in every other major region.

In Europe, order intake in Q4 improved month by month. In the US, we experienced a strong recovery from IBS in Q4 with growth quarter-over-quarter of just over 50% and year-over-year of 8.9%.

Worldwide BMW Group sales performance in Q4 saw sequential improvement over Q3. Global deliveries grew by nearly a third quarter-on-quarter including double digit growth coming from the mid- and upper-segment together.

All-electric vehicles remained a key growth driver for us. BEV deliveries totaled over 426,000 units for the year, significantly above 2023 by 13.5%. Overall, BEVs therefore made up 17.4% of total sales.

Our plug-in hybrid vehicles also remained very popular, with over 166,000 units sold in 2024. Electrified vehicles – meaning all-electric vehicles and plug-in hybrids – made up nearly a quarter of total sales.

Revenues in the Automotive segment amounted to nearly 125 billion euros, a decrease of 5.6% from 2023.

Earnings before interest and taxes reached 7.9 billion euros. This resulted in an EBIT margin of 6.3%, which was within our adjusted guidance corridor of 6 to 7 percent for the full year.

Excluding the 1.3 billion euros depreciation resulting from the purchase price allocation of BBA, the Automotive EBIT margin came in at 7.4% for the year.

SLIDE: Automotive EBIT Development in FY24

Looking to the operating result in detail:

Compared to 2023, EBIT for full-year 2024 saw a tailwind of 1 billion euros from the net balance of currency and raw material positions.

Year on year, the net effect of volume, model mix and pricing weighed on Automotive EBIT. The headwind resulted partly from the volume decrease, particularly in China. Pricing headwinds, including the effects of a highly competitive Chinese market and dealer compensation in China, amounted to more than half of the overall decrease of 4.4 billion euros.

The headwind of 1.4 billion euros from Other cost changes was driven by inflation in material costs and supply chain support.

The effect from warranty expenses was a tailwind year-on-year. Overall, lower additions to warranty provisions for specific topics were necessary in every quarter throughout 2024 compared to the previous year. An exception was Q3, due to the impact of IBS. For the full year 2024, the P&L impact of quality issues trended in a positive direction year-on-year, as planned.

SLIDE: R&D Expenditure in FY24

SLIDE: Capital Expenditure in FY24

Our R&D activities and investments focused on our ongoing electrification and digitalization strategy across the entire portfolio. As anticipated, R&D and capital expenditure reached peak levels in 2024 – both in absolute terms and in ratio.

Group expenditure for research and development for the full year reached 9.1 billion euros, compared to 7.8 billion euros in 2023. The R&D ratio according to the German Commercial Code was 6.4%, 1.4 percentage points more than in 2023.

Group capital expenditure totaled 9.1 billion euros, an increase from 8.8 billion euros in 2023. This resulted in a capex ratio of 6.4%, compared to 5.7% in 2023.

As we begin to rollout models of the NEUE KLASSE, we will see a decline in R&D and capex. This means in both absolute and relative terms, back towards our strategic corridors of between 4 to 5% for R&D and less than 5% for Capex by 2027 at the latest.

SLIDE: Automotive Segment Free Cash Flow in FY24

Turning to free cash flow – as you know, we steer this on an annual basis.

Starting with EBT delivering a full year result of 7.5 billion euros, working capital contributed positively with 200 million euros to free cash flow. Whilst inventory levels had risen due to sales stops related to IBS in Q3, we managed to successfully reduce stock by 5 billion euros in Q4. As a result, year-end inventory reached nearly the same level as it was at the beginning of the year.

For the full year, the net effect from capital expenditure and depreciation reduced free cash flow by 3.3 billion euros.

The development of provisions reduced free cash flow by 700 million euros.

The position “Other” reflects several positive effects, including interest received.

In line with our adjusted guidance, free cash flow reached 4.9 billion euros in 2024.

This is even after we invested 18.2 billion euros: 9.1 billion euros in CapEx and another 9.1 billion euros in R&D, paving the way for our future, and demonstrating our financial strength.

This strength is underscored by our Automotive net financial assets, which benefitted from the strong development of free cash flow in the fourth quarter. At year end, the Automotive NFA came in at almost 46 billion euros, which is around the same level as the start of the year.

SLIDE: Financial Services Segment in FY24

Moving on to the Financial Services Segment.

New business development in the segment remained robust throughout the year. A total of almost 1.7 million new financing and leasing contracts were concluded, a solid year-on-year increase of nearly 10%.

Overall, new business volume even increased significantly by 12.5% to 64.5 billion euros, due to higher average financing volume per vehicle.

Penetration rates for lease and loan offerings rose by 4.4 percentage points, reaching 42.6%. Without China, the penetration rate was over 50%, with growth in particular in the US and the UK.

Segment earnings before tax amounted to 2.54 million euros and were therefore significantly lower than the previous year. This was mainly due to higher credit and residual value risk costs than in 2023, but well within our expectations. We continue to see gains from the sale of off-lease vehicles, yet at lower levels due to market dynamics.

The credit loss ratio of 0.26% across the entire credit portfolio was well within our expectations and below industry levels.

Return on Equity for the full year reached 15.1%, within our adjusted guidance range of 15 to 18%.

Ladies and Gentlemen,

In our BMW Group Report, you will note that we have voluntarily adopted the full European Sustainability Reporting Standards for the first time as the framework for reporting all sustainability-related disclosures in our combined non-financial statement.

The BMW Group only reports on sustainability topics that have been assessed as “material” according to ESRS. However, this does not mean that topics which are assessed as “not-material” are necessarily less important.

We view sustainability holistically and as a competitive advantage. That is why we disclose our sustainability performance to our investors and customers.

You will note that the implementation of ESRS requirements have contributed over 100 additional pages to our Report. Due to the company-specific materiality assessment, comparability between companies remains limited – even within the same industry.

Indeed, it can be questioned how much value the additional scope and limited comparability offer to stakeholders. Accordingly, we welcome the proposed regulatory changes in the draft of the so-called Omnibus package and look forward to the draft updates and reduced scope of the ESRS.

Ultimately, we want added value for our stakeholders – meaning relevant and concise information. It’s not just about reporting and compliance.

SLIDE: Proposed Dividend and Payout Ratio

One important element of our stakeholder orientation is our shareholder return strategy, which the BMW Group remains committed to.

The Board of Management and the Supervisory Board will propose a dividend of 4.30 euros per share of common stock and 4.32 euros per share of preferred stock to the Annual General Meeting. This results in a total dividend payout of 2.7 billion euros.

The proposed dividend for 2024 represents a payout ratio of 36.7%. This is within our long-term strategic target range of 30-40% and notably higher than the payout ratio in 2023.

On January 2nd, we began the final tranche of our ongoing second share buyback program, which should be completed by latest April 30th. This will conclude the second program – with 2 billion euros – more than half a year earlier than initially planned.

By this point in time, we will have reduced a total of 47 million shares in circulation since the start of the share buyback authorization in 2022. This corresponds to over 7% reduction in share capital.

At the upcoming AGM, the Board of Management of BMW AG plans to propose an agenda item, seeking a new five-year authorization to acquire treasury shares amounting to up to 10 percent of share capital.

You will have noted that we have made a step change in our approach since 2021. Starting in 2022, we added share buybacks as an additional instrument alongside dividend payments. We have also increasingly used the range of dividend payout corridor. And we increased the share of Automotive free cash flow distributed to shareholders from the previous years’ levels to almost 100% this year.

So, let’s move to the Outlook for 2025.

Looking to the market development:

Due to stabilizing inflation and declining interest rates in many countries, we expect to see a rise in demand.

How will the BMW Group’s sales performance develop this year?

Given the robust economic situation, we anticipate a solid market development in the US. In Europe, we do expect growth driven by electrified vehicles. The market dynamics in China, however, will remain challenging.

For the full year, revenues per vehicle in the Automotive segment are expected to be in the same range as 2024.

Our guidance reflects the current status of our planning, including all the tariff increases in force as of March 12th, 2025.

SLIDE: Outlook 2025

What do we expect for our key performance indicators in 2025?

Let me focus on selected guidance parameters.

In the Automotive Segment we are forecasting a slight increase in deliveries of BMW, MINI and Rolls Royce vehicles.

In terms of profitability, the total impact of the tariff increases in place as of March 12th amounts to approximately 1 percentage point on the Auto EBIT margin. As a result, the EBIT margin is now expected between 5 to 7%. Consequently, Return on Capital Employed in the Automotive segment should be within a range of 9 to 13%.

In the Financial Services segment, we anticipate a Return on Equity of 13 to 16%.

The Group’s pre-tax profit is expected to remain at the previous year’s level.

Starting January 1st, 2025, we have adjusted the outlook range for Group EBT guidance. The existing bandwidth was too narrow to reflect the underlying movements in the segments. For details, please refer to the glossary of the BMW Group Report.

The full outlook for 2025 for all key performance indicators is also available in the BMW Group Report.

For the full year 2025, we expect a free cash flow in the Automotive Segment of over 5 billion euros.

SLIDE: Closing

Ladies and Gentlemen,

The BMW Group remains fully focused on achieving our short-term results without compromising our long-term strategic objectives.

We remain committed to our long-term target corridor of 8 to 10% EBIT margin in the Automotive Segment.

To that end, we are constantly enhancing our operational business to ensure we achieve our strategic priorities and optimize our returns.

So, after the peak in 2024, we not only expect to see a turnaround in R&D expenditure and CapEx in 2025, but also a turnaround in operational costs. And here I mean a cost decrease in nominal terms, covering the effects of inflation. This will become visible over the course of the year.

At the BMW Group, strong brands and emotional products have long built the foundation of our success.

With the technological boost from the NEUE KLASSE across the entire portfolio, we look forward to seeing the benefits from our investments start hitting the road later this year.

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

Statement Oliver Zipse, Chairman of the Board of Management of BMW AG, Annual Conference 2025

Fri, 14 Mar 2025 15:35:55 +0100

- Check against delivery –

Statement
Oliver Zipse
Chairman of the Board of Management of BMW AG
Annual Conference 2025
BMW Welt in Munich, 14 March 2025, 08:00 a.m. CET

Part I:

Good Morning, Ladies and Gentlemen.

Welcome to our annual conference.

2025 will be a milestone year for the BMW Group in many respects – as we set the course today for our success in the decade to come.

Despite volatile global conditions, we remain firmly committed to growth in the current financial year. At the same time, we are bringing our largest future-focused project, the NEUE KLASSE, to the roads.

We have a clear plan: We remain sharply focused on innovation and sustainable growth. In 2025, we expect sales figures to rise once again. At the same time capital expenditure will decrease, as planned. This will enable us to increase our free cash flow.

There are four reasons for our confidence:

First:
Our strategy is robust and gives us a clear path forward. We are setting the pace in key areas. Our technology open approach remains successful and is gaining more traction. Policymakers and competitors are pivoting in our direction – which we continue to pursue systematically.

Second:
The BMW Group is one of our industry’s few true global players. Our extensive global footprint creates opportunities. It makes us resilient. And it provides the flexibility we need to respond effectively to external influences.

Third:
With BMW, MINI, Rolls-Royce and BMW Motorrad, we have four strong brands. All of them are incredibly popular around the globe. Each has its own distinct identity and delivers emotionally compelling products for different target groups.

And fourth:
Our NEUE KLASSE: No other manufacturer has a project as ambitious and ground-breaking as ours about to enter production. I will come to this in the second part of my presentation.

Let's start with the first topic: our strategic direction.
Our technology-open approach is market-oriented. It allows us to fully leverage the available potential across all markets and regions.

We make no distinctions – whether we are talking about combustion engines, plug-in hybrids, all-electric vehicles or, from 2028, a hydrogen-powered car. We consistently implement design principles, innovation and the latest technologies in all our vehicles.

No one masters this technological diversity better than we do. Numerous national and international accolades confirm this.

Our approach is also gaining increasing recognition in political circles. Even our competitors are pivoting towards our strategy. We have proven that technological openness, growth and CO₂ reduction are very much compatible.

Let’s take a look at 2024:

We met our adjusted targets for the year. We delivered more than 2.45 million vehicles and achieved an EBIT margin of 6.3 percent in the Automotive Segment.

Our vehicles with highly efficient combustion engines remain in strong demand worldwide. At the same time, battery-electric vehicles continue to be our main growth driver.

Several other manufacturers – including some that only produce electric cars – saw a decline in sales. But we achieved growth with our all-electric vehicles. Even in challenging market conditions. In 2024, BEV sales once again climbed significantly year-on-year – increasing by more than 13 percent.

Fully-electric vehicles accounted for over 17 percent of total sales last year. Including plug-in hybrids, nearly one in four vehicles sold was electrified.

We are targeting further growth in e-mobility in 2025. We will hit two major milestones this year: We will reach the total of more than three million electrified vehicles and over 1.5 million BEVs sold since the launch of the BMW i3 and BMW i8.

Our customers can choose between over 15 BEVs across all our brands. One example is the new edition of the BMW iX*: The recently presented model update boasts an impressive electric range of over 700 kilometres in the WLTP cycle – with significantly more drive power.

That is BMW EfficientDynamics.
Our combination of electrified vehicles and highly efficient combustion engines also has a positive impact on our climate footprint. In 2024, the BMW Group once again outperformed its European CO2 fleet target – by more than 30 grammes. Based on our internal calculations, our fleet emissions fell below 100 grammes per kilometre in the WLTP cycle for the first time.

We will continue to ensure that our customers always have access to the latest technology – across all drivetrains. The key to achieving this lies in our production network’s high level of flexibility.

That brings me to my second point:
our global footprint.

The BMW Group is a true global player. Very few automotive manufacturers have such a comprehensive presence across all relevant economic regions as we do. Be it in sales, research and development, production or our supplier network. This combination gives us a strategic advantage that sets us apart from the competition in an increasingly fragmented world.

We remain committed to expanding our local for local approach. We are constantly improving our access to different market regions and strengthening our resilience, especially along supply chains.
One example of this is our high-voltage battery assembly plants in the three major sales regions: Europe, the Americas and China. In total, five new assembly facilities for the next generation of high-voltage batteries are being built near our production sites worldwide – complete with a local supplier network. In this way, we are already creating the necessary conditions today for successful growth in the future.

We are gradually adapting our production network to rising sales of electric vehicles. Late this year, our new plant in Debrecen, Hungary will become our first facility to exclusively produce all-electric vehicles. Our main plant in Munich will follow in 2027.

Our production follows the market and our product range aligns with demand. We build roughly the same number of vehicles in our three key market regions of Europe, the US and China as we sell there. This balanced distribution is another key differentiator for the BMW Group.

At the same time, Germany and the US serve as key export hubs for us. In 2024, we manufactured over one million vehicles at our plants in Germany. This represents about a quarter of the country’s total car production. 56 percent of these vehicles are then exported outside the European Union.
An impressive proof of the BMW Group's significant contribution to industrial value creation in Germany.

In the US, one out of every two vehicles from our Plant in Spartanburg, South Carolina, is exported. Last year, we achieved an export value of over 10 billion US dollars. This once again makes the BMW Group the largest automotive exporter in the United States by value. We benefit from an integrated global economy. That is why we continue to advocate for open markets and free trade.

Third point: the performance of our brands.

The success of the BMW Group is built on the global appeal and resonance of our four brands. At the same time, we know how to fulfil the specific needs and preferences of our customers in different markets with our products.

Last year, our core BMW brand leveraged its strength to the full: In three out of four regions, BMW grew sales and gained market share. This has enabled BMW to maintain its number one position in the global premium segment.

BMW performed particularly well in Europe. Italy, Spain, France and the UK led the way, with all reporting double-digit growth rates.
With a six-percent increase, the brand significantly outperformed the overall European market, which only grew by just over one percent.

In the US market, we achieved record sales for the second consecutive year. Here, too, the strength of our market-driven approach to drivetrains is delivering results. Thanks to our steadily growing BEV portfolio, we sold more than 50,000 electric vehicles in the US for the first time. With this momentum, we are optimistic about the year ahead, as we celebrate “50 years of BMW North America”.

In our markets outside the main sales regions, we also posted growth, in a declining environment overall. In this region, we lead the premium segment in total for the first time ever. The main growth drivers here included the South Korean, Australian and Indian markets.

China remains a key market for the BMW Group. In 2024, we sold more than a quarter of all our vehicles there. The market is highly dynamic and characterised by increased competitive pressure. In this environment, BMW maintained nonetheless its position as the number one in its segment with a market share of three per cent. This put us within our target range.

In 2024, we delivered over 100,000 BEVs to customers in China for the first time. This makes China our biggest single market for electric vehicles – even though our sales performance there was dampened last year by persistently low consumer sentiment.

The high-margin vehicles built by BMW M once again played an important role in our market success in 2024. For the 13th consecutive year, M sales increased. Nearly one in ten BMWs sold carried the letter M. Demand for the sportiest BMW models has continued to grow, especially in China.

2025 is the first year with the complete New MINI Family available. And we will exploit this potential.

There are a total of five unique models to choose from – three of them BEVs. The fully-electric MINI models – with the MINI Cooper Electric* leading the way – are being particularly well received. With an increase of 24 percent year-on-year, sales of MINI BEVs also saw highly dynamic growth last year. Nearly one in four MINIs is now powered by an electric heart.

In the ultra-luxury segment, Rolls-Royce continues to set the benchmark. At more than 5,700 units, Rolls-Royce sales remain high.
Most notably, the all-electric Spectre exceeded expectations in its first full year of sales. Every third Rolls-Royce sold is now fully-electric.

BMW Motorrad also impressed in 2024, achieving a new all-time sales high of over 210,000 units. BMW Motorrad remains the undisputed number one in the global premium motorcycle segment.

Ladies and Gentlemen,

All of this shows that the BMW Group is well positioned across all brands, drive technologies and segments to continue on its growth path. With our global approach, we have the right answers to challenges worldwide. This has often enabled us to offset fluctuations in demand in individual markets.

Now, it is time for Walter Mertl to present the Group Financial Statements for 2024 and look ahead to our goals for 2025.

Part II:

Ladies and Gentlemen,

Growth and innovation – these are two of the main topics we will be focusing on this year. At the same time, we stand on the threshold of a new era.

Late this year, we will launch our NEUE KLASSE: a project that is unprecedented in both form and significance in the history of the BMW Group.

With the NEUE KLASSE, we will be turning the mobility of the future into reality. Driving dynamics, drivetrain, battery technology, operating concept, digitalisation: We have refined each of these aspects and, in the case of design, even skipped a generation.

In this way, we are redefining not only the BMW brand, but also the future of individual mobility.

Standing here next to me is the BMW Vision Neue Klasse X: the series version of this vehicle will kick off the NEUE KLASSE. Production will ramp up at our new plant in Debrecen late this year.
After that, the rollout will continue in rapid succession, including a sporty sedan at the core of the BMW brand in 2026.

We are deliberately starting out in high-volume segments: We want our innovations to have a broad impact, not just in niche segments.

Between now and 2027, we will release more than 40 new or updated BMW models onto the market – from electric to plug-in hybrid to vehicles with combustion engines. Each will have the DNA of the NEUE KLASSE.

The NEUE KLASSE is BMW and BMW is the NEUE KLASSE.

The NEUE KLASSE is more than just a single vehicle. It marks the beginning of a completely new generation and introduces our technology boosters for the entire brand. Regardless of the drive technology, all future BMW models will benefit from the technologies of the NEUE KLASSE – and, of course, also from the new design language.

Allow me to share a few examples of our groundbreaking advances in technology:

With the BMW Panoramic iDrive, we are re-imagining our typical BMW driver orientation. The all new BMW Panoramic Vision is the centrepiece. This newly-developed additional Head-Up Display projects content across the full width of the windscreen.

Seamless integration of various display and operating elements enables a completely new level of intuitive interaction. From the launch of the very first model of the NEUE KLASSE, all future BMW models will come with BMW Panoramic iDrive.

The sixth generation of our BMW eDrive technology will make e-mobility even more appealing to our customers. The new BMW round cells promise 20 percent higher energy density, 30 percent faster charging and at least 30 percent more range. And within just 10 minutes, enough energy for another 300 kilometres can be recharged.

For the first time, the Gen6 high-voltage batteries also feature the latest 800-volt technology and enable bi-directional charging. Compared to the current fifth generation, we will reduce the cost of the high voltage battery by 40-50 percent, on a comparable electric range basis.

The electronics architecture has also been completely redesigned. Going forward, its four high-performance computers will control key customer functionalities. For example driving dynamics, automated driving and infotainment.

These “super-brains” deliver more than 20 times the in-vehicle computing power than current systems. This makes our models future-proof for software and function updates, as well as new AI features.

We have also greatly simplified the electrical system, dividing it into four zones, with intelligent control. 600 metres less wiring, a 30 percent reduction in weight and a 20 percent increase in energy efficiency are just some of the improvements we will achieve with this.

And, of course, we are also harnessing technical opportunities to take driving dynamics to a whole new level.

The BMW Vision Driving Experience showcases the potential of the technologies introduced in the NEUE KLASSE. We are pushing driving dynamics to its physical limits.

This highly emotional driving machine will thrill more than just BMW fans.

The VDX is the most powerful development prototype BMW has ever built. We are using it to test our “Heart of Joy” – one of the four super-brains in the NEUE KLASSE.

We developed the software for the driving dynamics control system entirely in-house. This will be used in all future electric BMW models, setting new standards for dynamic performance and efficiency.

It is hard to put into words exactly how it feels behind the wheel. You simply have to experience it.

Take a look for yourselves at what our “Heart of Joy” can do, paired with a maximum torque of 18,000 Newton meters.

You can't fake that kind of enthusiasm. Our Board of Management already had the chance to drive the series version of the NEUE KLASSE. Let me tell you: We were all equally excited about the driving experience – but not just in terms of pushing the physical limits. Most importantly, we were deeply impressed by the added value our technologies create for our customers in everyday situations.

This is truly the next level of Sheer Driving Pleasure.

Ladies and Gentlemen,

We first announced the NEUE KLASSE at our Annual Conference back in 2021. Today, just four years later, we are entering the final stretch.

Standing next to me is one of the prototype vehicles we have been producing in Debrecen since late last year.

What is still hidden under camouflage foil here will be unveiled at the IAA MOBILITY in Munich in early September. There we will present the production model that will be available to our customers.

I can already reveal one key detail to you today: this BMW will be released onto the market as the BMW iX3. This is how we continue the success story of the first all-electric BMW X model that has won over BMW fans worldwide since 2020.

Testing of the BMW iX3 is in full swing.

These impressions show that the next BMW iX3 is a typical X model, and a BMW through and through. As I’m sure you saw at the end of the film: The final phase of development for the sporty sedan, the second NEUE KLASSE vehicle, is also progressing rapidly.
Ladies and Gentlemen,

What has always set the BMW Group apart is that we keep our sights set on operational performance in the here and now. At the same time, we lay the foundation for our long-term future success.

We will continue to consistently pursue our BMW path – with foresight, customer focus, self-confidence and in the knowledge of our strengths.

We are ready. More than ever.

Thank you.

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

Charge faster, drive further: BMW Group reveals revolutionary electric drive concept with 800V technology for the Neue Klasse

Fri, 21 Feb 2025 00:01:00 +0100

Munich/Landshut. The BMW Group is presenting its next leap forward in the field of electric drive technology – and in the process ushering in a new era of all-electric driving. At the Tech Days event in Landshut, the company has provided some initial insights into the development and production of high-voltage batteries and electric drive systems using the sixth generation of BMW eDrive technology. Every fully electric Neue Klasse vehicle will enjoy the benefits. The first Neue Klasse model will go into series production later this year at Plant Debrecen in Hungary. Below is an overview of the technology highlights:

The Energy Master intelligent central control unit on the high-voltage battery – developed by the BMW Group and produced at Plant Landshut.
A new high-voltage battery concept that, together with the BMW cylindrical cell, promises to bring about a technological quantum leap – including significant improvements in energy density, charging speed and range.
The BMW Group also demonstrates its technology-openness with electric drive systems – through the use of different electric motor types: SSM and ASM.
A modular approach to electric motor production gives the BMW Group an exceptional degree of flexibility.
The BMW Group pools together expertise from the entire electric mobility value chain in Bavaria and Austria – from development, via purchasing and production, to recycling.
The BMW Group demonstrates both technology-openness and full expertise across all areas of electric mobility.

Adopting a technology-open approach while setting the pace in electric mobility

“For the BMW Group, electric mobility is the future and a key area of growth. We are leading the way with this drivetrain technology. At the same time, we are deliberately taking a technology-open approach, recognizing that mobility needs vary between different regions of the world,” explains Dr Joachim Post, Member of the Board of Management of BMW AG, Purchasing and Supplier Network. “We want to offer our customers the best drive concept for every need. It is possible to do both: offer the best drive technology for every need and be at the forefront of electric mobility.”

Slimmer, faster, further: the high-voltage batteries for Gen6

With the new sixth-generation BMW eDrive technology (Gen6 for short), the BMW Group is making a technological quantum leap. Improvements on the product side include a 30% faster charging speed and 30% increase in range, with certain models achieving even higher figures. Added to which, the Gen6 high-voltage battery concept benefits from the new 800V technology. Gen6 will make its debut this year in the Neue Klasse and subsequently be used to drive models across the BMW Group’s fully electric product range. The concept for the Gen6 high-voltage batteries is fundamentally new and will find applications in all vehicle segments – right up to the high-performance models from BMW M GmbH. Its new, even slimmer design allows the high-voltage battery to be integrated into a spread of different models, regardless of vehicle height. The high-voltage battery takes on the role of a structural component in the bodies of the Neue Klasse models (“pack-to-open-body”), and the new cylindrical cells will be integrated directly into the high-voltage battery (“cell-to-pack”). The new BMW cylindrical cell has a 20% greater energy density than its predecessor, the Gen5 prismatic battery cell. And charging in both directions will be possible: the BMW Group has confirmed bidirectional charging as standard for Gen6.

Highly intelligent central control unit: the BMW Energy Master

All of the elements that enable this technological leap forward come together in the BMW Energy Master. This central control unit is positioned on the high-voltage battery and provides the interface for high- and low-voltage power supply and for data from the high-voltage battery. It also controls the power supply for the electric motor and vehicle electrical system and ensures the safe and intelligent operation of the high-voltage battery. The BMW Group has filed a whole series of new patent applications for the vehicle electrical system, including its electronic fuses. Both the hardware and software of the Energy Master were developed fully in-house at the BMW Group. This ensures technological developments and updates for vehicles can be implemented independently and in real time via Remote Software Upgrades, providing a particular benefit for customers.

“Local for local” approach for high-voltage battery assembly and supplier network

The high-voltage batteries for the Neue Klasse are assembled in five new production facilities that the BMW Group has located close to its vehicle plants as part of a “local for local” approach. For example, cutting-edge assembly locations for Gen6 high-voltage batteries are taking shape in Irlbach-Straßkirchen (Lower Bavaria), Debrecen (Hungary), Shenyang (China), San Luis Potosí (Mexico) and Woodruff, near Spartanburg (USA). This approach safeguards production even in the event of unforeseen political and economic events. In addition, the existing locations are being strengthened, with jobs both secured and created. The “local for local” principle continues in the supplier network for battery cells: in order to cover the demand for Gen6, the BMW Group has reached contractual agreements for five battery cell factories – spread across Europe, China and the USA – with various partners.

“Cell-to-pack” and “pack-to-open-body”

Production of the Gen6 high-voltage batteries follows the “cell-to-pack” and “pack-to-open-body” principles. “Cell-to-pack” involves positioning the cylindrical cells – manufactured by the suppliers according to BMW Group specifications – directly in the housing of the high-voltage battery, without the intermediate step of a module being produced. “Pack-to-open-body” refers to the high-voltage battery’s new role as a structural component in the vehicle architecture. Numerous innovations patented by the BMW Group can be found here.

Know-how from Bavaria and Austria – in demand around the world

Before series production of the high-voltage batteries gets underway worldwide, the production processes will be developed and pre-series batteries subjected to thorough testing. This will happen at the BMW Group pilot plants for high-voltage batteries in Parsdorf, Hallbergmoos and Munich. The new series production plants around the world will then be ready. The product and process expertise is centred in Bavaria. Production of the Energy Master will take place at Plant Landshut, which will then supply all the high-voltage battery assembly plants around the world. There, the highly intelligent control unit will be installed on the high-voltage battery. The electric motor with sixth-generation BMW eDrive technology is produced at Plant Steyr in Austria, which is also home to a development centre for electric drive systems and thermal management.

Production of the Energy Master at BMW Group Plant Landshut

A state-of-the-art production system for the BMW Energy Master is taking shape at Plant Landshut. The plant is currently producing the highly complex control unit in pre-series. Series production on the first production line will begin in August 2025, with a further expansion stage to follow in mid-2026. This is the first time the development and production of this central control unit has taken place in-house at the BMW Group. “As the company’s largest in-house component manufacturer, Landshut plays an important role for the Neue Klasse,” says Dr Joachim Post. “The plant is an innovation hub and a driver of transformation.” Around 200 people will be employed in the Energy Master production area at Landshut when production begins, rising to as many as 700 people as it ramps up further. The BMW Group has channelled investment in the high hundreds of millions of euros into the expansion of electric mobility at Plant Landshut since 2020, strengthening both the production facility itself and Germany’s status as an industrial powerhouse for the long term. The modular manufacturing system used to produce the Energy Master was also designed fully in-house by the BMW Group. It is supplied with subcomponents by a supply chain set up by the BMW Group. This extends to the n-tier supply chain for supply-critical components such as semiconductors. The benefits of this set-up can be seen in terms of both costs and supply security. The scalable production system enables the company to respond quickly and flexibly to market requirements. The high degree of automation, involving up to 400 robots in the final expansion stage, maximises efficiency. Comprehensive in-process monitoring, which includes the use of AI-based camera systems, and 100-per-cent end-of-line system checks in a clean-room environment ensure optimum quality.

Different recycling processes within the value chain

As electric mobility ramps up, there is an increasing focus on recycling of high-voltage batteries at the end of their lifecycle. Under a long-term partnership with SK tes – a leading provider of innovative technology lifecycle solutions – cobalt, nickel and lithium from end-of-life batteries are recovered from the BMW Group and integrated into the supply chain for the manufacture of new batteries. This closed-loop approach increases the efficiency and resilience of the BMW Group as part of a circular economy. The BMW Group will follow a similar path in the USA, Mexico and Canada up to 2026 with a separate partnership.

Innovative direct recycling at the BMW Group

The BMW Group is also exploring other recycling options in the value creation process. One example of this is the direct recycling method developed in-house. The BMW Group is working with its joint venture Encory to set up a competence centre for battery cell recycling in Lower Bavaria, where the company will put its direct recycling ideas into practice. This innovative process will enable residual materials from battery cell production and whole battery cells to be mechanically broken down into their valuable constituent components. The raw materials obtained in this way will be re-used directly in the pilot production process for battery cells at the company’s competence centres.

Technology-open approach for electric mobility: the new e-drive system of Gen6

The BMW Group has retained the principle of an electrically excited synchronous motor (EESM) for its Gen6 power unit. On this type of synchronous motor, the magnetic field in the rotor is generated by windings fed with direct current rather than permanent magnets. In this way, the strength of the rotor’s magnetic field can be optimally adjusted to the prevailing load conditions. This results in both excellent levels of efficiency at customer-relevant operating points and constant power output at high rotational speeds. As with the Gen5 version, the synchronous motor will be positioned above the rear axle and feature a compact housing incorporating the electric drive unit, power electronics and transmission. Many of the motor’s technical details were created with the help of patented expertise, with the non-potted rotor alone accounting for more than ten patent applications.

Neue Klasse additionally incorporates ASM technology

The Gen6 powertrain employs a second, additional electric motor technology in the form of the asynchronous motor (ASM). Here, instead of being generated by permanent magnets (PSM) or electrical excitation (EESM), the rotor’s magnetic field is induced by the stator. On this type of motor, the rotor takes the form of a metal cage. The asynchronous motor offers the advantage of a more compact design and superior cost efficiency. The ASM motor variants will be fitted at the front axle of Neue Klasse cars with BMW xDrive.

Extensive improvements to EESM technology

Besides the addition of ASM technology, the EESM technology has also undergone a major upgrade for Gen6: rotor, stator and inverter have all been fully designed for the new 800V architecture of the Gen6 tech in order to maximise drive system performance and efficiency. This has been further helped by a complete redesign of the oil and water cooling systems. In addition to this, the experts from the BMW Group have also succeeded in improving the electric motor and central housing in terms of their weight and rigidity too. The transmission still uses a two-stage helical design, but has been further optimised by enhancements to its geometry and cooling, lower friction levels and more pleasant acoustics. The electrically excited synchronous motor’s “brain”, the inverter, now features 800V technology along with silicon carbide (SiC) semiconductors to boost efficiency. The inverter is completely integrated into the electric motor’s housing. Its task is to convert the DC power supply from the high-voltage battery to AC for use in the electric motor. The inverter was developed in-house by the BMW Group and is produced at Plant Steyr in Austria.

Lower weight, costs and energy losses – greater efficiency in the vehicle

The results obtained from intelligently incorporating new technologies into the electric powertrain while consistently enhancing existing systems make impressive reading. When compared to a Gen5 xDrive model, a future Neue Klasse model complete with EESM and ASM technology boasts the following improvements: energy losses have been reduced by 40%, costs by 20% and weight by 10%. By combining different types of electric motor, the BMW Group’s technology-open approach is therefore clearly in evidence within the field of electric mobility. In future, customers will be able to choose from models equipped with one, two, three or four electric motors to suit their individual preferences and requirements. The sixth generation BMW eDrive technology is a significant factor in the gain in overall vehicle efficiency of around 20 per cent for the Neue Klasse. This figure is based on a comparison with the current generation of all-electric vehicles from the BMW Group.

Modular concept provides crucial advantage for manufacturing electric motors

The manufacturing concept for the Gen6 electric drive system uses the principle of modular building blocks. This forms the basis for highly flexible manufacturing of various electric drive variants across the entire Neue Klasse model range. The modular "building block” concept leads to positive economies of scale and cost savings in development and production. It also has the effect of improving the scalability of production volumes. The modular approach ensures a high degree of flexibility in production, the supply networks and procurement.

The Gen6 electric drive systems: made in Steyr

Series production of the Gen6 electric drive systems will commence at BMW Group Plant Steyr in summer 2025. Pre-production already got underway at the Austrian facility in September 2024. The pre-production motors are undergoing rigorous testing and some are already being fitted in Neue Klasse test vehicles from Plant Debrecen. By 2030, the BMW Group will have invested over one billion euros at the site since the project’s launch in 2022 to expand its development and production expertise for electric drive systems. Thanks to the increase in capacity, the plant will retain its status as the BMW Group’s leading facility for drive systems. The plant has been developing and building combustion engines for the BMW and MINI brands for over 40 years. Plant Steyr’s many years of experience and high level of expertise in the field of drive systems make it the ideal site for manufacturing the Gen6 electric motors. It has an annual production capacity of 600,000 electric drive units. Diesel and petrol engines continue to be manufactured there alongside the electric motors. By 2030, around half of the on-site employees should be working in electric mobility – a vital step for safeguarding the more than 4,700 jobs at the plant in the long term. In future, all key components of the innovative, highly integrated electric drive unit – i.e. the rotor, stator, transmission, inverter and housing – will be produced at Steyr. This will include manufacturing the inverters in an in-house clean room environment for the first time, thereby taking the engine plant into the realm of electrical engineering. The electric drive components will be built on two new assembly lines at Steyr.

Thermal management: complex interaction, crucial for performance
Thermal management involves highly complex interaction between various systems in an electric vehicle and is of critical importance for a host of performance parameters, including range, real-world consumption, acceleration and charging time. Thermal management is a question of constantly keeping the temperature of the electric motor, power electronics and high-voltage battery in the optimum range, while maintaining standards of passenger comfort at the same time. Efficient thermal management is important for fast charging too. Here, the battery temperature must be kept within a defined window in order to make optimum use of the available charging capacity. Unlike combustion engines, electric motors give off little heat. This means that, depending on the operating state, the battery and the passenger cell have to be not only cooled, but heated too. The Steyr site develops the thermal management systems for all electric vehicles from the BMW Group. The plant’s development centre is also responsible for the brain at the heart of the electric motor – the inverter.

BMW Group Plant Landshut – a multi-talented component manufacturer

BMW Group Plant Landshut is the BMW Group’s largest component plant anywhere in the world, supplying components to all the company’s vehicle and drive system plants. Its workforce of around 3,700 employees produces a broad spectrum of cutting-edge components for vehicles from the BMW Group. Working closely with the BMW Group’s Research and Innovation Centre (FIZ) in Munich, Plant Landshut plays a pivotal role as a hub of innovation for the automotive industry. It develops pioneering technologies and manufacturing processes that serve to maintain the company’s competitive edge. Over the course of the Neue Klasse project, the site is investing some €200 million in its light metal foundry to increase annual production capacity for the electric motor housings. The Injector Casting (ICA) process developed and patented in Landshut is a prime example of the plant’s innovative strength. This globally unique process is used to manufacture the electric motors’ highly complex aluminium housings that set new standards for lightweight design and functional integration.

In the event of enquiries please contact:

Corporate Communications

Christian Marxt

Spokesperson Production Network, Powertrain and High-voltage Batteries

Mobile: +49-151-601-79158

E-mail: Christian.Marxt@bmwgroup.com

Carolin Seidel

Spokesperson BMW Group Plant Landshut

Mobile: +49-151-601-90340

E-mail: Carolin.Seidel@bmwgroup.com

Florian Moser

Team Lead Purchasing and Supplier Network, Spokesperson Dr Joachim Post

Mobile: +49-151-601-62847

E-mail: Florian.Moser@bmwgroup.com

Bernhard Ederer

Spokesperson Drive Technology, Battery, Charging, Efficient Dynamics

Mobile: +49-176-601-28556

E-mail: Bernhard.Ederer@bmwgroup.com

Diana Schaidnagel

Spokesperson Sustainability

Mobile: +49-151-601-38407

E-mail: Diana.Schaidnagel@bmw.de

The BMW Group

In 2024, the BMW Group sold 2.45 million passenger vehicles and more than 210,000 motorcycles worldwide. The profit before tax in the financial year 2023 was € 17.1 billion on revenues amounting to € 155.5 billion. As of 31 December 2023, the BMW Group had a workforce of 154,950 employees.

The economic success of the BMW Group has always been based on long-term thinking and responsible action. Sustainability is a key element of the BMW Group’s corporate strategy and covers all products from the supply chain and production to the end of their useful life.

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

BMW Motorrad Canada returns to the Toronto Motorcycle and Powersports Show and showcases its three exciting M motorcycles at the Canadian International AutoShow.

Wed, 12 Feb 2025 14:00:00 +0100

Richmond Hill, ON. BMW Motorrad Canada is thrilled to announce its exciting return to the 2025 Toronto Motorcycle and Powersports Show, taking place from February 14-16, 2025. BMW Motorrad Canada is eager to return to the show and connect with motorcycle enthusiasts and showcase its latest lineup of innovative and thrilling motorcycles.

The Toronto Motorcycle and Powersports Show will feature all of the newest and most exciting BMW motorcycles, providing attendees with the opportunity to experience the brand's commitment to performance, safety, and cutting-edge technology. Visitors can expect to see a diverse range of models that cater to every type of rider, from adventure seekers and thrill riders to urban commuters.

Notable motorcycles on site to include the all-new R 1300 GS and GS Adventure, F 900 GS, newly revised S 1000 RR and the all-electric CE 02, among many others.

In addition to the 2025 Toronto Motorcycle and Powersports Show, BMW Motorrad Canada will also have a noteworthy presence at the 2025 Canadian International AutoShow (CIAS), where the Bavarian brand’s vehicle division will feature a visually impressive, M-themed takeover display. Fittingly, BMW Motorrad Canada will proudly showcase its three exciting M-branded motorcycles: the M 1000 RR, M 1000 R and M 1000 XR, highlighting the brand's performance heritage and the thrilling experience that comes with riding an M bike.

“We’re excited to have a notable presence at both shows this year,” said Alex Welsh, Marketing Manager with BMW Motorrad Canada. “Whether you’re into two wheels or four, you’ll be seeing BMW Motorrad in a big way.”

The AutoShow will run concurrently with the Motorcycle and Powersports Show, providing a unique opportunity for fans of both cars and motorcycles to explore the best of BMW.

Event Details:

The 2025 Toronto Motorcycle and Powersports Show
Dates: February 14-16, 2025
Location: Enercare Centre at Exhibition Place, Toronto, ON
2025 Canadian International AutoShow
Dates: February 14-23, 2025
Location: Metro Toronto Convention Centre, Toronto, ON

Join us at both events to discover the latest innovations from BMW Motorrad and experience the thrill of riding like never before. Whether you're a seasoned rider or new to the world of motorcycles, BMW Motorrad Canada invites you to explore its exciting offerings and connect with fellow enthusiasts.

For more information on The Toronto Motorcycle and Powersports Show, please visit https://motocanada.com/shows/toronto/.

For more information on the Canadian International AutoShow, please visit https://autoshow.ca/.

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BMW Group in Canada

BMW Group Canada, based in Richmond Hill, Ontario, is a wholly-owned subsidiary of BMW AG and is responsible for the distribution of BMW luxury performance automobiles, Sports Activity Vehicles, Motorcycles, and MINI. BMW Group Financial Services Canada is a division of BMW Group Canada and offers retail financing and leasing programs and protection products on new and pre-owned BMW and MINI automobiles, as well as retail financing for new and pre-owned BMW Motorcycles. A total network of 51 BMW automobile retail centres, 26 BMW motorcycle retailers, and 31 MINI retailers represents the BMW Group across the country.

For more information, please contact:

Marc Belcourt

Director, Corporate Communications

BMW Group Canada

905-428-5078 / marc.belcourt@bmwgroup.ca

Jean-Francois Taylor

Product and Technology Manager, Corporate Communications

BMW Group Canada

905-428-5366 / jean-francois.taylor@bmwgroup.ca

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

On a level of its own: BMW Group Canada to unveil an unmatched experience at the Canadian International AutoShow with the “Level ///M” takeover display.

Tue, 04 Feb 2025 14:55:00 +0100

Richmond Hill, ON. BMW Group Canada is excited to announce its grand return to the Canadian International AutoShow (CIAS) for 2025, presenting an expansive and immersive BMW M-themed display. Attendees can look forward to an impressive lineup of vehicles, including the all-new and Canadian-favourite X3 M50, the newly revised iX, the M4 CS and for the first time in Canada, the all-new M5 Touring. MINI Canada will also be making its much-anticipated return to CIAS.

With a visually stunning and emotionally engaging takeover of Level 600, the Bavarian automaker aims to captivate showgoers as they transition between the North and South buildings of the Metro Toronto Convention Centre.

BMW will be the first automaker to ever occupy this prime space at CIAS, as Level 600 has never been exclusively taken over by a single automaker. This area has been identified as the show’s busiest location for foot traffic, effectively capturing the attention of the entire audience.

“For BMW Group Canada, the 2025 Canadian International AutoShow offered an ideal platform to connect with our current customers, brand prospects and the general public,” said Jonathan Thomson, Director of Brand Management with BMW Group Canada. “Our Experiential Marketing team have created something that can’t be missed and surely won’t be forgotten.”

Every facet of the M brand will be showcased, including traditional internal combustion vehicles, battery-electric cars, Sport Activity Vehicles, M performance, M high-performance models, and motorcycles. The MINI brand will also return with a vibrant display on Level 700 of the South building, featuring its entirely new and distinctive product lineup.

Additionally, BMW and MINI will take over the roundabout on Level 500 at Bremner Blvd for an exclusive test drive program. Located in one of the show’s highest-traffic areas, this program will feature exciting vehicles, including the all-new X3 M50, the award-winning i4 M50, i5 M60, iX M60, MINI JCW 3-door, and MINI Countryman SE.

“We are committed to leaving a lasting impression on everyone who visits our display. We are challenging ourselves to think innovatively and ensure that we have something for every attendee,” says Vito Sacchetti, Experiential Marketing Manager for BMW Group Canada. “From igniting excitement in the next generation of drivers to engaging those actively in the market, we want everyone to leave the show thinking about BMW.”

In addition to the impressive vehicle lineup, BMW Canada will host a variety of exciting activations on-site. Among them, a special photo opportunity will allow attendees to capture some memorable moments. Furthermore, guests will have the chance to enter a draw for a grand prize travel experience, adding an extra layer of excitement to their visit.

Taking place from February 14-23, 2025, at the Metro Toronto Convention Centre, CIAS is Canada’s largest auto show, attracting over 300,000 visitors annually.

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BMW Group in Canada

For more information, please contact:

Marc Belcourt

Director, Corporate Communications

BMW Group Canada

905-428-5078 / marc.belcourt@bmwgroup.ca

Jean-Francois Taylor

Product and Technology Manager, Corporate Communications

BMW Group Canada

905-428-5366 / jean-francois.taylor@bmwgroup.ca

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

Initial information on the Concorso d’Eleganza Villa d’Este 2025.

Thu, 05 Dec 2024 10:00:00 +0100

Munich/Cernobbio. On 23 – 25 May 2025, BMW Group Classic will host the legendary Concorso d’Eleganza Villa d’Este in cooperation with the Villa d’Este luxury hotel. Around 50 spectacular cars of their respective eras will once again do battle for the coveted prizes. Most prestigious of all is the Trofeo BMW Group, awarded by the high-calibre Jury to the overall winner of the Concorso d’Eleganza.

The following competition classes have already been set out by the Concorso d’Eleganza Villa d’Este Sourcing & Selecting Committee:

Frozen in Time: Preservation ‘Time Capsules’ from 1900-1973 which have survived in unrestored State.

“Go Big or Go Home”: Automotive Excess of the ‘80s and ‘90s, when nothing seemed too fast, expensive, or bold.

Sculpture in Motion: The Decade of the automotive Arms Race, 1928-1938.

Glorious Excess: The Evolution of the ‘Money no Object’ Motor Car, 1920-1940.

The Sourcing & Selecting Committee for the Concorso d’Eleganza Villa d’Este 2025 is now inviting owners of exceptional classic cars to sign them up for the competition. You can register for the competition classes already confirmed at the event website https://www.concorsodeleganzavilladeste.com/registration/.

Cars can also be registered outside of the categories set out so far. Further classes will be announced in due course.

A tradition without parallel around the world, meanwhile, is the fascinating get-together of the latest concept cars. And registration is now also open for this section of the event to concept car owners and manufacturers.

BMW Group Classic will be honouring several anniversaries at Lake Como in 2025. First and foremost, the 50th birthday of the BMW 3 Series will be celebrated in the grounds of Villa Erba, while the centenary of the Rolls-Royce Phantom will also be marked in suitable style in the grounds of Villa d’Este. And due recognition will likewise be afforded to the BMW Isetta (70th birthday) and BMW 507 (70th birthday).

The Concorso d’Eleganza Villa d’Este Public Days will again take place outside the nearby Villa Erba in 2025. They were a big success in 2024, attracting around 12,000 visitors. And on Sunday, 25 May, Public Day – Il Festival will again give the wider public the opportunity to experience the parade of cars entered in the Concorso d’Eleganza Villa d’Este.

The Amici & Automobili – Wheels & Weisswürscht event format familiar to many from its Munich roots and now also an established fixture on the shores of Lake Como will also be part of the festival weekend in 2025. On Saturday, 24 May, car clubs and communities from around the world will be warmly invited to present their models to the extensive galleries of visitors. Here, too, the BMW 3 Series’ landmark birthday will be celebrated in suitable style. Owners can apply to enter their classic cars with BMW Club & Community Management now at bccm@bmwgroup-classic.com.

The Concorso d’Eleganza Villa d’Este is also thrilled to announce Broad Arrow Auctions, a Hagerty company, as the event’s new official auction partner for 2025 and beyond. Broad Arrow will host an auction during the Concorso on an annual basis and is expected to offer up to 70 of the highest quality collector cars for sale on the shores of Lake Como on Saturday, 24 May 2025 at Villa Erba. As one of the fastest-growing global leaders in the collector car auction and private sales industry, Broad Arrow’s Villa d’Este Auction at Villa Erba will mark the company’s European live auction debut following highly successful flagship sales in North America. These sales include The Monterey Jet Center Auction, in conjunction with Motorlux in California. Interested consignors are invited to contact a Broad Arrow Auctions car specialist via broadarrowauctions.com or on +44 20 4592 0169 (+1 313 312 0780 in North America).

Helmut Käs, Head of BMW Group Classic and President of the Concorso d’Eleganza Villa d’Este: “The Concorso d’Eleganza Villa d’Este 2024 was a great success in every respect, and the established event features for the wider public played a key role. We are keen to build on this success in 2025 and will put together an event programme brimming with highlights once again. One of these will without doubt be the auction conducted by our new partner Broad Arrow Auctions.”

“We could not think of a better, more prestigious location and renowned partner to launch our first ever auction in Europe than the Concorso d’Eleganza Villa d’Este. We are honoured to partner with BMW as the official annual auction house of the Concorso d'Eleganza Villa d'Este, their choice speaks volumes to the proven track record of our team of specialists and the growth of our company in just a few short years,” said Kenneth Ahn, President of Hagerty Marketplace and Broad Arrow Auctions. “The Concorso is the crown jewel in the concours world, and we are excited to present some of the most exceptional collector cars available with a premium auction experience next May and beyond.”

Davide Bertilaccio, CEO Villa d'Este Hotels highlights: "While at Villa d'Este another incredible Christmas season has arrived, we are also working relentlessly with the BMW Group Classic team for the organization of the 2025 Concorso d’Eleganza Villa d’Este edition. For almost a century this exclusive event has embodied the heritage, the passion and the timeless elegance for what Villa d'Este has always been renowned for. It will be another memorable weekend celebration of the automotive art on the shores of Lake Como together with our long-standing partner BMW Group Classic."

Further details on the features and content of the 2025 event will be announced in the spring.

Tickets for the Concorso d’Eleganza Villa d’Este, as well as for Amici & Automobili – Wheels & Weisswürscht and Public Day – Il Festival are available here:

https://www.concorsodeleganzavilladeste.com/packages-tickets/

Keep up to speed via the following channels:

Concorso d’Eleganza Villa d‘Este App for iOS and Android

Concorso d’Eleganza Villa d’Este website: https://www.concorsodeleganzavilladeste.com/

Instagram: https://www.instagram.com/concorsodeleganza_vde/

BMW Group Classic Media Server for downloads:

https://www.bmwgroupclassic-downloads.com/Events/

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

Statement Oliver Zipse, Chairman of the Board of Management of BMW AG, Conference Call Half-Year Report to 30 June 2024

Thu, 01 Aug 2024 08:32:00 +0200

- Check against delivery –

Ladies and Gentlemen,

In the past few days, several automotive manufacturers have released their half-year results: A glance at the numbers shows just how differentiated our industry is.

The basic principles are the same for everyone – which reveals even more clearly how different strategic approaches are performing in the current environment. All those who are broadly diversified are reaping the benefits.

Our own ambitions are underlined by the first six months: In the face of headwinds, we can capitalise on our competitive strength in the market.

In the first half of 2024, BMW Group deliveries were at the same high level as the previous year. Our core BMW brand is growing.

In terms of financial performance, we also deliver consistently high profitability.

For the past ten consecutive quarters, our EBIT margin in the Automotive Segment has been within our strategic target range of eight to ten percent, or higher.

At 10.9 percent, the Group EBT margin once again outperformed our strategic target of 10 percent.

Above all, our all-electric vehicles and models in the higher-priced upper segments of our BMW and BMW M brands remain in very high demand.

In our view, e-mobility will continue to be the core drive technology of the future and our primary growth driver.

We anticipated this development early – which is why we have one of the most comprehensive and attractive EV portfolios in the marketplace today. We already offer at least one BEV model in nearly every segment that is relevant for us.

This wide-ranging offering lays the foundation for our continued dynamic growth in BEVs – even in the current more challenging market environment.

In absolute terms, BMW comes in a strong third in electric vehicle sales among all OEMs worldwide.

Our impressive performance in ramping up electromobility becomes even clearer when we look at the rate of growth in the first half of the year.

With growth of 34 percent, the BMW brand is number one worldwide among all relevant major players.

Take the example of the BMW X1, a customer favourite, and our luxury sedan, the new BMW 7 Series: In the case of both vehicles, one in five customers is already opting for the all-electric iX1* or i7* variant.

In the first half of 2024, our fully-electric sport coupé, the
BMW i4*, remained our line-up's best-selling electric vehicle – once again posting double-digit growth.

I have emphasised many times that following the hype without careful consideration is not a strategy. Emotionality and nervousness have never been good counsellors.

Our strategy is grounded in facts, experience and a continuous, realistic assessment of the current situation. It has proven robust – especially in turbulent times.

The approach to drive technologies rooted in this strategy makes us resilient and secures our market success.

With our globally aligned, highly flexible production network, we are capable of responding to fluctuations in demand better than others.

Supply chain management is increasingly critical to success.

We have established processes to identify risks in our supplier network at an early stage. This enables us to take action before a risk becomes an issue. We have not had any major impact recently.

This also ensures that we can respond to regional differences in customer preferences as needed – whether for cars with internal combustion engines, plug-in hybrids or BEVs.

As a result, we have consistently outperformed EU CO2 requirements for years.

One thing is clear: The most impactful contributions to climate protection are those we can make today: In other words, every tonne of CO2 we can save today – not sometime in the future – counts.

This also entails demanding and promoting the use of low-CO2 fuels like e-fuels, E 25 or HVO100 – as quickly and as widely as possible.

These fuels could immediately improve the carbon footprint of the existing fleet of more than 250 million vehicles in the European Union.

At the moment, however, we see a significant risk of eFuels being politically instrumentalised in the debate about the ban on combustion engines from 2035.

There are currently many indications that the EU Commission is striving for a bogus solution in which the ban on combustion engines is relaxed simply by ostensibly opening up to eFuels.

However, if it then does nothing to accelerate the ramp-up of low-CO2 fuels and make their use practicable, this would be a deliberate ban on combustion engines through the back door.

We continue to believe that a categorical ban on combustion technology is wrong. And we are also publicly committed to our highly efficient engines and plug-in hybrid technology, such as that used in our new BMW X3.

As a hybrid version, the high-volume X3 enables locally emission-free premium mobility well beyond city traffic.

The new X3 will be released onto the market in the fourth quarter – initially in the US and Europe.

You all know how popular our X models are. Last year, the current X3 was the best-selling model across our entire BMW product range.

When the all-electric NEUE KLASSE ramps up at our specially-built plant in Debrecen in late 2025, it will initially launch with an X model. This will be followed soon afterwards by a sporty sedan from Plant Munich.

With the NEUE KLASSE, our aim is to once again expand our technology leadership. Preparations are in full swing and progressing according to plan – despite the challenging conditions.

Our technology clusters allow us to quickly deploy the technologies of the NEUE KLASSE across our entire vehicle portfolio – elevating it to a whole new level, regardless of the drive technology.

Mastering this degree of integration and executing it efficiently are highly complex tasks. This is precisely where future competitiveness will be decided in our industry.

It is why we continue to focus on optimising interaction between all technologies – creating a holistic mobility experience for all our customers.

Our automated driving functions provide a good example of our technological edge.

A few weeks ago, we released a world first onto the market: We are the first automotive manufacturer to offer the combination of Level 2 and Level 3 driver assistance systems exclusively in Germany in the new 7 Series.

We have already obtained Level 2+ approval for numerous BMW models in the US, Canada and – making this another field where our technology clearly sets us apart. We will solidify this leading position with the NEUE KLASSE.

Ladies and Gentlemen,

The automotive industry is a major driver of the global economy – which increasingly makes it the focus of geopolitical interests.

The issues range from growing regulation to protectionist measures in the major economic areas of the US, China and the European Union.

We are seeing global competition for raw materials and access to strategically critical technologies, such as high-voltage batteries and semiconductors, as well as advancements in AI applications.

Each region and individual state is seeking to protect its own economic interests. This also includes localising the entire automotive value chain, including supply chains.

At the BMW Group, we remain committed to open markets and opposed to artificial barriers such as punitive tariffs.

The introduction of additional import duties, like those recently imposed by the EU, leads us down a dead-end street – and will ultimately not make European manufacturers any more competitive.

On the contrary, EU tariffs on BEVs from China instead penalise European manufacturers like the BMW Group – since they also produce vehicles in China for the European market.

Additional customs duties also limit the choice of electric cars for European customers and could therefore slow down decarbonisation in the transport sector.

Measures always lead to countermeasures. Let us not forget that implementation of the Green Deal in Europe also relies heavily on raw materials and technology from China, in particular.

Ladies and Gentlemen,

The BMW Group cannot entirely escape current market and geopolitical developments. However, with our long-term, yet flexible strategy, we are in the driver's seat.

We adapt quickly and effectively as conditions evolve.

We see no reason for hasty action or fundamental course adjustments.

We will continue on our path in the future. That means, sometimes we do things differently – but always out of conviction, not merely on principle.

This is what makes us strong and successful in the long term.

The fact of the matter is: The automotive industry will remain a growth sector in the future – and we intend to make sure the BMW Group in particular benefits from it.

Thank you.

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

First North American press shop: BMW Group further expands US commitment

Fri, 21 Jun 2024 19:00:00 +0200

Spartanburg, USA. Celebrating 30 years of production, BMW Group Plant Spartanburg in South Carolina, USA, has opened its state-of-the-art press shop, as it prepares for the launch of the new BMW X3. The X3’s outer skin, including its exterior body sides, doors, side panels and tailgate, will all be produced by the plant's own press shop.

Speaking in Spartanburg, Milan Nedeljković, member of the Board of Management of BMW AG responsible for Production, underlined the plant’s importance for the company and highlighted future opportunities: “After 30 years of successful production, we are further expanding our commitment. In late 2026, production of fully-electric Sports Activity Vehicles will get underway here in Spartanburg – a further step towards strengthening our global resilience.”

Between now and 2030, at least six fully-electric models will ramp up at the US plant. The high-voltage batteries for future BEVs from Spartanburg will come from nearby Woodruff, where the BMW Group is currently setting up an assembly for sixth-generation batteries. The innovative new press shop also contributes to strengthening the local manufacturing footprint in the US.

“The advanced production methods used in our press shop will ensure the highest quality and efficiency of body components for our customers,” said Robert Engelhorn, president and CEO of BMW Manufacturing. “Having this press shop on-site fits our ‘local for local’ strategy, whereby we produce major parts at the location where we need them.”

The BMW Group has invested more than $200 million to construct the roughly 20,000-square-metre press shop. It took just under two years from site work preparation to stamping the first parts on the press line. The investment has also led to the creation of more than 200 new jobs in various fields, including tool and die technicians, as well as in electrical and mechanical maintenance for automated machinery. Dozens of associates from Plant Spartanburg trained at the BMW Group press shops in Swindon in the UK and Leipzig in Germany.

During the ceremony, the fourth-generation BMW X3 was also presented to the audience. The BMW X3 is one of the company’s best-selling vehicles in the United States and worldwide. Plant Spartanburg associates have built more than 1.7 million BMW X3s since the model was introduced back in 2010. The new BMW X3 will be released onto the market in autumn 2024.

High-tech press shop produces up to 10,000 parts per day

The press shop marks the beginning of the automotive production process. Large steel or aluminium coils are unloaded from trucks using a 55-ton overhead crane. These steel rolls are first fed into the coil line, where the sheet is cut into individual “blanks” (rectangular cut-offs or special shapes) at up to 70 strokes per minute. These blanks are then ready to be fed into the five-phase press line, where they are formed into the final body components.

The line is equipped with cutting-edge servo technology, which enables the BMW Group to produce large quantities very efficiently. An overhead crane moves the correct press tool (die) into each station. The blank is fed into the first press station and transferred from one station to the next by a robot-like automation technology, referred to as the “crossbar feeder” for additional forming and trimming operations. The line is capable of running up to 18 strokes per minute, which means more than 10,000 components can be produced each day, depending on the size.

After the parts are stamped, they go to quality control for inspection, using special lighting that mimics natural daylight. The pressed parts are then stacked into containers, ready for delivery to the body shop for further processing.

Like other BMW Group plants, Plant Spartanburg has also established a closed-loop material cycle for scrap metal from the press shop. Underneath both the press and coil lines are areas that collect the scrap metal gathered after the parts are stamped. As much as 60 tons of scrap are accumulated each day; a roughly 300-metre-long conveyor carries the scrap, which is then loaded onto trailers. All this material is taken off-site to be recycled and reused to manufacture new steel and aluminium coils.

Almost seven million BMWs in 30 years at Plant Spartanburg

This year, Plant Spartanburg celebrates 30 years of production in South Carolina, with more than 6.7 million BMWs assembled during the past three decades. The plant employs more than 11,000 people in production of various BMW X models and is one of the BMW Group’s largest plants worldwide, with over 1,500 vehicles manufactured daily. The 750,000-square-metre campus includes three body shops with more than 2,600 robots, two paint shops and two assembly halls. The plant generates about 20 percent of its own power from recycled methane gas obtained from a local landfill and uses hydrogen fuel cell technology to power about 800 logistics vehicles.

The BMW Group announced in 2022 that it would invest $1.7 billion in its US operations, including $1 billion to prepare Plant Spartanburg to assemble fully-electric vehicles and $700 million to build a new high-voltage battery assembly plant in Woodruff. When completed in 2026, Plant Woodruff in South Carolina will assemble the sixth-generation batteries to supply fully-electric vehicles at BMW Group Plant Spartanburg.

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

World premiere in Cannes: the BMW XM Mystique Allure, inspired by Naomi Campbell.

Thu, 16 May 2024 10:00:00 +0200

Munich/Cannes. Glittering movie premieres, stars gracing the red carpet and a high-performance vehicle that looks like nothing else: this is the ##Cannes Film Festival## and yesterday it hosted the world premiere of the ##BMW XM Mystique Allure##. This one-off creation is based on the first high-performance sports car from ##BMW M GmbH## powered by the ##M HYBRID## drive system. Blending progressive luxury with extravagant looks, it is inspired by British supermodel ##Naomi Campbell##, was designed using exclusive materials from the world of haute couture and has a unique soundtrack devised in cooperation with film score composer Hans Zimmer.

The BMW XM Mystique Allure is the latest product of the collaboration between BMW and Naomi Campbell. The partnership took its first steps last year with the “Dare to be You” launch campaign for the ##BMW XM##, which puts the confidence to be yourself and go your own way at centre stage.

The BMW XM Mystique Allure and Naomi Campbell: making a grand entrance at Cannes.

The 77th Cannes Film Festival was the ideal choice of setting for the world premiere of the BMW XM Mystique Allure. Against the stunning backdrop of the French portside resort, Naomi Campbell presented the one-of-a-kind creation inspired by her to an audience of selected guests, before making her way in the car to the red carpet outside the Palais des Festivals et des Congrès. “Witnessing BMW's vision for the BMW XM Mystique Allure come to life has been truly incredible,” says Naomi. “I feel deeply honoured to have sparked the inspiration for their first-ever high-fashion show car, which stands as a unique masterpiece in every aspect.”

This is the third year in succession that BMW has stepped up as Official Automotive Partner of the Cannes Film Festival. And it will lay on an exclusive shuttle service of more than 200 vehicles – among them the all-electric BMW i7, BMW iX and BMW i5, and the plug-in-hybrid BMW XM – to give participants and guests at the event the experience of locally emission-free premium mobility.

First BMW designed with high-fashion materials.

The BMW XM Mystique Allure is the first vehicle in the brand’s history to be designed using materials from the high fashion industry. This unusual tie-up showcases the BMW XM in a whole new light: expressive, avant-garde – and stylish and luxurious in equal measure.

Inspired by Naomi’s favourite colour, the vehicle’s exterior boasts a deeply saturated ultramarine shade, accentuated by a lustrous matte finish. A contemporary translation of high-fashion materials from luxury textile manufacturers, the design seamlessly brings the inside to the outside, featuring rich velvet and shimmering Frozen metallic sequins casting hues ranging from intense violet to deep ultramarine.

The iridescent surfaces were created with precise handcraftsmanship and a fine eye for detail. They take their cues from the eye-catching geometric forms of the BMW XM and bring a special visual richness to the car’s extrovert aesthetic. The design of the BMW XM Mystique Allure provides a meeting point for high performance and haute couture, and paints a unique picture of progressive luxury that continues into the interior. All of the surfaces inside the car, including the M Lounge in the rear, are covered in purple velvet.

BMW IconicSounds Electric: exclusive driving sound from the collaboration with Hans Zimmer.

The bold appearance of the BMW XM Mystique Allure is complemented by an acoustic character also very much its own. At its heart is a bespoke adaptation of the BMW IconicSounds Electric developed as part of the collaboration between BMW Group Sound Design and film score composer Hans Zimmer.

The driving track created for the Naomi Campbell-inspired one-off projects the supreme confidence of the car’s exterior design onto the soundscape of locally emission-free driving. In the M HYBRID drive system’s all-electric operating mode, every movement of the accelerator is accompanied by an emotionally engaging sound that authentically represents the car’s outstanding performance and magnetic visual allure.

The BMW XM: the most powerful series-produced model from BMW M GmbH.

The BMW XM is the first model since the legendary BMW M1 to be conceived solely as a standalone high-performance car from BMW M GmbH. It blends dynamic potency with innovative luxury and an enticingly extravagant design composed of muscular proportions and powerful contours. Two-piece split headlight units, Iconic Glow contour lighting for the BMW kidney grille, accent bands along the sides of the car, light-alloy wheels up to 23 inches in size and the vertically stacked and hexagonally formed pairs of exhaust tailpipes integrated into the rear apron ensure the exterior of the XM has an inimitable visual presence.

The BMW XM is also breaking new ground with its M HYBRID system, which has made the XM the first high-performance car from BMW M GmbH to feature an electrified drive system. In BMW XM Label Red form (electric power and petrol consumption – weighted, combined: 33.5 kWh/100 km and 2.0 l/100 km [141.2 mpg imp]; CO₂ emissions – weighted, combined: 45 g/km (WLTP); fuel consumption with discharged battery: 12.9 l/100 km [21.9 mpg imp] as per WLTP; CO₂ classes: with discharged battery G; weighted, combined B), the plug-in hybrid model – with its maximum output of 550 kW/748 hp – is also the most powerful series-produced, road-legal car yet produced by BMW M GmbH.

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Official fuel consumption, CO₂ emissions, electric power consumption and electric range figures were determined based on the prescribed measurement procedure in accordance with European Regulation (EC) 2007/715 in the version applicable. Where a range is shown, the WLTP figures take into account the impact of any optional extras
Only official figures based on the WLTP procedure are available for new models that have been type tested since 01.01.2021. In addition, according to EU Regulation 2022/195, the NEDC values will no longer be included in the EC certificates of conformity as of 01.01.2023. Further information on the WLTP and NEDC measurement procedures can also be found at www.bmw.de/wltp.
Further information on official fuel consumption figures and specific CO₂ emission values of new passenger cars is included in the following guideline: 'Leitfaden über den Kraftstoffverbrauch, die CO2-Emissionen and den Stromverbrauch neuer Personenkraftwagen' (Guide to the fuel economy, CO₂ emissions and electric power consumption of new passenger cars), which can be obtained free of charge from all dealerships, from Deutsche Automobil Treuhand GmbH (DAT), Hellmuth-Hirth-Str. 1. 73760 Ostfildern-Scharnhausen and at https://www.dat.de/co2.

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In the event of enquiries please contact:

Corporate Communications
Cypselus von Frankenberg, Product Communication BMW Automobiles
Telephone: +49-89-382-30641
E-mail: Cypselus.von-Frankenberg@bmw.de

Alexandra Landers, Head of Product and Brand Communication BMW
Telephone: +49-89-382-30871
E-mail: Alexandra.Landers@bmw.de

Internet: https://newsroom.bmwgroup.com/global/en
E-mail: presse@bmw.de

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

Statement Oliver Zipse, Chairman of the Board of Management of BMW AG,104th Annual General Meeting of BMW AG on 15th May 2024, Livestream from BMW Welt in Munich

Wed, 15 May 2024 10:17:00 +0200

- Check against delivery –

Strong today – Strong tomorrow.
Our BMW way into the future

Dear Shareholders!

A warm welcome from BMW Welt in Munich. A lot of people talk about the transformation of mobility and the automotive industry – how one will replace the other. At BMW, we do things a little differently. We call it: continuous progress.

Becoming a little bit better every day – that is what we aspire to. And what I, myself, am measured against. Never being satisfied with the status quo brings us closer to our ambitious goals. Step by step. Or, more fittingly, when talking about cars: mile by mile. That may sound very grounded and methodical, but it certainly yields highly effective results.

We always look to the future. That is part of BMW's vast array of experience. It gives us strength and empowers us, time and again, to take bold action: We know what we are capable of! That is why BMW is still here after 108 years.

The film showed our Board of Management – but we are only as good as our global team. Together, we bring our combined know-how to the roads – in a very literal sense. There are currently more than 150,000 of us worldwide – representing nearly every nationality there is, united by the BMW Spirit. In autumn of last year, we surveyed all our associates around the world: 85 percent said they fully support the company’s goals and strategy. And even 93 percent are proud to work for the BMW Group.

What a boost for us!

We are mobilising them all for the next massive leap, because your company is once again reinventing itself – at precisely the right time.

You, too, my dear shareholders, are part of our BMW team. Your support for our direction gives us the momentum and latitude we need to make decisions with a long-term perspective. This traces back to legendary entrepreneur Herbert Quandt. What a legacy! The next generation is carrying forward that legacy – much like we do at the company.

We always base our strategic decisions on facts and informed analysis. This certainly requires experience and, sometimes, plain common sense, as well. This makes your company robust and ensures that we remain composed in a turbulent environment. All of this comes together in the BMW way. This approach guarantees that the following always holds true for your company:

“Strong today – strong tomorrow”.

For financial year 2023: Should you approve our proposed dividend, you will receive a payout equivalent to 33.7 percent of our unappropriated profit. During the financial year, we had revised our guidance upwards. At year-end we met all our targets. We posted solid growth in sales, reaching a new all-time high of more than 2.55 million vehicles. In fact, we are the only German OEM to have regained our pre-pandemic level.

Our Group EBT margin of 11 percent came in higher than our strategic target of 10 percent. We are consistently performing at a high level, as confirmed by our EBIT margin in the Automotive Segment, which has been within our defined target range of eight to ten percent for the past nine quarters, including the first quarter of 2024.

This allows us to continue to make substantial investments.

Our capital expenditure, as well as our research and development spending, will peak this year. We will once again be making major investments – because our actions are always geared towards the future.

Individual mobility offers tremendous potential for profitable growth and gaining market share.

Today, let's take a look at how we continue to forge our BMW way –
in four chapters.

Future to the max: Turning visions into reality.
Following our own convictions: Technology openness is effective.
Global success today means acting regionally.
The car as digital companion: We are making mobility more human, more intelligent and more sustainable.

These focal points also shed light on the topics you requested through the shareholder portal.

Turning visions into reality.

This is the first topic I would like to talk about today.
What you see right here is nothing less than the future: pure BMW – taken to a whole new level. This is where all the big topics of future mobility come together: Electric. Fully digitalised. Sustainable.

For now, they are still Vision Vehicles – but they will be on the roads in a very similar form very soon. Last year, I promised you a new Vision Vehicle, which we then unveiled at the IAA MOBILITY. The BMW Vision Neue Klasse celebrated its premiere here in Munich. You’ll see right away that it’s a sporty sedan.

No other car at the IAA received as much media coverage and positive feedback – which is just one more reason to bring along another highlight for you today: The BMW Vision Neue Klasse X – a car that very clearly reimagines the BMW X philosophy in a totally new way.

Both vehicles will compete in high-volume segments – because we want our innovations to have a broad impact, not just in niche segments. Both vehicles underline that the NEUE KLASSE is consistent and broad at the same time.
Consistent – in terms of design, technology and sustainability. Broad – with respect to the other models that will follow.

These are the two bookends of the NEUE KLASSE – with lots of room in-between that we intend to exploit. And we deliver on our promises:

Within 24 months of the start of production, there will be at least six different models on the market.

Our industry has never seen speed quite like this before – but if anyone can do it, then it’s us at BMW. We are picking up the pace on a massive scale.

Our new plant in Debrecen, Hungary, will lead the way, with the launch of the first X model in late 2025. This will continue seamlessly in 2026 with the Sedan at our main plant in Munich, as well as Plant Shenyang in China. In 2027, the NEUE KLASSE will also ramp up in San Luis Potosí, Mexico.

Our customers ask: How far can I drive on electric power? How quickly can I charge my car?

We are able to tell them: at least 30 percent farther and 30 percent faster. In practice, this means that: It only takes ten minutes to charge your car for a 300-kilometre trip – hardly enough time to grab a coffee!

This is possible thanks to the new sixth-generation round cells. We are using them for the first time in the NEUE KLASSE – which means you can look forward to an even higher-level “BMW driving experience”.

What might look like a Playstation is actually four super-brains, each integrating several highly intelligent control units. This opens up new possibilities – from powertrain and driving dynamics, to automated driving, to how we interact with our cars.

The most important aspect for our customers is: What does the NEUE KLASSE feel like on the road? The Board of Management already had the chance to drive the pre-series – and, believe me, it gave us goosebumps.

The magnitude of the technological wave we are unleashing becomes even clearer when you realise:

The innovations of the NEUE KLASSE will be incorporated into all BMW models in the coming years, regardless of their drive technology. In simple terms: Soon, all BMW technology will be NEUE KLASSE. The NEUE KLASSE is set to become our innovation and technology booster for all future areas of activity, including design.

We aren’t just taking mobility to a new level; the BMW Group is also becoming a NEW company. I believe this is entirely in your interest as our shareholders.

My second topic for today reflects our belief in the effectiveness of technology openness.

The heart of the NEUE KLASSE is electric – running on its own, new architecture. If demand for electric vehicles continues to grow as forecast, we will be able to leverage corresponding economies of scale.

But the world is a big place – which is why we continue to serve all markets with premium products. With us, everyone can find the right drivetrain to suit their needs. Anything else would be unwise from a business perspective.

Using technology clusters and modules enables us to be highly flexible. Think of it like this: We can roll out innovations and technological advances across all architectures and segments, and scale them efficiently.

We don’t distinguish between “old” and “new” vehicles – instead, we deliver cutting-edge technology across all areas. And, moreover, we offer the best overall package. This is what we aspire to – and it is perhaps the underlying secret of your company’s success.

Let me give you a current example: Following on from the new BMW 5 Series Sedan, the new BMW 5 Series Touring also comes in four drive technologies. The BMW i5* is all-electric, with an impressive everyday range of over 500 kilometres.

Plug-in hybrids also remain extremely popular. For the new BMW 5 Series, the PHEV variant could account for about 20 percent of our sales in Europe.

This shows we are right on track with our ten attractive PHEV models. And of course, the new 5 Series is also well received as a highly efficient combustion engine.

Focused technology openness is not something that is achieved overnight. You know my position: Building cars is a highly complex task. New market players are realising this too.

It is a strength of your company – and I believe it is also a unique selling point: The ability to master this complexity, seamlessly, and to effectively orchestrate, scale and further develop technologies.

Our sales figures confirm this: BMW is maintaining its leading position in the global premium segment. Our strongest growth last year came from the upper premium and luxury class, as well as our all-electric models, or BEVs for short. We delivered over 375,000 BEVs to customers in 2023 – an increase of almost 75 percent over the previous year.

This dynamism is also reflected in our share of the global BEV market: At 4.1 percent, it is already significantly higher than our share of the total global market, which remains stable at 3.3 percent.

Demand for BEVs will continue to climb – although not in a linear fashion; it will be dynamic and market-specific. We reiterate this time and again – and it holds true in multiple markets.

We see e-mobility as the fastest-growing drive technology – today and in the future. By 2030, all-electric vehicles should account for about half of our deliveries. We remain committed to this goal and are steering the ramp-up in line with demand. We will stay flexible – even well into the 2030s.

We are aligning our strategic planning accordingly – and enabling our architectures. In this way, we can respond quickly at all times. More than 15 BEV models will be available this year across all BMW Group brands.

Here, you can see the MINI Aceman*.

In April, it celebrated its world premiere at AUTO CHINA. The Aceman is offered exclusively as a all-electric vehicle.

It fills the gap between the Cooper* and the Countryman*, which has now grown significantly in size. The new Cooper is already sold out – at least for the next four months. The only thing missing is the new MINI Convertible, which will be released in the second half of the year.

Together, these models form the NEW MINI Family, which is effectively the counterpart to the NEUE KLASSE at BMW: MINI's leap into the future.

And: We produce the New MINI Family worldwide: at our Spotlight joint venture in China; in Oxford, in the UK; and, for the first time, also in Germany, at Plant Leipzig.

We talked about bookends earlier. Now, with our brands, let's jump from MINI go-kart feeling to our luxury brand, Rolls-Royce. Spectre* certainly hit the ground running. What a phenomenal start!

In the first quarter of this year, this model alone accounted for 38 percent of Rolls-Royce deliveries. That is how we do e-mobility in the luxury class. Spectre glides along effortlessly, like a flying carpet. Our luxury brand's vehicles have never been as compelling and as differentiated as they are today. And let’s not forget that they also earn a significant contribution margin for the company.

BMW Motorrad is also reporting profitable growth, having celebrated its centenary in September. German Chancellor Olaf Scholz attended the anniversary celebrations at Plant Berlin-Spandau.

We shared two major milestones with him:

First, the inauguration of the new “BMW Motorrad Welt”. What BMW Welt in Munich is to cars, we now also have in Berlin for our two-wheeled vehicles. Second, the world premiere of the R 1300 GS. Many people – myself included, as a motorcycle enthusiast – have been eagerly awaiting the next-generation GS. The trade press was practically euphoric about it.

For those who prefer an electric ride in the city, BMW Motorrad’s second electric model, the CE 02, is perfect.

Our core BMW brand also has a slew of upcoming, exciting vehicles, with 14 launches and numerous model variants this year alone.

The BMW 1 Series will be released onto the market in the compact class.

And we will launch the new BMW X3 – one of our most popular models overall. The new X3 will be available with a highly-efficient combustion engine and as a plug-in hybrid variant.

We recently presented our new and future vehicles to our retailers, including 1,500 retailers from all over Europe in Amsterdam. We did the same in Las Vegas for over 1,000 dealers from the Americas region. I got the sense at both events that our retailers are genuinely excited about what is to come.

Especially for Europe, I have to stress: The retailers will remain by our side in the new sales system – that won’t change. We are already using direct sales for MINI in China and reporting positive experiences in the first European countries. We will be transitioning the BMW brand to the new direct and fully digitalized sales model in Europe from 2026, as planned.

You, our shareholders, also wanted to know:

How are we progressing with hydrogen?

Our BMW iX5 Hydrogen* is currently on a world tour, undergoing real-life testing. It is very well received, everywhere it goes. Our pilot fleet is raising awareness of hydrogen's role in the energy transition – both for mobility and across industries. You rightly expect us to meet the European Union's CO₂ requirements.

In 2023, the BMW Group significantly outperformed the CO₂ fleet limit set for us by the EU by more than 20 percent. This year, we expect to see another slight reduction, with all brands and drivetrain variants contributing.

Technology-centric, with a clear focus on e-mobility – we are always consistent in our actions: This is how we are reshaping perception of your company.

What the New York Times writes is precisely researched.

In March, the New York Times praised our drivetrain strategy as far-sighted and consistent. It described BMW as a “winner in electric vehicles” – and Tesla's only serious competitor. We can certainly live with that. People expect us to consider things carefully and come up with practical solutions – because we consistently demonstrate our ability to do so.

In part three, I’ll look at the reasons for our global success – which, now, more than ever, requires us to act regionally. If you look closely, your company stands out as one of the automotive industry's few “truly” global manufacturers.

Something like this has to grow systematically – and we have been expanding our footprint for this purpose over the decades.

Let me give you three examples:
China – our biggest single market; Europe – our most important sales region; the US – our “second home”:

First: China, where we employ about a fifth of our workforce. It is – after Germany – our second-largest R&D location. BMW enjoys a high level of trust there – and not just among our own customers. We are highly regarded as a company, because we enter into serious, long-term commitments.

This year, we are celebrating 30 years “at home in China” and more than two decades of commitment in Shenyang.

In April, we signed a new investment agreement with Liaoning Province, worth 20 billion renminbi or 2.5 billion euros. The Shenyang production site of our BBA joint venture is transforming into a BMW iFACTORY.

Also in April, I was part of German Chancellor Scholz's economic delegation to China. Shortly after that, I was in Beijing at AUTO CHINA, where Prime Minister Li Qiang visited precisely one non-Chinese manufacturer – and that was the BMW Group.
A phrase I hear a lot in China is “China speed”. This is a dynamic country – and we are picking up the pace to keep up: Just last week, our six-millionth vehicle produced in Shenyang since 2003 rolled off the assembly line. We only reached the five million mark about a year earlier. This means we turned out one million vehicles in just 15 months – that is true “China speed”.

Second: Europe.

We sell nearly a third of all our vehicles in the European Union, where we operate ten plants and maintain a broad supplier base. We all benefit from a united Europe – every single day – and should channel all our collective efforts into preserving it.

BMW maintains a global outlook. This is something the chair of the General Works Council and I have reiterated. We urge our associates to pay close attention whenever seemingly simple solutions are proposed for complicated issues.

Enjoying democracy means living democracy – and that includes participation, exercising your right to vote and raising your voice to stand up for democracy. That is why we have asked everyone to vote on June 9.

What applies to Europe, applies even more to Germany: We need the best minds – and the smartest minds think very carefully about where they want to go. That is why we support the “We stand for values” initiative.

In Germany, we have many debates about emotionally charged trigger points. There is broad consensus on meta-topics. This is how sociologist Steffen Mau describes it. His latest study comes to the conclusion: We are not a divided society.

As a result, we shouldn’t speak ill of our country and Germany as a location, but leverage our potential. I can only agree with that.

Third: the USA.

We refer to the US as our “second home”. Next year will be our 50th year in the United States.
In 2023, your company was once again one of the largest net exporters of vehicles from the US by value. Germany is the only place where we have a higher purchasing volume than the US, which currently totals 6.7 billion euros annually.

For over 25 years, we have been a local partner – particularly in South Carolina. Today, Spartanburg is our largest plant – and the whole of the surrounding region has grown with us.

China, Europe and the US: Three examples of how our local presence forges close ties with the regions and markets.

We are living proof that everyone benefits when people work together. That is also one of the reasons why your company continued to grow in all major regions of the world in 2023.

We do business around the globe – and benefit from an integrated global economy.

Now, our global world order is evolving – from a “unipolar world” to a “multi-polar world”, especially in the last 10-15 years. Authors like Carlo Masala talk about the highly integrated and largely self-sufficient economic areas now emerging. We remain committed to open markets and free trade.

I also say this with a view to the European Union's current deliberations over Chinese imports of electric cars. A 360-degree perspective would be better: 20 percent of all BEVs sold in Europe last year came from China; well over half were western brands, including BMW.

Protectionism triggers a spiral effect: Tariffs lead to new tariffs, with protectionism rather than cooperation.

My over 30 years of experience at BMW suggest that solutions come about when we reach out to one another – and when we are prepared to make compromises ourselves.

That is how we build a consensus that makes us stronger as a society and an economy and enables us to take action.

You are justified in asking how your company secures access to diversified, fragmented markets.

The answer is: by continuing to invest at local level. Also, by finding local solutions and partners for the upstream value chain.

“Local for local” is our recipe for success – and we are now applying this same principle to producing cells for the batteries needed for e-mobility.

Who has control over technological expertise and urgently needed raw materials? That is what decides the competitiveness of companies and economic areas. We locate production facilities for BMW high-voltage batteries close to our vehicle plants – in Hungary, the US and China. Just a few days ago, we laid the foundation stone for the high-voltage battery assembly in San Luis Potosí, Mexico.

The benefits for us are clear: Short transport distances and supply stability in the event of unforeseen events around the globe.

And to get really local: Have you heard of Irlbach-Straßkirchen in Lower Bavaria? It will supply Gen6 batteries for our plants in Bavaria from 2026 onwards. The process wasn’t entirely straightforward. Residents wanted to know: What are the benefits for our region? We engaged in in-depth discussions with them to build trust. Ultimately, an overwhelming majority voted in favour of the new BMW location.

As you can see: Global only works at local level – and this also applies to our supply chains.

We have learned in recent years how vulnerable and susceptible to disruption they can be. Take a guess: How many parts do you think our plants worldwide need to be supplied with every day? The answer is:
36 million. The right quantities have to be in the right place, at the right time, in the best quality.

Our digitalised “i Supply Chain” strategy ensures resilient supply chains.

Our “RiskHub” uses AI and data analytics to identify quality issues in the supplier network early. We also adopt a proactive approach to avoid supply bottlenecks.

You might already have heard of Catena-X. There’s tremendous potential here: Automotive manufacturers, suppliers and, soon, recyclers, are creating a shared data ecosystem that makes sprawling supply chains transparent and allows us to track the carbon footprint of individual components. The type, quantity and source of the raw materials installed can also be digitally documented, allowing us to “trace” them.

And we are about to embark on a pilot project: Plant Landshut produces the kidney grille for the BMW iX* – one component made of many individual components. We will be using data from Catena-X to measure the total carbon footprint of production.
Wherever we collaborate with suppliers, we do so as partners, always treating each other as equals. This is important to me.

Chapter four of my speech focuses on the car as a digital companion: We are making mobility more human, more intelligent and more sustainable.

The world of bits and bytes is highly dynamic. Digitalisation, hand in hand with artificial intelligence, is fundamentally changing how we experience mobility. The questions you submitted through the shareholder portal indicate that this interests you, too.

Intelligent, self-learning systems have long been part of our strategy for the automotive production of the future. You know this as BMW iFACTORY.

Digital added value can be experienced directly in our vehicles, but our approach here remains: Not everything that is possible also makes sense in a car.

Our Head-Up Display is a classic. 20 years ago, we brought this technology from the aeroplane into the car. Now, we are revolutionising this display concept in the NEUE KLASSE.

Take a look for yourselves: Our “BMW Panoramic Vision” uses the full width of the windscreen. Pure high-tech. But we also use digitalization to increase security. In this case, we reduce distraction while driving.

We have grown used to always getting the latest updates from our digital devices – and people expect the same from their cars. Over the air means we can update software in the vehicle at any time, without bringing it in to the workshop. We chose this route early.

Today, your company has the world’s largest fully upgrade-compatible fleet in the market. We can already reach more than 7.5 million vehicles.

The BMW 5 Series sets the standard for automated driving. It is the first car in Germany to be approved for partially automated driving at speeds up to 130 km/h on motorways.

This means you can take your hands off the steering wheel while driving. Your car can also change lanes by itself, when you briefly glance in the side mirror. Active Lane Change Assistant with eye confirmation – a somewhat unwieldy name for a genuine world first.

Since March 2024, Highway Assist has also been available in the BMW 7 Series, X5, X6, X7, iX and XM*. That's level 2+.

The new BMW 7 Series does even more:

You can even temporarily turn your attention away from the road. It fascinates me, every time the car regulates its own speed, distance and tracking. That is Level 3 highly automated driving – available in the new BMW 7 Series since March. A digital driving experience needs to ensure the safety of all road users.

That is why your company only introduces mature technical solutions onto the road– no beta versions. No experiments at the expense of our customers. You can always rely on that.

Since summer 2023, we have been testing automated driving and parking functions all the way up to Level 4 fully automated driving at our new centre for automated driving in Sokolov in the Czech Republic.

Esteemed Shareholders,

The US publication Time Magazine and the online platform “Statista” analysed and compared 750 international companies: Your company did exceptionally well to make it into the top ten and was, in fact, the highest-ranked automotive manufacturer.

Revenue growth, sustainability and employee satisfaction – many people consider these to be conflicting goals. We find a way to reconcile them.

Our markets are dynamic and the geopolitical environment uncertain. This impacts us – just like it does other companies.

You are counting on us to remain successful – and, indeed, we will! We have ambitious plans for the current financial year. We expect to see a slight increase in sales, compared to the previous year, as well as a significantly higher percentage of all-electric vehicles.

The first fourth months of 2024 show that we are on track for all key performance indicators.

As CEO of BMW, I travel the world a lot. Everywhere I go, I see not only how valuable individual mobility is for many people, but how essential it is.

My experience is also that the BMW Group is appreciated and recognised in all corners of the globe. All of this encourages us to continue forging our own BMW way.

We are able to withstand the headwinds when we have confidence in our direction – which we usually do.

Your company is part of the global community. We engage with it – and evolve in and alongside it. That is extremely important.

The BMW way is also about our capacity for resonance – a term from physics that is also used in sociology.

So, what do I mean by capacity for resonance?
I’m talking about our ability to perceive and understand our relationship with the world – in Germany and elsewhere. We pay attention to developments, absorb them – and give something back to society in return.

This is a natural process we actively participate in and control.

We remain open to all input, but never allow ourselves to be influenced without careful consideration or emotionalised by trigger points. Above all, we avoid drifting aimlessly.

We are in permanent resonance with our evolving society – consciously and for our mutual benefit. And always focused on effectiveness.

The following therefore holds true for your company:

“Strong today – strong tomorrow”.

Another compelling reason for you to continue to stand by us!

Thank you.

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

International co-creators put the BMW XM with BMW Individual special paint finishes under the spotlight at Coachella 2024.

Fri, 19 Apr 2024 10:00:00 +0200

Munich/Indio. Bursting with colour, fizzing with energy and overflowing with confidence: the exhilarating atmosphere of the Coachella Valley Music & Arts Festival in California and the spectacular landscape and architecture of the Coachella Valley provide the ideal setting in which to showcase the unique design of the BMW XM to stunning effect. With its dynamic lines, expansive surfaces, muscular proportions and sharp edges, the first electrified high-performance model from BMW M GmbH exudes presence and confidence. And the visually impactful design of the Sports Activity Vehicle gains even greater intensity with the addition of exclusive BMW Individual special paint finishes.

Colour shades including BMW Individual Urban Green, BMW Individual Petrol Mica metallic, BMW Individual Anglesey Green metallic and BMW Individual Sepia metallic give the extravagance of the BMW XM a very personal note. This visually imposing spectrum of colours – all beguiling shimmer effects and arresting deep gloss – provide a dynamic counterpoint to the spectacular desert landscape and modern take on mid-century architecture that give the Coachella Valley its inimitable aura.

Collaboration with co-creators produces emotionally engaging images with a unique aesthetic.

An international and diverse team of artists, creatives and sportspeople like Icelandic actor and former professional footballer Rúrik Gíslason, German rapper Badmómzjay and TikTok luminary Lena Mantler feed off the unique vibe and the easy glamour of the Valley to inspire each other, build multimedia content for their social media channels and frame the BMW XM in a new light. The line-up of international stars is joined by a broader circle of key opinion leaders from the worlds of music, art and sport – the likes of Jon Batiste, Yusra Mardini, Nemanja Gasic, Chase Hudson, ARTLANTA, Chris Brickley and Gashi.

2024 sees BMW and Coachella partnering up for the sixth time. Through its cultural engagement, the Bavarian premium carmaker seeks to engage with up-and-coming creatives at the cutting edge and influential key opinion leaders from various spheres, while also offering a platform for co-creators to express themselves with full authenticity. Photo and video sessions are both on the agenda at Coachella, with locations in the festival’s immediate surroundings and beyond sure to inspire some amazing work.

Located to the east of Los Angeles, the Coachella Valley is known for its scenically captivating contrast of rugged desert landscape and green oases dotted with date palms. As well as its numerous dapper cafés and bars, the character of the Valley is shaped most prominently by modern villas in an expansive bungalow style. The iconic architecture here and the proximity to unspoilt nature provide a canvas for photos and video with an incomparable aesthetic and create the perfect backdrop for a progressive vehicle like the BMW XM.

BMW XM: Poster boy for the successful combination of luxurious high performance and electrification.

With its confident use of form, extremely comfortable interior and advanced plug-in hybrid drive system, the BMW XM represents the optimal combination of luxury, high performance and electrification. Depending on the model variant, its M HYBRID system uses a powerful six-cylinder in-line engine or a punchy petrol V8. Add the adaptive M suspension Professional and M xDrive intelligent all-wheel-drive system with M Sport differential (both standard) to the mix and the BMW XM serves up potent dynamics and eye-catching figures for the 0 to 100 km/h (62 mph) sprint.

With its bold exterior design, the BMW XM also makes a big statement for individual lifestyle, the high-quality BMW Individual special paint finishes increasing the scope for personalisation further still. All BMW Individual special paint finishes are applied in a separate manufacturing process – with a higher proportion of the work carried out by hand – and benefit from an ultra-precise surface treatment. This meticulous finish ensures an impressive depth of colour and exceptional lustre.

In the event of enquiries please contact:

Corporate Communications

Cypselus von Frankenberg, Product Communication BMW Automobiles

Telephone: +49-89-382-30641

E-mail: Cypselus.von-Frankenberg@bmw.de

Alexandra Landers, Head of Product and Brand Communication BMW

Telephone: +49-89-382-30871

E-mail: Alexandra.Landers@bmw.de

Internet: https://newsroom.bmwgroup.com/global/en

E-mail: presse@bmw.de

The BMW Group

With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is the world’s leading premium manufacturer of automobiles and motorcycles and also provides premium financial and mobility services. The BMW Group production network comprises over 30 production sites worldwide; the company has a global sales network in more than 140 countries.

In 2023, the BMW Group sold over 2.55 million passenger vehicles and more than 209,000 motorcycles worldwide. The profit before tax in the financial year 2023 was € 17.1 billion on revenues amounting to € 155.5 billion. As of 31 December 2023, the BMW Group had a workforce of 154,950 employees.

The success of the BMW Group has always been based on long-term thinking and responsible action. The company set the course for the future at an early stage and consistently makes sustainability and efficient resource management central to its strategic direction, from the supply chain through production to the end of the use phase of all products.

www.bmwgroup.com

Facebook: http://www.facebook.com/BMWGroup

X: http://twitter.com/BMWGroup

YouTube: http://www.youtube.com/BMWGroupView

LinkedIn: https://www.linkedin.com/company/bmw-group/

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

Concorso d’Eleganza Villa d’Este 2024.

Tue, 09 Apr 2024 14:00:00 +0200

Munich/Cernobbio. On 24 – 26 May 2024, BMW Group Classic will host the legendary Concorso d’Eleganza Villa d’Este in cooperation with the Villa d’Este luxury hotel.

This year’s Concorso d’Eleganza Villa d’Este includes the following competition classes, in which around 50 of the most spectacular vehicles of their eras will be presented to the high-calibre Jury:

CLASS A - THE DAWN OF THE PERFORMANCE AGE
CLASS B - SHAPED BY THE WIND: THE EVOLUTION OF AERODYNAMICS
CLASS C - “THE BEST CAR IN THE WORLD” FOR 120 YEARS: ROLLS-ROYCE CELEBRATES AN HISTORIC BIRTHDAY
CLASS D - “FASTER!” THE ARMS RACE ON THE ROAD
CLASS E - THE BEST OF ITALIAN GRACE AND PACE: MASERATI AT 110
CLASS F - GENTLEMAN DRIVERS: STYLE FOR THE FORTUNATE FEW
CLASS G - TIME CAPSULES: CARS THAT THE OUTSIDE WORLD FORGOT
CLASS H - THE NEED FOR SPEED: SUPERCAR STARS OF THE VIDEO GENERATION

Awards will also be presented in a special category for spectacular concept cars from various manufacturers.

The Concorso d’Eleganza parade on the terrace of the Villa d’Este will take place in customary style on the Saturday of the event. The Best of Show will be crowned by the Jury, with the vehicle in question being presented with the Trofeo BMW Group on Sunday evening. Beyond the top prize, the participants and competing vehicles at the Concorso will each battle it out for victory in their individual categories, for the Coppa d’Oro prize awarded by Public Referendum and for an array of other distinctions such as the Trofeo del Presidente, which will be presented by Helmut Käs, Head of BMW Group Classic and President of the Concorso d’Eleganza Villa d’Este.

Speaking of awards, star tenor and BMW Group Classic brand ambassador Jonas Kaufmann will once again present the Trofeo Il Canto del Motore for the best engine sound, as chosen by the Jury.

And the guests and media representatives can also look forward to two rather special world premieres: a sporty one of a kind with a maritime twist and rock ’n’ roll on two wheels.

Art on four wheels will also be on the agenda, as the American abstract painter Julie Mehretu and the 20th BMW Art Car take a detour to Lake Como en route to its big race at the 24 Hours of Le Mans just a few weeks later. Franciscus van Meel, CEO of BMW M GmbH, will join the artist to present her creation. BMW M is traditionally represented by an array of new products around the Concorso locations.

On 4 May 2024, Rolls-Royce Motor Cars marks the 120th anniversary of the first meeting between Henry Royce and The Hon Charles Stewart Rolls. Two men of vastly contrasting backgrounds and skillsets – the engineer and the salesman – united in their mission to create 'the best car in the world'. They gave their names to a dynasty of motor cars that defined, and continue to define, superluxury motoring across the world. They transcended the confines of the automotive world, making Rolls-Royce the global exemplar of excellence in all areas. Practically every product, service, device and technology that has been invented since 1904 has aspired to be 'the Rolls-Royce of…' its industry or sector. The standard they set 120 years ago is still driving innovation and improvement everywhere - including in the company they created.

BMW Group Classic is celebrating the 25th birthday of the BMW Z8 – and the legendary roadster will feature at the Concorso in a variety of ways.

The Concorso d’Eleganza Villa d’Este Public Day – Il festival was a huge success in 2023, welcoming some 10,000 guests and securing its place on the programme again this year. On Sunday, 26 May visitors will enjoy the unique opportunity to experience the full parade of vehicles at the Concorso d’Eleganza Villa d’Este in the beautiful gardens of Villa Erba. The festival day will also serve up an impressive blend of culture, music and automotive attractions for the whole family: from the cross-brand special exhibition “Motorsport Icons” – including the presentation of all the BMW Art Cars that have competed in the 24 Hours of Le Mans to date – to a host of present-day automotive highlights and technical innovations from the BMW Group. In an artist talk with Senior Vice President BMW Group Design Adrian van Hooydonk, Julie Mehretu will give an insight into the collaboration for the 20th BMW Art Car. BMW Group Classic brand ambassadors HRH Prince Leopold of Bavaria (GER) and Bruno Spengler (CAN) will be available to take selfies with fans and sign autographs.

On Saturday, 25 May the Amici & Automobili – Wheels & Weisswürscht event will take place for the third time in the grounds of Villa Erba. Each year since 2022, around 150 captivating vehicles from across the brand spectrum have come together for this community occasion. In 2023, a total of 6,000 visitors enjoyed the relaxed get-together over a traditional Munich Weisswurst sausage.

Before the Concorso d’Eleganza Villa d’Este itself gets underway, the now traditional Prelude Tour will take centre stage once again. Late in the afternoon on 23 May, the historic cars will arrive at Cernobbio’s harbour, where they will be presented to the public.

“The Concorso d’Eleganza Villa d’Este will lay on a truly spectacular spread of events again this year,” says Helmut Käs, Head of BMW Group Classic. “We will showcase the magic and allure of mobility in all its variety – and in the process connect the automotive world’s iconic past with its present and future. It is important to us that there is something here for everyone.”

"The Concorso d’Eleganza Villa d’Este stands as a distinguished and esteemed affair, one we hold in high regard as hosts” says Davide Bertilaccio, CEO of Villa d’Este Group. It epitomizes a harmonious blend of legacy, reverence, and enduring grace, qualities for which we have long been esteemed. This event promises to be an extraordinary tribute to the automotive craftsmanship of yesteryears, finding its perfect setting within the storied grounds of Villa d'Este. We take pride in reaffirming our enduring collaboration with BMW Group Classic and in championing this latest iteration of excellence."

The winner of the Trofeo BMW Group - Best of Show will be the recipient of a special timepiece from A. Lange & Söhne: the unique 1815 CHRONOGRAPH in 18-carat white gold with solid pink gold dial and hand-engraved Concorso d’Eleganza Villa d’Este crest on the hinged cuvette. Through its partnership with the Concorso d'Eleganza Villa d’Este, which began in 2012, the German watchmaker focuses on the historic links between motor sport and timekeeping. The partnership is also shaped by a shared commitment to tradition, handcraftsmanship and mechanical innovation.

The organisers would once again like to thank long-standing partners A. Lange & Söhne, Vranken Pommery and wwwe GmbH.

The Concorso d’Eleganza Villa d’Este on Saturday, 25 May is already sold out.
Tickets for Amici & Automobili – Wheels & Weisswürscht (25 May, Villa Erba) and the Concorso d’Eleganza Villa d’Este Public Day – Il festival (26 May, Villa Erba) can be ordered here:
https://www.ticketone.it/en/artist/concorso-eleganza/

Keep up to speed via the following channels:
Concorso d’Eleganza Villa d’Este App for iOS and Android

Concorso d’Eleganza Villa d’Este website: https://www.concorsodeleganzavilladeste.com/
Instagram: https://www.instagram.com/concorsodeleganza_vde/

BMW Group Classic Media Server for downloads:
https://www.bmwgroupclassic-downloads.com/Events

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

Strong today, strong tomorrow: BMW Group maintains course for successful future, building on strong 2023.

Thu, 21 Mar 2024 07:31:00 +0100

Munich. Strong products, strong demand, strong results: Following a successful 2023, in which the Automotive Segment reported its highest-ever operating result, the BMW Group aims to continue on its profitable growth course in the current financial year. Fully-electric vehicles (BEVs) and models from the upper premium segment should remain the main growth drivers again in 2024 – including the BMW 7 Series models, the BMW X7 and the Rolls-Royce model family, with the fully-electric Rolls-Royce Spectre*.

In both segments, the BMW Group expects to see significant double-digit growth in the current financial year. In addition, the BMW 5 Series models, including the BMW i5*, which will also be available for the first time as a fully-electric Touring model this year, plus vehicles from BMW M GmbH, will contribute as well.

Overall, the BMW Group expects to see a slight increase in deliveries in the Automotive Segment in 2024.

“The more challenging the framework conditions become, the more important it is to implement a consistent strategy. As a result, strong products and a high degree of responsiveness will remain our key success factors in 2024. This will continue to make us a reliable partner for customers, investors and stakeholders in the future,” said Oliver Zipse, Chairman of the Board of Management of BMW AG, on Thursday.

R&D spending and capital expenditure to peak in 2024, as planned

The company will maintain its strategic course, as planned, in 2024, with extensive investment in its plants, its range of premium vehicles and innovative technologies. This is seen in the construction of the plant in Debrecen (Hungary) and high-voltage battery assembly facilities in Shenyang (China), Woodruff (USA), San Luis Potosì (Mexico) and Irlbach-Straßkirchen (Lower Bavaria). With extensive expansion at Plant Munich and electrification of the MINI plant in Oxford, capital expenditure is set to peak in 2024. Digitalisation of the company and its products also necessitate higher spending.

In addition to capital expenditure, R&D spending will also reach a new high this year. This will mainly be focused on electrification of the vehicle portfolio, including the products of the NEUE KLASSE, as well as in-car digital innovations, such as connectivity, software stacks and automated driving.

“We are investing in the future of our company like never before. Construction and modernisation of our plants and the planned expansion of our portfolio are progressing quickly this year. Our capital expenditure and R&D spending will reach new levels. We are expecting a capex ratio above 6% and an R&D ratio above 5%. Both metrics will then return to their usual strategic range. Despite these major investments in our future, we are targeting a free cash flow of over six billion euros in the Automotive Segment in 2024. This speaks to the financial strength of the BMW Group,” said Walter Mertl, member of the Board of Management responsible for Finance. “We continue to focus on cost discipline and sustainable profitability – the long-term target range of 8-10% for EBIT margin in the Automotive Segment remains our benchmark.”

The company is also aiming to achieve an Automotive EBIT margin of 8-10% for the current financial year. This includes the continued dampening effect of depreciation and amortisation for BBA assets from the purchase price allocation.

Compelling products – BEV offering as main growth driver

In 2023, the BMW Group significantly increased (+74.2%) its sales of fully-electric vehicles to over 375,000 units, clearly underlining its role as an e-mobility pioneer. The company thus delivered significantly more fully-electric vehicles to customers than its direct European competitors and also significantly more than most of the new-entry players from Asia and the US.

This success is built on the strong product substance of these vehicles, as confirmed by numerous studies. For example, in February, renowned US consumer portal Consumer Reports named BMW “best brand” for the second consecutive year. The platform compared 34 automotive manufacturers and ranked them on the basis of road test scores, reliability, customer satisfaction and safety criteria. All 12 BMW models examined received a clear “buy” recommendation – as did the two MINI models tested, which also earned the brand one of the top positions.

Another double win came in a study conducted by US market research company J.D. Power, which looked at customers’ experience with electric vehicles: The overall winner was the BMW i4*, while the best model in the lower price segment was the MINI Cooper SE*.

With the fully-electric BMW i5, which will also be released onto the market this year as the first fully-electric Touring model, and the New MINI Family, the BMW Group will have a BEV option in virtually all its main segments. There will be more than 15 fully-electric models across all BMW Group brands on the market in 2024.

Combined with the growing efficiency of internal combustion engines, the BMW Group has substantially lowered its fleet-wide CO₂ emissions, specifically in Europe: Based on preliminary figures, EU fleet emissions were reduced to 102.1 g CO₂/km in 2023. The BMW Group thus outperformed its required fleet target of 128.5 g CO₂/ km by more than 20%. A further reduction is expected in 2024.

Diverse product range guarantees growth

The diversity of the BMW Group’s product range has proven to be a guarantee of growth at the start of 2024: In the first two months of the year, the BMW Group was able to increase its sales of fully-electric vehicles by a significant double-digit percentage, compared to the same period of last year. Growth was disproportionately strong in the US, where the company's BEV sales almost doubled in the year to the end of February. In Europe and China, deliveries of fully-electric models also posted significant double-digit growth.

At the same time, deliveries of vehicles with highly efficient combustion engines also rose in the year to the end of February. Strong customer demand for BMW Group models, regardless of the drive technology, combined with the high level of flexibility and responsiveness in the value chain, are important building blocks for the success of the company.

Vehicles with plug-in hybrid technology (PHEVs) also remain an essential component of the BMW brand's electrification strategy. Despite strong BEV growth, especially in Europe, demand for these models should remain stable this year. This technology is also making a valuable contribution to further CO₂ reductions and plays a part in introducing customers to e-mobility. Company-wide, over 560,000 electrified units (BEVs + PHEVs) were already delivered to customers in 2023. This is equivalent to 22% of total BMW Group sales.

The strong popularity of PHEV models has also helped the BMW Group already surpass the total of more than two million electrified vehicles (BEVs + PHEVs) to customers. Around 55% of these vehicles were PHEVs and about 45% BEV models. However, sales of fully-electric vehicles have risen much faster in recent years than PHEV models.

MINI and Rolls-Royce to become electric-only brands

The MINI and Rolls-Royce brands are well on their way to a fully-electric future from the early 2030s onwards. A glimpse of this is already provided by the New MINI Family and Rolls-Royce Spectre, with the first units already delivered to customers. New orders for Rolls-Royce Spectre already extend into 2025. Production of the new MINI Countryman* has now also ramped up for the first time at BMW Group Plant Leipzig, where it will be built as a fully-electric model and with a highly efficient internal combustion engine.

With this extensive range of electric models, the BMW Group expects to maintain its consistent growth trajectory in the years to come. In the second half of the decade, the NEUE KLASSE, with its impressive product substance, has the potential to further accelerate the market penetration of e-mobility. Depending on prevailing market conditions in the second half of the decade, development of raw material prices and availability, and the pace at which a comprehensive charging infrastructure is created, more than 50% of all BMW Group vehicles delivered worldwide could have a fully-electric drive train before 2030. If PHEV models are included, this percentage is correspondingly higher.

NEUE KLASSE in the starting blocks: BMW Vision Neue Klasse X underlines breadth of future BMW model line-up – new level of driving pleasure

Just one year before production of the NEUE KLASSE gets underway, a new Vision Vehicle previews the BMW Group’s future fully-electric SAV segment: The BMW Vision Neue Klasse X brings the philosophy and technology of the NEUE KLASSE to the Sports Activity Vehicle sector, a segment that has accounted for a growing percentage of BMW Group sales in recent years. In 2023, one out of every two BMW vehicles delivered to customers was an X model. “Together with the BMW Vision Neue Klasse, the BMW Vision Neue Klasse X showcases the breadth of our future BMW model line-up. From sporty sedan, with all its derivatives, to modern SAV family: The NEUE KLASSE reflects the variety of models that customers want today and in the future,” said Zipse. “In this way, we are underlining that the NEUE KLASSE is much more than just a car or a specific concept; it is redefining the BMW brand – and, at the same time, will be more BMW than ever.”

The BMW Vision Neue Klasse X also demonstrates how the three main characteristics of the NEUE KLASSE – electric, digital and circular – can be expanded to include a fourth dimension: The driving pleasure that forms the core of the BMW brand is taken to the next level with drive and chassis control developed specially for the NEUE KLASSE and with the sixth generation of BMW eDrive technology. The aim is for the NEUE KLASSE to offer “BMW driving pleasure” at an even higher level.

In the BMW vehicle of the future, this will be ensured by two of the four completely new highly integrated electronic control units, working smartly together on what was previously processed separately. The first control unit integrates the entire powertrain and driving dynamics, with up to ten times more computing power, based on a new software stack developed in-house by the BMW Group. The second control unit will enable the next quantum leap in automated driving. More detailed information on the other two highly integrated electronic control units – one in charge of connectivity and infotainment functionality, the other clustering more than 100 core vehicle functions, from the digital car key, to energy supply, to wire harness communications – will be provided at a later date.

In addition to further improved e-drive units, this sixth generation of BMW eDrive technology also features new, now round, lithium-ion battery cells, with a volumetric energy density over 20% higher than that of the prismatic cells previously used. In combination with the transition to an 800-volt system, this will improve charging speed by up to 30% – allowing vehicles to charge sufficiently for a 300-kilometre range in just ten minutes. The sixth generation of BMW eDrive also delivers up to 30% more range. At the same time, this new technology generation should significantly reduce costs: Compared to today’s Gen5 technology with a comparable range, the cost of the electric Gen6 system, i.e. the high-voltage battery with powertrain, should be 40-50% lower.

When it comes to aerodynamics, the BMW Vision Neue Klasse X boasts an impressive new top figure: Drag has been reduced by 20%, compared to a comparable model in the current line-up. New tyre designs and a special brake system for fully-electric vehicles help boost the vehicle's overall efficiency by up to 25%.

New generation of BMW iDrive takes user interaction to next level

The BMW Group already presented its vision of the future digital experience, both inside and outside the vehicle, with BMW i Vision Dee, at the CES in Las Vegas in 2023. The new BMW iDrive, now showcased in the BMW Vision Neue Klasse X, is based on a highly integrated software architecture and relies on the next-generation BMW Operating System.

In this vehicle, BMW Panoramic Vision projects key information across the full width of the windscreen. This will be complemented in the NEUE KLASSE by the enhanced BMW 3D Head-Up Display. In combination with a newly developed steering wheel with multifunction buttons, the new Central Display and the advanced voice control of the BMW Intelligent Personal Assistant, BMW iDrive takes interaction between the driver and their vehicle to a whole new level.

Technology clusters: Latest innovations – regardless of powertrain

However, going forward, all these innovations and technological advances are not just designed to benefit the models of the NEUE KLASSE, but the whole BMW product line-up. The basis for this is the modular principle the BMW Group has established in its technology clusters. These technology clusters, covering the areas digital, drive train, driving exterior and interior, can be used across segments for most of our product line-up. They are scalable, can be used on all architectures and can thus be modified for different vehicle concepts and segments.

“Our technology clusters give us important leverage for fast and efficient scaling of innovations and technological advances. In this way, we are able to ensure that we offer our customers the latest technology – regardless of the segment and the vehicle’s powertrain,” said Zipse.

NEUE KLASSE test drives now underway

These innovations will be making their debut in the NEUE KLASSE very soon. The first vehicles are currently completing test drives under extreme conditions. Series production will then ramp up in the second half of 2025 at the high-volume core of the BMW brand, with a Sports Activity Vehicle that is previewed in the BMW Vision Neue Klasse X. This will be followed by a sedan in the current 3 Series segment, which the BMW Vision Neue Klasse provided an initial glimpse of at the IAA MOBILITY. We intend to launch a total of at least six NEUE KLASSE models across the BMW Group’s global production network within the first 24 months of the start of production.

The NEUE KLASSE will be launched in 2025 at the new BMW Group Plant Debrecen (Hungary), which will exclusively produce vehicles for the NEUE KLASSE. From 2026 onwards, NEUE KLASSE models will also be built at the more than 100-year-old main plant in Munich, which is currently completing the necessary preparations to transition to BEV-only production from 2027. In the same year, series production of the NEUE KLASSE will begin at Plant San Luis Potosí (Mexico), while the production site in Shenyang (China) is also gearing up for production of the NEUE KLASSE.

Hydrogen fuel cell as further pillar of drive technology

The BMW Group still assumes that not all markets worldwide will have the necessary framework conditions for all customers to transition to pure electromobility in the coming decade. Consequently, a range of products with highly efficient conventional drive technology will still be needed to meet people’s individual mobility requirements, while contributing to CO₂ reduction in the transport sector.

Hydrogen fuel cell technology is also expected to account for a growing percentage of the drivetrain mix from the second half of the decade onwards. The BMW Group is systematically pushing forward with development of this technology as an additional option for sustainable individual mobility and – depending on market requirements and how conditions develop – could envision a potential production vehicle in the second half of the decade. A pilot series of the BMW iX5 Hydrogen* was presented to media from around the world for the first time in 2023. Since then, the fleet has been deployed with great success for demonstration and testing purposes among various target groups.

With its high-performance fuel cell and optimised power battery, the drive system in the BMW iX5 Hydrogen is unique worldwide. The gaseous hydrogen needed to supply the fuel cell is stored in two 700-bar tanks made of carbon-fibre reinforced plastic (CFRP). Together, they hold six kilograms of hydrogen, which gives the BMW iX5 Hydrogen a range of 504 kilometres in the WLTP cycle. Refilling the hydrogen tanks only takes three to four minutes – so, with just a few, short stops, the BMW iX5 Hydrogen is still able to ensure typical BMW driving pleasure, even over long distances.

Sustainability built into strategy

In 2021, the BMW Group became the first German automotive manufacturer to join the Business Ambition for 1.5° C campaign launched by the Science Based Targets initiative and therefore committed to the goal of complete climate neutrality throughout the entire value chain by 2050 at the latest.

To take into account all aspects of holistic sustainability, the BMW Group is leveraging its “secondary first” approach to gradually increase the percentage of recycled and reusable materials used in the vehicles of the NEUE KLASSE. Back in 2021, the BMW i Vision Circular already provided a glimpse of what individual, sustainable, luxurious mobility in the urban environment could look like in 2040: built from secondary material and renewable raw materials – and completely recyclable.

BMW meets all business objectives for 2023, as forecast

In financial year 2023, the BMW Group achieved its business objectives, as forecast. With a total of 2,554,183 premium vehicles delivered to customers (+6.4%), this represented a solid increase. Group revenues for the full year rose to € 155,498 million (+9.0%). In addition to the full consolidation of BBA, revenues were primarily driven by higher sales volumes and positive product mix effects. Earnings before financial result (EBIT) climbed to € 18,482 million (+32.0%).

The pre-tax earnings of € 17,096 million reflect a corresponding base effect: In the prior year, the revaluation of previously held shares in BBA of € 7.7 billion had significantly increased the BMW Group's financial result and Group earnings. In the absence of this effect, pre-tax earnings (-27.3%) and Group net profit (-34.5%) for 2023 were significantly lower than the previous year. Without the one-time revaluation effect referred to, Group net profit for 2023 would have been solidly higher year-on-year.

In the Automotive Segment, earnings before financial result (EBIT) increased significantly to € 12,981 million (+22.1%). Tailwinds came from the full consolidation of BBA, as well as sales growth and an improved product mix. This was offset by headwinds from research and development spending, as well as higher material costs. The EBIT margin for this period was 9.8% (2022: 8.6%). Excluding depreciation and amortisation for BBA assets from the purchase price allocation of € 1.4 billion previously referred to, the EBIT margin was 10.8%.

Thanks to this positive earnings development,the segment’s free cash flow totalled € 6,942 million at the end of December (2022: € 11,071 million/-37.3%), despite higher capital expenditure. The previous year included the positive one-time effect of € 5 billion from the full consolidation of BMW Brilliance.

The BMW Group's capital expenditure amounted to € 8,836 million (+8.5%) in 2023. Substantial expenditure was channelled into the electrification and autonomous driving modules, setting up high-voltage battery production in various markets and plant construction in Debrecen, Hungary.

Group research and development expenses totalled € 7,538 million (+13.8%). In addition to development expenses for the future models of the NEUE KLASSE, R&D spending was primarily focused on further electrification and digitalisation of the vehicle portfolio and automated driving.

Dividend of € 6.00 proposed – profit-sharing bonus for employees

The BMW Group’s high profitability is confirmed by the key figure “earnings per share” (EPS) which was € 17.67 for 2023. The high figure for the previous year of € 27.31 per share reflects the one-time effect from the revaluation of previously held BBA shares in the amount of € 7.7 billion. Without this effect, the figure for 2022 would have been € 15.66 per share, therefore the EPS in 2023 would reflect a significant increase of 12.8%.

The BMW Group reliably shares its success with its shareholders, with a payout ratio within the usual range of 30-40% for financial year 2023. The Board of Management and Supervisory Board will propose a dividend of € 6.00 per share of common stock (2022: € 8.50) and € 6.02 per share of preferred stock (2022: € 8.52) to the Annual General Meeting on 15 May. This represents a preliminary payout ratio of 33.7% (2022: 30.6%).

In keeping with the principle of performance and reward, employees in Germany will also share in the success of the company in an appropriate manner. For example, a skilled worker will receive € 8,400 for financial year 2023 (based on the salary group ERA 5 based on the Metal and Electronical Industry Bavaria), as well as another component for their pension plan.

Outlook for 2024: BMW Group expects profitable growth

In the Automotive Segment, owing to a slight increase in demand, full availability of new models and the upcoming model launches, deliveries of BMW, MINI and Rolls-Royce vehicles are projected to be slightly higher than the previous year. Fully-electric vehicles’ share of deliveries is forecast to increase significantly, compared to 2023. The EBIT margin in the Automotive Segment should be within the range of 8-10% in 2024.

A slight reduction in the CO₂ emissions of the EU new car fleet is to be expected, thanks to further improvement in vehicle fuel consumption and the rising number of vehicles with an electric drivetrain. The company therefore also expects its numbers to once again be significantly lower than the official targets in the EU.

The stable demand situation is also reflected in the Motorcycles Segment. Combined with full availability of models, including the BMW R 1300 GS, slightly higher deliveries are also expected in this segment. The EBIT margin is projected to be within the target range of 8-10%.

In the Financial Services Segment, RoE is forecast to be between 14-17%. As expected, supply and demand continues to normalise in the used car markets. It is therefore expected that revenues from remarketing lease returns will decrease further as compared to 2023.

Also due to this trend, Group earnings before tax will decrease slightly. Since the BMW Group continues to be a leader among its competitors in digitalisation and electrification of the vehicle fleet and intends to expand this position further, R&D spending and capital expenditure for future projects will peak in the Automotive Segment in 2024. The production network will also be further expanded in 2024 in connection with the NEUE KLASSE.

The above targets will be achieved with slightly higher employee numbers. The percentage of women in management positions at the BMW Group is also forecast to increase slightly.

Growing uncertainty around macroeconomic and geopolitical conditions could cause economic performance in some regions to deviate from the expected trends and developments. This concerns trade and customs policy, security policy and possible intensification of international trade disputes. The war in Ukraine and potential implications for the BMW Group’s business performance are also being closely monitored. The applicable restrictions, due to sanctions, have already been factored into the company’s guidance.

* * *

The BMW Group – an overview: Full year 2023		2023	2022	Change in %
Deliveries to customers
Automotive¹	units	2,554,183	2,399,632	6.4
BMW	units	2,252,793	2,100,689	7.2
MINI	units	295,358	292,922	0.8
Rolls-Royce	units	6,032	6,021	0.2
Motorcycles	units	209,066	202,895	3.0

Employees (as of 31 Dec. 2023)		154,950	149,475	3.7
EBIT margin Automotive Segment	percent	9.8%	8.6%	14.1
EBIT margin Motorcycles Segment	percent	8.1%	8.1%	-
EBT margin BMW Group²	percent	11.0%	16.5%	-33.3

Revenues	€ million	155,498	142,610	9.0
Automotive	€ million	132,277	123,602	7.0
Motorcycles	€ million	3,214	3,176	1.2
Financial Services	€ million	36,227	35,122	3.1
Other Entities	€ million	11	8	37.5
Eliminations	€ million	-16,231	-19,298	15.9

Profit before financial result (EBIT)	€ million	18,482	13,999	32.0
Automotive	€ million	12,981	10,635	22.1
Motorcycles	€ million	259	257	0.8
Financial Services	€ million	3,055	3,163	-3.4
Other Entities	€ million	-13	-203	93.6
Eliminations	€ million	2,200	147	-

Profit before tax (EBT)	€ million	17,096	23,509	-27.3
Automotive	€ million	12,642	18,918	-33.2
Motorcycles	€ million	258	269	-4.1
Financial Services	€ million	2,962	3,205	-7.6
Other Entities	€ million	-100	995	-
Eliminations	€ million	1,334	122	-

Group income taxes	€ million	-4,931	-4,927	0.1
Net profit	€ million	12,165	18,582	-34.5
Earnings per share of common stock	€	17.67	27.31	-35.3
Earnings per share of preferred stock³	€	17.69	27.33	-35.3
¹Deliveries include the joint venture BMW Brilliance Automotive Ltd., Shenyang.
²Ratio of Group earnings before taxes to Group revenues.
³ Common/preferred shares. Earnings per share of preferred stock are calculated by distributing the earnings required to cover the additional dividend of € 0.02 per preferred share proportionally over the quarters of the corresponding financial year.

The BMW Group – an overview: Q4 2023		Q4 2023	Q4 2022	Change in %
Deliveries to customers
Automotive¹	units	717,620	651,794	10.1
BMW	units	631,526	566,823	11.4
MINI	units	84,616	83,651	1.2
Rolls-Royce	units	1,477	1,320	11.9
Motorcycles	units	44,349	43,562	1.8

Employees (as of 31 Dec. 2023)		154,950	149,475	3.7
EBIT margin Automotive Segment	percent	8.5%	8.5%	-
EBIT margin Motorcycles Segment	percent	-7.6%	-9.4%	-19.0
EBT margin BMW Group²	percent	8.6%	8.2%	4.1

Revenues	€ million	42,968	39,522	8.7
Automotive	€ million	37,283	34,571	7.8
Motorcycles	€ million	643	691	-6.9
Financial Services	€ million	9,504	9,086	4.6
Other Entities	€ million	2	2	-
Eliminations	€ million	-4,464	-4,828	7.5

Profit before financial result (EBIT)	€ million	4,412	3,500	26.1
Automotive	€ million	3,171	2,932	8.2
Motorcycles	€ million	-49	-65	24.6
Financial Services	€ million	606	536	13.1
Other Entities	€ million	0	-16	-
Eliminations	€ million	684	113	-

Profit before tax (EBT)	€ million	3,682	3,253	13.2
Automotive	€ million	3,031	3,009	0.7
Motorcycles	€ million	-53	-57	7.0
Financial Services	€ million	511	533	-4.1
Other Entities	€ million	-212	-263	19.4
Eliminations	€ million	405	31	-

Group income taxes	€ million	-1,068	-1,078	0.9
Net profit	€ million	2,614	2,175	20.2
Earnings per share of common stock	€	3.77	3.43	9.9
Earnings per share of preferred stock³	€	3.78	3.44	9.9
¹Deliveries include the joint venture BMW Brilliance Automotive Ltd., Shenyang
²Ratio of Group earnings before taxes to Group revenues.
³ Common/preferred shares. Earnings per share of preferred stock are calculated by distributing the earnings required to cover the additional dividend of € 0.02 per preferred share proportionally over the quarters of the corresponding financial year.

GLOSSARY – explanatory comments on key performance indicators

Deliveries to customers
A new or used vehicle is recorded as a delivery once it is handed over to the end user (which also includes leaseholders under lease contracts with BMW Financial Services). In the US and Canada, end users also include (1) dealers when they designate a vehicle as a service loaner or demonstrator vehicle and (2) dealers and other third parties when they purchase a company vehicle at auction and dealers when they purchase company vehicles directly from the BMW Group. Deliveries may be made by BMW AG, one of its international subsidiaries, a BMW Group retail outlet, or independent third-party dealers. The vast majority of deliveries – and hence the reporting of deliveries to the BMW Group – is made by independent third-party dealers. Retail vehicle deliveries during a given reporting period do not correlate directly to the revenues that the BMW Group recognises in respect of that particular reporting period.

EBIT

Profit before financial result. Profit before financial result comprises revenues less cost of sales, less selling and administrative expenses and plus/minus net other operating income and expenses.

EBIT margin

Profit/loss before financial result as a percentage of revenues.

EBT

EBIT plus financial result.

Payout ratio

The payout ratio is preliminary. Although the Management Board and Supervisory Board are proposing a fixed dividend per share to the general meeting, the number of dividend-entitled shares is expected to fall even further as a result of the ongoing share buy-back program between now and the Annual General Meeting. Accordingly, the total amount paid out to shareholders until May 15 presumably will also change.

PHEV

Plug-in-hybrid electric vehicle.

If you have any questions, please contact:

BMW Group Corporate Communications

Max-Morten Borgmann, Communications BMW Group

Telephone: +49 89 382-24118

Email: max-morten.borgmann@bmwgroup.com

Eckhard Wannieck, Head of Communications BMW Group, Finance, Sales

Telephone: +49 89 382-24544

Email: eckhard.wannieck@bmwgroup.com

Media website: https://newsroom.bmwgroup.com/global/en

Email: presse@bmwgroup.com

The BMW Group

With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is the world’s leading premium manufacturer of automobiles and motorcycles and also provides premium financial and mobility services. The BMW Group production network comprises over 30 production sites worldwide; the company has a global sales network in more than 140 countries.

www.bmwgroup.com

Facebook: http://www.facebook.com/BMWGroup

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Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

Leipzig loves MINI: BMW Group Plant Leipzig celebrates production launch of MINI Countryman

Fri, 10 Nov 2023 12:30:00 +0100

Leipzig. The production launch of the MINI Countryman marks a number of debuts and milestones: as the first MINI model to be made in Germany, the new MINI Countryman will roll off one and the same manufacturing line as the BMW 1 Series and 2 Series. Thanks to its flexible assembly structures, Plant Leipzig is in a position to produce two brands with three different drives – combustion, plug-in-hybrid and fully electric – all on the same production line.

Big Love is the motto of not just the MINI brand but also of the plant: Leipzig loves MINI and MINI loves Leipzig. Celebrating the production launch of the MINI Countryman today at a special event in the assembly hall were the BMW AG Board Member for Production, Milan Nedeljković; the Minister President of the state of Saxony, Michael Kretschmer; the head of the MINI brand, Stefanie Wurst; Mayor and Alderman for Business, Work and Digital Affairs, Clemens Schülke; various guests from politics and the media, and plant employees. To make sure everyone in the plant could experience the live broadcast of the celebration, the production lines stood still for almost 45 minutes.

Production of the largest MINI model to date marks an important step into the future of BMW Group Plant Leipzig. Since 2018 the company has invested some €700 million in the Saxony site to increase capacity and enable production of the MINI Countryman. In addition, this third generation of the vehicle will also be available with a fully electric drive. “Leipzig remains electrified,” said Plant Director Petra Peterhänsel.

“When it comes to the transformation,” Nedeljković emphasised, “skill and flexibility are crucial.” He added that the BMW Group had been quick to introduce and advance change: “Plant Leipzig plays a fundamental role in this regard. It was here that we launched production of the BMW i3 exactly ten years ago. We have since built on that, rolling the latest generation of electric cars out across our network.”

Nedeljković explained that all BMW Group plants are set up to produce different models with different drives – from combustion-powered to plug-in hybrid and fully electric – all on a single production line. But what’s special about Plant Leipzig, he added, is that its flexible production system is now being used for multiple brands for the very first time.

Michael Kretschmer, Minister President of Saxony, emphasised the importance of the BMW Group plant in Leipzig for the region and the federal state: “The BMW site in Leipzig is a success story of modern industrial production. Continued investments in the site and the launch of the MINI Countryman reaffirm the company’s commitment to ‘Autoland’ Saxony – and provide a boost for the entire regional economy, benefiting service providers and suppliers across the area.”

Clemens Schülke, Mayor and Alderman for Business, Work and Digital Affairs of the city of Leipzig was visibly pleased about the ‘new Leipziger’: “In my view, BMW Leipzig is an absolute success story. That’s why I am really looking forward to the next chapter: the first German MINI will be a genuine ‘Leipziger’. This model demonstrates the power and flexibility of our strong automotive cluster.”

Stefanie Wurst, head of MINI, detailed the characteristics of the new MINI Countryman: “The first MINI made in Germany stands for superior environmental credentials, not just as a product but equally in terms of its production. Its versatility and powerful, efficient drives make it the perfect companion for the city – but also for adventures beyond.”

Plant Director Petra Peterhänsel emphasised the importance of the MINI Countryman for the future of Plant Leipzig: “Today is a historical day for our site. As the plant develops and production of the MINI Countryman gets underway, our headcount will increase by over 1,000 by the end of 2024.”

“Today, we can see once again just how important our plant here in Leipzig is for the production network as a whole,” pointed out Works Council Chairman Jens Köhler as he thanked the BMW Group for their trust.

Hosting the event was the radio and television presenter Roman Knoblauch. But in addition to the MINI Countryman in Smokey Green with a contrast roof in Energy Silver, there was a secret star of the show: Spike, MINI’s digital friend. As the Intelligent Personal Assistant, Spike will support drivers of the new MINI model family and make the cars even more fun to use.

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

“Eight times five is 50”: Plant Dingolfing celebrates start of BMW i5 production during anniversary year

Fri, 21 Jul 2023 15:00:00 +0200

Dingolfing. The new BMW 5 Series, including the all-new fully-electric BMW i5, celebrated the official start of production today at BMW Group Plant Dingolfing, in the presence of Bavarian Minister-President Markus Söder. The site in Lower Bavaria, which is celebrating 50 years of BMW automotive production in 2023, has now ramped up its third fully-electric model in two years, following the BMW iX and BMW i7. Pure battery-electric vehicles’ share of total production at the BMW Group’s largest European manufacturing location is projected to increase to over 40 percent next year.

Milan Nedeljković, member of the Board of Management of BMW AG responsible for Production, explained in Dingolfing today: “The BMW i5 and our plant in Dingolfing are perfect examples of how the BMW Group is transforming itself for e-mobility and developing our plants on the road to the BMW iFACTORY. E-mobility is the new normal at our plants worldwide. Between 2021 and 2024, we will have integrated a total of 15 fully-electric vehicles into our production network.”

To achieve this, the BMW Group is relying on flexible architectures and offering most of its models to customers around the world with different drive train variants. The BMW 5 Series – like the BMW 7 Series and BMW X1 before it – will be available with a fully-electric drive train or internal combustion engine, or as a plug-in hybrid. This requires a high degree of flexibility, but allows the company to utilise its plants’ capacity efficiently and adjust its offering to customer demand. Nedeljković: “We are following the market. Customer requirements determine what the actual drive train mix looks like.” This has been made possible by extensive investments in the production network. The BMW Group has invested more than one billion euros in integrating the BMW iX, BMW 7 Series and BMW 5 Series at the Dingolfing vehicle plant.

As Dingolfing's core model, BMW 5 Series injects new impetus

Over the next few years, Plant Director Christoph Schröder expects the launch of the new BMW 5 Series to boost the plant’s production numbers: “The BMW 5 Series has traditionally been Dingolfing’s core model and will provide valuable impetus for volumes again this time.” In 2022, more than 280,000 vehicles came off the assembly line at Plant Dingolfing. Over the coming year, with the start of production for the BMW 5 Series Touring and the eighth-generation BMW M5 models, Schröder expects that number to climb to well over 300,000 vehicles. Stefan Danner, Deputy Chairman of the Dingolfing Works Council, adds: “Along with the successful transition to e-mobility, the BMW 5 Series is central to long-term capacity utilisation at our plant, as well as securing jobs.”

50 years of BMW cars from Dingolfing

Of the roughly 12 million BMW vehicles built at the location to date, a total of eight million, i.e. two thirds, are BMW 5 Series models. This is closely tied to the history of Plant Dingolfing. Exactly 50 years ago, back in September 1973, the very first BMW car rolled off the production line at the new vehicle plant – a first-generation tangerine-coloured BMW 520i. Since then, the plant in Lower Bavaria has become one of the most prominent locations in the automotive industry – and an engine for economic development in the region. The annual wage bill for the more than 18,000 BMW employees in Dingolfing is over one billion euros, and the plant contracts with around 1,000 suppliers from Lower Bavaria. In addition to investing in the Dingolfing vehicle plant, the BMW Group has also channelled more than one billion euros into production of electric powertrain components at the location since 2015.

The vision of the BMW iFACTORY

As with the decision to build Plant Dingolfing during the oil crisis of the early 1970s, the entrepreneurial vision of the BMW Group is still very much in evidence at the site today. Thanks to extensive investment, Plant Dingolfing is extremely well equipped for the future – and the transition to the BMW iFACTORY is tangible. The best example of this development in the areas of "lean" and "digital" is winning the renowned Automotive Lean Production Award in 2022. The Technology Assembly was recognised for the rollout of intelligent camera systems for quality monitoring (AIQX), for example, as well as smart logistics solutions and the IT platform IPS-i for identification and localisation of objects. Last year, the plant also piloted Automated Driving In-Plant (AFW), deploying the new BMW 7 Series along routes between the assembly hall and the finish area. This is being rolled out on a larger scale with the launch of the new BMW 5 Series.

In the field of sustainability – the “green” aspect of the BMW iFACTORY – the site has stepped up its activities in different areas in recent years: from promoting biodiversity on plant grounds, to preventing and recycling waste so only around 600 grams of waste for disposal remain per vehicle produced, up to and including decarbonisation measures. In addition to sourcing green power, the location has also signed a far-reaching contract for the supply of locally-produced heat from regional biomass for heating purposes. This will meet around half the plant’s process hot water requirements from the middle of the decade onwards, reducing its CO₂ emissions by 10-15% as a result.

Important decisions for the future

Nedeljković sees the recent investments in the transformation of Dingolfing and the other Bavarian plants as a firm commitment on the part of the BMW Group to Bavaria as a manufacturing location: “Nine out of ten BMW vehicles produced are sold to customers outside of Germany these days. Despite this, we still have more than half our employees here, especially in Bavaria – and, for all the internationalisation needed to achieve globally balanced growth, Bavaria remains an important pillar of the BMW Group and its production network.”

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

BMW Group Plant Munich anniversary celebrations: 100 years young!

Sun, 09 Jul 2023 17:22:00 +0200

Munich. BMW Group Plant Munich has had two busy days, and that despite the fact that not a single car has been built! To mark the 100^th anniversary of the Munich parent plant, the BMW Group invited all employees from the Munich site to the anniversary celebrations along with their friends and family. Over the course of Saturday and Sunday, around 70,000 people came and enjoyed an exciting stage program, spectacular driving events and special insights into production.

“Together we can make history! In the past, it is you who have always kept our home plant firmly on the road to success and it is you who will now lead it into the future together,” said Milan Nedeljković, Member of the Board of Management of BMW AG, Production. Plant Munich is currently undergoing major renovations for the start of production for the Neue Klasse in 2026, including the construction of three new buildings for the body shop and assembly complete with logistics areas. The head of Production made sure to emphasize: “We are quite literally leaving no stone unturned here, and yet you are keeping the plant up and running smoothly. This ambidexterity is exactly what makes the plant so special.”

Clocking up hours worked for charity donations

Ilka Horstmeier, Member of the Board of Management of BMW AG, People and Real Estate, also took the time to highlight the great dedication of the BMW workforce as she thanked the more than one thousand volunteers from all BMW locations across Munich who ensured the anniversary went off without a hitch and with such a great atmosphere. The hours the employees put in across both days were not remunerated but were instead donated in cash to five Munich charities.

“The dedication shown by our employees is extraordinary. After all, we not only celebrated our plant anniversary, but also gave a helping hand to many Munich residents in need, raising a total of 150,000 euros for social causes. This reaffirms that we are a responsible employer that also takes responsibility for society. That’s just the BMW way,” added Horstmeier. Representatives from the Münchner Tafel, the Arche, Verein Zivilcourage für Alle, Horizont e.V. and the crisis intervention team at ASB München all accepted the donation vouchers in person from Ilka Horstmeier, Plant Manager Peter Weber and Martin Kimmich, Chairman of the General Works Council.

To symbolize the structural and technological transformation of Plant Munich, the Member of the Board for Production, Plant Manager and Works Council Chair filled a time capsule that will be integrated into the construction area of the new body shop. Construction of the new hall is set to begin imminently. “Despite the new work underway, we will continue to produce more than 900 premium quality BMWs every day at Plant Munich. We all have to show great flexibility and commitment to achieve this, but we see this challenge as an opportunity to shape a successful future for our plant. And there’s no doubt in my mind that, with such a motivated and highly qualified team, the plant’s transformation to e-mobility and the iFACTORY can only succeed,” said plant manager Peter Weber.

By employees for employees

BMW employees not only handled most of the organization of the BMW anniversary celebrations themselves, but they also designed a diverse program over more than 25 different stations. Whether blues, rock, pop, cabaret or classical music – talent from various BMW locations performed on the two event stages. Plant Munich employees also gave tours of the production halls, presented their workplaces, introduced innovations, and informed guests about ongoing structural changes at the plant.

A former Plant Munich employee treated guests to another highlight: comedian and composer Willy Astor, who in his youth completed his training as a toolmaker at the plant, took to the BMW anniversary stage to delight visitors with his latest show.

Also popular were the shows from the “RedBull Driftbrothers”, the children’s motorcycle course and the driving sessions from the BMW Driving Academy. Plus, guests were able to tuck into a variety of culinary delights at around 30 food trucks as well as in the plant’s very own restaurant.

“It’s just incredible what the workforce has put together for these two days,” says Martin Kimmich, Chairman of the BMW General Works Council. “This reflects the one-of-a-kind BMW team spirit as well as our colleagues’ keen interest in social responsibility. As an important employer for the city located right in the heart of Munich, we were delighted to provide an insight into the transformation of our main plant for the future.”

A good neighbor

As a production site right at the heart of the Bavarian state capital of Munich, the plant also plays an important role as a neighbor. Alongside supporting local associations and organizations in the north of Munich, the company places a great deal of value on maintaining personal dialogue with the plant’s immediate neighborhood. Around 80 neighbors accepted the invitation to attend the BMW anniversary celebrations and were given a guided tour of the plant site.

The “BMW Munich – Urban Production” architectural competition, which was successfully completed last year, also serves to promote good relations and a livable environment. The designs from the two winning firms take the plant’s unique location at the heart of the city into account and aim to make the entire complex visibly more accessible and open to the neighborhood. This vision for the future of the Munich production site lays the groundwork for the development of a big-picture plan beyond 2026.

Both the big-picture plan and the structural optimizations already planned to produce the Neue Klasse help align Plant Munich with the principles of the BMW iFactory for the future: “LEAN. GREEN. DIGITAL.” Together, they guarantee maximum flexibility, outstanding processes, and top integration potential over the coming decades for this special location – the BMW Group’s 100-year-old parent plant.

(Editorial note: The BMW anniversary celebrations were actually held in Plant Munich’s 101^st year. When planning started back in 2021, the organizational team were unable to predict whether an event for the originally planned date of fall 2022 would be possible due to potential Covid restrictions.)

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

Global cultural pioneers present the new BMW XM at Coachella 2023.

Thu, 20 Apr 2023 14:00:00 +0200

Munich. BMW is returning to Coachella for the fifth time in 2023, this year celebrating the launch of the new BMW XM Label in big-impact style. The company is building on the success of its recently launched “Dare to be you” campaign, in which it asks cultural leaders like supermodel Naomi Campbell, British grime artist Skepta, German rapper Apache 207, New York-based fashion designer Bloody Osiris and professional skateboarder Ishod Wair to express who they really are – with the new BMW XM standing alongside.

Following the kick-off event at Art Basel Miami Beach, BMW is taking the campaign to the next stage with a Coachella spin. An international mix of emerging talents and household names provide the BMW XM with a new creative context. Coachella performers like Charli XCX, Earthgang and Uncle Waffles, plus German rapper du jour Badmomzjay, Grammy Award winner Nija Charles and South Korean choreographer Leejung Lee, will record their initial encounters with the first electrified high-performance model from BMW M GmbH in their own individual style: Dare to be you.

BMW in the spotlight as it helps to shape the zeitgeist.

BMW has a clear mission: to create a platform where cultural pioneers can truly show us what they’re all about. As Stefan Ponikva, Vice President Brand Communication, Brand Experience, says: “Our goal at BMW is to be at the heart of where creative magic happens. We want to enable artists – musicians, designers, actors, storytellers – to express themselves and to interact with our brand and our latest, already widely desired launch: the first-ever BMW XM. Coachella is an excellent platform through which to develop fresh conversations with talented emerging artists as well as established stars.

Spectacular backdrops for incredible pictures.

Photo and video sessions are both on the agenda again in California. And it’s not just the Coachella Festival setting that provides an inspirational location for unique shots. Other locations offering the co-creators a spectacular backdrop include the Invisible House in the Joshua Tree National Park. The building was designed to integrate into the natural landscape so that it almost seems to disappear into the surrounding Mojave Desert. With its extraordinary location, minimalist architecture and mirrored glass completely covering the exterior, the Invisible House is a fascinating sight that sparks creativity and is ideal for staging an emotionally engaging presentation of the new BMW XM.

The expressive design of the BMW XM – with its bold lines, powerful Sports Activity Vehicle proportions and distinctive front-end styling, complete with illuminated BMW Iconic Glow kidney grille – conveys the car’s authoritative character and guarantees the undivided attention of all around, even when stationary. The performance qualities of the latest BMW M model are equally as impressive, if not more so. Comprising a V8 engine and an electric motor and generating an output of 480 kW/653 hp, the M HYBRID drive system combines with the M-specific chassis technology to ensure the car handles with a blend of dynamism, agility and precision that none of its rivals can match.

The new BMW XM will be built at BMW Plant Spartanburg in the US along with all other high-performance models from the BMW X segment. The new range-topping BMW XM Label will also roll off the production line there from August 2023. Featuring a bespoke version of the new plug-in-hybrid drive system delivering a combined output of 550 kW/748 hp, the BMW XM Label will be the most powerful series-produced car in the history of BMW M GmbH.

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

BMW announces a completely new Head-up Display for the "Neue Klasse".

Thu, 05 Jan 2023 21:52:00 +0100

Las Vegas / Munich. As part of the CES 2023, the Chairman of the Board of Management of BMW AG, Oliver Zipse, announced a new generation of Head-up displays for the "Neue Klasse" in his keynote speech.
"It is more than a vision. We bring this innovation into the "Neue Klasse". As early as 2025 – the year after next – our customers will be able to experience this completely new technology in their vehicles,” said Oliver Zipse at CES 2023 in Las Vegas.

Press Contact: Marc Belcourt
Tel: +1-905-428-5078
E-mail: marc.belcourt@bmwgroup.ca

BMW Group accelerates CO2 reduction and focuses consistently on a circular economy with the Neue Klasse

Thu, 02 Sep 2021 10:00:00 +0200

Zipse: “We are committed to a clear course to achieve the 1.5 degree target”
50% reduction in global CO2 use-phase emissions by 2030
Over 40% reduction in CO2 emissions during life cycle
Ten million all-electric vehicles within ten years
Secondary first: Up to 50% use of secondary material planned – initiatives to develop the market are required
Cooperation with BASF and ALBA on plastic recycling
Resource scarcity and social responsibility: BMW Group focussed on circular economy for sustainable materials
RE:BMW – circular economy at the IAA Mobility in Munich

Munich. The BMW Group is increasing the pace of its efforts to combat climate change. Looking ahead to the introduction of the Neue Klasse, the company is further strengthening its self-defined objectives, announced in summer last year, to significantly reduce CO2 emissions, whilst also committing itself to a clear course that supports the 1.5 degree target for the limitation of global warming. The Neue Klasse will also see the BMW Group hugely increase its use of secondary materials with a firm focus on the principles of the circular economy, whilst also promoting better framework conditions for establishing a market for secondary materials.

To achieve a further reduction in CO2 emissions, the focus is on the utilisation phase of vehicles, which account for 70% of the BMW Group’s CO2 footprint. By 2030, the CO2 emissions per vehicle and kilometre driven will be at least halved from 2019 levels. The commitment of all manufacturers when it comes to combatting climate change can best be compared when looking at the entire life cycle of a vehicle, including production and upstream supply chain. Here, the BMW Group is planning a reduction of CO2 emission per vehicle of at least 40%.

“How companies are dealing with CO2 emissions has become a major factor when it comes to judging corporate action. The decisive factor in the fight against global warming is how strongly we can improve the carbon footprint of vehicles over their entire life span. This is why we are setting ourselves transparent and ambitious goals for the substantial reduction of CO2 emissions; these are validated by the Science Based Targets Initiative and will deliver an effective and measurable contribution,” said Oliver Zipse, Chairman of the Board of Management of BMW AG, in Munich on Thursday. “With the Neue Klasse we are significantly sharpening our commitment and also committing ourselves to a clear course for achieving the 1.5 degree target.”

The BMW Group is the first German carmaker to join the Business Ambition for 1.5°C of the Science Based Targets Initiative and is committed to the goal of full climate neutrality over the entire value-added chain by 2050 at the latest. This means that the company is also part of the international Race to Zero Initiative. The company is convinced that this can be achieved using innovation, rather than any overall ban on individual technologies.

The most powerful driver on this path to climate neutrality is electric mobility, with the BMW Group’s Neue Klasse set to provide significant further momentum to the market. During the next ten years or so, the company will be putting around ten million all-electric vehicles on the road. As early as 2030, at least half of global BMW Group sales will be all-electric vehicles, with the MINI brand offering exclusively all-electric vehicles from 2030.

The BMW Group continues to comply with the stringent criteria of the Science Based Targets Initiative, when it comes to measuring the reduction of worldwide CO2 emissions of the company’s vehicles whilst they are being driven on the roads. For example, emissions from the production of fuel or electricity are included in the calculation and consumption is based on the WLTP cycle plus ten percent. With its current product and electrification strategy, the company is on track to meet the EU fleet target for 2030.

Beyond green electricity: Stronger focus on use of resources in future

BMW Group is clear that simply increasing the number of electric vehicles on the road does not automatically lead to climate-friendly mobility. The company understands that it is also crucial to reduce the use of primary material and the related environmentally harmful exploitation of resources and their often CO2-intensive processing – especially when it comes to car manufacturing, one of the most resource-intensive industries.

“2017 was the first time the world’s population consumed more than 100 billion tons of resources within a single year - a trend which we in the automotive industry must also counteract,” Zipse demanded. “This is a strategic issue, concerning not only ecological but also economic sustainability; the current development of commodity prices demonstrates the impact an industry that is dependent on limited resources must expect.”

With the number of battery-powered vehicles growing, there is increasing demand for many commodities such as cobalt, nickel and aluminium, which are required for the vehicles’ high-voltage batteries. However there is great potential for the reuse of materials in the sense of a circular economy and together with specialist partners, the BMW Group has already demonstrated that it’s technological feasible to achieve a recycling efficiency of over 90 percent.

The amount of secondary nickel used for the high-voltage battery in the BMW iX is already as high as 50 percent, with the battery housing containing up to 30 percent secondary aluminium. The BMW Group aims to improve these figures even further for future product generations.

In addition to the increasingly scare availability of primary materials and resulting commodity price increases, there are many sustainability reasons to use more secondary materials and move towards a circular economy.

The supply of secondary materials is considerably less CO2-intensive than is the case with primary materials and can significantly improve the CO2 footprint, especially within the supply chain. In the case of secondary aluminium, the CO2 saving compared with primary material constitutes a factor of approximately 4 to 6, whilst steel and thermoplastics lie between around 2 and 5.

The extraction of resources for primary materials – particularly through mining – has a significant impact on the basic regenerative capacity of ecosystems. This impact can be greatly reduced by increasing the use of secondary materials.

The mining and trading of conflict materials carries the possible risk of associated infringements of environmental and social standards. The BMW Group has established numerous measures to counteract this risk, including membership of the Responsible Minerals Initiative. However, the most efficient strategy for avoiding risks is to minimise the mining of such primary materials.

‘ Secondary First’: Crucial vehicle materials with high secondary content

As part of its holistic approach to sustainability, the BMW Group aims to increase significantly the percentage of secondary materials in its vehicles. On average, current vehicles are manufactured using almost 30 percent recycled and reusable materials. With the ‘ Secondary First’ approach, BMW Group plans to successively raise this figure to 50 percent.

Of course it’s crucial that the quality, safety and reliability of the materials comply with the same high standards as those existing for primary materials – and so it’s essential that the market availability of such high-quality materials increases considerably. In order to achieve this, cross-industry approaches and political initiatives are necessary.

Based on the four principles Re:think, Re:duce, Re:use, Re:cycle, the BMW Group is boosting its activities in the field of circular economy, an area where it’s carrying out pioneering work. For instance, vehicle production now involves the increased separation and recycling of crucial material groups, so these can be reused by the industry within the framework of ‘closed loops’.

Cooperation with BASF and the ALBA Group

Within the supply chain and depending on market availability, secondary materials are increasingly being used in BMW Group vehicles. Moreover, together with its partners, the company is providing important impetus when it comes to developing secondary materials. One example is the company’s pilot project with BASF and the ALBA Group for the increased recycling of plastics used in cars.

The aim of the project is to reduce the use of primary plastics by means of a comprehensive recycling system. To this end, the ALBA Group analyses end-of-life BMW Group vehicles to establish whether a car-to-car reuse of the plastic is possible. In a second step, BASF assesses whether chemical recycling of the pre-sorted waste can be used in order to obtain pyrolysis oil. This can be then used as a basis for new products made of plastic. In the future, a new door trim or other components could be manufactured from a used instrument panel, for example.

Closed loop rather than downcycling: ‘Circular Design’ as the basis of a circular economy

In order to achieve higher recycling rates and whilst also guaranteeing the high quality of secondary materials, the materials must be extracted in their purest form as early as possibly during the recycling process. For example, the onboard wiring systems must be easy to remove, in order to avoid mixing steel with copper from the cable harnesses in the vehicles. If this mixing does take place, the secondary steel loses its essential material properties and therefore no longer meets the high safety requirements of the automotive industry. To support this early and easy extraction of materials, the interior of a car must increasingly be made of monomaterials, so that at the end of the car’s lifecycle, as much as possible can be transferred back into the usable material cycle. Basically, reducing the number of materials can help to improve the quality of recycled materials. Currently, vehicles consist of about 8,000 to 10,000 different materials.

To achieve this, the BMW Group is now focusing on a ‘Circular Design’ concept, which is designed to guarantee the economical dismantling capacity of vehicles. It is essential that disassembly of the vehicle and its individual components is fast and cost-efficient to ensure that prices of secondary materials are competitive. It all starts with the construction of the vehicle, which must be done in such a way that allows materials to be removed at the end of the vehicle’s service life without different types of material being mixed with each other.

RE:BMW at the IAA Mobility – a visionary outlook on circular economy

The BMW Group is putting circular economy at the centre of its presence at the IAA Mobility 2021 in Munich, where the company will offer a visionary outlook on the potentials of a circular economy and sustainable mobility. The BMW i Vision Circular embodies the company’s ambitious claim to be the most sustainable manufacturer for individual premium mobility.

This visionary vehicle, designed according to the four principles of the circular economy Re:think, Re:duce, Re:use, Re:cycle, shows how individual, sustainable and luxurious urban mobility could look in 2040. The BMW i Vision Circular is manufactured from 100 percent secondary materials or renewable raw materials, and is 100 percent recyclable.

This car demonstrates that climate protection and individual mobility do not necessarily contradict each other. On the contrary, it shows that using new technologies and innovation, the BMW Group can fulfill the planet’s requirements for greater sustainability without customers having to forgo individual mobility.

In case of queries please refer to:

Corporate Commmunications

Max-Morten Borgmann, Communications Corporate

Telephone: +49 89 382-24118, Max-Morten.Borgmann@bmwgroup.com

Kai Zöbelein, Communications Sustainability

Telephone: +49 89 382-21170, Kai.Zoebelein@bmwgroup.com

Eckhard Wannieck, Head of Communications Corporate, Finance, Sales

Telephone: +49 89 382-24544, Eckhard.Wannieck@bmwgroup.com

Bernd Eckstein, Head of Communications Purchasing, Supplier Network, Sustainability

Telephone: +49 89 382-59490, Bernd.Eckstein@bmw.de

Internet: https://newsroom.bmwgroup.com/global/en

E-mail: presse@bmwgroup.com

The BMW Group

With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is the world’s leading premium manufacturer of automobiles and motorcycles and also provides premium financial and mobility services. The BMW Group production network comprises 31 production and assembly facilities in 15 countries; the company has a global sales network in more than 140 countries.

In 2020, the BMW Group sold over 2.3 million passenger vehicles and more than 169,000 motorcycles worldwide. The profit before tax in the financial year 2020 was € 5.222 billion on revenues amounting to € 98.990 billion. As of 31 December 2020, the BMW Group had a workforce of 120,726 employees.

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