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.

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.

Ladies and Gentlemen,

Here it is. The first of a new era. The future of the car.

I’ve been with the BMW Group for more than 34 years now. During this time, I’ve witnessed many world premieres, exciting new concepts and bold technological innovations. But, for me – and for all of us at the BMW Group – today’s premiere is truly a “once-in-a-lifetime moment”. When else do you get to re-imagine a brand like BMW from the ground up? The chance to create an entirely new generation of vehicles? The chance to break completely new ground?

This year’s ##IAA MOBILITY## brings us full circle. You’ll remember that,

right here in Munich, back in 2021, I promised we would lead BMW into a new era. With the NEUE KLASSE.

Today, just four years later, we deliver on that promise. Here's the proof. The NEUE KLASSE is much more than just one new car. It represents a completely new model generation. A massive leap that will shape the entire brand for years to come.

Why now? Why such a bold step? Because we know the time is right.

Ground-breaking innovations don’t come out of nowhere.
They start with individual technological advances.

With people who recognize the untapped potential. With a visionary team that transforms those individual parts into something totally new – something far greater than the sum of its parts.

That’s where we were at the start of the decade. We saw the chance

for a massive leap in development across all relevant technologies –

from battery technology to digital user experience to computing power. A unique opportunity to completely rethink the car. It was a time for pioneers. In other words: the perfect BMW moment.

We have poured our vast experience, our wealth of technical know-how and – above all – our heart and soul into developing the
NEUE KLASSE. It wasn’t easy. But, together, we made it happen.

This is what the ##BMW iX3## represents.

We have taken the world with us on our “road to NEUE KLASSE”. Five vision vehicles. Highlighting five key aspects of the
NEUE KLASSE.

At the beginning, we demonstrated how sustainability and circular economy could be realized in a premium product. BMW i Vision Dee blurred the lines between reality and the virtual world – and offered a first glimpse of our new BMW Panoramic iDrive. At the IAA Mobility in 2023, things got much more concrete. A typically sporty BMW sedan with the new design language of the NEUE KLASSE. This was soon followed by a look at the future of the Sports Activity Vehicles. As you can see: We were already close to the real thing at that point. Sheer Driving Pleasure – taken to a whole new level. The VDX demonstrated this. An impressive proof of the potential unlocked by integrating different technologies in the NEUE KLASSE. BMW driving dynamics at its finest.

Ladies and Gentlemen,

Our goal with the NEUE KLASSE was to create the best overall system for our customers. That’s why the iX3 and the upcoming vehicles of the NEUE KLASSE integrate everything we’ve showcased in recent years. When it comes to design, we have even skipped an entire generation. And there's no one better to explain how our customers will experience this with all their senses than Adrian van Hooydonk.

Speech Adrian van Hooydonk, Head of BMW Group Design

Thank you, Oliver. Welcome ladies and gentlemen!

Yes, the big moment has finally come. We are launching the
BMW iX3, the very first car of the NEUE KLASSE. As Oliver mentioned, we have been working on this for the past 4 years and with the NEUE KLASSE we are taking very big steps in technology. These bigger steps in technology can only become meaningful hand in hand with big steps in design.

The BMW iX3 has a much bigger range helped by a very clean shape with excellent aerodynamics. In the interior you will find a new display concept that allowed us to clean-up the dashboards and completely redefine the driving experience.

But let‘s look at the exterior design first:

We have typical solid BMW SAV proportions with a lot of presence and emphasis on all four wheels. The surfaces are very clean with only a few precise lines. The front-end shows a new interpretation of the BMW typical face in which we replace chrome with light. Vertically oriented kidneys match the more upright overall appearance of our SAV.

This new light signature is part of the daytime running light and it will make the new iX3 very recognizable by day and by night. Overall, the car has a very solid stance and strong shoulders and, in the rear, again a new light signature that emphasizes the width of the car.

In the interior you will find that the driving experience is and will remain our focus, putting the driver at ease and in control! The key element to this is our all-new BMW Panoramic Vision which projects in the bottom of the windscreen and builds upon our years of experience with head up displays. This new display is visible for all passengers on board and will allow you to quickly check the information you want and need while keeping your hands on the wheel and your focus on the road ahead. Together with our new free cut central display and iconic steering wheel these elements are the corner stones of our new Panoramic iDrive system, a whole new driving experience that you will find in all our future BMW models from now on!

This new user experience already starts when you approach the car and continues as you get in and set the car up to your personal preferences. With My Modes you can do that very easily and select a perfectly curated driving experience – from screen content or colors to light and sound and even driving characteristics.

So, our new Operating System X focuses on the best driving experience but will also allow you a much higher level of personalization making your new BMW truly yours. Overall, the new digital aspects of our cars will make them more intelligent and easier to use. At the same time, this has allowed us to design much cleaner and warmer interiors, creating very personal living environments

on four wheels. The interior trim “Digital White” is spacious and modern.

But what about other options?

We curated various interior trims with a lot of attention to detail,

giving each trim a unique & distinctive character. These trims can be combined with a wide variety of exterior colors giving our customers plenty of choice in a few easy steps.

So, starting with the BMW iX3 we are introducing a new form language that will lead to a new look and feel for the entire
BMW brand. Our designs will be very clean and at the same time
very strong in character, but above all: more BMW then ever!

Thank you very much!

Speech Oliver Zipse,
Chairman of the Board of Management of BMW AG

Thank you, Adrian. From driving dynamics to drivetrain, from battery technology to the operating concept and digital user experience: Every one of these elements has been significantly enhanced for the NEUE KLASSE.

Looking at the performance data for the BMW iX3 gives you an idea

of what our customers can look forward to. The iX3 is all-electric. With more range and faster charging: that was our promise – and we have delivered. The iX3 offers a range of more than 800 kilometers in the WLTP cycle. Range anxiety? We’re making sure it’s a thing of the past. Also thanks to its ultra-fast charging capability: The peak charging power is up to 400 kilowatts. In other words: In just 10 minutes, the iX3 charges enough to drive more than 370 kilometers.

At BMW, we are known for our driver orientation. Hands on the wheel, eyes on the road, with the right data just where you need it.

With BMW Panoramic iDrive, the windscreen itself even becomes

a projection surface – merging reality and the virtual world in perfect interplay. Here, we're once again setting a new standard – and not just in the iX3. We’re rolling out BMW Panoramic iDrive across our entire product range.

The iX3 also strikes perfect harmony between hardware and software. Four central computers deliver the necessary computing power, processing data up to 20 times faster than conventional systems: genuine super-brains. BMW drivers will appreciate one of these systems in particular – the Heart of Joy, which combines all functionalities for the drivetrain and driving dynamics: Over 100 years of expertise in driving dynamics, now enhanced by digital capabilities. You’ll feel the difference right away. Whether you’re pushing the limits or driving in everyday situations. This is
Sheer Driving Pleasure taken to a whole new level.

The experience also includes state-of-the-art automated assistance systems, tailored to our customers’ needs: dependable at all times, without compromising safety. Driver and vehicle become one.

We call this BMW Symbiotic Drive.

Ladies and Gentlemen,

We know that without responsibility, there can be no real progress. That is why decarbonization and resource conservation are key 

in the development of the iX3 and the NEUE KLASSE. Throughout the entire life cycle. We also apply principles of design for circularity.

The vehicle standing here next to me is made up of one third secondary raw materials. We are focusing on becoming more efficient and consuming less energy and resources. Whether in the

supply chain, in production or on the road.

The iX3 is a perfect example of our strategy of reducing CO₂ wherever we have leverage. We are on a transparent and reliable path towards climate neutrality, in line with the Paris agreement - using all drivetrain technologies.

Ladies and Gentlemen,

Greater electric range. Faster charging. A more immersive digital experience. The next level of Sheer Driving Pleasure. A greater focus

on sustainability. And all of this in an incredibly attractive package. The BMW iX3 is truly more BMW than ever. And this is just the beginning!

We are rolling out the design, innovation and the latest technologies across all our vehicles. All our models will benefit from the advances made in the NEUE KLASSE – regardless of the drivetrain.

We have made a conscious decision to start out in the high-volume segments – because the NEUE KLASSE was never designed

for a niche. We want all our customers to benefit from the innovations as quickly as possible.

The next vehicle is already waiting in the wings. The details are still hidden beneath the camouflage, but I’m sure you’ll recognize the classic proportions of a sporty sedan.

The new BMW i3. 

It will be released next year as the Series’ first all-electric version. And it will be the first model variant of the new 3 Series generation.

For the past 50 years and over seven model generations, no other vehicle has been as closely tied to the success of the BMW brand. The 3 Series embodies everything at the very core of BMW. Innovation. Digital user experience. Comfort. Sportiness. Together, these characteristics create an incomparable driving experience. Sheer driving pleasure at its finest.

After the launch of the i3, more variants will follow.

The iX3 and the i3 – a powerful symbol of the broad spectrum the NEUE KLASSE will cover. Production of the BMW iX3 will begin later this year at our new plant in Debrecen.

From 2026, every new BMW will be all-new. We will launch

40 different new and updated models. By 2027.That is the future.
A new era. That is BMW.

Ladies and gentlemen,

It takes an exceptional team to bring projects like the NEUE KLASSE and vehicles like this one to life. A team with the unconditional desire, willpower and ability to shape the future. We, the Board of Management, stand before you today representing our nearly 160,000 BMW Group employees worldwide.

On behalf of us all, I want to thank our incredible team for their dedication and commitment over the last few years to reach this milestone moment.

Together, we are leading BMW into a new era.

Thank you very much.

In the event of enquiries, please contact:

BMW Group Unternehmenskommunikation

Matthias Bode
Spokesperson BMW iX3
Telephone: +49-151-601-61742
E-Mail: Matthias.Bode@bmwgroup.com

Steven Wörns
Spokesperson BMW Group Design
Telephone: +49-151-601-16992
E-Mail: Steven.Woerns@bmw.com

Max-Morten Borgmann
Head of Communications BMW Group, Finance, Sales
Telephone: +49 151-601-24118
E-Mail: Max-Morten.Borgmann@bmwgroup.com

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!

- 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.

- 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.
 

- 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.

- 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.

1. Future to the max: Turning visions into reality.
2. Following our own convictions: Technology openness is effective.
3. Global success today means acting regionally.
4. 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.

Ladies and Gentlemen,

In just a few weeks, the IAA MOBILITY will take place – right on the BMW Group’s doorstep, here in Munich. Our company and brands will be showcased as part of the “Open Space” on Max-Joseph-Platz in the heart of the city and on the trade fair grounds.

The IAA MOBILITY will turn the whole city into a mobility hub – creating a platform for constructive dialogue between all mobility providers and residents, stakeholders and guests from around the world. Few business segments offer such a wide range of opportunities for innovations that can benefit us in our everyday lives and, at the same time, speed up progress in society.

We firmly believe this – and have the facts to back it up: Our BMW Vision Vehicles are the embodiment of this approach. They focus specifically on individual future topics and demonstrate how we at BMW are tackling and implementing them.

Take, for example, the BMW i Vision Circular from 2021 – which was systematically designed for closed-loop material cycles. A circular economy is our vision for the long term – because this will make our company less dependent on valuable raw materials and even more resilient.

Another example is the BMW i Vision Dee from CES at the beginning of 2023. It demonstrates the potential of what happens when hardware and software merge. The car becomes a digital companion that learns and understands.

We believe there are three key action areas that will dominate the mobility of tomorrow: electric, digital, circular.

Each of these on its own is already a challenging and inherently complex task. Combining all three aspects into a coherent overall concept is the ultimate challenge. This capability will determine future competitiveness in our industry. With our next Vision Vehicle we will open up new dimensions in several areas – design, operating concepts, efficiency and sustainability.

On 2 September the BMW Vision Neue Klasse will celebrate its world premiere. The date was chosen to honour a historical milestone: It will be almost 60 years to the day that BMW staked the claim of the Neue Klasse. Back then, the decision to launch a ground-breaking new product range enabled BMW's success and kept it going over the following decades.

Now, once again, we are turning vision into reality: I can promise you that the Vision Neue Klasse is close to standard production and will be on the roads soon.

Production of the NEUE KLASSE will get underway in 2025 at our new plant in Debrecen, Hungary, followed by Plant Munich in 2026. To mark the 20th anniversary of BMW Brilliance, we also announced local production of the NEUE KLASSE at our plant in Shenyang, China from 2026.

The NEUE KLASSE is a mega-project that spans the entire company. It is about nothing less than the future of the BMW brand, the BMW Group and our portfolio. We are in intensive preparation for this and will continue to make significant investments in relevant future technologies over the next few years.

Internally, we are working together within new organisational structures such as our tech clusters – like the one for the electric drivetrain, for example. In this way, we are able to address – in parallel and in an integrated manner – the mission-critical issues of cost efficiency and sustainability.

It is clear to us that with innovation drivers like the NEUE KLASSE, we can grow as a company, both quantitatively and qualitatively. That is what counts.

At the BMW Group, everything has to get a little bit better every day. That is what we aspire to. In late July, the new BMW 5 Series began rolling off the assembly line at Plant Dingolfing. It will be released onto the markets towards the end of the year.

As with the BMW 7 Series, 4 Series, X3 and X1 models, customers once again get to choose between different drivetrain variants.

With the all-electric i5*, the BMW Group will then – as promised – offer at least one BEV model in every core segment. The i5 will help ensure that 40 percent of all the vehicles we build at our biggest European plant will be fully electric from next year onwards. In addition to the 5 Series, the new BMW X2 is also in the starting blocks, including the BEV variant iX2. The 5 Series is receiving very positive feedback in the media and social media.

The eighth generation of our successful business sedan has been praised in particular for its tech highlights – including the Level 2 hands-off system. The 5 Series is the first car in Germany to be approved for partially automated driving at up to 130 km/h on motorways. This exemption means drivers can use the new BMW Highway Assist – which allows them to take their hands off the wheel while driving. Another feature has been added to our Highway Assistant – the Active Lane Change Assistant with so-called “eye confirmation”. This world first allows the driver to change lanes as suggested by the system – simply by looking in the exterior mirror.

For the BMW Group, safety will always be a core element that our technological innovations must all contribute to. We test our vehicles on the proving ground, not on our customers – and only release perfectly tested, highly advanced vehicles onto the market.

Last week, we opened a new testing site in the Czech Republic. It is by far our largest test track and where we are testing highly automated driving. Our Future Mobility Development Centre in Sokolov provides the ideal infrastructure and reproduces the road conditions of countries from all over the world. The site covers 600 hectares and consists of six tracks.

We are also focusing on production trials for fully automated parking. Together with our partner Valeo, we are developing solutions for automated valet parking. Compelling products that create value for customers as well as surprising innovations are the foundation of our business success. There is a positive correlation here: Strong products generate strong demand – across all drive technologies and all market regions.

As you know, we at the BMW Group are taking an open technology approach to the transformation of our industry. We are concerned with both climate effectiveness and sustainable business success. For us, there are no old or new technologies, only future-proof ones. For effective climate protection, all types of drive must contribute to the reduction of CO2 emissions.

This technology-open approach is a strength of the BMW Group. After all, the world regions and individual markets will continue to develop differently and at different speeds in the coming years and decades.

This applies to technologies and regulation, to the expansion of infrastructure for e-mobility and to the wishes of customers. Because different political framework conditions lead to different customer behaviour.

In the USA, for example, the internal combustion engine remains relevant parallel to the ramp-up of e-mobility, which we see above all in states like California. In China, the government is promoting e-mobility, but there is no question of banning the combustion engine. In Japan, hybrid drive is in demand and there is a high level of interest in hydrogen.

Thanks to our flexibility, we can react quickly to changing requirements in the markets at any time and in any situation. We can provide customers with adequate offers without sacrificing market volume.

We continue to pursue this approach consistently and with conviction. Because the holistic view of customer needs, environmental requirements and political guidelines is a unique selling point of BMW. I see this as further proof that our strategy is working and bearing fruit.

This was also true in the first half of 2023. Despite a somewhat subdued global economy, the BMW Group delivered more than 1.2 million vehicles to customers – an increase of 4.7 percent compared to the previous year. BMW remains number one in the global premium segment, with over 20 percent of the market.

All regions – from the Americas and Europe to China and Asia - are currently supporting our growth. The ramp-up of our all-electric models remains a clear priority. As you know, BEVs should account for 15 percent of our global sales for the full year.

Our BMW iX* came first in the BEV ranking in the J.D. Power APEAL study – which rates customer satisfaction among new vehicle owners in the US. One thing is clear: E-mobility needs suitable framework conditions. As a founding partner of IONITY, we have been promoting the development of a comprehensive charging infrastructure in Europe since 2017.

Now, we are transferring our commitment to the USA. Together with six other car manufacturers, the BMW Group is establishing a new joint venture for a fast-charging network in North America. Our goal is to build at least 30,000 charging points in cities and on highways.

The first stations will be opened as early as summer 2024. The network will be open to users of all brands and will support both CCS connections and NACS technology.

What is clear: our products with all drive technologies are in demand and our plants around the world are operating at high capacity. Our order book remains high. The world of the future is not a zero-sum game. Rather, new technologies create new opportunities.

But only companies that pursue a broad, innovation-based strategy across all technologies will be successful and continue to gain additional market share.

All our brands are making their contribution: Rolls-Royce is launching the all-electric Spectre later this year. BMW Motorrad, in its anniversary year, is now pushing ahead with electrification following the CE 04, with the eParkourer CE 02.

MINI is reinventing itself from the ground up with the new MINI family. The new Cooper Electric, with its spectacular interior and infotainment system, will be unveiled before the end of the year. We will also be building all-electric MINI vehicles in China going forward.

In March, we introduced a new customer-centric direct sales structure for the MINI brand in China. In Europe, we will be launching our new sales model for direct customer access with MINI in 2024. The BMW brand will follow in Europe in 2026.

Ladies and Gentlemen,

All of this shows how we are setting the BMW Group on a profitable course for the future – through quantitative and qualitative growth with both our products and technologies.

We are aiming for appropriate market penetration and intend to systematically exploit opportunities.

Thank you!

Good morning, and welcome to the BMW Group!

This is the time of year we usually meet in Geneva and it is unfortunate that this year, we are unable to do so. However, safety is always our highest priority and we fully understand and respect the decision taken by the Federal Council of Switzerland. We would like to express our utmost empathy to all those directly affected across the world. And in these truly challenging times, we all hope that the virus will soon be contained, and we can all return to everyday life.

Even though we couldn’t meet in Geneva, we felt that it was important to give everyone an update on “what’s new” at the BMW Group. And also, to pay tribute to the many people who have worked tirelessly on our new products and their presentation. And that’s why we are here, at the very heart of BMW Group Design, for the world premiere of a very special concept car.

At the BMW Group, we believe in the power of choice and electro-mobility is an important part of that. That’s why we are launching many new electrified vehicles over the next few years.

The brand-new MINI Electric is already in high demand, with more than 120,000 registered interests and close to 7,000 order intakes. This proves it is the perfect car for urban areas! This year we will be launching the all-electric BMW iX3 - our first pure electric Sports Activity vehicle - and the trailblazer for our all-new fifth generation BMW eDrive technology. We will also be launching further plug-in hybrids in 2020: For example, the new BMW X1 plug-in hybrid, the BMW X2 and the electrified BMW 3 Series Touring will be attractive additions to our wide range. Already, we have over half a million BMW Group electrified vehicles on the road. And we intend to double this number by the end of next year.

More fully-electric vehicles will be coming next year, including the BMW iNEXT and the BMW i4. Today, we want to give you a glimpse of the BMW i4. Let’s take a look! (Unveiling of the BMW Concept i4)

Ladies and Gentlemen: The Concept i4!

This four-door BMW Gran Coupé is fully electric and just as fascinating and fast as it looks. It is also suited to long distances, with an electric range of up to 600 kilometres, based on the new WLTP test cycle. Powered by our fifth-generation BMW eDrive technology, it has a very slim battery with optimum energy density.

Moreover, the development and production of the e-drive is done in-house, as well as the battery cell research. The e-drive offers a thrilling peak performance of up to 530 horsepower. And, we will not use any rare earths in the electric motor.

All of this shows that we are fully committed to climate protection.

I can assure you and our customers: We will fulfil the tough European CO2 regulations for 2020 and 2021. This year alone, we will reduce our European fleet target by around 20 percent.

I promise you: Our customers will never have to compromise between driving pleasure and sustainable mobility. Every BMW will drive like a true BMW. The BMW i4 will definitely be proof of that! We will build this great car right here in Munich, and I can tell you this: The design you see here is quite close to the actual series car.

Thank you!

Jochen Goller

President and CEO of BMW Group Region China

Good morning and welcome!

As you would expect from the BMW Group, you are going to see a real firework of new products. To start with, we have the all-new BMW 3 Series standard wheel-base, celebrating its China premiere today. The 3 Series has a special meaning to us: It embodies pure sportiness. And it was also the first model to be produced in China in 2003. The 3 Series legacy is closely tied to our success in this market.

Today China truly stands for rapid transformation and technological advancement. That’s why our largest R&D footprint outside of Germany, is right here in China. Guided by our new China Strategy, we focus on four aspects of future mobility – autonomous, connected, electrified and services. That enables us to unleash the full potential of this highly dynamic market. 

Our company is in the midst of its strongest product offensive ever, and we can already see the positive impact: BMW Group China achieved a year-on-year growth of 10% in the first Quarter.

Localization is one key driver of this performance.

Very soon, we will start production of the all-new 3 Series in Shenyang, offering both standard and long-wheelbase models. Driven by the launch of new products, our good momentum will continue in the coming months. And now let’s get started. Please welcome Pieter Nota!

Pieter Nota

Member of the Board of Management of BMW AG

Customer, Brands, Sales

Good morning!

Since April, our brands BMW, MINI and Rolls-Royce have been united as one division in our company. I am thrilled to lead these three exciting and emotional brands.

We’re proud to celebrate the world premiere of the new MINI Clubman here in Shanghai. To tell you more, please welcome Bernd Koerber, our new Senior Vice President of MINI.

Bernd Koerber

Senior Vice President MINI

More than ever before, the MINI Clubman embodies driving fun and individual style in its class. Its concept with four doors and the two split doors at the rear continues to be unique. Building on that success, it now has a new front and rear appearance: A fresh design of the grille, new LED headlights and the rear lights in Union Jack design. The interior benefits from the new MINI Yours package. And customers can enjoy advanced digital services from MINI Connected.

MINI is all about emotion and 2019 will be an exceptional year for the brand! This year is MINIs 60th birthday, which we are celebrating with a highly appealing design model. This MINI 60 Years Edition is available as a 3-door and a 5-door. You can view them at our MINI stand. I hope to see you there!

Timo Resch

Vice President Sales and Marketing BMW Motorrad

BMW Motorrad is still growing strongly in China.

Last year our sales increased by 36 percent here.

A big “thank you” to our Chinese customers!

And this impressive bike will add to that momentum.

The BMW S 1000 RR shaped the brand with its outstanding dynamics when it was launched a decade ago. And it still dominates the segment. For the all-new 2019 “Double R” our goal was simple: “Make it even better”.

And we did just that: It is up to 14.5 kg lighter. The assistant systems make it easy to control – on public roads and also on the race track. And the new engine with BMW ShiftCam Technology makes this new Double R the most powerful bike we ever built. And, we’ve combined the power of M with Motorrad: This is the first motorcycle to feature an M package and M Performance parts such as carbon fibre wheels, an M sport seat and many more.

Let’s stay with the power of “M” and it’s back to Pieter Nota with some great new cars. Thank you.

Pieter Nota

Member of the Board of Management of BMW AG

Customer, Brands, Sales

Here they are!

The world premiere of two cars BMW M fans all over the world have been waiting for. Our X models accounted for around 40 percent of global BMW sales in 2018. So I’m very confident that the expansion of our high-performance line-up with the BMW X3 M (fuel consumption combined: 10.5 l/100 km; CO2 emissions combined: 239 g/km) BMW X4 M (fuel consumption combined: 10.5 l/100 km; CO₂ emissions combined: 239 g/km) will be a great success.

Both of them feature the most powerful straight-six petrol engine of any M model ever. We’re talking about 510 horsepower. And around 4.1 seconds from zero to a hundred in these Competition models here. Add to that power: M typical dynamics, agility and precision.

And now Ladies and Gentlemen:

The world premiere of the all-new BMW 3 Series Long Wheelbase – created exclusively for Chinese customers!

Every third BMW 3 Series is sold right here in China and eighty percent are long wheelbase models. Chinese and German engineers worked together to develop the new BMW 3 Series Long Wheelbase. More than ever, we focused on exceeding Chinese customers’ wishes. We combined the outstanding design of the BMW 3 Series with the most generous and comfortable interior in its class. Let’s take a closer look. The BMW 325 Li offers best-in-class roominess thanks to a wheelbase that is 11 cm longer, as well as China specific comfort features, such as extra soft headrests.

It also premieres BMW’s new smart digital character – the BMW Intelligent Personal Assistant – in its Chinese version. With our Intelligent Personal Assistant, we offer cutting-edge artificial intelligence technology to make our customers’ lives easier. To demonstrate this and other digital features, I am delighted that one of our senior instructors here in China is with us today.

Vin Dong, the stage is yours.

Vin Dong, Senior Instructor BMW China.

Demonstration BMW Intelligent Personal Assistant

Pieter Nota

Member of the Board of Management of BMW AG

Customer, Brands, Sales

In a nutshell: Future mobility at the BMW Group is sustainable, connected and autonomous. The BMW iNEXT will take individual mobility to a whole new level in 2021. You can already take a closer look at the Vision iNext here on the stand.
It combines many future technologies. Of course, it’s fully-electric, with a range of over 600 kilometres.

It offers full connectivity, as well as the launch of highly-automated driving capabilities and a completely new interpretation of interior space – we call it “my favourite space”. This opens a whole new chapter for the BMW Group. Technologies from the iNEXT will be transferred to our entire model line-up.

Being mobile will continue to be a big part of our lives.

And I am very sure that China will play a leading role in this new era of mobility.

Thank you and Xie Xie.

Knudt Flor, President and CEO of BMW Manufacturing Co

Governor McMaster,

Senator Graham,

Ambassador Wittig,

Distinguished Guests,

BMW Associates,

Good morning and welcome to BMW Plant Spartanburg!

Each and every one of you here today is important to the United States, the state of South Carolina and to Plant Spartanburg, so I would like to begin by taking a moment to recognize all elected officials. Please be kind enough to stand for us so you may be acknowledged. On behalf of the BMW Group, I would like to thank you for twenty-five years of continued support and personal commitment to this plant’s success. Thank you!

Governor McMaster, thank you for your continued efforts in promoting this partnership, as many governors – especially the late Governor Carroll Campbell - before you have done. We’d also like to say a special “thank you” to Bobby Hitt, the Secretary of Commerce, who has been instrumental in the tremendous growth of Plant Spartanburg.

From the BMW Group, I would like to introduce Mr. Harald Krueger, Chairman of the Board of Management, and Mr. Oliver Zipse, Member of the Board of Management, responsible for Production worldwide. We welcome the national and international press, as we celebrate 25 Years Spartanburg and the All-New BMW X3!

Also, please join me in welcoming our valued dealers and suppliers from the U.S., our managers from Munich, and last, but certainly not least, I am delighted to welcome all of our associates here on site - the heart and soul of Plant Spartanburg!

25 years ago, our company reached an historic agreement with local government to build our first U.S. BMW plant in the great state of South Carolina. It was the start of something very special - a wonderful friendship and a new beginning. As BMW’s Chairman, Mr. Eberhard von Kuenheim stated back in 1992: “Seldom in the history of our company, has a community extended such a warm welcome to us as here in Spartanburg, in the state of South Carolina, USA. We have felt at home here from the first day on.”

In 1994, Spartanburg began operations with 570 associates, under the motto of “Welcome to the Future”. Today, we are proud to have over 9,000 associates here! Spartanburg has grown to become the largest plant in the BMW Group’s worldwide production network. That, in itself, is a very strong statement about our commitment to South Carolina and to the U.S.

It is our global competence center for our very successful BMW X vehicles. Currently, the plant produces X3, X4, X5 and X6 models, as well as M and hybrid variants. We are looking forward to starting production of the BMW X7 in late 2018. Today, we are delighted to give you an exclusive world premiere of the All-New BMW X3. The BMW X3 is without a doubt, the best vehicle in its segment. More on that shortly!

Of course, the success story of Plant Spartanburg wouldn’t have been possible without people. People have made and continue to make the difference.

We are proud of the people who work here – they are highly skilled and dedicated to building premium quality vehicles for our customers. I am proud to be the leader of such an incredible team at such a remarkable time. World class products are built here every single day. It’s thanks to you, our associates that BMW feels very much at home here in Spartanburg, South Carolina.

We are honored to have so many friends here and immensely proud to call South Carolina “our home away from home”. It is our goal, and our commitment, to remain a strong and reliable partner for our associates, our customers, South Carolina, and the United States.

Of course, a picture is worth a thousand words – here’s a film to remind us of a few highlights from the past 25 years.

Thank you!

Harald Krüger, Chairman of the Board of Management of BMW AG

Governor McMaster,

Senator Graham,

Ambassador Wittig,

Honored guests,

It’s great to be back in Plant Spartanburg again!

The film we just saw underscores the BMW Group’s strong commitment

• to the United States of America,
• to South Carolina,
• and to all our associates and partners here in the U.S.

All of this shows that the U.S. is clearly our home away from home.

We are proud to be responsible for around 70,000 jobs in this great nation – including dealer network and suppliers. The effect of that employment multiplies to a total of more than 120,000 jobs nationwide. This is according to a new study from the Moore School of Business at the University of South Carolina. Furthermore, our purchasing volume in America is now at 5.7 billion US dollars.

25 years ago, we made a crucial and forward looking decision. We decided to build our first full production plant outside of Germany in the U.S. – right here, in South Carolina. The BMW Group’s success in America would not be possible without the open arms and warm hearts of the people and elected officials in the great state of South Carolina and the surrounding region.

Senator Graham, it is an honor to have you with us here today. We greatly appreciate your ongoing support over the years.

Our relationship with South Carolina has been built upon decades of mutual trust and respect – and goes far beyond just building cars. Governor McMaster, as you have kindly said – we have become part of the very fabric of this great state. And David Britt, we were deeply touched by your words when you said: “BMW is the gift that keeps on giving”.

I am extremely proud of the highly skilled people who work here for the BMW Group. Their passion for excellence ensures that BMW vehicles built in the U.S. excite and inspire customers all over the world. Some of my fondest memories are from my time here at the plant as a manager. Since then, one thing has never changed – the unique spirit that makes BMW Plant Spartanburg so special: It’s all about People, Performance, Passion and Pride.

Today, I would like to thank all of our associates here, at Plant Spartanburg, for their strong commitment. You bring this plant to life – with your work, every single day. Thank you for your outstanding dedication! I am sure you all would agree that our associates deserve a round of applause.

Governor McMaster,

Senator Graham,

World-class people build world-class products. Today, Spartanburg is our largest plant worldwide. It is the global competence center for our X family vehicles, including the BMW X3. The BMW X3 is the most successful vehicle in its segment worldwide. Today, we are very proud to present you the third generation – “Built by BMW in the U.S. for the world”!

About 70% of our production from Spartanburg is exported to more than 140 countries. Thanks to our great, hardworking team here in the U.S., BMW was once again the leading U.S. automotive exporter by value in 2016 - a title we hold with pride.

Free trade has made our joint success story in South Carolina and the U.S. possible. A story, we want to continue, together with all of you. I firmly believe in free trade and open markets. It is essential for global businesses and economies around the world to flourish.

Altogether, the BMW Group has invested eight billion US dollars in Plant Spartanburg to date. I am delighted to say, we are investing a further 600 million US dollars in our manufacturing infrastructure here, up to 2021. This is for future generations of our X models. In the next four years, we will also create 1,000 new jobs, taking our workforce here to over 10,000.

Ladies and Gentlemen,

Training and qualifying our associates is key to our future success. We believe in education! That’s why the BMW Group will invest $200 million over the next five years – solely for the training and further education of associates at Spartanburg. In addition to this, we will begin to roll out a nationwide training program. We work together with local universities and colleges to offer a combination of training on the job and earning a degree. We will keep investing in our people and in our business in the U.S. This underscores our enduring commitment to the people of this great state and nation.

Therefore, I remain confident: Our footprint and commitment will continue to grow – not only in the Great State of South Carolina but also in the United States in the years to come.

(Unveiling of new BMW X3)

Ladies and Gentlemen,

The new BMW X3!

I can tell you, it’s really amazing to drive. Over two generations, the BMW X3 has been delivered to more than 1.5 million customers worldwide. I’m certain: This new generation will raise the bar even higher! Thanks to the team in Spartanburg for your great contribution. “Built by BMW in the U.S. for the world”!

Governor McMaster, Senator Graham, Ambassador Wittig, Oliver, Knudt, dear Associates – please come and join me on stage.

Thank you!

Olaf Kastner, President and CEO, BMW Group Region China

Good morning!

Both of these cars show the innovative power of the BMW Group.

They demonstrate our expertise in electromobility, which began 45 years ago.

Back in 1972, the all-electric BMW 1602 prototype allowed for emission-free mobility at the Olympic Games in Munich.

Today, our commitment to sustainable mobility is stronger than ever.

I am delighted to present the World Premiere of the BMW i8 Protonic Frozen Yellow Edition. This very striking, limited edition i8 will come to China in September.

Trends come and go. Icons remain. These cars are proof of that.

In China, our New Energy Vehicles have been well-received. We were the number one brand in electrification leadership according to an external consumer study last year. And this year looks set to build on that success with a strong start in electromobility. We are heavily involved in developing the NEV eco-system with our ChargeNow brand, which will see nearly 50% growth in publicly available charging and a total of 2,500 charging pillars in 15 cities by the end of this year.

Ladies and Gentlemen,

We have entered a new phase of localization in China. We have just launched the BMW 1 Series Sedan especially designed for China. Two weeks ago, we delivered the three millionth car. In a few weeks, we will open a new production facility in Shenyang.

In line with ‘Made in China 2025’, we will bring more state-of-the-art Industry 4.0 technology to the New Plant Dadong. With our increasing local R&D development, which will soon include High Voltage Battery production, we are well-prepared for China’s NEV development.

All of this demonstrates our commitment to shape the future of premium mobility.

Thank you for joining us today.

Peter Schwarzenbauer, Member of the Board of Management of BMW AG, MINI, Rolls-Royce, BMW Motorrad, Customer Engagement and Digital Business Innovation BMW Group

Riding, driving, and being driven is not just about going from A to B. It is also about freedom, luxury, comfort and excitement. For more than 100 years, our company has been providing emotional mobility. Buying a BMW Group vehicle is not only a rational decision, it’s a highly emotional one.

And all of our brands are emotional to the core, each in its own unique way.

BMW stands for sheer driving pleasure. Innovative mobility services and connectivity features complement the premium experience. And there is more to come. For example, we will start our car-sharing service ReachNow in Chengdu this year with a fully electric fleet.

BMW is also known for its emotional products on “two wheels”:

BMW Motorrad makes your life an extraordinary ride. Whether it be through sheer speed, adventure, cruising, or even silent electric riding.

Rolls-Royce is the very pinnacle of luxury. You can see that for yourself – and take a look at the new darker side of this brand at the Rolls-Royce press conference at 11:40 h CST.

And MINI? Well, if you want to experience one of the most emotional cars – in my opinion you should get inside a MINI, and give it a spin. For an extra dose of adrenalin and passion you should try out a MINI John Cooper Works.

Ladies and Gentlemen,

Today, I have brought along the latest member of this family:

What a great MINI! This is a car for those who want the extraordinary. Versatility, off-road excitement, MINI typical performance on the road: the new MINI John Cooper Works Countryman combines all these characteristics.

This is the second generation MINI Countryman. And John Cooper Works takes it into a league of its own. Inspired by its racing heritage, John Cooper Works creates the sharpest and most powerful MINIs.

The new MINI John Cooper Works Countryman is a truly exceptional vehicle:

-      The Countryman offers the most space of any car in the MINI line-up

-      It is the most versatile MINI

-      And the John Cooper Works model features the brand’s most powerful
       engine

China is already a strong market for MINI. Last year we achieved a ten percent increase. And we achieved double-digit growth in the first quarter of this year as well.

That’s because MINI offers one-of-a-kind fascination and emotion.

Now let’s talk about BMW Motorrad. We started selling motorcycles here in China only five years ago. Since then, sales have been growing significantly. We nearly doubled sales from 2014 to 2015 and last year we grew sales by more than 50%.

The Chinese market is becoming more and more important, and we expect substantial growth in the future. You can look forward to further fascinating models soon. Here’s a great one to start with …

This must surely be the most stunning BMW Motorrad ever. This is the exclusive BMW HP4 RACE. RACE – you can take that literally. In terms of technology, the new HP4 RACE is in the same category as current superbike racing machines.

The HP4 RACE is the first motorcycle with a carbon fibre main frame produced industrially using the RTM process. Only the BMW Group has this competence. The wheels are also made of this ultra-light but rigid material. Ready to race, this bike has a dry weight of just 146 kilograms! That means, same performance as a World Championship bike, but lighter!

Any customer lucky enough to take this bike on the racetrack will experience pure emotion. They’ll be among a select few: production will be limited to just 750 units of the BMW HP4 RACE.

And BMW Motorrad really is all about the experience, as I know well.

My personal highlight of 2016 was a bike tour through Tibet – and I want to share a few impressions of that trip with you. What a fantastic landscape for going off-road on a BMW Motorrad.

So you’ve heard a lot about “power” this morning - and there’s more to come.

Dr. Ian Robertson (HonDSc), Member of the Board of Management of BMW AG, Sales and Brand BMW, Aftersales BMW Group

I just can’t get enough of that sound! Now – Peter’s been talking about performance, power and exclusivity. Here’s the answer from BMW:

The world premiere of the all-new BMW M4 CS!

M – the most powerful letter in the world – is once again celebrating performance with a special edition model. After the success of the BMW M4 GTS, this is the second limited edition model of the M4 Coupe. This car starts a new tradition of CS cars positioned between the Competition variants of the M models – and the models used in club and motor sport.

The new CS will be powered by the M4 six-cylinder-engine. It boasts 460 horsepower, with a maximum torque of 600 Nm. Suspension is designed for exceptional sportiness, and Cup tyres come as standard.

And this car breaks the “4-second-barrier” – needing just 3.9 seconds from nought to a hundred. To reach that speed, lightweight construction was essential: many parts are made from carbon fibre.

Customers can look forward to exclusive colours and the BMW M specific OLED rear lights with their 3D effect. Production begins in July, so if you’re a fan – you won’t have to wait much longer!

Of course, BMW M is something very special. For more than four decades, it has played an integral role in shaping the BMW brand. And now let’s get another listen to that great sound!

Here in Shanghai, we are bringing the BMW brand even closer to our customers. We opened the new BMW Experience Center here last month. With over 45,000 m² and a Dynamic Driving Area, I invite everyone to come to the Center and experience the range of our brand – from BMW M to BMW i.

This is just one more facet of our engagement in China. And the vehicle we’re about to see is the perfect example of how we respond to the desires and wishes of our customers in China:

Ladies and Gentlemen,

The World Premiere of the all-new BMW 5 Series Long Wheelbase, created exclusively for Chinese customers!

Manufactured here in China at the new Dadong Plant facilities, the wheelbase has been extended by 13 cm – compared to the standard 5 Series Sedan. That extra space goes to the passengers in the back – something I know our customers here truly appreciate.

This exclusive new car sets the benchmark in aesthetics, driving pleasure and comfort in the premium business sedan segment. It is the most innovative and most connected vehicle in its class. Our customers will really enjoy the seamless communication and entertainment options, as well as the advanced driver assistance systems.

We’ve reduced the weight of this new 5 Series by up to 130 kilograms. That’s the weight of an adult plus their luggage. This means performance is sharper and even more dynamic – and acceleration and fuel efficiency are best in segment! The newly designed chassis was extensively tested here in China – and with new damper technology, it offers supreme ride comfort.

Ladies and Gentlemen,

It’s no wonder that the BMW 5 Series is the best-selling premium model on the Chinese market. I am sure that this stunning vehicle – the third generation of our BMW 5 Series Long Wheelbase – will continue that success story.

The 5 Series embodies the “heart” of the BMW brand and it accounts for around 30% of our BMW sales here. We’ve manufactured and sold around 800,000 5 Series over the years in China. I’m delighted to announce that the all-new BMW 5 Series Long Wheelbase will also be offered as a plug-in hybrid version.

The 5 Series Long Wheelbase will arrive in the showrooms in June and it’s just one of the 14 new products we are launching this year in China.

The BMW Group has already started well this year. We had a great first quarter in China with over 12% growth in sales. Worldwide, we achieved a new all-time high in the first three months by delivering nearly 600,000 BMW Group vehicles.

At the BMW Group, we are driven by our passion for emotional mobility.

And we continue to strive towards our goal of sustainable mobility.

We will electrify all our BMW Group brands and model series and we are aiming to sell 100,000 electrified vehicles this year alone.

We’ve made a good start in the first quarter of 2017, we already doubled electrified sales compared to last year. We look forward to telling you more about that as the year progresses.

Our portfolio is future-proof. And whatever you order, you always get passion and joy.

Thank you.

Mr. Karsten Engel

Dà Jiā Zǎo Shàng Hǎo!  (Good morning everyone)

Last month, we were very proud to hand over the two millionth BMW in China. This was a significant milestone for us and we look forward to welcoming even more customers to the brand in the future.

Today, we are delighted to present some very important new models in Shanghai. These clearly reflect the BMW Group’s confidence in, and commitment to the future of the Chinese market.  

As a successful company and a corporate citizen, BMW will remain firmly committed to social responsibility in China.  In the past 7 years, our “Warm Heart Fund” has involved a significant amount of customers and dealers in public-service activities. Including youth traffic education programs, BMW has helped around half a million people. This is an integral part of our dedication to build a strong foundation for the future.

In 2015, the BMW Group aims to achieve sustainable growth in China, which is aligned with the outlook of the Chinese market. We will continue to focus on the quality of business and customer satisfaction. The growth of the BMW Group in China this year will be driven by our highly attractive product portfolio, which will be enhanced by more than 10 new and revised models.

I would like to highlight that BMW is in a good position to tap into the fast-growing premium SAV and premium compact segments in this market. And you will see more on that very soon.

Our business will also be driven by our highly appealing brand. I’m very proud that our customers continue to perceive the BMW brand as the hallmark of innovation, passion and sustainability.

Let’s now begin with a unique expression of Sheer Riding Pleasure on two wheels – the latest generation BMW S 1000RR, which is setting new standards in the super-sports motorcycle segment. With even sharper performance and particular attention on rider-friendliness, the new S 1000 RR excels in every respect. It will continue to defend its position at the top of the super-sports segment!

2014 was a very successful year for BMW Motorrad.  This year we plan to build upon this success and introduce another 7 new models, including the S1000RR. This will bring our product offer in China to a total number of 16 different models, which covers customer demand in all segments. 

Now I would like to hand over to Dr. Ian Robertson. Thank you very much!

Dr. Ian Robertson

Ni men hao ladies and gentlemen!

It’s great to be back in Shanghai.

China’s combination of strong tradition and a focus on the future is the same blend of qualities that underpins the success of BMW.  Our ties with China are long-standing and we will continue to heavily invest in this market. Over the last five years we have invested more than two billion euros in our Chinese plants.

Annual production capacity will increase from 300,000 to 400,000 units in the next years and we are going to double our range of locally produced models from three to six.

As the world’s leading premium car company, our customers expect us to fulfill their individual wishes and demands.

And given the high demand for BMW vehicles worldwide, we are truly “spot-on” with our product portfolio. The BMW Group just achieved its strongest ever first quarter in sales worldwide. We are very pleased to have achieved solid growth in our key regions of Asia, America and Europe. We’re confident that the new models we’re presenting today will further drive that momentum.

Time and again, BMW has paved the way by creating new segments with truly innovative vehicles. The most recent example is right here - celebrating its Asia premiere in Shanghai.

Ladies and Gentlemen, the BMW 2 Series Gran Tourer!

This is the world’s first premium Multi Purpose Vehicle – the first premium seven-seater in the compact segment. It combines the best of BMW engineering in terms of quality, dynamics, design and safety with great space and flexibility. No other MPV handles, corners or feels as secure as the BMW 2 Series Gran Tourer.

It was designed to maximize space for both passengers and cargo. It offers ample headroom and the panorama roof also enhances the luxurious feeling of “spaciousness”.

With three rows of seats, it can take seven passengers. We are certain that customers will appreciate the ease of adjusting the seats, the elevated seating position, and the intelligent storage options.

And, the Gran Tourer has more safety and connectivity features than any other vehicle in its segment. It offers full-colour Head-up Display, Adaptive Cruise Control and Park Assistant, just to name a few.

We believe that this is a vehicle customers have been waiting for and that there is much potential here in the Chinese market.

Earlier on I talked about how creating new segments is part of BMW’s DNA.

Back in 1999, we celebrated the launch of a brand new concept for premium vehicles: the BMW X5. The BMW Group made the bold decision to create a new premium segment - the Sports Activity Vehicle - and hasn't looked back since.

“The boss” has been delivered to over 1.5 million customers since its debut.

Today, we are entering a new chapter with the BMW X5. We are fulfilling the needs of customers who desire the benefits of a full-size SAV, with zero-emission driving.

I am delighted to present you with the World Premiere of the BMW X5 xDrive40e.

We are very proud of this car. It combines the best of both worlds: the versatility and luxurious ambience of a full-size SAV, together with outstanding efficiency.

It is a great example of how our core models are benefitting from the technology and know-how transfer from BMW i.

Over the long term, we plan to offer every BMW model as a plug-in hybrid version.

China has the potential to become the world’s largest market for new energy vehicles.

As the leader in sustainable mobility, the BMW Group will continue to drive this field forward.

Let’s take a closer look at the BMW X5 with eDrive technology. Driven by a four-cylinder petrol engine with BMW TwinPower Turbo technology and a synchronous electric motor, it provides both a sporty and efficient ride.

The figures speak for themselves:

• Only 3.3 liters of fuel consumption per 100 km
• Emissions of just 77 g CO2/km
• With 313 horsepower!

In electric mode, the BMW X5 xDrive40e offers a range of up to 31 km and a top speed of 120km/h. The intelligent hybrid powertrain control ensures that the engine and the electric motor work together in perfect unison.

The lithium-ion battery is housed under the rear luggage compartment, so there’s no compromise on luggage space. Charging the battery is easy. Simply charge at home from a standard outlet or take advantage of faster charging with the BMW i Wallbox or a public charging station. With BMW 360° ELECTRIC, customers are offered an holistic service concept - covering everything from the supply and installation of the charging station to maintenance, advice and other services. BMW will ensure that customers have everything they need to charge their cars from home.

Catering to customers’ demand for an SAV, as well as emission-free driving, we’re very confident that this vehicle will be a big success here in China and worldwide.

It’s already caught the eye of Hollywood producers. We’re thrilled to once again be involved in a Blockbuster “Mission: Impossible – Rogue Nation” with cutting-edge BMW vehicles, such as the BMW X5 xDrive40e.

Thank you!

Ladies and Gentlemen,

Innovation drives change.

And truly revolutionary innovations can even transform society. There is a powerful idea behind them – and a strong desire to create something better for tomorrow.

This is why we are here today. We are at the starting-blocks of a new era — the era of sustainable mobility.

Welcome to New York City, America’s premier megacity with over 8.3 million residents.

I am delighted to present – for the first time – the BMW i3.

Big changes start small. Looking back in history, we can find many examples of this. Today, the BMW i3 marks the beginning of a new mobility age. To put this into perspective, take a look at the mobile phone in your pocket. We had more than one hundred years of landline telephones. Then came the mobile phone and it completely changed how we interact with our world. The mobile phone opened up business opportunities that no one would have believed possible.

Ladies and Gentlemen,

The car industry has waited well over a century for its own revolution. Today the wait is over. What the mobile phone did for communication, electric mobility will do for individual mobility.

The BMW i3 is more than an evolutionary step —it is a great leap forward. From sketch to street, the i3 is unique in every respect. With the intention of creating a truly sustainable car, we conducted research in megacities around the world.

This included:

• Millions of test miles with our retro-fitted electric cars, MINI E and BMW ActiveE,
  
  
• Years of research in collaboration with Megacity experts around the world, and
  
  
• Thousands of hours talking with customers.

From the start, we redesigned our entire development and production processes. The BMW i3 is purpose-built around an electric powertrain to serve the needs of our megacity customers.

The BMW i3 is Born Electric.

This is premium at its very best.

With every step of the way from development, to production, to after-sales, the BMW i3 sets new benchmarks in sustainable mobility. In the brand-new architecture, we use carbon fibre for the passenger cell — a first in high-volume car production. Our expertise in manufacturing with this material makes the passenger cell extremely strong and light weight. We produce the carbon fibre material using hydroelectric power. And we build the BMW i3 using wind power.

This is an industry first.

Our innovative production methods are also unique.

Carbon fibre components are bonded together in a fully automated process. The bonding techniques we have developed in-house are setting new industry standards.

The innovations of the BMW i3 go beyond R&D and production to include customer experience. 

We will support all of our BMW i3 customers with a comprehensive set of premium service offerings. This approach, “360 Degree Electric”, will make BMW i3 driving enjoyable and easy. Adding to the BMW i3’s relaxing experience is the open interior with its lounge atmosphere.

And of course, the BMW i3 will share one dynamic quality with every other BMW on the road: It will be an Ultimate Driving Machine.

Ladies and Gentlemen,

In response to global trends such as urbanization and increasing carbon emissions, sustainability is an important part of a modern, urban lifestyle. The BMW i3 is the perfect solution to the mobility needs of people here in New York City. Mayor Michael Bloomberg has committed the remainder of his term to making New York City the greenest city on earth by supporting several citywide programs. Foremost, he seeks to improve and expand sustainable transportation infrastructure. We support with Mayor Bloomberg’s efforts to connect public parking spots in NYC for electric vehicle charging – up to 20 percent over the next seven years. This promotes not only sustainable mobility solutions, but also cost savings.

Charging your electric car costs up to 30 percent less than the average of what you now pay at the pump.

Ladies and Gentlemen,

The car has existed for nearly 130 years.

Today marks a shift — a change — in the future of mobility.

The BMW Group is proud to be driving this change. 

Today, the BMW i3 begins a new era:

The era of true sustainable mobility. 

Thank you.

Mr. Karsten Engel:

Good morning! 2012 was a great year for the BMW Group in China: we sold more BMWs and MINIs here than ever before. Our sales and service network continued to expand as well. Today we have more than 370 authorized BMW dealerships here and I am excited to announce that we will also be growing the presence of BMW Motorrad in China.

BMW's strong performance goes hand in hand with our growing commitment to this market. A decade ago, we established our production presence in China. Since then, we have invested 1.5 billion Euros in our production facilities with our joint venture partner, Brilliance Automotive and our close cooperation with BBA
continues. Just last week, together we announced ZINORO, a new car brand designed for the Chinese market. Underpinning BMW's activities in China is not only our strategy development through the BBA joint venture, but also our exclusive partnership with Brilliance Automotive.

Returning to the BMW brand, we recently opened our new BMW Brand Experience Center Shanghai. It showcases the past, present, and future of BMW. Along with our growing business success, we believe our commitment to corporate social responsibility should increase as well. This is why we support social programs through the BMW Warm Heart Fund platform. This Fund is committed to a variety of activities from cultural promotion to educational support here in China.

To stay on the right track towards achieving ongoing growth in China, the BMW
Group remains focused on creating revolutionary, aesthetic, and sustainable
vehicles. To tell you more about our approach, please welcome the Head of
Development at BMW AG, Dr. Herbert Diess.

Dr. Herbert Diess

Good morning, ladies and gentlemen! You're looking at the future of individual
mobility. These are still concept vehicles, but we are bringing series production
versions to the road later this year.

With China's large number of urban areas and the driving habits of customers here, this country is a great place for electro-mobility. The forthcoming BMW i3 and BMW i8 are revolutionary vehicles, purpose-built around an electric power train using Life / Drive architecture.

Life / Drive is an entirely new vehicle concept, making the i3 and i8 truly unique. The Life module is a new way of creating the car's body. It is made out of carbon fiber — a first for series production in the auto industry.

The Drive module is made using lightweight aluminum and it houses the batteries. The low center of gravity is ideal for performance and handling. With our Life / Drive concept and powerful electric drivetrains, BMW i models deliver a new dimension of Sheer Driving Pleasure - especially for urban areas.

Beyond the revolutionary vehicles themselves, the BMW Group is approaching
sustainable mobility from a holistic perspective. This means striving to make the
BMW i value chain as sustainable as possible, including:

- A Hydro-electric powered facility making carbon fiber for the cars;
- A wind energy powered production line; and
- Assistance with home charging options for our customers using the BMW i
Wallbox.

The BMW Group is rewriting the book on sustainable mobility and BMW i is the first chapter. The BMW Group remains focused on the future. We are always working on new products for more customers. At the same time, we aim to offer our customers more ways to experience Sheer Driving Pleasure today. This next vehicle sets out to do just that. Here for its Chinese premiere: the BMW 3 Series Gran Turismo!

Right away, it is clear: The Gran Turismo combines the 3 Series Sedan's dynamics with the functionality of the 3 Series Touring. From the exterior you can see its Coupe-like roofline and a frameless greenhouse. Its generous dimensions give passengers a luxurious sense of space and plenty of legroom.

As well, the seating positions are elevated, allowing for a better view and easier entry and exit from the vehicle. The new 3 Series Gran Turismo is also very practical with 520 liters of cargo space and a wide-opening trunk lid. It looks fantastic and it is highly functional — so the next question is: How does it perform?

There is no doubt the 3 Series GT is made to be driven. With BMW TwinPower
Turbo Technology, the engines available are powerful, cutting-edge, and efficient.

This includes the BMW 335i GT with 306 horsepower: Performance you can
experience when the BMW 3 Series Gran Turismo comes to market in mid June.

Innovative concepts like the new GT put BMW in the lead. In a moment, my
colleague, Ian Robertson, will tell you more about our global success. But first — to make sure we stay out in front — is an innovative new concept: Our next world premiere.

Dr. Ian Robertson

Good morning ladies and gentlemen. I'm delighted to be back in Shanghai —
especially with the BMW Group's ongoing, strong sales in China.

Last year's performance brought momentum into 2013. First quarter sales in
Mainland China increased 8% year over year with 86,000 vehicles sold from
January up to the end of March.

Our performance in China, of course, plays a role in the BMW Group's balanced
global success. We delivered over 448,000 vehicles to customers worldwide in the year up to the end of March. This is our best ever first quarter in sales. This strong performance further confirms that our balanced global strategy is the right one.  

Underpinning our worldwide success is the BMW Group's engineering and design-based focus and we bring this focus into every vehicle through the rare combination of creativity and foresight.

Time and again, we not only envisage new concepts, but also develop new
segments with truly innovative vehicles. The most recent example is right here
celebrating its world premiere in Shanghai, the BMW Concept X4.

Just like its big brother — the BMW X6 — the Concept X4 represents the first
Sports Activity Coupe in its class. With its low profile and dramatic roofline, you can see it has the DNA of a BMW Coupe — but the wide stance and muscular build leave no doubt it's a BMW X vehicle.

The unique character of the Concept X4 also offers fresh interpretations of BMW's iconic design language. You can see the Corona headlights open up to visually connect the lights and kidney grill, creating a wider front presence. As your eyes glide along the side contours, you'll be drawn to the highly dynamic Hofmeister kink at the rear.

 The new Concept X4 shows yet again that BMW is always looking ahead, offering our customers the most emotional, innovative, and desirable vehicles available. This pioneering spirit is also captured in the entire X Family of vehicles, which continue to set the benchmark.

 Even as it takes BMW's design language a step forward, it's obvious the BMW
Concept X4 is right at home with its siblings. After all, the BMW X Family of vehicles were the first and they remain in the lead when it comes to innovation, sportiness, and design.

Back in 1999, we were celebrating the launch of a brand new concept for premium vehicles: the BMW X5. The BMW Group made the bold decision to create a new premium segment — the Sports Activity Vehicle — and hasn't looked back since.

 A few years later, the BMW X3 was a trailblazer as the first vehicle in its class. The ongoing global success of the X3 and the X5 convinced us the world was ready for a powerful and dynamically aesthetic vehicle like no other.

The result, in 2008, was the world's first Sports Activity Coupe, the BMW X6.

Just a year later, the BMW X model line-up continued growing from strength to
strength with the BMW X1. The proverb, "fortune favors the bold", fits the BMW X Family perfectly. To date, over 2.7 million X models have been sold around the globe. And today, one in four new BMWs sold worldwide is an X model. With the BMW X4 available for delivery in 2014, I'm confident this number will grow.