BMW Group Newsroom India

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

#BMW #BMWIndia #SheerDrivingPleasure

Press Contact: Richa Sharma
Tel: +91-124-4566-655
E-mail: richa.sharma@bmw.in

MINI strengthens its India presence. Eminent Cars appointed as new dealer partner in Gujarat.

Tue, 19 May 2026 10:17:00 +0200

Surat. MINI India has appointed Eminent Cars as its new dealer partner in Surat, Gujarat, strengthening the brand’s presence in West India. This strategic entry into one of the region’s most promising luxury automobile markets underlines MINI’s commitment to improving accessibility and deepening customer engagement.

Mr. Hardeep Singh Brar, President and CEO, BMW Group India said, “The launch of MINI in Surat marks a significant step in strengthening our presence in one of India’s most dynamic and entrepreneurial markets. Gujarat’s growing appetite for premium lifestyle brands and differentiated experiences makes it a natural home for MINI’s distinctive character and progressive urban mobility. Together with Eminent Cars, we are creating an integrated Retail.NEXT destination that redefines luxury retail through immersive design, digital innovation and highly personalized customer engagement. We are confident MINI will inspire a new generation of customers in the region who value individuality, creativity and an emotional connection with the brand.”

Mr. Ankur Jain, Dealer Principal, Eminent Cars said, “We are delighted to introduce MINI to Surat, a city that has emerged as one of Gujarat’s most progressive luxury markets with a strong appreciation for innovation, style and individuality. Having built deep expertise in serving premium automotive customers in the region, we understand the evolving aspirations of Surat’s discerning clientele and the importance of delivering experiences that go beyond the product itself. MINI brings a unique blend of iconic design, driving excitement and expressive character that perfectly complements the city’s dynamic spirit. Through our state-of-the-art Retail.NEXT facility, we aim to create an immersive MINI experience and foster a passionate community of customers who connect with the brand’s unconventional and youthful identity.”

The future-forward Retail.NEXT dealership brings BMW and MINI together under one roof, reflecting the brand’s commitment to luxury, innovation and customer satisfaction. The ultra-modern showroom spans 7,500 sq ft and elegantly displays seven vehicles. The showroom is located at Dumas Road, Surat, Gujarat 395007. The workshop is equipped with state-of-the-art equipment and features 10 mechanical bays and seven body and paint bays across 13,100 sq ft, offering comprehensive service support.

The unique living room atmosphere and the cozy placement of seating close to the cars create a relaxed environment for consultations. BMW Geniuses are equipped with innovative digital sales tools to provide comprehensive information on product features and services. The Sales Consultancy Lounges offer dedicated areas for conversations that require a higher degree of privacy, including discussions on financing and leasing. The Multifunctional Handover Bay supports handovers for new and pre-owned cars and is also an ideal starting point for test drives. Its relaxed lounge setting is designed to make every delivery a memorable experience.

The latest range of BMW and MINI merchandise and accessories is showcased in the lifestyle and accessories zone. The Retail.NEXT dealership delivers extremely high standards across Sales, Service and Business Systems, ensuring customers receive a best-in-class pre- and post-sales ownership experience. Battery Electric Vehicle (BEV) users can also charge their electric vehicles (EVs) at the dealership.

Additionally, the Retail.NEXT showroom orchestrates elements such as lighting, sound, temperature, product staging and décor to create a cohesive experience.

Press Contact: Richa Sharma
Tel: +91-124-4566-655
E-mail: richa.sharma@bmw.in

Unstoppable Momentum Powers BMW Group India’s Best Ever Q1.

Wed, 08 Apr 2026 09:20:00 +0200

Gurugram. BMW Group India has posted its highest-ever Q1 car sales, registering consistently high double-digit growth in an otherwise moderate segment performance. The company sold 4,567 cars in first quarter of calendar year 2026, achieving high growth of +17% year-on-year (YoY). The year started off on a very positive note with every month recording its best-ever sales.

Mr. Hardeep Singh Brar, President and CEO, BMW Group India said, “BMW Group India has entered 2026 in an extremely strong position. We have achieved our highest-ever Q1 sales, registering solid double-digit growth, despite macroeconomic and geopolitical headwinds. Our lead in India’s luxury electric mobility also continues thanks to the immense trust our valued customers have put in our electric offerings in terms of performance, EV ecosystem and technology. We are geared to a pulsating 2026 that will be marked by our most ambitious product offensive, with 4 already launched and 23 more to go. Sustaining this momentum into long-term success, our unwavering focus on customer experience, aftersales and brand connect will be taken to the next level. With each new car, we aim to deliver JOY to our customers who enable this success story for BMW Group India.”

Electric Vehicles (EV)

Making electric mainstream in the luxury segment, BMW Group India is the most preferred luxury EV brand. The electric lead continued in Q1 with 1,185 BMW and MINI EVs sold, achieving +83% growth YoY. Every fourth car BMW Group India sells today is an EV. The company commands the largest market share of over 70% in luxury electric segment in India. The EV penetration to total sales stood at 26% in Q1.

BMW Group India continues to strengthen its leadership in luxury electric mobility with a comprehensive and highly curated luxury EV ecosystem. The brand offers an unmatched blend of cutting‑edge electric products with long range and high performance, extensive charging convenience, assured buy‑back value and an attractive cost of ownership. BMW Group India has expanded its customer‑centric initiatives with offerings such as Destination Charging, Smart E‑Routing, Charging Concierge and the High-Power Charging Corridor. Through partnerships with leading service providers, BMW and MINI customers now enjoy access to over 6,000 charging points nationwide, comprising of a high number of DC chargers. The company also boasts the widest EV portfolio in the luxury segment, spanning six electric cars and two electric scooters: BMW i7, BMW iX, BMW i5, BMW iX1 Long Wheelbase, MINI Countryman E, MINI Countryman SE ALL4, BMW CE 04 and BMW CE 02.

Long Wheelbase Range

BMW Long Wheelbase models redefine comfort, luxury and performance, while retaining the core of the BMW DNA, that is Sheer Driving Pleasure. In Q1, Long Wheelbase models accounted for over 50% of sales with growth of +23% YoY and sales of 2,256 units.

Sports Activity Vehicles (SAV)

BMW Group India SAVs recorded an even faster pace of growth at +38% YoY at 2,966 units. Highly favoured among the luxury SAV enthusiasts, their share in sales today stands at 65%.

MINI

MINI made a mighty leap in the first quarter, delivering 213 units and achieving an impressive growth of +42%. With an expanded range and wider appeal, customers showed equal enthusiasm for the Hatch, Convertible and Countryman models. Strengthening its portfolio further, MINI introduced exciting new launches in recent months, including the MINI Convertible, MINI Countryman JCW ALL4 and MINI Countryman SE ALL4, drawing in even more fans to the brand’s iconic charm and spirited performance.

BMW Motorrad

BMW Motorrad delivered 1,216 motorcycles in Q1 2026. Demand was driven by BMW G 310 RR, BMW S 1000 RR, BMW 900 GS / GSA, BMW 1300 GS / GSA.

Power-Packed Year

In 2026, BMW Group India will launch 27 new products, including all-new generation models, major facelifts and special limited editions from BMW, MINI and BMW Motorrad. Exciting four new launches in Q1 include the all-new BMW M2 CS, BMW X3 30, BMW M 1000 R and MINI Cooper S Victory Edition. In Q2, eight products and editions will hit the market.

Integrated Brand Engagements Where Passion Meets Community

BMW Group India is also significantly investing in strengthening the community of owners and fans by dialing up new experiences along with established platforms. Engagements such as BMW M Drift Academy, Womens’ Power Drive, BMW Golf Cup, MINI Go-Kart Days, BMW GS Experience have garnered excellent response from participants. In addition, BMW’s long-standing cultural engagements in the sphere of art with India Art Fair, Kochi Muziris Biennale, provide a space for luxury connoisseurs to appreciate the joy of creativity. BMW Excellence Club further adds exclusivity with curated luxury experiences in travel, lifestyle and sports.

Retail.NEXT: Redefining the Luxury Experience

With launch of Retail.NEXT, BMW Group India aims to create a future-forward retail space that not only showcases its vehicles but also embodies the brand’s commitment to luxury, innovation, and customer satisfaction. Today, the total number of touchpoints across the three brands is 97 in 40 cities. In 2026, the company will add 19 outlets in 18 cities.

BMW India Financial Services

In Q1 2026, 1 out of every 4 BMWs that was financed was through BMW India Financial Services. Through its innovative ‘BMW Smart Finance’ solutions, BMW India Financial Services delivers a compelling value proposition and complete peace of mind. The tailored financial products offer attractive benefits such as up to 40% lower monthly instalments, assured buy-back of up to 74% of the ex-showroom price, flexible end-of-term options, and the freedom to upgrade to a new car with ease. By making ownership more accessible and hassle-free, BMW India Financial Services plays a crucial role in enabling sales and driving customer loyalty for the group brands.

If you have any queries, please contact:

BMW Group India

Richa Sharma, Head of Press and Corporate Affairs

Cell: +91 99100 22148; Email: Richa.Sharma@bmw.in

Satchit Gayakwad, Marketing, Network Performance and Customer Support Communication

Cell: +91 98925 79925; Email: Satchit.Gayakwad@bmw.in

Internet: www.bmw.in

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

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

Press Contact: Richa Sharma
Tel: +91-124-4566-655
E-mail: richa.sharma@bmw.in

Stable Group earnings thanks to consistent strategy: BMW Group on track

Thu, 12 Mar 2026 07:53:31 +0100

Munich. Consistency and resilience: The BMW Group maintained its course in 2025, despite substantial headwinds. Thanks to its attractive model line-up across all drive technologies, its growing and globally balanced business model and disciplined cost management, the BMW Group once again achieved Group earnings before tax of over € 10 billion. Despite significant additional tariff headwinds, the company reported a stable Group EBT margin of 7.7%
(2024: 7.7%). As in the previous year, Group net profit totalled more than € 7 billion, laying the foundation for a proposed dividend payment in line with the 2024 figure.

“Strategic vision, strong operating performance and high reliability have always been hallmarks of the BMW Group. We set our course for the company’s future success early on, relying on three strong pillars: our technology-neutral approach, our extensive global footprint and our inspiring brands and products,” said Oliver Zipse, Chairman of the Board of Management of BMW AG. “Over the past years, we have adopted the right strategic positioning. We are benefiting from that today: In a challenging environment, we do not need to change direction but can maintain our course and continue implementing our strategy systematically.”

Technology-neutral approach as key success factor in global competition

The diversity of its product range remains a key success factor for the BMW Group: With a broad drive train portfolio spanning internal combustion engines, plug-in hybrids, battery-electric drive trains and, from 2028, hydrogen fuel cells, the company is laying the foundation to meet globally diverse requirements and customer needs, both today and in the future.

At the same time, this approach is also key to effective CO₂ reduction: In 2025, the company slightly overfulfilled the ambitious targets of the European Union (EU 27+2), with fleet emissions of 90 grams per kilometre – without relying on instruments such as pooling or temporal staggering. This underlines once again how a technology-neutral approach and climate protection go hand in hand at the BMW Group.

Battery-electric vehicles (BEVs) remain growth driver for BMW Group

In financial year 2025, the BMW Group increased its BEV sales worldwide to 442,056 units (+3.6%), representing 17.9% of its total sales. This means that one in six BMW Group vehicles sold was fully electric. At MINI, the percentage was even higher, with one in three vehicles already fully electric.

Plug-in hybrids (PHEVs) also remain an essential component of the technology-neutral approach and the electrification of the model range: In total, the BMW Group delivered 642,071 electrified vehicles, including plug-in hybrids (PHEVs and BEVs) in 2025, meaning that one in four vehicles was electrified. In Europe, the proportion was even higher, where 40 percent of BMW Group vehicles were either fully electric or plug-in hybrids.

2026 electrification milestone: Two million BEVs delivered to customers

In 2025, the BMW Group reached two major electrification milestones since the debut of the BMW i3 and BMW i8 in 2013: In June, the 1.5-millionth fully-electric vehicle was handed over to its new owner. This was followed in August by the three-millionth electrified vehicle. The next milestone will come this year, with the two-millionth fully-electric vehicle.

“With our wide range of electrified vehicles, we have secured ourselves a strong competitive position. We remain true to our role as pioneers and continue to expand our BEV line-up: By the end of this year, we will offer our customers 20 fully-electric cars,” said Zipse.

Strong brands and attractive product line-up with diverse drive train portfolio

With 2,463,681 premium vehicles delivered to customers in financial year 2025, BMW Group sales reached the same high level as in 2024 (2024: 2,450,854 units; +0.5%). Thanks to its globally balanced footprint, the company was able to offset its decline in sales in China (-12.5%) with gains in other regions, reporting solid growth in Europe (+7.3%) and the Americas (+5.6%).

The main growth drivers included the BMW 5 Series, with sales up by more than a quarter, and the compact BMW X2, which rose by 33%. For the 14th consecutive year, BMW M GmbH deliveries reached a new all-time sales high of 213,449 units (2024: 206,587 units; +3.3%), with the BMW M2 Coupé* and the M3* family as the best-selling models. For the first time, one in ten BMWs delivered was a BMW M model. On the fully-electric side, the BMW i5*, BMW iX2* and BMW iX1* models all saw significant growth.

In 2025, the top-selling model in the rapidly growing MINI family, with a total of 288,278 deliveries (2024: 244,925 units; +17.7%), was the MINI Countryman*. The MINI Aceman*, the new MINI Convertible* and the fully-electric MINI Cooper* models led the MINI brand to significant growth. With more than 105,000 BEVs delivered to customers, fully-electric vehicles accounted for over 36% of sales.

The Rolls-Royce luxury brand matched the level of the previous year, with 5,664 deliveries (2024: 5,712 units; -0.8%). The Rolls-Royce Cullinan and fully-electric Spectre models were the most in demand.

BMW Group meets 2025 targets

As projected, the BMW Group achieved its business objectives for 2025. Thanks to its attractive line-up, the BMW Group reported revenues of € 133,453 million for the full year (2024: € 142,380 million; -6.3%; adjusted for currency translation
effects: -3.9%). This reflects the intense competition in the automotive sector, particularly in China. Furthermore, negative currency translation effects, primarily from the US dollar, Korean won and Chinese renminbi, also had an impact.

Lower R&D spending and capital expenditure as planned

As previously announced, the BMW Group’s investments in the future have declined from their peak: Research and development spending totalled € 8,319 million in 2025 – a moderate decrease from the previous year (2024: €9,078 million; -8.4%). Expenditure for research and development is largely focused on digitalisation and electrification of the vehicle fleet across all model series. It also includes spending for the development of NEUE KLASSE models, such as the BMW iX3* and the successor models to the BMW X5 and BMW 7 Series. The R&D ratio for the full year decreased to 6.2% (2024: 6.4%). As planned, capital expenditure for the full year also declined significantly to € 7,237 million (2024: € 9,056 million; -20.1%), with a capex ratio of 5.4%.

The BMW Group was also able to reduce sales and administrative expenses in line with forecasts, lowering costs by 6.1% to € 10,606 million (2024: € 11,296 million).

“Our disciplined active cost management strengthened our performance in 2025: Compared with the previous year, as promised, we were able to streamline our cost structures in line with planning, by reducing R&D expenditure, sales and administrative expenses as well as manufacturing and material costs. A total reduction in expenses of € 2.5 billion has benefited our profitability. We will continue systematically lowering costs this year, in line with our planning," said Walter Mertl, member of the Board of Management responsible for Finance.

Group EBT margin in line with previous year

In 2025, despite significant tariff headwinds, the BMW Group once again achieved Group earnings before tax (EBT) of more than € 10 billion (€ 10,236 million; 2024: € 10,971 million; -6.7%). The Group EBT margin of 7.7% (2024: 7.7%) was on a par with the previous year. Group net profit once again exceeded € 7 billion, at € 7,451 million (2024: € 7,678 million; -3.0%).

Automotive EBIT margin within target range of 5 to 7%

Automotive Segment earnings before financial result (EBIT) totalled € 6,259 million (2024: € 7,893 million; -20.7%). The EBIT margin of 5.3% (2024: 6.3%) was within the target range of 5 to 7%, as forecast in March 2025. Excluding depreciation and amortisation for BBA assets from the purchase price allocation, the EBIT margin was 6.4%. As forecast, the additional impact of tariffs in 2025 lowered the margin by approx. 1.5 percentage points.

The Automotive Segment’s free cash flow for the full year totalled € 3,240 million (2024: € 4,852 million). Cash inflows from operating activities decreased year-on-year, partially offsetting the lower investment activity. Due to the reduction in inventories, working capital also had a positive effect on the segment’s cash inflows. The segment’s free cash flow is projected to exceed € 4.5 billion in 2026.

The Financial Services Segment reported a slight increase in the number of new credit financing and leasing contracts in 2025. This was primarily driven by positive business development in Europe and an improvement in the Chinese competitive environment in the second half of the year, after local banks substantially reduced their commission rates for brokering of financial and insurance products to retail customers.

As a consequence, the segment’s volume of new business also increased slightly, despite negative currency translation effects, reaching € 65,818 million for the full year (2024: € 64,519 million/+2.0%). The penetration rate, the percentage of new BMW Group vehicles leased or financed by the Financial Services Segment, climbed to 46.6% duringthe reporting year (2024: 42.6%/+4.0 percentage points).

Segment profit before tax (PBT) for the full year 2025 amounted to
€ 2,401 million (2024: € 2,538 million/-5.4%). The decrease was primarily due to lower income from the sale of lease returns and a tax arrears payment required as a result of a revised operational tax assessment relating to previous years.

Dividend payout and payout ratio in line with previous year

The BMW Group ensures that its shareholders consistently benefit from the company’s success. Its sustainable dividend policy offers shareholders a reliable return on investment.

“In 2025, the BMW Group achieved a stable EBT margin of 7.7%, with pre-tax earnings once again exceeding € 10 billion. Thanks to a stable year-on-year profit attributable to shareholders of BMW AG, we are proposing a total dividend payment of € 2,672 billion, comparable to the previous year, with a stable payout ratio of 36.6%,” said Mertl.

The payout ratio is thus at the high end of the target range of 30-40% of net profit attributable to the shareholders of BMW AG.

The Annual General Meeting in May 2025 authorised the Board of Management to buy back up to 10% of BMW AG’s share capital over the next five years. Based on this new authorisation, the Board of Management approved a third share repurchase programme with a volume of up to € 2 billion,to be completed no later than 30 April 2027. By December 2025, the first tranche of shares, with a value of € 750 million, had been repurchased.

As of 31 December 2025, BMW AG held 8,682,146 shares, with a nominal value of
€ 8,682,146. This is equivalent to 1.41% of the share capital as of 31 December 2025.

At this year’s Annual General Meeting on 13 May 2026, the Board of Management and Supervisory Board will propose a dividend of € 4. 40 per share of common stock (2024: € 4.30) and € 4.42 per share of preferred stock (2024: € 4.32). Furthermore, at a separate meeting of preferred shareholders held on same day, the Board of Management and Supervisory Board will propose the 1:1 conversion of all shares of preferred stock into common stock with voting rights, without any additional payment obligation.

NEUE KLASSE ramp-up begins in 2026

During the current financial year, the ramp-up of the NEUE KLASSE will gain speed, starting out with two models at the heart of the BMW brand: Since its world premiere at the International Motor Show (IAA) in September 2025, the fully-electric BMW iX3 has seen extremely strong demand – among pre-ordered fully-electric BMW vehicles in Europe, one in three orders is for a BMW iX3. Due to the high demand, the plant in Debrecen, Hungary, is already operating in two shifts. The second NEUE KLASSE model – the fully-electric BMW i3– will celebrate its design premiere next week in Munich.

“With the successful launch of the NEUE KLASSE, we demonstrated in 2025 that we are leading the BMW brand into the future, with new technology clusters and a fresh design language. The extraordinarily high demand for the first model, the BMW iX3, proves that pioneering spirit, innovation and courage deliver results,” said Zipse. “We will maintain the high pace of our innovation rollout as we introduce the technologies of the NEUE KLASSE across our entire portfolio: Between now and 2027, we will present more than 40 new or updated models. These will also include the BMW 3 Series and BMW X5: two all-new models in two of our key segments, offered with all drive train variants. In this way, we are ushering in a new era of technology neutrality at the BMW Group.”

Forecast for financial year 2026

The BMW Group anticipates the following developments during financial year 2026: Given the current economic outlook for 2026, the global automotive markets are expected to develop in a stable manner. The company anticipates growth potential overall for Europe and the USA. Based on the average sales volume of recent months, sales in China are expected to remain approximately at the previous year's level.
Globally, the company forecasts that deliveries will be on a par with the previous year and that fully-electric vehicles will account for the same share of sales as last year.

For financial year 2026, the BMW Group assumes that headwinds from higher tariffs will further impact the EBIT margin in the Automotive Segment by about 1.25 percentage points. Mitigation measures have already been considered.

Regarding forecast values: In addition to the aforementioned tariff-related burdens, the EBIT of the Automotive Segment will be impacted year‑on‑year by higher negative effects from currencies and raw materials, by rising depreciation and a significantly lower capitalization rate, as well as by overall lower revenues resulting from the declining used‑car market. In China, the price and product measures adopted to stabilize transaction prices will have a negative year‑on‑year effect, particularly in the first half of the year.
The planned cost reductions in capital expenditure, material and manufacturing costs, in research and development activities, as well as in selling and administrative expenses will partially offset these burdens.

The EBIT margin for the Automotive Segment is therefore forecast to be within the range of 4 to 6%. RoCE should be between 6 to 10%.

In the Financial Services Segment, RoE is projected to be between 13 to 16%. A further decline in the used car markets and lower income from the resale of end-of-lease vehicles compared to 2025 are anticipated.

In the Motorcycles Segment, deliveries are forecast to be on a par with the previous year, with an EBIT margin within the range of 4.0 to 6.0% and a RoCE of 10 to 14%.

In light of the forecast developments, a moderate decline in Group earnings before tax is expected for 2026.

The BMW Group’s actual business performance may deviate from these expectations – for example, due to changes in political and macroeconomic conditions.

Proposal for the election of a Supervisory Board member

The Supervisory Board will propose to the Annual General Meeting that Dr Christian Bruch, Chief Executive Officer of Siemens Energy AG, be newly elected to the Supervisory Board for a term of four years.

* * *

The BMW Group Report 2025 will be published on 12 March 2026 at 7:30 a.m. (CET) at https://www.bmwgroup.com/de/investor-relations/unternehmensberichte.html. The BMW Group Annual Conference taking place on 12 March 2026 as virtual event can be watched live in the internet from 8:00 a.m. (CET) at: https://www.live.bmwgroup.com/en/live-streaming/, followed by the livestream of the journalist Q+A at the Annual Conference from 9:00-10:00 a.m. From 11:00 a.m.-12:00 p.m. will follow the livestream of the Investor Relations Q+A with analysts at https://www.bmwgroup.com/en/investor-relations/annual-conferences.html.

The BMW Group – an overview: GJ 2025		YTD Q4 2025	YTD Q4 2024	Change in %
Deliveries to customers
Automotive¹	units	2,463,681	2,450,854	+0.5
thereof: BMW	units	2,169,739	2,200,217	-1.4
MINI	units	288,278	244,925	17.7
Rolls-Royce	units	5,664	5,712	-0.8
Motorcycles	units	202,563	210,385	-3.7

Employees (as of 31 Dec. 2025)		154,540
EBIT margin Automotive Segment	percent	5.3%	6.3%	-1.0 %-point
EBIT margin Motorcycles Segment	percent	5.7%	6.1%	-0.4 %-point
EBT margin BMW Group²	percent	7.7%	7.7%	-

Revenues	€ million	133,453	142,380	-6.3
thereof: Automotive	€ million	117,557	124,917	-5.9
Motorcycles	€ million	3,143	3,220	-2.4
Financial Services	€ million	39,806	38,562	3.2
Other Entities	€ million	12	14	-14.3
Eliminations	€ million	-27,065	-24,333	-11.2

Profit before financial result (EBIT)	€ million	10,186	11,509	-11.5
thereof: Automotive	€ million	6,259	7,893	-20.7
Motorcycles	€ million	178	198	-10.1
Financial Services	€ million	2,411	2,511	-4.0
Other Entities	€ million	0	-25	-
Eliminations	€ million	1,338	932	43.6

Profit before tax (EBT)	€ million	10,236	10,971	-6.7
thereof: Automotive	€ million	5,945	7,544	-21.2
Motorcycles	€ million	174	198	-12.1
Financial Services	€ million	2,401	2,538	-5.4
Other Entities	€ million	1,087	837	29.9
Eliminations	€ million	629	-146	-

Group income taxes	€ million	-2,785	-3,293	-15.4
Net profit	€ million	7,451	7,678	-3.0
Earnings per share of common stock	€	11.89	11.62	2.3
Earnings per share of preferred stock³	€	11.91	11.64	2.3
¹ Deliveries include the joint venture BMW Brilliance Automotive Ltd., Shenyang.
²Ratio of Group earnings before taxes to Group revenues.
³ Common/preferred shares. Earnings per share of preferred stock are calculated by distributing the earnings required to cover the additional dividend of € 0.02 per preferred share proportionally over the quarters of the corresponding financial year.

The BMW Group – an overview: IN Q4 2025		IN Q4 2025	IN Q4 2024	Change in %
Deliveries to customers
Automotive¹	units	667,947	696,697	-4.1
thereof: BMW	units	584,357	616,714	-5.2
MINI	units	82,026	78,241	4.8
Rolls-Royce	units	1,564	1,742	-10.2
Motorcycles	units	43,407	46,969	-7.6

Employees (as of 31 Dec. 2025)		154,540
EBIT margin Automotive Segment	percent	3.7%	5.5%	-1.8 %-points
EBIT margin Motorcycles Segment	percent	-15.1%	-6.8%	-8.3 %-points
EBT margin BMW Group²	percent	6.5%	5.8%	0.7 %-point

Revenues	€ million	33,454	36,416	-8.1
thereof: Automotive	€ million	30,393	34,054	-10.8
Motorcycles	€ million	621	657	-5.5
Financial Services	€ million	10,095	9,964	1.3
Other Entities	€ million	3	4	-25.0
Eliminations	€ million	-7,658	-8,263	7.3

Profit before financial result (EBIT)	€ million	2,122	1,882	12.8
thereof: Automotive	€ million	1,139	1,865	-38.9
Motorcycles	€ million	-94	-45	-
Financial Services	€ million	544	312	74.4
Other Entities	€ million	9	-12	-
Eliminations	€ million	524	-238	-

Profit before tax (EBT)	€ million	2,180	2,110	3.3
thereof: Automotive	€ million	1,040	1,781	-41.6
Motorcycles	€ million	-96	-46	-
Financial Services	€ million	565	392	44.1
Other Entities	€ million	315	458	-31.2
Eliminations	€ million	356	-475	-

Group income taxes	€ million	-441	-564	-21.8
Net profit	€ million	1,739	1,546	12.5
Earnings per share of common stock	€	2.92	2.41	21.2
Earnings per share of preferred stock³	€	2.93	2.42	21.1
¹Deliveries include the joint venture BMW Brilliance Automotive Ltd., Shenyang.
²Ratio of Group earnings before taxes to Group revenues.
³ Common/preferred shares. Earnings per share of preferred stock are calculated by distributing the earnings required to cover the additional dividend of € 0.02 per preferred share proportionally over the quarters of the corresponding financial year.

GLOSSARY – explanatory comments on key performance indicators

Deliveries to customers

A new or used vehicle is recorded as a delivery once it is handed over to the end user (which also includes leaseholders under lease contracts with BMW Financial Services). In the US and Canada, end users also include (1) dealers when they designate a vehicle as a service loaner or demonstrator vehicle and (2) dealers and other third parties when they purchase a company vehicle at auction and dealers when they purchase company vehicles directly from the BMW Group. Deliveries may be made by BMW AG, one of its international subsidiaries, a BMW Group retail outlet, or independent third-party dealers. The vast majority of deliveries – and hence the reporting of deliveries to the BMW Group – is made by independent third-party dealers. Retail vehicle deliveries during a given reporting period do not correlate directly to the revenues that the BMW Group recognises in respect of that particular reporting period.

Payout ratio

The payout ratio is preliminary. Although the Board of Management and the Supervisory Board will propose a fixed dividend per share at the Annual General Meeting, the number of shares entitled to a dividend is expected to fall by the Annual General Meeting due to the ongoing share buy-back programme. Accordingly, the total amount to be distributed to shareholders is also still expected to change by 13 May.

EBIT

Profit before financial result. Profit before financial result comprises revenues less cost of sales, less selling and administrative expenses and plus/minus net other operating income and expenses.

EBIT margin

Profit/loss before financial result as a percentage of revenues.

EBT

EBIT plus financial result.

PHEV

Plug-in-hybrid electric vehicle - hybrid vehicle with petrol engine and electric drive.

If you have any questions, please contact:

BMW Group Corporate Communications

Dr Britta Ullrich, Finance Communications

Telephone: +49 89 382-18364

Email: britta.ullrich@bmwgroup.com

Sebastian Keßler, Communications BMW Group, Strategy

Telephone: +49 89 382-21616

Email: Sebastian.KE.Kessler@bmwgroup.com

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

Telephone: +49 89 382-24118

Email: Max-Morten.Borgmann@bmwgroup.com

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

The BMW Group

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

In 2025, the BMW Group sold 2.46 million passenger vehicles and more than 202,500 motorcycles worldwide. The profit before tax in the financial year 2025 was € 10.2 billion on revenues amounting to € 133,5 billion. As of 31 December 2025, the BMW Group had a workforce of 154,540 employees.

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

www.bmwgroup.com

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

YouTube: https://www.youtube.com/bmwgroup

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

Facebook: https://www.facebook.com/bmwgroup

Press Contact: Richa Sharma
Tel: +91-124-4566-655
E-mail: richa.sharma@bmw.in

DRIVE YOUR MATCH: BMW India Unveils its new Ad Campaign.

Mon, 19 Jan 2026 08:33:00 +0100

Gurugram. BMW India announced the launch of its latest advertisement campaign, ‘DRIVE YOUR MATCH’, a strategic evolution of its communication approach that elevates the idea of choice into one of discovery, recognition, and self-expression. The new campaign focuses on how customers connect with the brand, positioning every BMW not as a mass-market option, but as a precise match to an individual’s personality, aspirations, and lifestyle.

Mr. Vitesh Barar, Director, Marketing, BMW India, said, “BMW has always stood for progressive luxury, driving pleasure and individuality. With DRIVE YOUR MATCH, we elevate the conversation from owning a car to recognising a reflection of who you are. This campaign celebrates the deep, personal connection our customers share with the brand, while showcasing the versatility of our portfolio in a way that remains distinctly premium. In India, where aspirations are deeply personal and evolving, ‘DRIVE YOUR MATCH’ reinforces BMW as the perfect partner in every individual journey.”

Building on the brand route ‘For Every You, there’s a BMW’, the new advertisement campaign sharpens the narrative by moving from literal accessibility to meaningful alignment. DRIVE YOUR MATCH reframes versatility as premium precision, where finding the right BMW is not about selection, but recognition. At the heart of the campaign is a powerful insight: customers don’t choose a BMW, they recognise the one that reflects who they are. Through the lens of matchmaking, BMW becomes a natural extension of identity, where every interaction with the brand is a joyful moment waiting to be discovered. The campaign leads with exclusivity and self-actualisation, while seamlessly showcasing the breadth of BMW’s products, services, and experiences.

The campaign serves as a unifying communication platform that brings together BMW’s complete portfolio in India, with a confident, call-to-action driven tone. It reinforces the brand’s premium aspiration while celebrating individuality, ensuring consistency across touchpoints and campaigns through mid-2026.

With DRIVE YOUR MATCH, BMW India continues to strengthen its brand aspiration, transforming versatility into a statement of precision, and every BMW into a moment of recognition waiting to be driven.

If you have any queries, please contact:

BMW Group India

Richa Sharma, Press and Corporate Affairs

Cell: +91 99100 22148; Email: Richa.Sharma@bmw.in

Satchit Gayakwad, Press and Corporate Affairs

Cell: +91 95607 25900; Email: Satchit.Gayakwad@bmw.in

Internet: www.bmw.in

Facebook: https://www.facebook.com/bmwindia

X: https://x.com/bmwindia

YouTube: https://www.youtube.com/user/bmwindia

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

LinkedIn: https://www.linkedin.com/company/bmw-india/

#BMW #BMWIndia #BMWIndia_Official #SheerDrivingPleasure

Press Contact: Richa Sharma
Tel: +91-124-4566-655
E-mail: richa.sharma@bmw.in

Unstoppable High-Performance Drive: BMW Group India delivers record-breaking annual sales with high growth momentum.

Thu, 08 Jan 2026 13:59:10 +0100

Gurugram. BMW Group India has once again posted its highest-ever annual car sales, registering consistently high performance in a dynamic business environment. The company sold 18,001 cars in calendar year 2025, achieving high growth of +14% year-on-year (YoY). BMW delivered 17,271 units and MINI 730 units. BMW Motorrad delivered 5,841 motorcycles.

Reinforcing strong fundamentals and high brand admiration among Indian consumers, BMW Group India has been consistently delivering double-digit growth and highest-ever sales for the last four years. In 2025, every month and every quarter stood out with highest-ever sales performance, with quarterly growth rates higher than that of average luxury segment in India. Quarter 4 (Oct – Dec) car sales were at an all-time high of 6,023 units with +17% growth YoY.

Mr. Hardeep Singh Brar, President and CEO, BMW Group India said, “2025 has been a record-breaking year for BMW Group India with highest-ever sales till date. We crossed the 18,000 units mark in car sales and the fact that we are growing very strongly at +14%, above the average growth rate of luxury segment, reflects the strong aspiration and trust that our valued customers have in our brands. Sales are growing across segments, whether it is internal combustion engines or electric vehicles, SAVs or sedan or long wheelbase models. Our lead in luxury electric segment is not only progressing sustainable mobility but also unlocking the potential for increasing the size of luxury car market in India. Going forward, we will keep our focus on what differentiates us – sheer driving pleasure, unparalleled customer centricity and a robust dealer network which delivers JOY at each step of interaction with our customers.”

BMW Group India undertook an aggressive product offensive in 2025, launching 20 new products across the BMW, MINI, and BMW Motorrad brands. This diverse rollout ensured the most compelling luxury portfolio including significant new generation launches such as BMW iX1 Long Wheelbase, BMW X3, BMW 2 Series Gran Coupe, MINI JCW Countryman All4 and MINI Convertible. The motorcycle segment was further bolstered by the arrival of the BMW R 1300 GS Adventure and the high-performance BMW S 1000 RR.

Electric Vehicles (EV)

As a pioneer in sustainable mobility, BMW Group India continues to be the most preferred luxury EV brand in 2025 as well. 3,753 BMW and MINI EVs were delivered in 2025 with +200% growth YoY. The demand for BMW and MINI EVs continues to grow post GST 2.0, thanks to cutting edge product substance and brand trust.

BMW Group India commands the largest market share in luxury electric segment in India. The EV penetration to total sales stood at 21%, up from 8% last year.BMW EVs are segment leaders both at the top-end – BMW i7 - and at the entry level – BMW iX1. The iX1 was the highest-selling EV not only for the company, but also for the premium EV segment in India.

BMW Group India has created a coveted luxury electric ecosystem with a perfect combination of excellent products, charging convenience, assured buy-back and attractive cost of ownership. In 2025, a host of initiatives were launched, keeping the customer requirements in focus, such as Destination Charging, Smart E-Routing, Charging Concierge, High Performance Electric Corridor among others. Moreover, BMW and MINI customers can access more than 6,000 charging points in partnership with leading service providers. The widest EV lineup in luxury segment comprises seven cars and two scooters: BMW i7, BMW iX, BMW i5, BMW i4, BMW iX1 Long Wheelbase, MINI Countryman E, MINI Countryman SE ALL4, BMW CE 04, and BMW CE 02.

Long Wheelbase Range

Long Wheelbase models in the BMW range continued to perform well and noted growth of +162% YoY with sales of 8,608 units. The long wheelbase models now contribute 50% to BMW sales as compared to 29% last year. The Indian luxury consumers prefer these models thanks to their generous space, luxurious ambience and immense comfort built for Indian roads. The 3 Series was the highest-selling premium sedan for BMW as well as in its segment.

Sports Activity Vehicles (SAV)

BMW Group India SAVs recorded growth of +22% YoY at 10,748 units. Highly preferred due to its versatility, space and dynamics, SAV segment commands a share of 60% of total sales. BMW X1 was the highest selling SAV followed by BMW X5.

MINI

MINI India delivered 730 units in 2025, registering a growth of +3% YoY. The brand expanded its model portfolio with new product launches such as MINI Convertible, MINI Countryman JCW ALL4 and MINI Countryman SE ALL4 in the last quarter. The best-selling model MINI Cooper S saw growth of +47% YoY.

BMW Motorrad

BMW Motorrad delivered 5,841 motorcycles in 2025. The BMW G 310 RR was highest-selling smart-cc bike and saw a growth of +24% in deliveries. BMW Motorrad was the leading premium motorcycle brand in India in high-performance bike segment. The portfolio of high-end imported bikes saw +7% growth YoY, with the BMW S 1000 RR, BMW 900 GS / GSA, BMW 1300 GS / GSA being most in demand.

Retail.NEXT: Immersive retail concept transforming customer experience

With launch of Retail.NEXT, BMW Group India aims to create a future-forward retail space that not only showcases its vehicles but also embodies the brand’s commitment to luxury, innovation, and customer satisfaction. Today, the total number of touchpoints across the three brands is 97 in 40 cities. In 2026, the company will add 19 outlets in 18 cities.

BMW India Financial Services

Through its innovative ‘BMW Smart Finance’ solutions, BMW India Financial Services delivers a compelling value proposition and complete peace of mind to customers. The tailored financial products offer attractive benefits such as low monthly instalments, assured buy-back, flexible end-of-term options, and the freedom to upgrade to a new car with ease. By making ownership more accessible and hassle-free, BMW Financial Services plays a crucial role in enabling sales and driving customer loyalty for the group brands in India.

If you have any queries, please contact:

BMW Group India

Richa Sharma, Head of Press and Corporate Affairs

Cell: +91 99100 22148; Email: Richa.Sharma@bmw.in

Satchit Gayakwad, Marketing, Network Performance and Customer Support Communication

Cell: +91 98925 79925; Email: Satchit.Gayakwad@bmw.in

Internet: www.bmw.in

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

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

Press Contact: Richa Sharma
Tel: +91-124-4566-655
E-mail: richa.sharma@bmw.in

Setting the pace for a successful 2025: BMW Group India delivers strong performance in Q1 with record-breaking car deliveries.

Thu, 03 Apr 2025 14:32:32 +0200

Gurugram. Beginning 2025 with a strong start, BMW Group India has delivered its best-ever Q1 car deliveries with +7% growth. The company delivered 3,914 cars (BMW and MINI) and 1,373 motorcycles (BMW Motorrad) between January – March 2025. BMW sold 3,764 units and MINI 150 units.

Monthly sales in each month - January, February and March - also recorded their peak.

Mr. Vikram Pawah, President and CEO, BMW Group India said, “BMW Group India has set the tone for a successful year ahead, delivering record-breaking performance in the first quarter. BMW Group India clocked the highest-ever Q1 car deliveries till date with 3,914 units, also growing by +7%. Continuing our lead as the most preferred luxury EV brand, we have seen phenomenal growth of over 200% in our electric car sales. Similarly, BMW long wheelbase models have captured the imagination of luxury connoisseurs across the board, growing by a remarkable +187%. Our robust strategy has driven momentum for us despite a challenging environment. BMW is a highly aspirational brand with a pioneering spirit, and we will continue to unlock the true potential of Indian luxury automotive market with unparalleled customer experience.”
BMW Group Electric Vehicles (EV)

BMW Group India is the most sought-after luxury EV brand for last three years. In Q1 2025, this leading position continues with 646 BMW and MINI EVs delivered. The exponential growth of +206% year-on-year in electric sales, reflects the high level of sustainability, performance and innovation that progressive Indians associate with the BMW Group brands. The first-ever BMW iX1 Long Wheelbase, launched at Auto Expo 2025, disrupted the market and garnered over 1,500 bookings. It became the largest selling BMW EV in Q1.

BMW Group India is committed to enabling a whole EV ecosystem for its consumers. This steady success is attributed to the widest and most attractive range of EVs in luxury segment, complimented by a strong charging network and host of new services like BMW Destination Charging, Smart E-Routing, Charging Concierge. With all these initiatives, trust in BMW electric mobility grows stronger by the day. BMW Group India currently offers six electric cars and two electric scooters - BMW i7, BMW iX, BMW i5, BMW i4, BMW iX1 Long Wheelbase, MINI Countryman E, BMW CE 04 and BMW CE 02.

BMW Long Wheelbase Range

The highly successful long wheelbase range of BMW India including - the BMW 7 Series, BMW 5 Series, BMW 3 Series and BMW iX1 - is in tremendous demand. BMW long wheelbase models have redefined comfort, luxury and performance across all segments while maintaining their core BMW DNA of Sheer Driving Pleasure. This unique combination sets them apart and has led to a +187% growth in sales of these models. The all-new BMW 5 Series Long Wheelbase was the highest-selling business sedan in Q1. The BMW 3 Series Long Wheelbase continued the class-leading position in its segment. Since BMW’s long wheelbase offensive began in 2021, the contribution of these models towards annual sales has increased significantly from 20% to 30%.

BMW Luxury Class (BMW 7 Series, BMW i7, BMW X7 and BMW XM)

Exclusivity and grandeur of the flagship ‘BMW Luxury Class’ continues. Nearly every fifth car that BMW sold in Q1 was a top-of-the-range model. The BMW 7 Series maintained its appeal as the class-leading ultra-luxury limousine in its segment, while the demand for BMW X7 increased significantly in the top-end SAV world.

BMW Sports Activity Vehicles

BMW Sports Activity Vehicles (SAV) contributed 55% to sales with 2,079 units. Growth in SAVs increased by +11% thanks to all-new models like the BMW X5 and the first-ever BMW iX1 Long Wheelbase. BMW X1 was the most popular SAV with over 30% share in sales and the highest selling car in Indian premium compact SAV segment. In the coming months, SAV sales are set to receive a greater spurt as deliveries of the all-new BMW X3 begin at dealerships.

MINI

MINI delivered 150 units in Q1 2025. MINI Cooper S was the highest-selling model, more than doubling its sales as compared to last year.

BMW Motorrad

BMW Motorrad delivered 1,373 motorcycles in Q1 2025. The BMW G 310 RR was most popular smart-cc bike while the BMW 900 GS / GSA was the most popular in the high-end CBU range.

Retail.NEXT: Immersive retail concept transforming customer experience

With launch of Retail.NEXT, BMW Group India aims to create a future-forward retail space that not only showcases its vehicles but also embodies the brand’s commitment to luxury, innovation, and customer satisfaction. Retail.NEXT entails new design, new digital tools, new roles, and new processes. With a total investment of INR 365.6 crores, Retail.NEXT will be implemented across 56 facilities in 33 cities. In Q2 2025, BMW Group India will extend the Retail.NEXT experience at 9 touchpoints in Delhi, Chennai, Hyderabad, Bengaluru, Kolkata, Jaipur and Guwahati.

BMW India Financial Services

Customers enjoy great value proposition and complete peace of mind with the ‘BMW Smart Finance’ offering from BMW India Financial Services, financial products which offer attractive benefits such as low monthly instalments, assured buy-back, flexible end of term options and an opportunity to upgrade to a new car amongst other benefits. From amongst the financed cars, 1 out of every 4 cars sold by BMW and MINI is financed by BMW India Financial Services.

BMW Group India

With BMW, MINI and Motorrad, the BMW Group has its sight set firmly on the premium sector of the Indian automobile market. Along with cars and motorcycles, BMW Group's activities in India comprise of financial services for its premium clientele. BMW India and BMW India Financial Services are 100% subsidiaries of the BMW Group and are headquartered in Gurgaon (National Capital Region).

BMW India started operations in 2007. The wide range of its activities include a manufacturing plant in Chennai, a parts warehouse in Pune, a training centre in Gurgaon NCR and development of a dealer organisation across major metropolitan centres of the country. BMW Plant Chennai locally produces 10 car models in India.

MINI has successfully established itself as a premium small car brand in India since its launch in January 2012. BMW Motorrad officially started its operations as a part of the Indian subsidiary of BMW Group in April 2017.

With BMW, MINI and BMW Motorrad, BMW Group India currently has over 80 touchpoints across the country setting high benchmarks in service quality and customer service.

BMW India Financial Services, a Non-Banking Finance Company (NBFC), started operations in 2010. It operates with three business lines: Retail Finance, Commercial Finance and Insurance Solutions (as corporate agents). The services offered through BMW India Financial Services are significantly valuable to the premium clientele who require exclusive and flexible financial solutions.

If you have any queries, please contact:

BMW Group India

Richa Sharma, Press and Corporate Affairs

Cell: +91 99100 22148; Email: Richa.Sharma@bmw.in

Satchit Gayakwad, Press and Corporate Affairs

Cell: +91 95607 25900; Email: Satchit.Gayakwad@bmw.in

Internet: www.bmw.in

Facebook: https://www.facebook.com/bmwindia

Twitter: https://twitter.com/bmwindia

YouTube: https://www.youtube.com/user/bmwindia

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

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

Press Contact: Richa Sharma
Tel: +91-124-4566-655
E-mail: richa.sharma@bmw.in

BMW Group Report 2024

Fri, 14 Mar 2025 14:48:51 +0100

Attached please find the BMW Group Report 2024.

The BMW Group Annual Conference will be held on 14 March 2025 at 08:00 am (CET).
The event will be broadcast on our website https://www.bmwgroup.com/en/investor-relations/company-reports.html.

The online version of the BMW Group Report 2024 can be explored here: https://www.bmwgroup.com/en/report/2024/index.html

Press Contact: Abhay Dange
Tel: +91-124-456-6656
E-mail: abhay.dange@bmw.in

Forward momentum through technology openness, strong product line-up and NEUE KLASSE: BMW Group on track for growth in 2025

Fri, 14 Mar 2025 14:48:14 +0100

Munich. The BMW Group is entering the financial year 2025 with a clear commitment to growth – with a planned slight increase in sales volume, a decrease in investments and robust free cash flow.

“What has always set the BMW Group apart is our ability to maintain our course, even in challenging conditions. We remain clearly focused on two things – our near term performance and our long-term perspective,” said Oliver Zipse, Chairman of the Board of Management of BMW AG, on Friday. “With the NEUE KLASSE, we are implementing the biggest future-focused project in the history of our company, while at the same time achieving a robust free cash flow.”

At the end of this year, the first production model of the NEUE KLASSE, the new BMW iX3, will kick off an unprecedented ramp-up of new models: Across all drivetrain variants and all segments, the BMW Group will release more than 40 new and updated vehicles onto the market by 2027. What these new models have in common is that they will be equipped with future technology clusters, which will be rolled out successively across the entire portfolio with the launch of the NEUE KLASSE.

“We are taking a huge leap forward with our new technology clusters – achieving maximum scalability, increasing the level of innovation and enhancing customer benefits. We do not differentiate between segments or drivetrain technologies – we provide every customer with the latest technology,” said Zipse.

Consistent implementation of strategy

The BMW Group made extensive investments in innovative technologies, its model line-up and manufacturing footprint worldwide in 2024. There will be a decrease in expenditure this year, from the planned peak in R&D spending and capital expenditure last year. On this basis, the company is aiming for a profit before taxes at the previous year’s level – despite increased tariffs.

“Never before in the history of BMW have we invested so extensively in our future. Investment reached its highest level in 2024, as planned. This underlines the durability of our strategy – and how consistently we are implementing it,” said Walter Mertl, member of the Board of Management, Finance.

Technology openness as strategic success factor in global competition

The diversity of its product range remains a key success factor for the BMW Group: The company is well positioned to meet globally diverse requirements and customer needs – both today and in the future – with a broad drivetrain portfolio spanning internal combustion engines, plug-in hybrids, battery-electric drive trains and, starting in 2028, also fuel-cell electric vehicles powered by hydrogen.

Highly efficient internal combustion engines, which remain in high demand worldwide, will continue to play a key role. Last year alone, the company released more than 15 new or updated models with internal combustion engines onto the roads. All engines have been approved for higher percentages of renewable fuels for years. Fuels with lower CO₂ content are the most effective way to reduce the carbon footprint of the existing fleet of over 250 million vehicles in Europe alone, making a valuable contribution to the transport sector’s efforts in the fight against climate change.

Battery-electric vehicles (BEVs) remain the BMW Group’s main growth driver. The company’s broad all-electric offer comprises more than 15 models across all brands. This means the BMW Group has a fully-electric offer in all its main segments. In 2024, the BMW Group significantly increased its total BEV sales worldwide to 426,536 units (+13.5%), representing a sales share of more than 17%. At MINI, about one in four vehicles is fully-electric; at Rolls-Royce, it is already one in three.

Plug-in hybrids (PHEVs) also remain an essential element of the BMW Group’s technology-open approach and electrification of its model range: State-of-the-art BMW PHEV models enable an all-electric range of over 100 kilometres, thus making it relevant for a large proportion of typical driving situations and also making a substantial contribution to CO₂ reduction. In total, the BMW Groupdelivered nearly 600,000 electrified vehicles including plug-in hybrids (PHEVs and BEVs) to customers in 2024. This means almost one in four vehicles sold was electrified.

Electrified deliveries reach new all-time high – important milestones in 2025

The company will reach two major milestones in 2025: first, three million electrified vehicles on the roads since the launch of the BMW i3 and BMW i8 and, second, 1.5 million fully-electric vehicles delivered to customers.

The decrease in the CO₂ emissions of the new vehicle fleet also underlines the effectiveness of technology openness: Based on preliminary figures, the BMW Group was able to reduce its EU fleet emissions to below 100 grams of CO₂ per kilometre (WLTP) for the first time in 2024.

First hydrogen production vehicle to be released in 2028

In 2028, the BMW Group will become the first premium manufacturer worldwide to release a series production fuel-cell vehicle, offering its customers another emission-free drivetrain option. To this end, the BMW Group is deepening its cooperation with Toyota Motor Corporation: Both partners will jointly develop the drive system for passenger cars, which will then be used in a brand-specific way in the two manufacturers’ respective models. The planned BMW vehicle will fit seamlessly into the brand’s portfolio, where it will be available alongside other drive train options.

NEUE KLASSE is laying the foundation – BMW iX3 will be first production vehicle

Series production of the NEUE KLASSE will get underway in late 2025. The first production vehicle of this new generation of BMW models will have the model name BMW iX3. Series production of this SAV model, which was foreshadowed by the BMW Vision Neue Klasse X last year, will begin late this year at Plant Debrecen – the first plant in the BMW Group production network to exclusively build fully-electric vehicles. Since late 2024, the plant has been producing pre-series vehicles for testing.

The BMW iX3 kicks off an unprecedented model ramp-up up to 2027: The launches of more than 40 models of all drivetrain variants will follow in quick succession; including a sporty sedan that is core to the BMW brand, which will be launched in 2026.

With the series launch of the BMW iX3, the new technology clusters will also be integrated throughout the entire BMW product line-up based on the established modularity principle. With this development, the BMW Group has achieved a high level of innovation: Numerous patents were successfully registered – for example, for electric motor components, display projection technologies and driving dynamics control functions. This means that all future BMW models will benefit from the innovations of the NEUE KLASSE - as well as from the new design language.

Digital nervous system for “Software-Defined Vehicle”

For the next stage in its customer and driving experience, the BMW Group has completely redesigned the components, functionality and connectivity its “Software-Defined Vehicle”. The result is an entirely restructured digital nervous system – consisting of a new electrical system with zonal architecture, a refined software architecture and four “super-brains”. These high-performance computers cluster the computing power for key customer functionality around infotainment, automated driving, driving dynamics and basic functions, such as vehicle access, air conditioning and comfort. In this way, the BMW Group is centralising and significantly reducing the number of electronic control units, while simultaneously providing well over 20 times more in-car computing power in the vehicle. This already ensures that the electronic control units will also be capable of accommodating future software and function updates, including AI features.

The zonal architecture comprising four zones, will substantially increase the vehicle's efficiency: On the one hand, this radically simplifies the electrical system – 600 metres less wiring also reduces weight by 30%. On the other hand, the use of “smart eFuses” allows unnecessary energy consumption to be deactivated in certain situations, such as when the vehicle is parked or charging. Developers are working on well over 1,000 software modules with more than 500 million lines of code to further enhance the software architecture of the new digital “nervous system”.

Overall, the redesign of the electronics architecture enables a quantum leap in performance, integration capability and efficiency. New innovations can be relayed much faster to the vehicle through over-the-air upgrades, ensuring the car remains up-to-date – even when the next vehicle generation is already on the market. Over the course of the year, the BMW Group targets to increase the number of “over the air update” capable vehicles on the roads to over ten million.

Next-level driving experience

Ten times faster than previous systems, developed entirely in-house and delivering maximum integration – with the “Heart of Joy” and new “BMW Dynamic Performance Control”, the BMW Group is set to achieve a quantum leap in driving experience: For the first time, the new highly integrated control unit – that will be used in every fully-electric BMW in the future – combines drivetrain and driving dynamics functions. Integrated control of the drive train, braking and recuperation takes efficiency to the next level: In 98% of driving situations, the conventional brake does not need to intervene – the recuperation braking power is sufficient. As a result, the “Heart of Joy” increases overall efficiency by up to 25%.

The performance capabilities and potential of the “Heart of Joy” are showcased in the BMW Vision Driving Experience. In this new high-performance test vehicle, the functionality of the electronic control unit is tested under extreme conditions: The Vision Vehicle develops a torque of up to 18,000 Nm. The logic behind this: If the system can handle such a powerful high-performance vehicle, it will also be capable of managing the requirements of future production models. The BMW Vision Driving Experience will showcase the capabilities of the “Heart of Joy” in April at the Auto Shanghai 2025.

Focus on driver orientation: The new BMW Panoramic iDrive

More than 20 years ago, the BMW Group set the benchmark for driver orientation and intuitive operability with its iDrive system. Starting in the new BMW iX3, the company is taking the next step by launching a completely new display and a new highly intelligent operating system. The clear objective is to reinterpret the brand’s hallmark “hands on the wheel, eyes on the road” approach and develop it into the future.

With “BMW Panoramic iDrive”, the central interface for driver-vehicle interaction is being totally redesigned. At the heart of this new system is BMW Panoramic Vision – a completely newly-developed concept that projects content across the full width of the windscreen. It is rounded off by three other new components: the BMW 3D head-up display, the central display and the multifunction steering wheel. The entire system is operated either by touch or voice control via BMW Intelligent Personal Assistant, which is taken to a new level through a Large Language Model (LLM).

The intelligent backbone of the new Panoramic iDrive is formed by the new BMW Operating System X, which was developed entirely in-house and is based on an Android Open Source Project (AOSP) software stack, delivering significant update and upgrade capabilities. The new operating system enables optimal coordination and distribution of content in the vehicle across Panoramic iDrive’s four elements. At the same time, it offers customers maximum personalisation and customisation, tailored to their individual preferences and needs.

Sixth-generation BMW eDrive technology

The BMW Group is launching the sixth generation of its eDrive technology in the electric models of the NEUE KLASSE. The system comprises three significantly enhanced components: the high-voltage battery, the electric motor and the “BMW Energy Master”: The latter operates as the control unit for the entire electric drive system, has been developed completely in-house and will be manufactured in the BMW Group Plant in Landshut.

In the future, the BMW Group will use round cells and an 800-volt system for its high-voltage battery. This combination heralds a major breakthrough at both cell and vehicle levels: 20% higher energy density, 30% faster charging and at least 30% more range. The round cells are integrated and wired directly into the battery housing. With this new concept, the BMW Group is aiming to reduce costs for the high voltage battery by 40 to 50 percent.**

For its e-drive, the BMW Group relies on a highly flexible and scalable modular system. The basis for this is provided by DC-excited Synchronous Motors (SSMs) that are developed and produced in-house. Vehicles with xDrive come with the option of Asynchronous Motors (ASMs) installed on the front axle, reducing energy loss by 40% and weight by 10%. In the future, customers will be able to choose between models with one, two, three or four electric motors.

Strong brands, diversified product portfolio

The foundation of the BMW Group’s success lies in its fresh and attractive product line-up across all segments. In 2024, with the new BMW X3, the BMW brand unveiled the fourth generation of one of its best-selling models. Within the past two years, the BMW Group has thoroughly updated its product range in two high-volume segments: In the entry-level segment, the new generations of the BMW 1 Series and BMW 2 Series Gran Coupé were released onto the market. In BMW’s core segment, both the BMW 3 Series and BMW 4 Series were further developed. Following the update to the BMW iX*, this model now provides a fully-electric range of over 700 kilometres in the WLTP cycle.

In 2024, M GmbH posted record sales for the 13th consecutive year, building on its broad and diverse model line-up, including the BMW M3 CS Touring*, BMW M5 Sedan* and BMW M5 Touring*, among others. One in ten BMW brand vehicles features M technology.

With the launch of the new MINI Convertible*, the New MINI Family is now complete, comprising five models in total.

Rolls-Royce recently introduced its second fully-electric vehicle, Black Badge Spectre*. The company is also investing 300 million pounds in its Goodwood production site to further expand its Bespoke and Coachbuild offerings.

BMW Motorrad reported its highest-ever sales last year. This success can be attributed to its highly sought-after GS models, the new heritage models of the R12 series and the high-performance long-distance sports models from the four-cylinder series, among others.

As planned, future investments reach new all-time high in 2024

Systematically and with strong momentum, the BMW Group is working on extensive future model updates and technology innovations including electrification and digitalisation across all model series. To this end, the company invested more than € 18 billion in R&D and capital expenditure linked to new products and facilities in the 2024 financial year. The company will further strengthen its global production network with the construction of the new plant in Debrecen (Hungary) – where series production of the new BMW iX3 will begin at the end of this year – along with the development of five high voltage battery assembly facilities and the extensive refurbishment of the Munich plant.

BMW Group meets adjusted business targets for 2024, as forecast

As projected, the company achieved its adjusted business targets for 2024, which were set in September. The guidance adjustment was triggered by the financial effects of delivery stops and recalls in connection with the supplied Integrated Brake System (IBS) component and continuing subdued demand in the Chinese market. Outside of China, the BMW Group benefited from growing customer demand for its attractive premium vehicles: Excluding China, the BMW brand achieved growth of 4.1% for the full year and was able to expand its position as number one in the segment worldwide. The BMW Group reported revenues for the full year of € 142,380 million (2023: € 155,498 million; -8.4%).

Investment in the future reach a new high with NEUE KLASSE

Expenditure for research and development increased significantly, as planned, to € 9,078 million (2023: € 7,755 million/+17.1%). The R&D ratio for the full year was 6.4% (2023: 5.0%). As planned, the BMW Group’s capital expenditure for the full year climbed to € 9,056 million (2023: € 8,836 million/+2.5%). The capex ratio for the 12-month period rose to 6.4% (2023: 5.7%). The company expects its investments in future projects to decrease, starting in 2025.

Group earnings (EBT) in line with adjusted guidance

In 2024, the BMW Group reported Group earnings before tax (EBT) of €10,971 million (2023: € 17,096 million/-35.8%). The Group EBT margin came in at 7.7% (2023: 11.0%). In the fourth quarter of 2024, the BMW Group earned a margin of 5.8% (Q4/ 2023: 8.6%). Group net profit amounted to € 7,678 million (2023: € 12,165 million/-36.9%).

Automotive Segment EBIT margin at 6.3%

Automotive Segment earnings before financial result (EBIT) totalled € 7,893 million in 2024 (2023: € 12,981 million/ -39.2%). In the second half of 2024, in particular, the operating result was impacted by the market situation in China and delivery stops linked to Integrated Braking System (IBS). The EBIT margin came in at 6.3% (2023: 9.8%), which was within the adjusted target range of 6-7%. Excluding depreciation and amortisation for BBA assets from the purchase price allocation, the EBIT margin was 7.4%. In the fourth quarter of 2024, the segment earned a margin of 5.5% – excluding the BBA depreciation, EBT totalled approx. € 2.2 billion in the final quarter of the year, with an EBT margin of 6.5%.

The Automotive Segment’s free cash flow for the full year totalled € 4,852 million (2023: € 6,942 million) – despite realized future investments of € 18.2 bn. Largely due to a planned significant reduction in inventories, the BMW Group achieved a free cash flow of € 5,043 million in the fourth quarter (2023: € 1,183 million/+326%). In 2025, the segment’s free cash flow is expected to benefit from lower capital expenditure and land above €5 billion.

In the Financial Services Segment, the BMW Group reported solid growth in the number of new contracts with retail customers for new and used vehicles in 2024, with a significantly higher financing volume per contract. The penetration rate new BMW Group vehicles leased or financed by the Financial Services Segment climbed to 42.6%duringthe reporting year (2023: 38.2%/ +4.4 percentage points).

Earnings before tax (EBT) for the full year 2024 amounted to € 2,538 million (2023: € 2,962 million/-14.3%). Earnings development reflected the expected lowerincome from the resale of end-of-lease vehicles year-on-year, which nevertheless remains positive on average per vehicle. Additionally, earnings were impacted by higher provisions for credit and residual value risks, and additional allocations to provisions.

Higher payout ratio – dividend of € 4.30 proposed

Accounting for the payout ratio target range of 30 40% of net profit attributable to the shareholders of BMW AG and subject to the approval of the Annual General Meeting on 14 May 2025, thecompany’s unappropriated profit (according to the German Commercial Code) of € 2,677 million (2023: € 3,802 million/-29.6%) will be distributed to shareholders from BMW AG’s net profit. This represents the highest ever payout ratio of 36.7% (2023: 33.7%). Accordingly, the Board of Management and Supervisory Board will propose a dividend of € 4.30 per share of common stock (2023: € 6.00) and € 4.32 per share of preferred stock (2023: € 6.02). This makes the dividend for fiscal year 2024 the fourth highest in the company’s history.

In addition, share buybacks remain a solid pillar of the shareholder return strategy. Since authorization by the 2022 Annual General Meeting, the BMW Group has acquired a total of 6.35% of the share capital as of December 31, 2024. By April 2025, the company will have purchased a total of 4 billion euros in shares. At the Annual General Meeting on May 14, BMW AG will request a further authorization to buy back additional shares amounting to 10 percent of the existing share capital within the next five years.

“The BMW Group has consistently implemented its shareholder return strategy, even in the challenging financial year 2024. The highest payout ratio ever agreed in the history of BMW AG results in a dividend of €4.30 . In addition to our reliable annual dividends, our shareholders benefit from our share buyback programmes. Of course, our employees also benefit from the company’s success: They participate in it through our profit-sharing scheme and discounted share purchase options,” said CFO Mertl.

Number of employees higher year-on-year

The BMW Group employed 159,104 employees at the end of 2024 (2023: 154,950/ +2.7%). This slight increase in employee numbers was, as planned, due to the ramp-up of the NEUE KLASSE, primarily in development, IT and the BMW Group’s global production network.

Detailed guidance for financial year 2025

The BMW Group anticipates the following developments during financial year 2025: Inflation continues to stabilize and further moderate interest rate cuts in many countries suggest that demand will rise slightly in 2025. With the full availability of new models — the BMW 5 Series, the BMW X3 and the renewed MINI model range, as well as the new BMW 2 Series Gran Coupé — the company expects slight growth in sales overall. The share of all-electric vehicles in deliveries will increase slightly compared to 2024.

The electrification and digitization strategy will continue in 2025; however, costs and investments are expected to decline after the 2024 peak. At the same time, the continued challenging situation in China, tariff increases and ongoing support measures for the supply chain are expected to provide headwinds.

This guidance takes into account the effects of the tariff increases that came into force up to March 12. In view of the aforementioned aspects, Group earnings before taxes will beexpected on previous year’s level***. An EBIT margin in the range of 5.0 to 7.0% is expectedin the Automotive segment. The Automotive Segment RoCE should be within a range of 9 to 13%.

RoE in the Financial Services segment is forecast to be in the range of 13 to 16%.

In the Motorcycles Segment, a slight increase in sales and an EBIT margin within the target range of 5.5 to 7.5%are forecast, with an RoCE of 13 to 17%.

The above targets will be achieved with the current number of employees.

The actual business performance of BMW Group may deviate from current expectations, i.e. due to changes in political and macroeconomic conditions. Among other things, the currently anticipated intensification of global trade conflicts, in the form of further tariff increases, could have a negative impact.

* * *

You will receive further information on the Group Financial Statements 2024 and the outlook for the current financial year at the BMW Group Annual Conference on 14 March 2025. You can follow the virtual event live on the internet from 8:00 a.m. (CET) at: https://www.live.bmwgroup.com/de/live-streaming/, with the livestream of the journalist Q+A at the Annual Conference from 9:00 to 9:45 a.m.

This will be followed from 11:00 a.m. to 12:00 p.m. by the livestream of the Investor Relations Q+A with analysts at https://www.bmwgroup.com/en/investor-relations/annual-conferences.html

The BMW Group Report 2024 will be published on 14 March 2025 at 7:30 a.m. (CET) at https://www.bmwgroup.com/de/investor-relations/unternehmensberichte.html.

The BMW Group – an overview: 2024		2024	2023	Change in %
Deliveries to customers
Automotive	units	2,450,854	2,554,183	-4.0
thereof: BMW	units	2,200,217	2,252,793	-2.3
MINI	units	244,925	295,358	-17.1
Rolls-Royce	units	5,712	6,032	-5.3
Motorcycles	units	210,385	209,066	0.6

Employees (as of 31 Dec. 2024)		159,104	154,950	2.7
EBIT margin Automotive Segment	percent	6.3%	9.8%	-3.5 %-points
EBIT margin Motorcycles Segment	percent	6.1%	8.1%	-2.0 %-points
EBT margin BMW Group²	percent	7.7%	11.0%	-3.3 %-points

Revenues	€ million	142,380	155,498	-8.4
thereof: Automotive	€ million	124,917	132,277	-5.6
Motorcycles	€ million	3,220	3,214	0.2
Financial Services	€ million	38,562	36,227	6.4
Other Entities	€ million	14	11	27.3
Eliminations	€ million	-24,333	-16,231	49.9

Profit before financial result (EBIT)	€ million	11,509	18,482	-37.7
thereof: Automotive	€ million	7,893	12,981	-39.2
Motorcycles	€ million	198	259	-23.6
Financial Services	€ million	2,511	3,055	-17.8
Other Entities	€ million	-25	-13	92.3
Eliminations	€ million	932	2,200	-57.6

Profit before tax (EBT)	€ million	10,971	17,096	-35.8
thereof: Automotive	€ million	7,544	12,642	-40.3
Motorcycles	€ million	198	258	-23.3
Financial Services	€ million	2,538	2,962	-14.3
Other Entities	€ million	837	-100	937.0
Eliminations	€ million	-146	1,334	-110.9

Group income taxes	€ million	-3,293	-4,931	33.2
Net profit	€ million	7,678	12,165	-36.9
Earnings per share of common stock	€	11.62	17.67	-34.2
Earnings per share of preferred stock³	€	11.64	17.69	-34.2

²Ratio of Group earnings before taxes to Group revenues.
³ Common/preferred shares. Earnings per share of preferred stock are calculated by distributing the earnings required to cover the additional dividend of € 0.02 per preferred share proportionally over the quarters of the corresponding financial year.

The BMW Group – an overview: IN Q4 202 4		IN Q4 2024	IN Q4 2023	Change in %
Deliveries to customers
Automotive¹	units	696,697	717,620	-2.9
thereof: BMW	units	616,714	631,526	-2.3
MINI	units	78,241	84,616	-7.5
Rolls-Royce	units	1,742	1,477	17.9
Motorcycles	units	46,949	44,349	5.9

Employees (as of 31 Dec. 2024)		159,104	154,950	2.7
EBIT margin Automotive Segment	percent	5.5%	8.5%	-3.0 %-points
EBIT margin Motorcycles Segment	percent	-6.8%	-7.6%	-0.8 %-points
EBT margin BMW Group²	percent	5.8%	8.6%	-2.8 %-points

Revenues	€ million	36,416	42,968	-15.2
thereof: Automotive	€ million	34,054	37,283	-8.7
Motorcycles	€ million	657	643	2.2
Financial Services	€ million	9,964	9,504	4.8
Other Entities	€ million	4	2	100.0
Eliminations	€ million	-8,263	-4,464	85.1

Profit before financial result (EBIT)	€ million	1,882	4,412	-57.3
thereof: Automotive	€ million	1,865	3,171	-41.2
Motorcycles	€ million	-45	-49	-8.2
Financial Services	€ million	312	606	-48.5
Other Entities	€ million	-12	0	-
Eliminations	€ million	-238	684	-134.8

Profit before tax (EBT)	€ million	2,110	3,682	-42.7
thereof: Automotive	€ million	1,781	3,031	-41.2
Motorcycles	€ million	-46	-53	-13.2
Financial Services	€ million	392	511	-23.3
Other Entities	€ million	458	-212	-316.0
Eliminations	€ million	-475	405	-217.3

Group income taxes	€ million	-564	-1,068	47.2
Net profit	€ million	1,546	2,614	-40.9
Earnings per share of common stock	€	2.41	3.77	-36.1
Earnings per share of preferred stock³	€	2.42	3.78	-36.0
¹Deliveries include the joint venture BMW Brilliance Automotive Ltd., Shenyang
²Ratio of Group earnings before taxes to Group revenues.
³ Common/preferred shares. Earnings per share of preferred stock are calculated by distributing the earnings required to cover the additional dividend of € 0.02 per preferred share proportionally over the quarters of the corresponding financial year.

**The costs for the 6th generation of the high-voltage battery will decrease by 40 to 50% compared to the current Gen5 high-voltage battery. This is based on a comparable e-range.

*** Starting January 1st, 2025, the outlook range for Group EBT was adapted. For details, please refer to the glossary of the BMW Group Report.

GLOSSARY – explanatory comments on key performance indicators

Deliveries to customers

Payout ratio

EBIT

Profit before financial result. Profit before financial result comprises revenues less cost of sales, less selling and administrative expenses and plus/minus net other operating income and expenses.

EBIT margin

Profit/loss before financial result as a percentage of revenues.

EBT

EBIT plus financial result.

PHEV

Plug-in-hybrid electric vehicle - hybrid vehicle with petrol engine and electric drive.

If you have any questions, please contact:

BMW Group Corporate Communications

Dr Britta Ullrich, Finance Communications

Telephone: +49 89 382-18364

Email: britta.ullrich@bmwgroup.com

Sebastian Kessler, Communications Corporate, Strategy

Telephone: +49 89 382-21616

Email: sebastian.ke.kessler@bmwgroup.com

Max-Morten Borgmann, Head of Communications Corporate, Finance, Sales

Telephone: +49 89 382-24118

Email: max-morten.borgmann@bmwgroup.com

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

The BMW Group

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

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

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

www.bmwgroup.com

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

YouTube: https://www.youtube.com/bmwgroup

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

Facebook: https://www.facebook.com/bmwgroup

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

Press Contact: Abhay Dange
Tel: +91-124-456-6656
E-mail: abhay.dange@bmw.in

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

Fri, 14 Mar 2025 14:47:22 +0100

- Check against delivery –

Statement

Walter Mertl

Member of the Board of Management of BMW AG, Finance

Annual Conference 2025

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

Ladies and Gentlemen,

Good morning!

SLIDE: BMW Group in Full-Year 2024

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

The BMW Group proved this once again in Q4 2024:

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

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

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

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

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

2024 was a year of two halves:

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

SLIDE: BMW Group KPIs in FY24

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

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

SLIDE: BMW Group Segment Performance in FY24

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

SLIDE: Automotive EBIT Development in FY24

Looking to the operating result in detail:

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

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

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

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

SLIDE: R&D Expenditure in FY24

SLIDE: Capital Expenditure in FY24

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

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

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

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

SLIDE: Automotive Segment Free Cash Flow in FY24

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

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

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

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

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

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

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

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

SLIDE: Financial Services Segment in FY24

Moving on to the Financial Services Segment.

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

SLIDE: Proposed Dividend and Payout Ratio

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

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

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

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

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

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

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

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

Looking to the market development:

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

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

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

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

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

SLIDE: Outlook 2025

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

Let me focus on selected guidance parameters.

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

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

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

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

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

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

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

SLIDE: Closing

Ladies and Gentlemen,

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

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

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

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

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

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

Press Contact: Abhay Dange
Tel: +91-124-456-6656
E-mail: abhay.dange@bmw.in

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

Fri, 14 Mar 2025 14:46:23 +0100

- Check against delivery –

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

Part I:

Good Morning, Ladies and Gentlemen.

Welcome to our annual conference.

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

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

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

There are four reasons for our confidence:

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

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

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

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

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

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

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

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

Let’s take a look at 2024:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Third point: the performance of our brands.

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

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

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

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

Part II:

Ladies and Gentlemen,

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

This is truly the next level of Sheer Driving Pleasure.

Ladies and Gentlemen,

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

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

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

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

Testing of the BMW iX3 is in full swing.

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

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

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

We are ready. More than ever.

Thank you.

Press Contact: Abhay Dange
Tel: +91-124-456-6656
E-mail: abhay.dange@bmw.in

BMW Group India continues its trailblazing performance. Highest-ever annual car sales of 15,721 units with +11% growth.

Tue, 07 Jan 2025 13:48:00 +0100

Gurugram. Writing a new chapter of success, BMW Group India has achieved its best-ever annual car deliveries with 11% growth. The company delivered 15,721 cars (BMW and MINI) and 8,301 motorcycles (BMW Motorrad) between January – December 2024. BMW sold 15,012 units and MINI 709 units.

BMW sales clocked the highest Q4 (4,958 units | +15%) and highest December sales as well (2,244 units | +17%).

Mr. Vikram Pawah, President and CEO, BMW Group India said, “Posting the highest-ever car sales in India, BMW Group India has also crossed a milestone of 15,000 cars. We had the strongest product offensive in the luxury car segment, paired with the introduction of new initiatives like Retail.NEXT and expansion of bespoke experiences and services for our customers. BMW is leading significantly across segments in the Indian luxury car market including sustainable electric mobility, Luxury Class and aspirational premium compact segment. This tremendous success is driven by our resolute focus on creating customer delight. Together with our dedicated team of dealer partners, we are committed to achieving new benchmarks in luxury mobility.”

BMW Luxury Class (BMW 7 Series, BMW i7, BMW X7 and BMW XM)

2024 recorded the highest ever sales of BMW Luxury Class in India (2,507 units | +8%). BMW Luxury Class is the flagship range and the ultimate mark of exclusivity for Indian customers. Nearly every fifth car that BMW sold in India in 2024 was a top-of-the-range model. In 2024, BMW X7 was one again the highest-selling Luxury Class model (1,570 units | +4%). Since its launch, more than 5,000 units of the BMW X7 have been delivered in India. The BMW 7 Series leads the epitome of luxury in its segment (865 units | +15%).

BMW Group Electric Vehicles (EV)

BMW Group India upheld its top position in the electric mobility space for the third consecutive year. Thanks to the widest and most attractive range of electric vehicles in luxury segment, complimented by a strong charging network and host of new services, BMW Group India remains the most desirable choice for luxury EVs. In 2024, 1,249 units of fully electric BMW and MINI cars were delivered. i7 was the largest selling EV in its class with 384 units.

BMW Group India also crossed 3,000 EV deliveries till date, becoming the first luxury car manufacturer in the country to reach this milestone. BMW iX is the most popular luxury EV in India with over 1,100 units sold till date. BMW Group India offers six electric cars and two electric scooters in India - BMW i7, BMW iX, BMW i5, BMW i4, BMW iX1, MINI Countryman Electric, BMW CE 04 and BMW CE 02.

BMW Sports Activity Vehicles

BMW Sports Activity Vehicles (SAV) contributed 56% to sales with 8,351 units. Deliveries of SAVs rose by +16%, as they offer unparalleled dynamism, space and comfort for an active lifestyle and the ability to dominate any kind of road. BMW X5 posted its highest annual sales till date (2,056 units | +89%). BMW X1 was the most popular SAV with over 20% share in sales and also the highest selling car in Indian premium compact SAV segment.

BMW Long Wheelbase Range

The highly successful long wheelbase range of BMW India was in tremendous demand in 2024. BMW offers the largest portfolio of long wheelbase models in the luxury segment including the BMW 7 Series, BMW 5 Series and BMW 3 Series. These models are a prime choice as they bring the highest degree of luxury, space, comfort and performance and are perfectly suited for different requirements. The BMW 3 Series was the highest selling sedan with 20% share in sales and also a class-leader in its segment. The all-new BMW 5 Series Long Wheelbase, the most aspirational business sedan in India, garnered over 1,000 deliveries in less than six months of launch.

BMW M

2024 was a big year for BMW M in India with eight new launches including seven M cars and one M motorcycle. M cars deliveries increased to 875 units. BMW M340i was the highest selling M model. Since its introduction, more than 1,000 BMW M340i have been sold in India. The engineering brilliance of BMW M represents precision, agility, and the exhilarating thrill of high-performance driving.

MINI

MINI delivered 709 units in 2024. The MINI 3-Door Cooper S posted its highest-ever sales at 250 units with +77% growth.

BMW Motorrad

BMW Motorrad delivered 8,301 motorcycles in 2024. BMW Motorrad registered the highest-ever half-yearly sales (July – December) (4687 units | +14%). At 1,041 units, the brand also achieved best-ever annual sales of its completely built-up bike portfolio.

BMW and MINI 360°

Customers enjoy great value proposition and complete peace of mind with the 360⁰ finance plan from BMW India Financial Services which offers attractive low monthly instalments, assured buy-back, flexible end of term options and an opportunity to upgrade to a new car amongst other benefits. 1 out of 4 cars financed by BMW India Financial Services is through BMW and MINI 360⁰.

BMW Group India

With BMW, MINI and BMW Motorrad, BMW Group India currently has over 80 touchpoints across the country setting high benchmarks in service quality and customer service.

If you have any queries, please contact:

BMW Group India

Abhay Dange, Director, Press and Corporate Affairs

Cell: +91 99104 81013; Email: Abhay.Dange@bmw.in

Richa Sharma, Business and Finance Communication

Cell: +91 99100 22148; Email: Richa.Sharma@bmw.in

Internet: www.bmw.in

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

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

Press Contact: Abhay Dange
Tel: +91-124-456-6656
E-mail: abhay.dange@bmw.in

BMW Group Report 2023

Thu, 21 Mar 2024 13:47:56 +0100

Attached please find the BMW Group Report 2023.

The BMW Group Annual Conference will be held on 21 March 2024 at 09:00 am (CET).
The event will be broadcast on our website.

Press Contact: Abhay Dange
Tel: +91-124-456-6656
E-mail: abhay.dange@bmw.in

BMW Group Report 2023

Thu, 21 Mar 2024 07:50:49 +0100

Attached please find the BMW Group Report 2023.

The BMW Group Annual Conference will be held on 21 March 2024 at 09:00 am (CET).
The event will be broadcast on our website.

Press Contact: Abhay Dange
Tel: +91-124-456-6656
E-mail: abhay.dange@bmw.in

Strong today, strong tomorrow: BMW Group maintains course for successful future, building on strong 2023.

Thu, 21 Mar 2024 07:49:00 +0100

Munich. Strong products, strong demand, strong results: Following a successful 2023, in which the Automotive Segment reported its highest-ever operating result, the BMW Group aims to continue on its profitable growth course in the current financial year. Fully-electric vehicles (BEVs) and models from the upper premium segment should remain the main growth drivers again in 2024 – including the BMW 7 Series models, the BMW X7 and the Rolls-Royce model family, with the fully-electric Rolls-Royce Spectre*.

In both segments, the BMW Group expects to see significant double-digit growth in the current financial year. In addition, the BMW 5 Series models, including the BMW i5*, which will also be available for the first time as a fully-electric Touring model this year, plus vehicles from BMW M GmbH, will contribute as well.

Overall, the BMW Group expects to see a slight increase in deliveries in the Automotive Segment in 2024.

“The more challenging the framework conditions become, the more important it is to implement a consistent strategy. As a result, strong products and a high degree of responsiveness will remain our key success factors in 2024. This will continue to make us a reliable partner for customers, investors and stakeholders in the future,” said Oliver Zipse, Chairman of the Board of Management of BMW AG, on Thursday.

R&D spending and capital expenditure to peak in 2024, as planned

The company will maintain its strategic course, as planned, in 2024, with extensive investment in its plants, its range of premium vehicles and innovative technologies. This is seen in the construction of the plant in Debrecen (Hungary) and high-voltage battery assembly facilities in Shenyang (China), Woodruff (USA), San Luis Potosì (Mexico) and Irlbach-Straßkirchen (Lower Bavaria). With extensive expansion at Plant Munich and electrification of the MINI plant in Oxford, capital expenditure is set to peak in 2024. Digitalisation of the company and its products also necessitate higher spending.

In addition to capital expenditure, R&D spending will also reach a new high this year. This will mainly be focused on electrification of the vehicle portfolio, including the products of the NEUE KLASSE, as well as in-car digital innovations, such as connectivity, software stacks and automated driving.

“We are investing in the future of our company like never before. Construction and modernisation of our plants and the planned expansion of our portfolio are progressing quickly this year. Our capital expenditure and R&D spending will reach new levels. We are expecting a capex ratio above 6% and an R&D ratio above 5%. Both metrics will then return to their usual strategic range. Despite these major investments in our future, we are targeting a free cash flow of over six billion euros in the Automotive Segment in 2024. This speaks to the financial strength of the BMW Group,” said Walter Mertl, member of the Board of Management responsible for Finance. “We continue to focus on cost discipline and sustainable profitability – the long-term target range of 8-10% for EBIT margin in the Automotive Segment remains our benchmark.”

The company is also aiming to achieve an Automotive EBIT margin of 8-10% for the current financial year. This includes the continued dampening effect of depreciation and amortisation for BBA assets from the purchase price allocation.

Compelling products – BEV offering as main growth driver

In 2023, the BMW Group significantly increased (+74.2%) its sales of fully-electric vehicles to over 375,000 units, clearly underlining its role as an e-mobility pioneer. The company thus delivered significantly more fully-electric vehicles to customers than its direct European competitors and also significantly more than most of the new-entry players from Asia and the US.

This success is built on the strong product substance of these vehicles, as confirmed by numerous studies. For example, in February, renowned US consumer portal Consumer Reports named BMW “best brand” for the second consecutive year. The platform compared 34 automotive manufacturers and ranked them on the basis of road test scores, reliability, customer satisfaction and safety criteria. All 12 BMW models examined received a clear “buy” recommendation – as did the two MINI models tested, which also earned the brand one of the top positions.

Another double win came in a study conducted by US market research company J.D. Power, which looked at customers’ experience with electric vehicles: The overall winner was the BMW i4*, while the best model in the lower price segment was the MINI Cooper SE*.

With the fully-electric BMW i5, which will also be released onto the market this year as the first fully-electric Touring model, and the New MINI Family, the BMW Group will have a BEV option in virtually all its main segments. There will be more than 15 fully-electric models across all BMW Group brands on the market in 2024.

Combined with the growing efficiency of internal combustion engines, the BMW Group has substantially lowered its fleet-wide CO₂ emissions, specifically in Europe: Based on preliminary figures, EU fleet emissions were reduced to 102.1 g CO₂/km in 2023. The BMW Group thus outperformed its required fleet target of 128.5 g CO₂/ km by more than 20%. A further reduction is expected in 2024.

Diverse product range guarantees growth

The diversity of the BMW Group’s product range has proven to be a guarantee of growth at the start of 2024: In the first two months of the year, the BMW Group was able to increase its sales of fully-electric vehicles by a significant double-digit percentage, compared to the same period of last year. Growth was disproportionately strong in the US, where the company's BEV sales almost doubled in the year to the end of February. In Europe and China, deliveries of fully-electric models also posted significant double-digit growth.

At the same time, deliveries of vehicles with highly efficient combustion engines also rose in the year to the end of February. Strong customer demand for BMW Group models, regardless of the drive technology, combined with the high level of flexibility and responsiveness in the value chain, are important building blocks for the success of the company.

Vehicles with plug-in hybrid technology (PHEVs) also remain an essential component of the BMW brand's electrification strategy. Despite strong BEV growth, especially in Europe, demand for these models should remain stable this year. This technology is also making a valuable contribution to further CO₂ reductions and plays a part in introducing customers to e-mobility. Company-wide, over 560,000 electrified units (BEVs + PHEVs) were already delivered to customers in 2023. This is equivalent to 22% of total BMW Group sales.

The strong popularity of PHEV models has also helped the BMW Group already surpass the total of more than two million electrified vehicles (BEVs + PHEVs) to customers. Around 55% of these vehicles were PHEVs and about 45% BEV models. However, sales of fully-electric vehicles have risen much faster in recent years than PHEV models.

MINI and Rolls-Royce to become electric-only brands

The MINI and Rolls-Royce brands are well on their way to a fully-electric future from the early 2030s onwards. A glimpse of this is already provided by the New MINI Family and Rolls-Royce Spectre, with the first units already delivered to customers. New orders for Rolls-Royce Spectre already extend into 2025. Production of the new MINI Countryman* has now also ramped up for the first time at BMW Group Plant Leipzig, where it will be built as a fully-electric model and with a highly efficient internal combustion engine.

With this extensive range of electric models, the BMW Group expects to maintain its consistent growth trajectory in the years to come. In the second half of the decade, the NEUE KLASSE, with its impressive product substance, has the potential to further accelerate the market penetration of e-mobility. Depending on prevailing market conditions in the second half of the decade, development of raw material prices and availability, and the pace at which a comprehensive charging infrastructure is created, more than 50% of all BMW Group vehicles delivered worldwide could have a fully-electric drive train before 2030. If PHEV models are included, this percentage is correspondingly higher.

NEUE KLASSE in the starting blocks: BMW Vision Neue Klasse X underlines breadth of future BMW model line-up – new level of driving pleasure

Just one year before production of the NEUE KLASSE gets underway, a new Vision Vehicle previews the BMW Group’s future fully-electric SAV segment: The BMW Vision Neue Klasse X brings the philosophy and technology of the NEUE KLASSE to the Sports Activity Vehicle sector, a segment that has accounted for a growing percentage of BMW Group sales in recent years. In 2023, one out of every two BMW vehicles delivered to customers was an X model. “Together with the BMW Vision Neue Klasse, the BMW Vision Neue Klasse X showcases the breadth of our future BMW model line-up. From sporty sedan, with all its derivatives, to modern SAV family: The NEUE KLASSE reflects the variety of models that customers want today and in the future,” said Zipse. “In this way, we are underlining that the NEUE KLASSE is much more than just a car or a specific concept; it is redefining the BMW brand – and, at the same time, will be more BMW than ever.”

The BMW Vision Neue Klasse X also demonstrates how the three main characteristics of the NEUE KLASSE – electric, digital and circular – can be expanded to include a fourth dimension: The driving pleasure that forms the core of the BMW brand is taken to the next level with drive and chassis control developed specially for the NEUE KLASSE and with the sixth generation of BMW eDrive technology. The aim is for the NEUE KLASSE to offer “BMW driving pleasure” at an even higher level.

In the BMW vehicle of the future, this will be ensured by two of the four completely new highly integrated electronic control units, working smartly together on what was previously processed separately. The first control unit integrates the entire powertrain and driving dynamics, with up to ten times more computing power, based on a new software stack developed in-house by the BMW Group. The second control unit will enable the next quantum leap in automated driving. More detailed information on the other two highly integrated electronic control units – one in charge of connectivity and infotainment functionality, the other clustering more than 100 core vehicle functions, from the digital car key, to energy supply, to wire harness communications – will be provided at a later date.

In addition to further improved e-drive units, this sixth generation of BMW eDrive technology also features new, now round, lithium-ion battery cells, with a volumetric energy density over 20% higher than that of the prismatic cells previously used. In combination with the transition to an 800-volt system, this will improve charging speed by up to 30% – allowing vehicles to charge sufficiently for a 300-kilometre range in just ten minutes. The sixth generation of BMW eDrive also delivers up to 30% more range. At the same time, this new technology generation should significantly reduce costs: Compared to today’s Gen5 technology with a comparable range, the cost of the electric Gen6 system, i.e. the high-voltage battery with powertrain, should be 40-50% lower.

When it comes to aerodynamics, the BMW Vision Neue Klasse X boasts an impressive new top figure: Drag has been reduced by 20%, compared to a comparable model in the current line-up. New tyre designs and a special brake system for fully-electric vehicles help boost the vehicle's overall efficiency by up to 25%.

New generation of BMW iDrive takes user interaction to next level

The BMW Group already presented its vision of the future digital experience, both inside and outside the vehicle, with BMW i Vision Dee, at the CES in Las Vegas in 2023. The new BMW iDrive, now showcased in the BMW Vision Neue Klasse X, is based on a highly integrated software architecture and relies on the next-generation BMW Operating System.

In this vehicle, BMW Panoramic Vision projects key information across the full width of the windscreen. This will be complemented in the NEUE KLASSE by the enhanced BMW 3D Head-Up Display. In combination with a newly developed steering wheel with multifunction buttons, the new Central Display and the advanced voice control of the BMW Intelligent Personal Assistant, BMW iDrive takes interaction between the driver and their vehicle to a whole new level.

Technology clusters: Latest innovations – regardless of powertrain

However, going forward, all these innovations and technological advances are not just designed to benefit the models of the NEUE KLASSE, but the whole BMW product line-up. The basis for this is the modular principle the BMW Group has established in its technology clusters. These technology clusters, covering the areas digital, drive train, driving exterior and interior, can be used across segments for most of our product line-up. They are scalable, can be used on all architectures and can thus be modified for different vehicle concepts and segments.

“Our technology clusters give us important leverage for fast and efficient scaling of innovations and technological advances. In this way, we are able to ensure that we offer our customers the latest technology – regardless of the segment and the vehicle’s powertrain,” said Zipse.

NEUE KLASSE test drives now underway

These innovations will be making their debut in the NEUE KLASSE very soon. The first vehicles are currently completing test drives under extreme conditions. Series production will then ramp up in the second half of 2025 at the high-volume core of the BMW brand, with a Sports Activity Vehicle that is previewed in the BMW Vision Neue Klasse X. This will be followed by a sedan in the current 3 Series segment, which the BMW Vision Neue Klasse provided an initial glimpse of at the IAA MOBILITY. We intend to launch a total of at least six NEUE KLASSE models across the BMW Group’s global production network within the first 24 months of the start of production.

The NEUE KLASSE will be launched in 2025 at the new BMW Group Plant Debrecen (Hungary), which will exclusively produce vehicles for the NEUE KLASSE. From 2026 onwards, NEUE KLASSE models will also be built at the more than 100-year-old main plant in Munich, which is currently completing the necessary preparations to transition to BEV-only production from 2027. In the same year, series production of the NEUE KLASSE will begin at Plant San Luis Potosí (Mexico), while the production site in Shenyang (China) is also gearing up for production of the NEUE KLASSE.

Hydrogen fuel cell as further pillar of drive technology

The BMW Group still assumes that not all markets worldwide will have the necessary framework conditions for all customers to transition to pure electromobility in the coming decade. Consequently, a range of products with highly efficient conventional drive technology will still be needed to meet people’s individual mobility requirements, while contributing to CO₂ reduction in the transport sector.

Hydrogen fuel cell technology is also expected to account for a growing percentage of the drivetrain mix from the second half of the decade onwards. The BMW Group is systematically pushing forward with development of this technology as an additional option for sustainable individual mobility and – depending on market requirements and how conditions develop – could envision a potential production vehicle in the second half of the decade. A pilot series of the BMW iX5 Hydrogen* was presented to media from around the world for the first time in 2023. Since then, the fleet has been deployed with great success for demonstration and testing purposes among various target groups.

With its high-performance fuel cell and optimised power battery, the drive system in the BMW iX5 Hydrogen is unique worldwide. The gaseous hydrogen needed to supply the fuel cell is stored in two 700-bar tanks made of carbon-fibre reinforced plastic (CFRP). Together, they hold six kilograms of hydrogen, which gives the BMW iX5 Hydrogen a range of 504 kilometres in the WLTP cycle. Refilling the hydrogen tanks only takes three to four minutes – so, with just a few, short stops, the BMW iX5 Hydrogen is still able to ensure typical BMW driving pleasure, even over long distances.

Sustainability built into strategy

In 2021, the BMW Group became the first German automotive manufacturer to join the Business Ambition for 1.5° C campaign launched by the Science Based Targets initiative and therefore committed to the goal of complete climate neutrality throughout the entire value chain by 2050 at the latest.

To take into account all aspects of holistic sustainability, the BMW Group is leveraging its “secondary first” approach to gradually increase the percentage of recycled and reusable materials used in the vehicles of the NEUE KLASSE. Back in 2021, the BMW i Vision Circular already provided a glimpse of what individual, sustainable, luxurious mobility in the urban environment could look like in 2040: built from secondary material and renewable raw materials – and completely recyclable.

BMW meets all business objectives for 2023, as forecast

In financial year 2023, the BMW Group achieved its business objectives, as forecast. With a total of 2,554,183 premium vehicles delivered to customers (+6.4%), this represented a solid increase. Group revenues for the full year rose to € 155,498 million (+9.0%). In addition to the full consolidation of BBA, revenues were primarily driven by higher sales volumes and positive product mix effects. Earnings before financial result (EBIT) climbed to € 18,482 million (+32.0%).

The pre-tax earnings of € 17,096 million reflect a corresponding base effect: In the prior year, the revaluation of previously held shares in BBA of € 7.7 billion had significantly increased the BMW Group's financial result and Group earnings. In the absence of this effect, pre-tax earnings (-27.3%) and Group net profit (-34.5%) for 2023 were significantly lower than the previous year. Without the one-time revaluation effect referred to, Group net profit for 2023 would have been solidly higher year-on-year.

In the Automotive Segment, earnings before financial result (EBIT) increased significantly to € 12,981 million (+22.1%). Tailwinds came from the full consolidation of BBA, as well as sales growth and an improved product mix. This was offset by headwinds from research and development spending, as well as higher material costs. The EBIT margin for this period was 9.8% (2022: 8.6%). Excluding depreciation and amortisation for BBA assets from the purchase price allocation of € 1.4 billion previously referred to, the EBIT margin was 10.8%.

Thanks to this positive earnings development,the segment’s free cash flow totalled € 6,942 million at the end of December (2022: € 11,071 million/-37.3%), despite higher capital expenditure. The previous year included the positive one-time effect of € 5 billion from the full consolidation of BMW Brilliance.

The BMW Group's capital expenditure amounted to € 8,836 million (+8.5%) in 2023. Substantial expenditure was channelled into the electrification and autonomous driving modules, setting up high-voltage battery production in various markets and plant construction in Debrecen, Hungary.

Group research and development expenses totalled € 7,538 million (+13.8%). In addition to development expenses for the future models of the NEUE KLASSE, R&D spending was primarily focused on further electrification and digitalisation of the vehicle portfolio and automated driving.

Dividend of € 6.00 proposed – profit-sharing bonus for employees

The BMW Group’s high profitability is confirmed by the key figure “earnings per share” (EPS) which was € 17.67 for 2023. The high figure for the previous year of € 27.31 per share reflects the one-time effect from the revaluation of previously held BBA shares in the amount of € 7.7 billion. Without this effect, the figure for 2022 would have been € 15.66 per share, therefore the EPS in 2023 would reflect a significant increase of 12.8%.

The BMW Group reliably shares its success with its shareholders, with a payout ratio within the usual range of 30-40% for financial year 2023. The Board of Management and Supervisory Board will propose a dividend of € 6.00 per share of common stock (2022: € 8.50) and € 6.02 per share of preferred stock (2022: € 8.52) to the Annual General Meeting on 15 May. This represents a preliminary payout ratio of 33.7% (2022: 30.6%).

In keeping with the principle of performance and reward, employees in Germany will also share in the success of the company in an appropriate manner. For example, a skilled worker will receive € 8,400 for financial year 2023 (based on the salary group ERA 5 based on the Metal and Electronical Industry Bavaria), as well as another component for their pension plan.

Outlook for 2024: BMW Group expects profitable growth

In the Automotive Segment, owing to a slight increase in demand, full availability of new models and the upcoming model launches, deliveries of BMW, MINI and Rolls-Royce vehicles are projected to be slightly higher than the previous year. Fully-electric vehicles’ share of deliveries is forecast to increase significantly, compared to 2023. The EBIT margin in the Automotive Segment should be within the range of 8-10% in 2024.

A slight reduction in the CO₂ emissions of the EU new car fleet is to be expected, thanks to further improvement in vehicle fuel consumption and the rising number of vehicles with an electric drivetrain. The company therefore also expects its numbers to once again be significantly lower than the official targets in the EU.

The stable demand situation is also reflected in the Motorcycles Segment. Combined with full availability of models, including the BMW R 1300 GS, slightly higher deliveries are also expected in this segment. The EBIT margin is projected to be within the target range of 8-10%.

In the Financial Services Segment, RoE is forecast to be between 14-17%. As expected, supply and demand continues to normalise in the used car markets. It is therefore expected that revenues from remarketing lease returns will decrease further as compared to 2023.

Also due to this trend, Group earnings before tax will decrease slightly. Since the BMW Group continues to be a leader among its competitors in digitalisation and electrification of the vehicle fleet and intends to expand this position further, R&D spending and capital expenditure for future projects will peak in the Automotive Segment in 2024. The production network will also be further expanded in 2024 in connection with the NEUE KLASSE.

The above targets will be achieved with slightly higher employee numbers. The percentage of women in management positions at the BMW Group is also forecast to increase slightly.

Growing uncertainty around macroeconomic and geopolitical conditions could cause economic performance in some regions to deviate from the expected trends and developments. This concerns trade and customs policy, security policy and possible intensification of international trade disputes. The war in Ukraine and potential implications for the BMW Group’s business performance are also being closely monitored. The applicable restrictions, due to sanctions, have already been factored into the company’s guidance.

* * *

The BMW Group – an overview: Full year 2023		2023	2022	Change in %
Deliveries to customers
Automotive¹	units	2,554,183	2,399,632	6.4
BMW	units	2,252,793	2,100,689	7.2
MINI	units	295,358	292,922	0.8
Rolls-Royce	units	6,032	6,021	0.2
Motorcycles	units	209,066	202,895	3.0

Employees (as of 31 Dec. 2023)		154,950	149,475	3.7
EBIT margin Automotive Segment	percent	9.8%	8.6%	14.1
EBIT margin Motorcycles Segment	percent	8.1%	8.1%	-
EBT margin BMW Group²	percent	11.0%	16.5%	-33.3

Revenues	€ million	155,498	142,610	9.0
Automotive	€ million	132,277	123,602	7.0
Motorcycles	€ million	3,214	3,176	1.2
Financial Services	€ million	36,227	35,122	3.1
Other Entities	€ million	11	8	37.5
Eliminations	€ million	-16,231	-19,298	15.9

Profit before financial result (EBIT)	€ million	18,482	13,999	32.0
Automotive	€ million	12,981	10,635	22.1
Motorcycles	€ million	259	257	0.8
Financial Services	€ million	3,055	3,163	-3.4
Other Entities	€ million	-13	-203	93.6
Eliminations	€ million	2,200	147	-

Profit before tax (EBT)	€ million	17,096	23,509	-27.3
Automotive	€ million	12,642	18,918	-33.2
Motorcycles	€ million	258	269	-4.1
Financial Services	€ million	2,962	3,205	-7.6
Other Entities	€ million	-100	995	-
Eliminations	€ million	1,334	122	-

Group income taxes	€ million	-4,931	-4,927	0.1
Net profit	€ million	12,165	18,582	-34.5
Earnings per share of common stock	€	17.67	27.31	-35.3
Earnings per share of preferred stock³	€	17.69	27.33	-35.3
¹Deliveries include the joint venture BMW Brilliance Automotive Ltd., Shenyang.
²Ratio of Group earnings before taxes to Group revenues.
³ Common/preferred shares. Earnings per share of preferred stock are calculated by distributing the earnings required to cover the additional dividend of € 0.02 per preferred share proportionally over the quarters of the corresponding financial year.

The BMW Group – an overview: Q4 2023		Q4 2023	Q4 2022	Change in %
Deliveries to customers
Automotive¹	units	717,620	651,794	10.1
BMW	units	631,526	566,823	11.4
MINI	units	84,616	83,651	1.2
Rolls-Royce	units	1,477	1,320	11.9
Motorcycles	units	44,349	43,562	1.8

Employees (as of 31 Dec. 2023)		154,950	149,475	3.7
EBIT margin Automotive Segment	percent	8.5%	8.5%	-
EBIT margin Motorcycles Segment	percent	-7.6%	-9.4%	-19.0
EBT margin BMW Group²	percent	8.6%	8.2%	4.1

Revenues	€ million	42,968	39,522	8.7
Automotive	€ million	37,283	34,571	7.8
Motorcycles	€ million	643	691	-6.9
Financial Services	€ million	9,504	9,086	4.6
Other Entities	€ million	2	2	-
Eliminations	€ million	-4,464	-4,828	7.5

Profit before financial result (EBIT)	€ million	4,412	3,500	26.1
Automotive	€ million	3,171	2,932	8.2
Motorcycles	€ million	-49	-65	24.6
Financial Services	€ million	606	536	13.1
Other Entities	€ million	0	-16	-
Eliminations	€ million	684	113	-

Profit before tax (EBT)	€ million	3,682	3,253	13.2
Automotive	€ million	3,031	3,009	0.7
Motorcycles	€ million	-53	-57	7.0
Financial Services	€ million	511	533	-4.1
Other Entities	€ million	-212	-263	19.4
Eliminations	€ million	405	31	-

Group income taxes	€ million	-1,068	-1,078	0.9
Net profit	€ million	2,614	2,175	20.2
Earnings per share of common stock	€	3.77	3.43	9.9
Earnings per share of preferred stock³	€	3.78	3.44	9.9
¹Deliveries include the joint venture BMW Brilliance Automotive Ltd., Shenyang
²Ratio of Group earnings before taxes to Group revenues.
³ Common/preferred shares. Earnings per share of preferred stock are calculated by distributing the earnings required to cover the additional dividend of € 0.02 per preferred share proportionally over the quarters of the corresponding financial year.

GLOSSARY – explanatory comments on key performance indicators

Deliveries to customers
A new or used vehicle is recorded as a delivery once it is handed over to the end user (which also includes leaseholders under lease contracts with BMW Financial Services). In the US and Canada, end users also include (1) dealers when they designate a vehicle as a service loaner or demonstrator vehicle and (2) dealers and other third parties when they purchase a company vehicle at auction and dealers when they purchase company vehicles directly from the BMW Group. Deliveries may be made by BMW AG, one of its international subsidiaries, a BMW Group retail outlet, or independent third-party dealers. The vast majority of deliveries – and hence the reporting of deliveries to the BMW Group – is made by independent third-party dealers. Retail vehicle deliveries during a given reporting period do not correlate directly to the revenues that the BMW Group recognises in respect of that particular reporting period.

EBIT

Profit before financial result. Profit before financial result comprises revenues less cost of sales, less selling and administrative expenses and plus/minus net other operating income and expenses.

EBIT margin

Profit/loss before financial result as a percentage of revenues.

EBT

EBIT plus financial result.

Payout ratio

The payout ratio is preliminary. Although the Management Board and Supervisory Board are proposing a fixed dividend per share to the general meeting, the number of dividend-entitled shares is expected to fall even further as a result of the ongoing share buy-back program between now and the Annual General Meeting. Accordingly, the total amount paid out to shareholders until May 15 presumably will also change.

PHEV

Plug-in-hybrid electric vehicle.

If you have any questions, please contact:

BMW Group Corporate Communications

Max-Morten Borgmann, Communications BMW Group

Telephone: +49 89 382-24118

Email: max-morten.borgmann@bmwgroup.com

Eckhard Wannieck, Head of Communications BMW Group, Finance, Sales

Telephone: +49 89 382-24544

Email: eckhard.wannieck@bmwgroup.com

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

The BMW Group

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

In 2023, the BMW Group sold over 2.55 million passenger vehicles and more than 209,000 motorcycles worldwide. The profit before tax in the financial year 2023 was € 17.1 billion on revenues amounting to € 155.5 billion. As of 31 December 2023, the BMW Group had a workforce of 154,950 employees.

The success of the BMW Group has always been based on long-term thinking and responsible action. The company set the course for the future at an early stage and consistently makes sustainability and efficient resource management central to its strategic direction, from the supply chain through production to the end of the use phase of all products.

www.bmwgroup.com

Facebook: http://www.facebook.com/BMWGroup

Twitter: http://twitter.com/BMWGroup

YouTube: http://www.youtube.com/BMWGroupView

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

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

Press Contact: Abhay Dange
Tel: +91-124-456-6656
E-mail: abhay.dange@bmw.in

BMW Group continues on profitable growth course

Thu, 14 Mar 2024 13:24:00 +0100

Munich. The BMW Group achieved its business objectives for financial year 2023, as forecasted. Despite strong competition and volatile conditions, the company successfully maintained its profitable growth and defended its leading position in the global premium segment: A total of 2,554,183 premium vehicles weredelivered to customers in the year to the end of December (2022: 2,399,632 units / +6.4%) ‒ including 717,620 units in the fourth quarter (Q4 2022: 651,794 units / +10.1%). Deliveries for the full year had a solid increase, resulting in a market share of 3.3%.

High demand for its products was the driver for the BMW Group’s continuing strong financial performance: The Group EBT margin came in at 11.0% (2022: 16.5%; Q4: 8.6%; 2022: 8.2%), above the strategic target of 10%. The EBIT margin in the Automotive Segment of 9.8% (2022: 8.6%; Q4: 8.5%; Q4 2022: 8.5%) was within the forecast target range of 9.0-10.5%.

Throughout 2023, the company’s fresh and attractive range of fully-electric vehicles was a key growth driver. The BMW Group delivered a total of 375,716 fully-electric cars (2022: 215.752 units / +74,1%) to customers, achieving a share of around 15% of total sales, as planned. Including the PHEVs delivered, the BMW Group sold a total of 565,875 electrified vehicles (2022:433,792 units / +30.5%) and thus achieved a sales share of 22%.

The electrification of the vehicle portfolio contributes significantly to CO2 emissions reduction in the Group and also to the continued reduction of CO2 fleet emissions. In the European fleet, the BMW Group continued to reduce emissions in 2023: At 102.1 grams per kilometre of CO 2 (according to WLTP; 2022: 105 g/km / -2.8%), the preliminary figure was significantly below the target set by the European Union of 128.5 grams per kilometre.

“The year 2023 underlined how we are implementing our strategy consistently and successfully. We posted strong growth and substantially increased our percentage of fully-electric vehicles, while improving our operational profitability. A lot of people talk about ‘transformation’. For us, it’s more a question of continuous progress,” said Oliver Zipse, Chairman of the Board of Management of BMW AG, on Thursday. “We are advancing forward with our course – offering our customers the newest innovations and the latest technology, regardless of the vehicle’s powertrain. In this way, we aim to continue to deliver strong products for strong demand.”

Solid increase in Group revenues
Group revenues reported a solid increase in the full year and climbed to € 155,498 million (2022: € 142,610 million / +9.0% / adjusted for currency translation effects: +13.1%).

In the period from January to December 2023, the revenues of BMW Brilliance Automotive Ltd. (BBA) were fully included; in the prior year, this was only the case from 11 February 2022 onwards, following full consolidation. This should be factored into the year-on-year comparison.

In addition to full consolidation, revenues were primarily driven by higher sales volumes and positive product mix effects. Higher interest rates and tailwinds from loan financing also contributed to the growth in revenues – which were impacted by currency headwinds from the Chinese renminbi and the US dollar.

R&D expenses reach new high

Group research and development costs for the full year rose significantly to € 7,538 million (2022: € 6,624 million / +13.8%). In addition to development expenses for new models, like the new BMW 5 Series, the X3 and X5 (model update), Rolls-Royce Spectre* and future models for the NEUE KLASSE, R&D spending was primarily focused on further electrification and digitalisation of the vehicle portfolio and on automated driving.

The R&D ratio (according to the German Commercial Code) for the full year was 5.0% (2022: 5.0%) and therefore at the high end of the company’s long-term target range of 4.0-5.0%.

The BMW Group's capital expenditure increased in the full year to € 8,836 million (2022: € 7,791 million / +8.5%). Substantial investment was channelled into the electrification and autonomous driving modules, as well as setting up high-voltage battery production in various markets and plant construction in Debrecen, Hungary.

The capex ratio for the 12-month period came in at 5.7% (2022: 5.5%).

“We are making major investments in innovative technologies and electrification and digitalisation of our products and plants. We are investing in the future of the BMW Group and generate a strong free cashflow. Our strong financial performance paves the way for this. Our profitability today lays the foundation for our success in the future. Thanks to our highly efficient premium vehicles with leading technology, we aim to maintain our profitable growth in the future,” said Walter Mertl, member of the Board of Management responsible for Finance.

Group earnings (EBIT) significantly higher

The company's full-year earnings before financial result (EBIT) reflected the BMW Group’s strong operating performance: In 2023, EBIT climbed to € 18,482 million(2022: € 13,999 million / +32.0%). In addition to the full consolidation of BBA and higher vehicle deliveries, lower intersegment eliminations related to the leasing business also had a positive effect.

Between January and December, the BMW Group reported pre-tax earnings (EBT) of € 17,096 million (2022: € 23,509 million / -27.3%). Here, the negative fair value driven financial result of € -1,386 million (2022: € 9,510 million) reflects a corresponding base effect: In the prior year, the revaluation of BBA equity interests of € 7.7 billion, as part of the full consolidation, had significantly increased the BMW Group's financial result, Group earnings and Group net profit.

The EBT margin for January to December came in at 11.0% (2022: 16.5%).

Group net profit for the 12-month period amounted to € 12,165 million (2022: € 18,582 million / -34.5%). Without the one-time revaluation effect, Group net profit would have been higher year-on-year, with an EBT margin on par with the previous year.

Significant increase in Automotive EBIT in YTD December

In the Automotive Segment,full integration of the operating business of BMW Brilliance Automotive Ltd. (BBA), higher sales volumes and positive product mix effects boosted revenues for the 12-month period by 7.0% to € 132,277 million (2022: € 123,602 million / adjusted for currency translation effects: +11.3%), as did higher revenues from aftersales business. Negative currency translation effects, primarily from the Chinese renminbi and the US dollar, impacted revenue growth: Excluding these headwinds, revenues saw a significant increase of 11.3% for the full year.

Depreciation and amortisation from the purchase price allocation in connection with the full consolidation of about € 1.4 billion impacted the segment’s cost of sales for the full year as well as a slight increase in sales and administrative costs.

The Automotive Segment’s earnings before financial result (EBIT) for the full year were also significantly higher, at € 12,981 million (2022: € 10,635 million / +22.1%). A positive effect came from the full-year inclusion of the BBA result and from the net effect of volume, mix and pricing, driven by the higher sales volume and the higher share of top end as well as BMW M vehicles. However, headwinds resulted from higher research and development spending and increased manufacturing costs against 2022 as well as the higher share of electrified vehicles. The EBIT margin for this period was 9.8% (2022: 8.6%; +1.2 %-pts.). Excluding depreciation and amortisation for BBA assets from the purchase price allocation of € 1.4 billion previously referred to, the EBIT margin was 10.8%.

Thanks to this positive earnings development, the segment’s free cash flow amounted to € 6,942 million at the end of December (2022: € 11,071 million / -37.3%). The previous year included the positive one-time effect of around € 5 billion from the full consolidation of BMW Brilliance.

BMW AG share buyback programme continued

Based on the authorisation issued at the Annual General Meeting in May 2022, the Board of Management made the decision to buy back shares worth up to € 2.0 billion. During the initial share repurchase programme between July 2022 and June 2023, BMW AG repurchased a total of 22,199,529 shares of common stock for
€ 1,850 million and 1,923,871 shares of preferred stock for € 150 million. This is equivalent to 3.78% of the current share capital. In accordance with the Board of Management decision, all shares acquired were retired in the third quarter of 2023.

The second share buyback programme, worth up to € 2.0 billion, got underway in July 2023. By the end of 2023, BMW AG had acquired 4,218,363 shares of common stock and 942,892 shares of preferred stock. A total purchase price (excluding incidental acquisition costs) of around € 500 million was paid for the shares repurchased in this first tranche. This corresponds to 0.81% of the current share capital.

The second share buyback programme continued in January 2024 with the second tranche. As of 12 March 2024, the BMW Group had bought back 7,531,194 shares with a total value of € 734 million and thus holds 1.18% of the current share capital.

The second share buyback programme will be concluded no later than 31 December 2025.

Dividend of € 6.00 proposed

Shareholders will also participate in the success of financial year 2023. Subject to the approval of the Annual General Meeting, thecompany’s unappropriated profit (according to the German Commercial Code) of € 3,802 million (2022: € 5,481 million / -30.6%), representing a preliminary payout ratio of 33.7% (2022: 30.6%), will be distributed to shareholders from BMW AG’s net profit.

Taking into consideration the target range of 30-40% of net profit for the payout ratio attributable to the shareholders of BMW AG, the Board of Management and Supervisory Board will propose a dividend of € 6.00 per share of common stock (2022: € 8.50) and € 6.02 per share of preferred stock (2022: € 8.52) to the Annual General Meeting on 15 May. BMW Group employees will once again participate in the company's success in an appropriate way.

Stable earnings performance in Financial Services Segment

In the difficult competitive landscape of financial year 2023, BMW Group Financial Services reported slight growth in its volume of new business with retail customers, which increased to € 57,333 million (2022: € 55,449 million / +3.4%). Due to the improved product mix, the average financing volume per vehicle rose. The number of new contracts concluded with retail customers reached the previous year’s level of 1,542,514 (2022: 1,545,490 contracts / -0.2%). At the end of the year, the penetration rate – the percentage of new BMW Group vehicles leased or financed by the Financial Services Segment – stood at 38.2% (2022: 41.0% / -2.8 %-pts.).

In the 12-month period, the segment reported pre-tax earnings of € 2,962 million (2022: € 3,205 million / -7.6%). This decline in earnings mainly resulted from higher refinancing costs and the smaller total portfolio of 4,952,318 retail contracts (31 Dec. 2022: 5,210,246 contracts / -5.0%).

BMW Group Financial Services benefited from continuing high income from the resale of end-of-lease vehicles – although this was less positive year-on-year and therefore had a dampening effect on earnings. Prices for used cars are likely to continue this trend in 2024.

Lower credit risk provisioning compared to the previous year had a positive effect. In 2022, credit risk provisioning had been heavily influenced by geopolitical uncertainties and weaker macroeconomic prospects.
The credit loss ratio for 2023 remained at the low rate of 0.18%.

“The Financial Services segment supports our sales growth with its financing activities and makes a major contribution to earnings. We will be integrating our financial services business even more closely into our sales processes and our ‘customer journey’ going forward. Digitalisation of our processes will play a key role in this. In all areas of the company, digitalisation and AI will contribute to greater efficiency, speed and value creation,” according to CFO Mertl. “Also in view of the upcoming demographic change, these two topics are essential for the BMW Group.”

At 17.2%, return on equity in the Financial Services Segment for financial year 2023 (2022: 17.9% / -0.7%-pts.) was in line with the adjusted guidance of 16-19%.

Motorcycles Segment steps up deliveries again in centenary year

BMW Motorrad celebrated its centenary in 2023 with two limited edition models called “100 years”, three new models and four model updates. In its anniversary year, the segment also achieved a new all-time high, with a total of 209,066 motorcycles and scooters delivered to customers (2022: 202,895 units). This represents a slight increase of 3.0% and confirms expectations for the financial year.

In the 12-month period, BMW Motorrad revenues rose slightly to € 3,214 million (2022: € 3,176 million / +1.2%; adjusted for currency translation effects: +3.2%). The segment EBIT for January to December was € 259 million (2022: € 257 million / +0.8%) and therefore on a par with the previous year. The EBIT margin stood at 8.1% (2022: 8.1%).

BMW Group steers successful course in final quarter of the year

The BMW Group achieved dynamic growth in deliveries and a strong financial performance in the fourth quarter of 2023. It delivered 717,620 premium vehicles to customers (Q4 2022: 651,794 units / +10.1%), including 128,849 fully-electric vehicles (Q4 2022: 87,557 units / +47.1%).

Group revenues saw a solid increase in the fourth quarter to reach € 42,968 million (2022: € 39,522 million / +8.7%). Group research and development costs were higher in the final quarter of the year, at € 2,080 million (Q4 2022: € 1,739 million / +19.7%). The R&D ratio (according to the German Commercial Code) was stable at 5.9% (Q4 2022: 5.8% / +0.1 %-pts.). The BMW Group's capital expenditure totalled € 3,758 million (2022: € 3,111 million / +20.8%).

Group earnings before financial result (EBIT) of € 4,412 million (2022: € 3,500 million / +26.1%) were significantly higher year-on-year. Group earnings before tax (EBT) rose significantly in the fourth quarter to € 3,682 million (2022: € 3,253 million / + 13.2%). The EBT margin for this period was 8.6% (2022: 8.2%).

Group net profit for the fourth quarter totalled € 2,614 million (2022: € 2,175 million / +20.2%).

Automotive Segment revenues posted solid fourth-quarter growth to reach € 37,283 million (2022: € 34,571 million / +7.8%; adjusted for currency translation effects: +12.2%).

Earnings before financial result (EBIT) showed solid growth in the fourth quarter to € 3,171 million (2022: € 2,932 million / +8.2%). The EBIT margin of 8.5% (2022: 8.5%) remained stable from the previous year, underlining the strong operating performance of the Automotive Segment in the final quarter of the year which showed the seasonally high cost burden.

Solid earnings development in the Automotive Segment resulted in a free cash flow of € 1,183 million in the fourth quarter (2022: € 1,195 million / -1.0%).

In the Financial Services Segment, the penetration rate climbed to 39.5% in the fourth quarter and has therefore maintained its growth trajectory (2022: 37.1% / +2.4 percentage points). The segment’s fourth-quarter pre-tax earnings (EBT) totalled € 511 million (2022: € 533 million / -4.1%). This slight decrease was due to higher refinancing costs and a smaller total portfolio.

Employee numbers higher year-on-year

The BMW Group had 154,950 employees at the end of 2023 (2022: 149,475 / +3.7%). This slight increase in employee numbers was mainly in development and IT, as well as in the BMW Group’s global production network.

Proposed re-election of supervisory board members

With the Annual General Meeting on May 15, 2024, the current mandate of Supervisory Board members Dr. h.c. Susanne Klatten, Stefan Quandt and Dr. Vishal Sikka will come to an end. The Supervisory Board will propose re-electing Dr. h.c. Susanne Klatten, Stefan Quandt and Dr. Vishal Sikka for another four-year mandate.

* * *

You will receive further information on the Group Financial Statements 2023 and the outlook for the current financial year at the BMW Group Annual Conference on 21 March 2024. You can follow the virtual event from 9:00 am (CET) live in the internet at: https://www.live.bmwgroup.com/en/live-streaming/, followed by the live streaming of the Annual Conference Q+A with media from 10:30-11:30 am.
The live streaming of the Investor relations Q+A with analysts will be streamed from 12:30-01:45 pm at: https://www.bmwgroup.com/en/investor-relations/annual-conferences.html.

The BMW Group Report 2023 will be published on 21 March at 7.30 a.m. (CET) at https://www.bmwgroup.com/en/investor-relations/company-reports.html.

The BMW Group – an overview: Full year 2023		2023	2022	Change in %
Deliveries to customers
Automotive¹	units	2,554,183	2,399,632	6.4
BMW	units	2,252,793	2,100,689	7.2
MINI	units	295,358	292,922	0.8
Rolls-Royce	units	6,032	6,021	0.2
Motorcycles	units	209,066	202,895	3.0

Employees (as of 31 Dec. 2023)		154,950	149,475	3.7
EBIT margin Automotive Segment	percent	9.8%	8.6%	14.1
EBIT margin Motorcycles Segment	percent	8.1%	8.1%	-0.4
EBT margin BMW Group²	percent	11.0%	16.5%	-33.3

Revenues	€ million	155,498	142,610	9.0
Automotive	€ million	132,277	123,602	7.0
Motorcycles	€ million	3,214	3,176	1.2
Financial Services	€ million	36,227	35,122	3.1
Other Entities	€ million	11	8	37.5
Eliminations	€ million	-16,231	-19,298	-15.9

Profit before financial result (EBIT)	€ million	18,482	13,999	32.0
Automotive	€ million	12,981	10,635	22.1
Motorcycles	€ million	259	257	0.8
Financial Services	€ million	3,055	3,163	-3.4
Other Entities	€ million	-13	-203	-93.6
Eliminations	€ million	2,200	147	-

Profit before tax (EBT)	€ million	17,096	23,509	-27.3
Automotive	€ million	12,642	18,918	-33.2
Motorcycles	€ million	258	269	-4.1
Financial Services	€ million	2,962	3,205	-7.6
Other Entities	€ million	-100	995	-
Eliminations	€ million	1,334	122	-

Group income taxes	€ million	-4,931	-4,927	0.1
Net profit	€ million	12,165	18,582	-34.5
Earnings per share of common stock	€	17.67	27.31	-35.3
Earnings per share of preferred stock³	€	17.69	27.33	-35.3
¹Deliveries include the joint venture BMW Brilliance Automotive Ltd., Shenyang.
²Ratio of Group earnings before taxes to Group revenues.
³ Common/preferred shares. Earnings per share of preferred stock are calculated by distributing the earnings required to cover the additional dividend of € 0.02 per preferred share proportionally over the quarters of the corresponding financial year.

The BMW Group – an overview: Q4 2023		Q4 2023	Q4 2022	Change in %
Deliveries to customers
Automotive¹	units	717,620	651,794	10.1
BMW	units	631,526	566,823	11.4
MINI	units	84,616	83,651	1.2
Rolls-Royce	units	1,477	1,320	11.9
Motorcycles	units	44,349	43,562	1.8

Employees (as of 31 Dec. 2023)		154,950	149,475	3.7
EBIT margin Automotive Segment	percent	8.5%	8.5%	0.3
EBIT margin Motorcycles Segment	percent	-7.6%	-9.4%	-19.0
EBT margin BMW Group²	percent	8.6%	8.2%	4.1

Revenues	€ million	42,968	39,522	8.7
Automotive	€ million	37,283	34,571	7.8
Motorcycles	€ million	643	691	-6.9
Financial Services	€ million	9,504	9,086	4.6
Other Entities	€ million	2	2	0.0
Eliminations	€ million	-4,464	-4,828	-7.5

Profit before financial result (EBIT)	€ million	4,412	3,500	26.1
Automotive	€ million	3,171	2,932	8.2
Motorcycles	€ million	-49	-65	-24.6
Financial Services	€ million	606	536	13.1
Other Entities	€ million	0	-16	-100.0
Eliminations	€ million	684	113	-

Profit before tax (EBT)	€ million	3,682	3,253	13.2
Automotive	€ million	3,031	3,009	0.7
Motorcycles	€ million	-53	-57	-7.0
Financial Services	€ million	511	533	-4.1
Other Entities	€ million	-212	-263	-19.4
Eliminations	€ million	405	31	-

Group income taxes	€ million	-1,068	-1,078	-0.9
Net profit	€ million	2,614	2,175	20.2
Earnings per share of common stock	€	3.77	3.43	9.9
Earnings per share of preferred stock³	€	3.78	3.44	9.9
¹Deliveries include the joint venture BMW Brilliance Automotive Ltd., Shenyang
²Ratio of Group earnings before taxes to Group revenues.
³ Common/preferred shares. Earnings per share of preferred stock are calculated by distributing the earnings required to cover the additional dividend of € 0.02 per preferred share proportionally over the quarters of the corresponding financial year.

GLOSSARY – explanatory comments on key performance indicators

EBIT

Profit before financial result. Profit before financial result comprises revenues less cost of sales, less selling and administrative expenses and plus/minus net other operating income and expenses.

EBIT margin

Profit/loss before financial result as a percentage of revenues.

EBT

EBIT plus financial result.

Payout ratio

PHEV

Plug-in-hybrid electric vehicle.

If you have any questions, please contact:

BMW Group Corporate Communications

Dr Britta Ullrich, Finance Communications

Telephone: +49 89 382-18364

Email: britta.ullrich@bmwgroup.com

Eckhard Wannieck, head of Communications BMW Group, Finance, Sales

Telephone: +49 89 382-24544

Email: eckhard.wannieck@bmwgroup.com

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

The BMW Group

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

www.bmwgroup.com

Facebook: http://www.facebook.com/BMWGroup

Twitter: http://twitter.com/BMWGroup

YouTube: http://www.youtube.com/BMWGroupView

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

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

Press Contact: Abhay Dange
Tel: +91-124-456-6656
E-mail: abhay.dange@bmw.in

A successful 2023: BMW Group posts record sales, meets ambitious e-mobility growth targets

Tue, 09 Jan 2024 09:00:00 +0100

Munich. The BMW Group delivered a total of 2,555,341 BMW, MINI and Rolls-Royce vehicles to customers last year (+6.5%) – a new all-time sales high for the company. The BMW, Rolls-Royce and BMW Motorrad brands also reported new record highs in 2023. In the fourth quarter, BMW Group sales climbed to 718,778 units, up +10.3% on the previous year.

“Thanks to close co-operation with our retail partners and driven by the strong performance of our associates, the BMW Group was able to achieve a new all-time sales high for 2023. Customers around the world appreciate our strong brands BMW, MINI, Motorrad and Rolls-Royce and in particular the choice of different drive technologies across the entire BMW Group product range“, said Jochen Goller, member of the Board of Management of BMW AG, responsible for Customer, Brands, Sales. “With our new, highly attractive and technologically outstanding vehicles, we were able to ramp up electromobility even more dynamically in 2023 and achieve the goal of 15% of total sales from fully-electric vehicles”, Goller continued.

Thanks to a strong team effort, the BMW Group once again managed to significantly increase its worldwide deliveries of fully-electric products last year to 376,183 units. This represents a year-on-year sales growth of +74.4% for the company. In the fourth quarter, the BMW Group delivered 129,316 fully-electric vehicles to customers (+47.7%). Its sales of fully-electric vehicles for the year 2023 significantly outperformed the total market for fully-electric vehicles, underlining the company's role as an e-mobility pioneer.

The BMW Group is confident it will be able to maintain its BEV growth trajectory in 2024. With a range of more than 15 fully-electric models spanning all its brands’ main segments, the BMW Group is laying a strong foundation for dynamic BEV growth in the coming years: One in every five of the company’s newly delivered vehicles will have a fully-electric drive train this year; by 2025, it will be one in four. “We see continued high demand for our fully-electric products and, based on our strong, cross-brand product portfolio, expect to sell more than half a million fully-electric vehicles in 2024“, said Goller.

BMW brand once again tops global premium segment in 2023

With a total of 2,253,835 vehicles delivered to customers worldwide in 2023, the BMW brand posted growth of +7.3% from the previous year, with sales reaching a new all-time high. The BMW brand was once again able to defend its leading position in the global premium segment last year.

The brand’s fully-electric vehicles, in particular, were in high demand, with a total of 330,596 units delivered to customers in 2023 (+92.2%). Fourth-quarter deliveries of fully-electric BMW vehicles reached 113,458 units (+55.4%).

Models in the upper price segment, such as the BMW 7 Series and the BMW X7, also benefited from strong demand in 2023. Fully-electric models, including the BMW iX1* and the BMW i4*, in particular, were among the main sales drivers. Last year, the BMW X1, BMW 3 Series and the BMW X3 remained especially popular with customers.

With the launch of the fully-electric BMW i5* last year, the BMW Group now has a fully-electric option in each of its main segments. The fully-electric BMW iX2* has also been added to the line-up. Later this year, the first fully-electric touring model will make its debut as part of the BMW 5 model series.

BMW M GmbH grows sales significantly to reach new milestone

With a total of 202,530 performance and high-performance cars sold in 2023, BMW M GmbH posted its best-ever result in the company’s more than 50-year history – an increase of +14.3% compared to the previous year. In addition to the successful market launch of the M2*, XM* and M3* Touring high-performance models, the BMW i4 M50* fully-electric performance model also deserves particular mention. Just like the previous year, the BMW i4 M50 was the best-selling BMW M car and is a prime example of the systematic transformation of the brand towards electromobility. The range of battery-electric vehicles in the executive and luxury car segment was rounded out by the BMW i5 M60* and the BMW i7 M70*.

Strong BEV growth for MINI

The MINI brand sold a total of 295,474 vehicles (+0.9%) last year, with sales of fully-electric MINI models up 3.5% to 45,261 units. The fully-electric MINI Cooper SE* released in 2020 remains the best-selling MINI model variant. The fully-electric MINI Cooper SE Convertible was introduced onto the market last year. The limited edition of 999 units sold out in most markets within a few weeks of the announcement. Fully-electric vehicles now make up 15.3% of total MINI sales for the full year 2023.

The new MINI family will be released onto the market over the course of 2024. The fully-electric MINI Cooper SE and MINI Cooper E will be joined by two further fully-electric models, the MINI Countryman SE and the MINI Countryman E. Both the MINI Cooper and the MINI Countryman will also be available with an internal combustion engine. The yet-to-be-unveiled new MINI Aceman, a compact five-seater crossover, will be a pure-electric model as well.

Rolls-Royce ends 2023 with all-time sales high

Rolls-Royce Motor Cars enjoyed a hugely successful 2023, with strong global demand for its products and Bespoke orders at record levels. The brand based at Goodwood in the UK delivered 6,032 cars to customers last year – the highest recorded in its history. Rolls-Royce reported sales growth in most of the 50 markets in which it operates.

Significant growth was also seen in the value of the marque’s unrivalled Bespoke projects – the aspects of each and every Rolls-Royce hand-built at the company’s home at Goodwood and which are entirely personal to the commissioning client. To support the ever-increasing global demand for complex and unique Bespoke projects, Rolls-Royce further expanded its international Private Office network: Shanghai opened in 2023, while offices in Seoul and North America were announced for 2024. The company also announced substantial new investment in the Home of Rolls-Royce at Goodwood, UK, principally to extend capabilities for Bespoke, including Coachbuild.

2023 was also notable for the introduction of Rolls-Royce Spectre*, the marque’s eagerly awaited, first fully-electric motor car. Deliveries of Spectre began as planned in the fourth quarter, with orders already stretching into 2025. Demand for all current Rolls-Royce models remains strong: Cullinan* is the most requested model worldwide, followed by Ghost*, with Phantom* remaining the marque’s pinnacle product.

BMW Motorrad crowns centenary year with highest sales in its history

With a total of 209,257 motorcycles and scooters delivered to customers – an increase of +3.1% year-on-year, BMW Motorrad reported its highest-ever sales to mark its centenary year. The Europe, Asia, North and Latin America regions, in particular, all posted new sales highs and made a vital contribution to BMW Motorrad’s record sales. The brand’s compelling lineup, with successful products that define their respective segments, along with the market introduction of popular new models, like the powerful M 1000 R and the iconic R 1300 GS touring enduro, were strong factors in its successful performance in 2023.

BMW & MINI sales in the regions/markets

In the US, a total of 395,741 BMW and MINI vehicles were delivered to customers between January and December 2023. This represents an increase of +9.4%.

In Europe, sales of BMW and MINI vehicles totalled 942,805 units for the full year 2023 (+7.5%).

In China, the BMW Group sold 824,932 BMW and MINI vehicles in 2023 (+4.2%).

In Germany, 281,986 BMW and MINI vehicles were registered during this period.

BMW Group sales in Q4/YTD December 2023 at a glance

	4th quarter 2023	Compared with previous year %	YTD December 2023	Compared with previous year %
BMW Group Automotive	718,778	+10.3%	2,555,341	+6.5%
BMW	632,568	+11.6%	2,253,835	+7.3%
- BMW M GmbH	58,865	+11.5%	202,530	+14.3%
MINI	84,733	+1.3%	295,474	+0.9%
BMW Group electrified¹	181,075	+20.3%	566,486	+30.6%
BMW Group BEV	129,316	+47.7%	376,183	+74.4%
Rolls-Royce	1,477	+11.9%	6,032	+0.2%
BMW Motorrad	44,349	+1.8%	209,257	+3.1%

¹BEVs and PHEVs

	4th quarter 2023	Compared with previous year %	YTD December 2023	Compared with previous year %
Europe	272,686	+10.2%	942,805	+7.5%
Germany²	76,039	+12.3%	281,986	+11.7%
Asia	286,953	+10.2%	1,070,142	+4.1%
China	222,021	+11.5%	824,932	+4.2%
Americas	142,287	+8.1%	480,380	+9.3%
USA	118,609	+5.8%	395,741	+9.4%

²Provisional registration figures

The delivery figures reported in this press release are provisional and may change up until the BMW Group Report 2023 is published. Notes on how delivery figures are prepared can be found in the BMW Group Report 2022 on p. 67.

BMW Group Corporate Communications

Carolin Bachmann, Communications Sales

Telephone: +49 89 382-38801

Email: carolin.bachmann@bmwgroup.com

Dr Sina Unger, Communications Sales

Telephone: +49 89 382-47564

Email: sina.unger@bmwgroup.com

Eckhard Wannieck, head of Communications BMW Group, Finance, Sales

Telephone: +49 89 382-24544

Email: eckhard.wannieck@bmwgroup.com

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

Email: presse@bmwgroup.com

The BMW Group

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

In 2022, the BMW Group sold nearly 2.4 million passenger vehicles and more than 202,000 motorcycles worldwide. The profit before tax in the financial year 2022 was € 23.5 billion on revenues amounting to € 142.6 billion. As of 31 December 2022, the BMW Group had a workforce of 149,475 employees.

www.bmwgroup.com

Facebook: http://www.facebook.com/BMWGroup

Twitter: http://twitter.com/BMWGroup

YouTube: http://www.youtube.com/BMWGroupView

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

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

Press Contact: Abhay Dange
Tel: +91-124-456-6656
E-mail: abhay.dange@bmw.in

Riding the growth wave: BMW Group India records best-ever year to date performance for all brands – BMW, MINI and BMW Motorrad.

Fri, 13 Oct 2023 14:54:20 +0200

Gurugram. After posting the best-ever half-year in 2023, BMW Group India continues the success story by posting the best-ever year to date sales (January – September) – for all three brands – BMW, MINI and BMW Motorrad. In the first nine months, 9,580 cars (BMW and MINI) and 6,778 motorcycles (BMW Motorrad) have been delivered. BMW sold 8,998 units and MINI 582 units.

Mr. Vikram Pawah, President, BMW Group India said, “BMW Group India is on an unstoppable record-breaking path. We posted the highest growth in a decade last year and this trend continues in 2023 by first posting the best-ever half-year and now the best-ever January - September sales as well. Our business strategy is playing out well and there are many important factors driving success for us. Most importantly, we are achieving growth across segments in a healthy, balanced and profitable manner. Whether it is the top-end or entry-level, BEV dominance or SAV popularity, our segment-specific strategies and tremendous customer connect are yielding excellent results. We will keep the excitement up with powerful launches from our stable and are dedicatedly focused on ending 2023 on a high note.”

Period

BMW

MINI

BMW Group

(Cars)

BMW Motorrad (Motorcycles)

Jan-Sep 2023

8,998

+10%

582

+10%

9,580

+10%

6,778

+26%

BMW Group India is the leader in luxury battery electric vehicle (BEV) sales thanks to the most versatile electric range – BMW iX1, BMW i7, BMW iX, BMW i4 and MINI SE. Among all models, BEVs registered the highest growth. Five times more electric vehicles were delivered during January – September 2023 than in the same period in 2022. The BMW iX remains India's most sought-after luxury electric vehicle in India. The first-ever BMW iX1 was gone in a flash on launch day, getting completely sold out for 2023. Provision of complimentary charger with every BMW and MINI BEV and the leading charging infrastructure in premium segment at BMW Group dealer network in 35 cities plays a vital role. A landmark milestone in luxury electric sales has been achieved with over 1,000 electric BMW and MINI cars running on Indian roads today.

With unprecedented desire for BMW Luxury Class, sales for BMW 7 Series, BMW i7, BMW X7 and BMW XM, saw a trailblazing growth of 102% y-o-y. The flagship model – the BMW 7 Series – captured the limelight in ultra-luxury segment. The demand for BMW X7 has nearly doubled as its extremely popular among high-end Sports Activity Vehicles (SAV) customers.

BMW achieved best-ever sales of 8,998 units (+10%). Buoyed by the new launches, September sales hit an all-time high in the history of the brand. BMW Sports Activity Vehicles (SAV) contributed over 50% to YTD sales volumes. The highly successful BMW luxury sports activity vehicle - the BMW X1 – became the first in its segment to offer a new electric avatar (iX1) in addition to the petrol and diesel drivetrains. High number of orders for the new BMW X5 which was introduced in Q3 gave a further impetus to SAV sales.

Big Love drove MINI to record YTD sales with deliveries of 582 units (+10%). The locally produced MINI Countryman dominated with a share of 63% and the iconic MINI Hatch 17%. The contribution of electric MINI 3-Door Cooper SE was also at 17%.

BMW Motorrad thrived with sales of 6,778 units (+26%). Leading the volumes were ‘Made in India’ BMW G 310 R, BMW G 310 RR and BMW G 310 GS with a combined share of 88%. The core bikes available as completely built-up units saw a growth of 36%. The BMW GS Adventure segment, in particular, has been gaining tremendous popularity. The GS community is strong with over 10,000 GS bikes sold in India till date. Another popular segment is Sports with new bikes such as BMW S 1000 RR, BMW M 1000 RR and BMW M 1000 R taking the thrill a notch up.

BMW India Financial Services played an instrumental role by providing customised and flexible financial solutions which are significantly valuable to premium clientele of BMW, MINI and BMW Motorrad. Customers enjoy great value and complete peace of mind with BMW 360˚ finance solutions which offer attractive monthly instalments, assured buy-back options, flexible term-end opportunities and upgrades to a new BMW among other benefits.

If you have any queries, please contact:

BMW Group India

Abhay Dange, Director, Press & Corporate Affairs

Cell: +91 9910481013; Tel: + 91 124 4566 600; Email: Abhay.Dange@bmw.in

Richa Sharma, Business and Finance Communication, Press & Corporate Affairs

Cell: +91 9910022148; Tel: +91 124 4566 600; Email: Richa.Sharma@bmw.in

Internet: www.bmw.in

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

LinkedIn: https://www.linkedin.com/company/bmw-india/

#BMW #BMWIndia #BMWIndia_Official #SheerDrivingPleasure

Press Contact: Abhay Dange
Tel: +91-124-456-6656
E-mail: abhay.dange@bmw.in

BMW Group India posts best-ever Half-Year, Quarter and June.

Mon, 17 Jul 2023 09:07:00 +0200

Gurugram. BMW Group India has posted its best-ever half-year, quarter and June in 2023 – for all three brands – BMW, MINI and BMW Motorrad. In the first six months, 5,867 cars (BMW and MINI) and 4,667 motorcycles (BMW Motorrad) have been sold. BMW sold 5,476 units and MINI 391 units.

Mr. Vikram Pawah, President, BMW Group India said, “Our customers remain at the centre of everything we do! BMW Group India is redefining luxury with class-leading comfort, performance and aesthetics. The landmark of achieving the highest-ever half-year, quarter as well as June sales is a culmination of the company’s strategic steps. Whether it is the appeal of sheer driving pleasure or sustainable mobility, every product launched this year is extremely desirable and in tremendous demand. Most importantly, the highly emotional, digital experience of our brands is a clear distinguisher. Exclusive experiences like Joytown and The House of Forwardism have strengthened the connect with existing customers and are bringing new ones closer. We are glad to achieve this milestone and will keep on strengthening the foundations for future success.”

Period

BMW

MINI

BMW Group

(Cars)

BMW Motorrad (Motorcycles)

Jan-Jun 2023

5,476

+5.5%

391

+3%

5,867

+5%

4,667

+50%

BMW Group India continues its dominance in electric luxury segment thanks to the most diverse electric portfolio – BMW i7, BMW iX, BMW i4 and MINI SE. BMW Group India delivered eleven times more electric vehicles during January – June 2023 than in the same period in 2022. The BMW iX is the best-selling battery electric vehicle in Indian luxury car segment. The best charging infrastructure in premium segment at BMW Group Dealer Network in 35 cities played a vital role.

BMW achieved best-ever sales of 5,476 units (+5%). BMW Sports Activity Vehicles (SAV) contributed over 50% to sales volumes. The newly introduced BMW X1 stormed the segment with highest-ever bookings since its launch. As the highest-selling BMW model, it contributed over 20% to sales. With robust appearance and functional versatility, it embodies both the freedom of day-to-day city driving as well sheer driving pleasure. This makes it the most sought after SAV especially among young customers enjoying an active lifestyle. The order pipeline of the BMW X1 for next few months is very strong. The launch of the new BMW X5 will further strengthen the SAV sales momentum.

The newly launched BMW 3 Series Gran Limousine was the best-selling sedan with a share of nearly 20% in sales.

Sales of BMW Luxury Class, that includes the BMW 7 Series, BMW i7, BMW X7 and XM, have more than doubled (+128%). The demand for BMW i7 has been exceptionally good underpinning its position as the pinnacle of luxury. Due to high number of orders, the BMW 7 Series, BMW i7 and BMW X7 currently have a waiting period of 4 months.

MINI impressed with deliveries of 391 units (+3%). The locally produced MINI Countryman dominated with a share of 63% and the iconic MINI Hatch 20%. The all-electric MINI 3-Door Cooper SE has become the third-highest selling MINI model in India with a share of 14% in sales.

BMW Motorrad rode ahead with 4,667 units (+50%). Leading the sales volumes for BMW Motorrad were ‘Made in India’ BMW G 310 R, BMW G 310 RR and BMW G 310 GS with a combined share of nearly 90%. Other popular models were BMW S 1000 RR, BMW R 1250 GS / GSA and BMW C 400 GT scooter.

BMW Financial Services India played an instrumental role by providing customised and flexible financial solutions which are significantly valuable to premium clientele of BMW, MINI and BMW Motorrad.

Photo Caption: Mr. Vikram Pawah, President, BMW Group India with the BMW iX

If you have any queries, please contact:

BMW Group India

Abhay Dange, Director, Press & Corporate Affairs

Cell: +91 9910481013; Tel: + 91 124 4566 600; Email: Abhay.Dange@bmw.in

Richa Sharma, Business and Finance Communication, Press & Corporate Affairs

Cell: +91 9910022148; Tel: +91 124 4566 600; Email: Richa.Sharma@bmw.in

Internet: www.bmw.in