Note: This press release is a 1:1 copy of the original issued by BMW headquarters in Germany. No adaptions have been made to cater to the Irish market.

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.

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

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 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

Note: This press release is a 1:1 copy of the original issued by BMW headquarters in Germany. No adaptions have been made to cater to the Irish market. 

Munich. The BMW Group reported higher sales year-on-year in the second quarter: Between April and June, deliveries of BMW, MINI and Rolls-Royce vehicles increased by +0.4% to 621,271 units. In the first half of the year, the company delivered a total of 1,207,388 vehicles (-0.5%). Electrified vehicles saw significant sales growth compared to the previous year. With 318,949 fully-electric and plug-in hybrid vehicles delivered to customers, the BMW Group grew its sales by +18.5% in the first half of 2025. New orders across all drive technologies developed positively in the first six months, showing significant year-on-year growth. 

“Thanks to our attractive product line-up, we were able to close the second quarter successfully. Between April and June, the BMW Group reported sales growth of +0.4% compared to the same period last year,” said Jochen Goller, member of the Board of Management of BMW AG responsible for Customer, Brands, Sales. “In the second quarter, we also achieved an important milestone, with the delivery of our 1.5-millionth fully-electric vehicle. This success underlines once again how the BMW Group has evolved from an electric pioneer to one of the leading players in the BEV market – now offering more than 15 fully-electric models,” added Goller.

The BMW brand delivered 1,070,814 vehicles to customers in the first half of the year. During the same period, the brand increased its deliveries in all regions outside of China. The BMW brand posted strong growth in the Europe and Middle East regions.

Electrified vehicle sales also increased compared to the same period last year. With 272,402 electrified units delivered in the first half-year, the BMW brand achieved growth of +6.5%. Its plug-in hybrids (PHEVs), in particular, are seeing a surge in demand. In the first half of the year, the BMW brand delivered 98,339 PHEVs to customers – an increase of +28.9% year-on-year. BMW M GmbH sales were up +6.5%, with over 100,000 vehicles sold in the half-year period from January to June for the first time, marking BMW M GmbH's most successful half-year ever. The BMW M5* and BMW M5 Touring*, released in late 2024, continue to enjoy strong popularity, making significant contributions to sales growth.

The full availability of the New MINI Family showed results in the first half of the year: With a total of 133,778 vehicles sold, the MINI brand reported strong year-on-year growth of +17.3%. The brand grew in all regions worldwide. MINI also posted growth in the Chinese market in the first half-year. MINI’s fully-electric models experienced strong global demand and were the brand's main growth driver. In the first half of the year, more than one in three MINIs sold worldwide was a BEV.

The Rolls-Royce brand increased its sales by +9.4% year-on-year in the second quarter. In the first half of the year, the brand delivered 2,796 vehicles (-0.8%). In the first six months of 2025, BMW Motorrad sold 105,909 motorcycles and scooters to customers (-6.3%).

BMW Group sales in Q2/YTD June 2025 at a glance

¹BEVs and PHEVs                                                                                   

BMW & MINI sales in the regions/markets

²Provisional registration figures

The delivery figures reported in this press release are provisional and may change up until the BMW Group Report 2025 is published. Notes on how delivery figures are prepared can be found in the BMW Group Report 2024 on p. 427.

BMW Group Corporate Communications

Dr Sina Unger, Communications Sales
Telephone: +49 151 601 47564
Email: sina.unger@bmwgroup.com

Carolin Bachmann, Communications Sales
Telephone: +49 151 601 38801
Email: carolin.bachmann@bmwgroup.com  

Max-Morten Borgmann, head of Communications BMW Group, Finance, Sales
Telephone: +49 89 382-24118
Email: max-morten.borgmann@bmwgroup.com

Note: This press release is a 1:1 copy of the original issued by BMW headquarters in Germany. No adaptions have been made to cater to the Irish market.

Munich. With a total of 586,149 vehicles delivered to customers, the BMW Group’s global deliveries were largely in line with the previous year (-1.4%), despite subdued demand in China. In the first three months of 2025, the BMW Group saw growth in Europe (+6.2%) and the US (+4.0%), in particular. Outside of China, growth reached +5.9%.

The BMW Group continues its successful e-mobility ramp-up in 2025, navigating a volatile market environment with an attractive product line-up. The BMW Group delivered a total of 109,516 fully-electric BMW, MINI and Rolls-Royce vehicles to customers worldwide in the first three months of the year (+32.4%). Sales of fully-electric vehicles saw particularly strong growth in Europe (+64.2%).

“The BMW Group’s technology-open strategy is proving successful. Our products are winning over customers worldwide across all drive technologies, with positive momentum driven, in particular, by the new MINI models – especially the fully-electric variants. One in three MINIs sold in Europe and more than one out of every two sold in China were fully-electric,” said Jochen Goller, member of the Board of Management of BMW AG responsible for Customer, Brands, Sales.

“We are feeling confident, thanks to significant growth in new orders across all drive technologies, particularly in our domestic market of Germany,” added Goller.

The BMW Group is set to reach two important milestones worldwide in 2025: First, a total of three million electrified vehicles (BEVs and PHEVs) released onto the roads since the launch of the BMW i3 and BMW i8, and, second, 1.5 million fully-electric vehicles (BEVs) delivered to customers.

In the first quarter of 2025, the BMW brand sold 520,142 units worldwide. The brand increased deliveries across all sales regions outside of China, outperforming the total market in the Europe region and growing its sales in the US. The BMW brand also reported dynamic global sales growth for its fully-electric vehicles (+9.9%). Between January and March, 86,449 BMW BEVs were delivered to customers worldwide. M GmbH achieved sales growth of +5.0% in the first quarter, delivering a total of 50,494 vehicles. The main growth drivers were the high-performance BMW M5* sedan and M3* sports car, which are both in high demand across all regions.

The MINI brand, which updated its entire product range last year, sold 64,626 units worldwide – an increase of +4.1%. The brand’s fully-electric models, in particular, achieved significant growth, reaching a BEV share of 35.3% in the first quarter.

The Rolls-Royce brand delivered 1,381 units to customers between January and March (-9.4%). During the same period, BMW Motorrad sold 44,609 motorcycles and scooters (-3.9%).

BMW Group sales in Q1/YTD March 2025 at a glance

¹BEVs and PHEVs                                                                                 

BMW & MINI sales in the regions/markets

²Provisional registration figures

The delivery figures reported in this press release are provisional and may change up until the BMW Group Report 2025 is published. Notes on how delivery figures are prepared can be found in the BMW Group Report 2024 on p. 427.

BMW Group Corporate Communications

Carolin Bachmann, Communications Sales

Telephone: +49 151 601-38801

Email: carolin.bachmann@bmwgroup.com  

Dr Sina Unger, Communications Sales

Telephone: +49 151 601-47564

Email: sina.unger@bmwgroup.com

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

Telephone: +49 151 601-24118

Email: max-morten.borgmann@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 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

Note: This press release is a 1:1 copy of the original issued by BMW headquarters in Germany. No adaptions have been made to cater to the Irish market.

Munich. The BMW Group expects sequentially increasing deliveries in the final quarter of 2024. This follows a third quarter in which technical actions linked to the Integrated Braking System (IBS) presented extraordinary challenges. As stated in the ad hoc announcement on September 10, the technical actions – together with weak demand in China – dampened the sales and revenue situation in the reporting period from July to September. Moreover, additional IBS-related provisions for warranty obligations in the high three-digit million-euro range impacted the third quarter. As a result, the BMW Group adjusted its 2024 financial guidance.

Nevertheless, the ramp-up in e-mobility remained strong and made a positive contribution in Q3. BMW Group BEV deliveries grew significantly by +10.1% compared to the previous year, and the share of sales of fully electric vehicles rose to 19.1% percent.

The BMW Group delivered a total of 1,754,157 automobiles in the nine-month period (2023:1,836,563 automobiles/ -4.5%). In the third quarter, the premium manufacturer delivered 540,881 BMW, MINI and Rolls-Royce vehicles (2023: 621,699 automobiles/ -13.0%).

The BMW Group benefits from its global presence and was able to balance out the different sales developments in the major world regions. The BMW brand grew by +4% outside China and gained +0.1% points in global market share while the premium brands MINI and Rolls-Royce were affected by model changes.

In Europe, the BMW brand experienced moderate growth of +7.6% over the nine-month period. Double digit growth in individual markets such as Spain, UK, France and Italy was a key driver. Despite a notable impact of the IBS issue in the Americas region and delivery stops in the US market, BMW sales reached the previous year's level and BMW maintained a stable market share.

The company has been working hard to replace the IBS components and is expediting the processing of vehicles in customer hands and those in stock. The majority of stock vehicles requiring action will be addressed and delivered before the end of the year.

“After the extraordinary challenges in the third quarter, we are looking ahead: In the fourth quarter, we are back on track for stronger earnings in order to achieve our annual targets, despite planned high upfront expenditures,” said the Chairman of the Board of Management of BMW AG, Oliver Zipse, on Wednesday. “We are striking a balance between securing short-term earnings and long-term success: This year we are investing more than ever in new products, technologies and our plants, so that we can continue the BMW success story with the NEUE KLASSE from next year onwards.”

IBS-related delivery stops and delays significantly impacted the BMW Group key financial figures in the reporting period: In Q3, the BMW Group posted revenues of €32,406 million (2023: €38,458 million/ -15.7%; adjusted for currency translation effects -15.3%; Sep YTD: €105,964 million; 2023: €112,530 million/ -5.8%; adjusted for currency translation effects -4.8%).

R&D spending and capital expenditure to secure future competitiveness

The BMW Group has a solid and robust balance sheet which enables continued investments in the future. As previously announced, the company expects to post peak figures for both research & development and capital expenditure in 2024.At the core is the roll-out of NEUE KLASSE across the whole portfolio focused on electrification, decarbonisation and digitalisation of its product line-up and structures.

Group research and development expenditure for the first nine months totalled €6,642 million and was significantly higher than the previous year (2023: € 5,223 million/ +27.2%; in Q3: € 2,473 million/ +35.4%). The R&D ratio of 6.3% was also higher year-on-year due to declining revenues (2023: 4.6%/+1.7 percentage points; in Q3: 7.6%; +2.8 percentage points).

Impact on Group and Automotive Segment financial figures

Group operating profit (EBIT) in the third quarter was €1,696 million (Q3 2023:

€4,352 million/ -61.0%; Sep YTD: €9,627 million; 2023: €14,070 million/ -31.6%). Negative fair value measurement effects resulting from falling interest rates contributed significantly to the decline in the Group financial result of €-858 million (Q3/2023: €-289 million; Sep YTD: €-766 million; 2023: €-656 million). As a result, Group earnings before tax in the third quarter declined to €838 million (€4,063 million/ -79.4%; Sep YTD: €8,861 million; 2023: €13,414 million/ -33.9%). The Group EBT margin came in at 2.6% respectively at 8.4% after nine months (Q3/ 2023: 10.6%/ -8.0%-pts.; 2023: 11.9%/ -3.5%-pts.)

The Automotive Segment posted revenues of €27,854 million (2023: €32,096 million /-13.2%;adjusted for currency translation effects -12.8%) in the third quarter (Sep YTD: €90,863 million (2023: €94,994 million/-4.3%; adjusted for currency translation effects -3.1%). Vehicle sales declined and product mix was negatively impacted – mainly due to weaker demand in China and IBS-related delivery stops of higher-class vehicle models.

Earnings before financial result (EBIT) in the same reporting period totalled € 634 million (Q3 2023: €3,135 million/ -79.8%; Sep YTD: €6,028 million (2023: €9,810 million/ -38.6%). The EBIT margin decreased to 2.3% respectively to 6.6% in Sep YTD (Q3 2023: 9.8%/ -7.5 %-pts.; 2023: 10.3%/ -3.7%-pts). Excluding the depreciation resulting from the purchase price allocation of BBA, the Automotive EBIT margin came in at 3.5% for the third quarter and 7.7% for September YTD.

Free cash flow impacted by capital expenditure and inventory

Lower earnings and increased inventory – resulting from delivery stops and lower sales volumes – had a particular impact on Q3 auto free cash flow. Working capital changed by €-1.934 million over the period and high capital expenditure of €3,311 million weighed on free cash flow. In the third quarter, it posted €-2,480 million (2023: €2,618 million; Sep YTD: €-191 million/ 2023: €5,759 million). With the release of stock vehicles following IBS exchange, the company is aiming for inventory levels at the previous year's level in the fourth quarter. Lower inventory levels and a sequentially higher result will contribute to the forecast free cash flow of >€4 billion despite further high investments.

“With stringent management, the BMW Group remains on track for the forecast auto free cash flow for the full year”, said BMW Group Chief Financial Officer Walter Mertl. “In the fourth quarter, sequentially higher deliveries and a stronger product mix will support our earnings. Despite the extraordinary pressures in Q3, we are adhering to our planned extensive investments. These are the basis for our future automotive portfolio, for our profit generation in the coming years. We are committed to our future and are shaping it today with focus”, said Mertl.

Capex ratio in the third quarter was 6.7%; after nine months and stood at 5.3%. A capex ratio of > 6% is expected for the year as a whole — as in previous years, the fourth quarter will also show seasonally high capital expenditure.

The BMW Group has consistently continued its share buyback program: The third tranche of the current second share buyback programwas successfully completed on October 25, 2024.

Based on the authorization of the Annual General Meeting on May 11, 2022, BMW AG acquired a total of 6.19% of the share capital as of September 30, 2024.

Financial Services Segment sees significant growth in new business

In the Financial Services Segment, the number of new financing and leasing contracts concluded in the first nine months of the year rose significantly to 1,252,251 (2023: 1,112,817 contracts/ +12.5%). The segment's volume of new business also grew significantly to €46,531 million (2023: €40,973 million/ +13.6%). The penetration rate increased to 42.3% (2023: 37.7%; +4.6 %-pts.).

For the year to the end of September, the segment reported an EBT of € 2,146 million (2023: €2,451 million/ -12.4%). Lower revenues from the resale of end-of-lease vehicles, that resulted largely from the continuing normalisation of global used car markets, primarily weighed on the result. During the nine-month period, the credit loss ratio was 0.26% across the entire loan portfolio (2023: 0.15%).

Adjusted guidance confirmed

In the fourth quarter, the BMW Group will continue to implement the measures outlined in the IBS technical campaigns with focus and urgency. Accordingly, it intends to hand over vehicles to customers that have been blocked to date. In many markets, the BMW Group is experiencing robust demand for its premium vehicles.

For the fiscal year 2024, the BMW Group is confirming its adjusted full-year guidance as of September 10: Group earnings before taxes will decrease significantly. Vehicle deliveries in the Automotive Segment will be slightly lower than the previous year. The EBIT margin for 2024 is forecast to be within the range of 6% to 7%. The return on capital employed (RoCE) is expected to be between 11% and 13%.

Return on equity (RoE) in the Financial Services Segment is projected to be between 15-18%, reflecting the current improvement in business development.

In the Motorcycles Segment, faced with a challenging market and competitive landscape, the BMW Group expects customer deliveries to be on a par with the previous year. The EBIT margin for 2024 will be in the range of 6% to 7%, with a return on capital employed (RoCE) of between 14% and 16%. These targets will be achieved with slightly higher employee numbers.

This guidance assumes that geopolitical and macroeconomic conditions will not deteriorate. Given the many uncertainties surrounding the existing risks and opportunities, the BMW Group’s actual business performance may deviate from current expectations.

The BMW Group continues to fully leverage its young and attractive product portfolio and its proven approach of technology openness. Thanks to its flexibility, the balance across key global regions and a strong balance sheet, it is able to adapt to dynamic market changes while consistently pursuing its long-term business success.

GLOSSARY – explanatory comments on key performance indicators

BEV

Battery Electric Vehicle.

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.

EBT Margin

Profit/loss as a percentage of revenues.

PHEV

Plug-in-hybrid electric vehicle.

RoCE

Return on capital employed (RoCE). RoCE in the Automotive and Motorcycles segments is measured on the basis of relevant segment profit before financial result and the average amount of capital employed – at the end of the last five quarters – in the segment concerned. Capital employed corresponds to the sum of all current and non-current operational assets, less liabilities that generally do not incur interest.

RoE

Return on equity (RoE). RoE in the Financial Services segment is calculated as segment profit before taxes, divided by the average amount of equity capital – at the end of the last five quarters – attributable to the Financial Services segment.

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, from the supply chain through production to the end of the use phase of all products. 

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

Note: This press release is a 1:1 copy of the original issued by BMW headquarters in Germany. No adaptions have been made to cater to the Irish market.

Munich. In a globally challenging market, the BMW Group increased its sales of fully-electric vehicles by +19,1% in the first nine months of 2024, with a total of 294,054  BEVs delivered to customers. During this period, BMW brand sales of fully-electric models rose by +22.6% to 266,151 vehicles. The MINI brand also grew its fully-electric vehicle sales by +54.3% in the third quarter, delivering 16,536 BEVs to customers.

“ Our fully-electric vehicles are winning over customers worldwide – as shown by the significant double-digit growth in our BEV sales during the first nine months of the year,” said Jochen Goller, member of the Board of Management of BMW AG responsible for Customer, Brands, Sales. “We also grew our sales in the Europe region. Our attractive model line-up, which is designed for technology openness, gained traction in the marketplace, despite the challenging conditions overall. The BMW brand captured market share in Europe and significantly outperformed the region's total market,” Goller continued.

In Europe, the BMW brand delivered 577,803 vehicles to customers between January and the end of September (+7.6%), with particularly high demand in countries including the UK, Italy and France. The BMW brand's fully-electric models also performed exceptionally well in the European region, with 121,844 vehicles delivered to customers – an increase of +35.8%.

The BMW Group delivered a total of 1,754,158 BMW, MINI and Rolls-Royce vehicles to customers in the year to the end of September (-4.5%). This downward trend can be partly attributed to delivery stops associated with the supplied Integrated Braking System (IBS), which significantly impacted the third quarter, as well as the difficult market environment in China. In light of this development, on 10 Sept. 2024, BMW AG revised its sales targets for the financial year 2024.

Between January and September, the BMW brand experienced strong demand for its fully-electric models, with a total of 266,151 (+22.6%) vehicles sold. Most notably, the BMW iX1* and BMW i4* showed positive sales development. The BMW brand sold a total of 1,583,485 vehicles (-2.3%) in the year to the end of September. BMW M GmbH delivered 146,574 vehicles in the first nine months of 2024 (+2.0%), with growth driven by the BMW M2* and BMW M3 Touring* models, among others. The MINI brand, which is updating its entire portfolio this year, delivered a total of 166,703 (-20.9%) vehicles to customers in the year to the end of September. In the third quarter, fully-electric MINI models were particularly in demand, with 16,536 vehicles delivered to customers, representing growth of +54.3%. In the first nine months of this year, the Rolls-Royce brand presented a total of 3,970 motor cars to their new owners worldwide (-12.8%).

Between January and September, BMW Motorrad delivered 163,436 (-0.9%) motorcycles and scooters to customers.

BMW Group sales in Q3/YTD September 2024 at a glance

¹BEVs and PHEVs                                                                                   

 
BMW & MINI sales in the regions/markets

²Provisional registration figures

The delivery figures reported in this press release are provisional and may change up until the BMW Group Report 2024 is published. Notes on how delivery figures are prepared can be found in the BMW Group Report 2023 on p. 330.

ENDS

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, from the supply chain through production to the end of the use phase of all products.

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

Note: This press release is a 1:1 copy of the original issued by BMW headquarters in Germany. No adaptations have been made to cater for the Irish market.

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.

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

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

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 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/

Note: This press release is a 1:1 copy of the original issued by BMW headquarters in Germany. No adaptations have been made to cater for the Irish market.

Munich. The BMW Group continues to systematically reduce its fleet-wide CO₂ emissions and is making an important contribution to realising its ambitious CO₂ reduction targets for the whole group.

Based on preliminary internal calculations, the BMW Group’s EU fleet-wide emissions came in at 102.1 grams per kilometre (WLTP) for 2023 (2022: 105 grams per kilometre). This represents a reduction of 2.8 percent from the previous year. The BMW Group also outperformed the applicable fleet target limit for the company set by the European Union EU27+2 (EU, Norway, Iceland) of 128.5 grams per kilometre by 26.4 grams in 2023.

Implementation of the BMW Group’s electrification strategy is a key driver for its continuing efforts to reduce fleet-wide emissions.  In 2023, the company sold a total of 376,183 fully-electric vehicles worldwide – 74.4% more than in 2022. The BMW Group’s sales growth for fully-electric vehicles in 2023 therefore outpaced growth in the total BEV market.

With more than 15  fully-electric models in its line-up, the BMW Group aims to continue its successful BEV growth in 2024. One in five of the company’s newly delivered vehicles should have a fully-electric drive train this year; by 2025, it should be one in four. 

In addition to increasing electrification of the BMW Group fleet, continuous further development of conventional drive trains also helped lower CO₂ emissions. The latest update to the drive train kit has further boosted the efficiency of internal combustion engines, especially since autumn 2022.

The BMW Group views continuous emissions reduction across its vehicle fleet as an integral part of its sustainability strategy. By 2030, the company plans to reduce its total CO₂ emissions by at least 40 percent per vehicle from 2019 levels. The aim is to achieve this throughout the entire value chain – from the supply chain to production to the use phase. The BMW Group plans to be climate-neutral no later than 2050.

With these objectives, the BMW Group is pursuing a path that is in line with the Paris climate goal for limiting global warming. The company is the first German automotive manufacturer to join the “Business Ambition for 1.5° C” campaign launched by the Science-Based Targets Initiative and also part of the United Nations’ international Race to Zero campaign.

The delivery figures reported in this press release are provisional and may change up until the BMW Group Report 2023 is published.

Woodcliff Lake, NJ. BMW will debut a new 60-second advertisement during the Super Bowl on Sunday, February 13, 2022, to showcase its All-New, fully electric BMW iX Sports Activity Vehicle, which arrives in the US next month. The star-studded spot features legendary actor Arnold Schwarzenegger and Academy Award nominee Salma Hayek Pinault, and was directed by two-time Academy Award nominated director Bryan Buckley. It will air during the third commercial break of the first quarter of the game.

Schwarzenegger stars as Zeus, the Greek god of lightning, and Hayek Pinault plays his wife, the goddess Hera, as they retire from Mt. Olympus to a quiet life in Palm Springs, California.  However, the monotony of retirement quickly weighs on Zeus, who becomes frustrated by his struggles with earthly electronics and his nagging mortal neighbors’ constant requests to charge their electric golf carts and hedge trimmers. Meanwhile, Hera, the hero of the story, has fully acclimated and is thriving in retirement. In an effort to bring some excitement back into Zeus’s life, she gifts him with an all-electric BMW iX, which quickly helps reignite her husband’s electric mojo. The spot closes with the happy couple rocking down the road in their new BMW iX to Eddy Grant’s “Electric Avenue” while Zeus uses his electric power to change the traffic lights to green.

“All-electric mobility is at the very heart of the BMW brand,” said Jens Thiemer, senior vice president, customer and brand, BMW AG. “There is no better place to make this statement than in front of one of the largest television audiences in the world, where viewers tune in as much for the commercials as they do for the game. With Arnold and Salma, we are able show the world the new BMW iX in a memorable and impactful way.”

“The humor lies in this legendary god of lightning, who is supposed to be indestructible, battling with everyday electronics,” said Schwarzenegger. “It is only when his brilliant wife presents him with the gift of an all-electric BMW iX that Zeus is struck with the mighty power of electricity and is completely rejuvenated.”

The spot was conceived by BMW’s lead U.S. creative agency, Goodby Silverstein & Partners, and directed by two-time Academy Award nominated director Bryan Buckley, highly acclaimed for his work on more than 65 Super Bowl commercials. The ad also marks Hayek Pinault’s debut in a Super Bowl spot and the first time she and Schwarzenegger have costarred in a national ad.

“This is my first Super Bowl commercial—and the first time I’ve played a Greek goddess,” said Hayek Pinault. “Seventy-five percent of the decisions made in a marriage about where to spend the money are made by women, and in this commercial, it is the woman who decides on the right car to get her husband back on track. Of course, the commercial is entertaining, but there is also a real human truth to it.”

“I’ve done 60-some-odd Super Bowl spots. I’ve never had more star power than these two,” said director Bryan Buckley. “When I first saw  Schwarzenegger’s name on the script, I was in. And Salma—there is no one greater as an actress. It’s a movie in 60 seconds, and it’s on the biggest platform.”

“Transcending sports, this iconic annual event isn’t just a championship game. It’s a cultural phenomenon where viewers pay even more attention when the action on the field stops,” said Rich Silverstein, co-founder and co-chairman of Goodby Silverstein & Partners. “There’s only one person on the planet who could say he’s Zeus, and that’s Arnold. And there’s only one brand worthy of being called the Ultimate Electric Driving Machine, and that’s BMW. We needed to showcase this in a big way, and that is what we’re doing on February 13.”

Designed to provide more than just mortal mobility, the BMW iX brings together the fifth generation of BMW eDrive technology with the company’s latest developments in the fields of design, connectivity, digital services and sustainability. With 516 hp and a 0–60 time of only 4.6 seconds, the BMW iX offers an exhilarating driving experience with an EPA estimate of up to 324 miles of all-electric range and the latest in-vehicle technology, including 5G connectivity, a sweeping curved display that unites the 12.3-inch information display with a 14.9-inch central control display, and the debut of BMW iDrive 8, the company’s latest user-interface system. The BMW iX starts at $83,200 plus $995 destination and handling.

“This is a pinnacle event in the U.S. and the perfect stage on which to introduce the BMW iX to our customers,” said Uwe Dreher, vice president, marketing, BMW of North America. “We have already seen a significant number of preorders for both the BMW iX and BMW i4, and a huge amount of excitement for these two new electric vehicles.”

Alongside the BMW iX, BMW will also launch the fully electric BMW i4 four-door Gran Coupe in the U.S. next month as the company takes a major step toward its stated goal of reaching global sales of 50% electric vehicles by 2030.

BMW’s last Super Bowl had appeared in 2015 and featured Katie Couric and Bryant Gumbel as they marveled over BMW’s first fully electric production vehicle, the BMW i3. The BMW i3 was a pioneer of electromobility and later became one of the best-selling premium electric vehicles in the world.

The official BMW Super Bowl Spot 2022 can be found at:
https://www.youtube.com/watch?v=nUC1QA5gRcU.

If you have any questions, please contact:

Corporate Communications

Phil DiIanni
Telephone: +1-201-785-4555
E-Mail: phil.dilanni@bmwna.com

Matt Spadaro
Telephone: +1-201-466-9896
E-Mail: matthew.spadaro@bmwna.com

Munich / Seoul. The BMW Group is forging ahead with electromobility and deepening its existing business relationships with battery cell manufacturers CATL (Contemporary Amperex Technology Co. Limited) and Samsung SDI.

The original CATL order volume of four billion euros announced in mid-2018 will now be increased to 7.3 billion euros (contract duration from 2020 to 2031), with 4.5 billion euros for the BMW Group and 2.8 billion euros for the Chinese production site of the BMW Brilliance Automotive Ltd. (BBA) joint venture in Shenyang. The BMW Group is the first customer of the CATL battery cell plant currently under construction in Erfurt, Germany. “We strongly supported and played an active part in establishing CATL in Germany,” said Dr. Andreas Wendt, member of the Board of Management of BMW AG responsible for Purchasing and Supplier Network.

The BMW Group has also signed a long-term supply contract for its fifth-generation electric drive trains with its second battery cell supplier, Samsung SDI. The contract, with value of 2.9 billion euros, extends from 2021 to 2031. “In this way, we are securing our long-term battery cell needs. Every cell generation is awarded in global competition to the leading manufacturer from both a technology and a business perspective. This ensures we always have access to the best possible cell technology,” Wendt announced at a supplier event today in Seoul, South Korea.

The BMW Group will source the cobalt needed as a key raw material for cell production directly from mines in Australia and Morocco and make it available to CATL and Samsung SDI. The same applies to lithium, which the BMW Group will also source directly from mines, including from Australia. This gives the company full transparency over where both raw materials come from. Compliance with environmental standards and respect for human rights have the highest priority. The BMW Group's fifth-generation electric drive trains from 2021 on will also be produced entirely without using rare earths. “This means we will no longer be dependent on their availability,” explained Wendt.

Extensive in-house expertise in battery cell technology
The BMW Group possesses extensive in-house expertise throughout the entire value chain for battery cell technology. In-house battery production takes place at BMW Group Plants Dingolfing (Germany) and Spartanburg (USA), and at the BBA plant in Shenyang (China). The BMW Group has also localised battery production in Thailand and is working with the Dräxlmaier Group in this area.

On 14 November, the company opened its Battery Cell Competence Centre in Munich. The aim of the competence centre is to advance battery cell technology and introduce it into production processes. The company invested a total of 200 million euros in the location, which is set to create up to 200 jobs. The production of battery cell prototypes makes it possible to analyse and fully understand cell value creation processes. “Whether we then produce the cells ourselves at a later date, will largely depend on how the supplier market develops,” according to Wendt.

The BMW Group has formed a joint technology consortium with Swedish battery manufacturer Northvolt and Umicore, a Belgian developer of battery materials, for the purpose of developing the cell technology crucial to electromobility. The cooperation will focus on creating a complete, sustainable value chain for battery cells in Europe, extending from development and production all the way to recycling. Recycling of battery components plays a decisive role in closing the materials cycle as far as possible and maximising reuse of raw materials as demand for battery cells grows.

BMW Group is a pioneer in electromobility – 25 electrified models by 2023

By 2023, the BMW Group will have 25 electrified models in its line-up. The basis for this is created by flexible vehicle architectures for fully-electric vehicles, plug-in hybrids and models with combustion engines that enable the company to respond quickly to changing conditions. More than half of the 25 models will be fully electric. The BMW Group will double its sales of electrified vehicles between 2019 and 2021. The company expects to see a steep growth curve up to 2025: Global sales of electrified vehicles should increase by an average of over 30 percent every year. In Europe, the company is also following an ambitious growth logic: The aim is to increase the percentage of electrified vehicles in the new vehicle fleet to a quarter in 2021 and to a third in 2025; by 2030, they should account for half of sales volumes.

As an e-mobility pioneer, the BMW Group is already a leading supplier of electrified vehicles. By the end of 2019, the company aims to have more than half a million vehicles with fully-electric or plug-in hybrid drive trains on the roads. Within two years, the BMW Group will offer five fully-electric series-production vehicles: Alongside the BMW i3*, with more than 160,000 units built to date, this year will see the start of production of the fully-electric MINI* at Plant Oxford. This will be followed in 2020 by the fully-electric BMW iX3 from Shenyang (China) and, in 2021, by the BMW iNEXT, which will be produced in Dingolfing and the BMW i4 from Plant Munich.

Please contact us if you have any questions:

Corporate Communications

Saskia Eßbauer, Corporate Communications

Saskia.Essbauer@bmw.de, Telephone: +49 89 382 18364

Mathias Schmidt, Head of Corporate and Culture Communications

Mathias.M.Schmidt@bmwgroup.com, Telephone: +49 89 382 24544

Internet: 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 31 production and assembly facilities in 15 countries; the company has a global sales network in more than 140 countries.

In 2018, the BMW Group sold over 2,490,000 passenger vehicles and more than 165,000 motorcycles worldwide. The profit before tax in the financial year 2018 was € 9.815 billion on revenues amounting to € 97.480 billion. As of 31 December 2018, the BMW Group had a workforce of 134,682 employees.

The success of the BMW Group has always been based on long-term thinking and responsible action. The company has therefore established ecological and social sustainability throughout the value chain, comprehensive product responsibility and a clear commitment to conserving resources as an integral part of its strategy.

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/bmwgroup/

LinkedIn: https://www.linkedin.com/company/bmwgroup/

·      Two years early: 25 electrified models in 2023

·      Steep growth curve: sales of electrified vehicles to climb more than 30 percent per year up to 2025

·      Sales of electrified vehicles set to more than double between 2019 and 2021

·      World premieres at #NEXTGen: BMW Vision M NEXT and BMW Motorrad Vision DC Roadster showcase next-generation e-mobility

·      BMW eDrive Zones function fitted as standard in BMW plug-in hybrids from 2020

·      Krüger: “Moving sustainable mobility up a gear”

Munich. Fully charged as it accelerates along its Future Highway 2025, the BMW Group is adjusting frequency to up the tempo of its electromobility expansion programme. The company will now achieve the total of 25 electrified models previously announced for 2025 two years earlier, in 2023. Thanks to flexible vehicle architectures for fully-electric, plug-in hybrid and combustion engine drive trains, the company is able to respond quickly to changing conditions. More than half of the 25 models will be fully electric.

“We are moving up a gear in the transformation towards sustainable mobility, thereby making our company fit for the future: Over the past two years, we have consistently taken numerous decisions that we are now bringing to the roads. By 2021, we will have doubled our sales of electrified vehicles compared with 2019,” said Harald Krüger, Chairman of the Board of Management of BMW AG, in Munich on Tuesday. “We will offer 25 electrified vehicles already in 2023 – two years earlier than originally planned. We expect to see a steep growth curve towards 2025: Sales of our electrified vehicles should increase by an average of 30 percent every year.”

As part of the new #NEXTGen communications format, the BMW Group is showcasing the next generation of mobility and next steps it’s taking in that direction. The BMW Vision M NEXT provides a glimpse of the dynamic future of the BMW brand in the form of a striking electrified sportscar. The BMW Vision M NEXT is clearly focused on the person driving the vehicle, with intelligent technology to transform them into the ultimate driver. The BMW Motorrad Vision DC Roadster previews the future of BMW Motorrad with alternative drive forms. This highly emotional motorcycle preserves the identity and iconic BMW Motorrad appearance, but also offers a new form of driving fun.

“Our vision is clear: sustainable mobility, produced in a sustainable manner. We have set ourselves the goal of only buying electricity from renewable energy sources for all our locations worldwide from 2020,” said Krüger. “We fulfil our social responsibility – in all its different facets. We are firmly committed to emission-free driving. At the same time, we stand by our corporate responsibility towards our employees, shareholders and investors.”

The BMW Group: a pioneer in electromobility

As an e-mobility pioneer, the BMW Group is already a leading supplier of electrified vehicles. By the end of 2019, the company aims to have more than half a million vehicles with fully-electric or plug-in hybrid drive trains on the roads. Within two years, the company will offer five fully-electric series-production vehicles: Alongside the BMW i3, with more than 150,000 units built to date, this year will see the start of production of the fully-electric MINI at Plant Oxford (UK). This will be followed in 2020 by the fully-electric BMW iX3 from Shenyang (China) and, in 2021, by the BMW iNEXT, which will be produced in Dingolfing (Germany), and the BMW i4 from Plant Munich (Germany).

Including its extensive fleet of plug-in hybrids, the BMW Group has the widest range of electrified vehicles on the market. Updated, extended electric-range plug-in-hybrid versions of the BMW 3 Series, BMW 7 Series and BMW X5 were presented alongside the new BMW X3 plug-in hybrid at this year’s Geneva Motor Show. A few weeks later, the updated plug-in hybrid variant of the BMW X1 Long Wheelbase Version, which is produced locally for the Chinese market, was shown at the Shanghai Auto Show. Later this summer, plug-in hybrid versions of the BMW 5 Series and BMW 2 Series Active Tourer with next-generation technology and longer electric range will also be released. These will be followed next year by the BMW X1 and the BMW 3 Series Touring as plug-in hybrid models. This diversity of electrified drive concepts underlines the importance of technology openness on the road to sustainable mobility.

The BMW Group has always promoted emission-free mobility and advocated for its effective support. However, the demands of future mobility will be multifaceted. There will not be just one single solution that meets the mobility needs of all customers around the world. People living in rural areas, for instance, need different technological solutions for mobility than those in cities.

BMW eDrive Zones standard in plug-in hybrids from 2020

The effective role plug-in hybrids can play in achieving emission-free mobility in cities is demonstrated by the BMW eDrive Zones function, which will be standard in BMW plug-in hybrids from 2020: In cities that establish “green zones” solely for emission-free driving, geofencing technology will be able to recognise these automatically. When the vehicle enters one of these zones, it will automatically switch to pure electric driving mode. In this way, BMW is paving the way for plug-in hybrids to receive the same access rights to green zones as fully-electric vehicles, since they behave the same in these areas.

This new type of operating strategy significantly boosts the potential of plug-in hybrid vehicles to reduce emissions. Increasing the use of electric driving not only optimises efficiency, but also helps reduce operating costs for customers – especially in city traffic. After the idea was born, the first real-life test for the BMW eDrive Zones function is the BMW Group’s “Electric City Drive” pilot project, in conjunction with the City of Rotterdam and the local Erasmus University.

New #NEXTGen communications format

With the “BMW Group #NEXTGen” format, the company is taking a new approach to presenting its future technologies, services and products. The BMW Group invited international journalists, analysts and other stakeholders to the BMW Welt in Munich to experience six world premieres and two highly emotional vision vehicles. The programme will be rounded off with a Global Influencer Day on 26 June.

In this way, the company is building on its existing global commitment to international auto shows and tech and future fairs with a regular independent format for individual mobility “made by the BMW Group”. In addition to world premieres of new models, a particular focus will be on experiencing the latest technological developments from all D+ACES areas of the company: Design, Autonomous Driving, Connectivity, Electrification, Services.

If you have any questions, please contact:

Corporate Communications

Max-Morten Borgmann, Corporate Communications

Telephone: +49 89 382-24118, Max-Morten.Borgmann@bmwgroup.com

Mathias Schmidt, head of Corporate and Culture Communications

Telephone: +49 89 382-24544, Mathias.M.Schmidt@bmw.de

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 31 production and assembly facilities in 15 countries; the company has a global sales network in more than 140 countries.

In 2018, the BMW Group sold over 2,490,000 passenger vehicles and more than 165,000 motorcycles worldwide. The profit before tax in the financial year 2018 was € 9.815 billion on revenues amounting to € 97.480 billion. As of 31 December 2018, the BMW Group had a workforce of 134,682 employees.

The success of the BMW Group has always been based on long-term thinking and responsible action. The company has therefore established ecological and social sustainability throughout the value chain, comprehensive product responsibility and a clear commitment to conserving resources as an integral part of its strategy.

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/bmwgroup/