Munich. The BMW Group increased its sales in Europe and the US in the first nine months of the year, although business in China remained challenging. In Europe, deliveries rose by around +4.5%, while in the US, the company recorded growth of +3.4%. In the first nine months of the year, the BMW Group delivered more than 1.7 million vehicles to customers worldwide, representing a slight decline in sales (-4.9%).

“In difficult market conditions, we were able to hold our own in Europe and the US. The continued strength in new orders for our fully electric vehicles, in particular, confirms our course. The BMW iX3* is providing positive impetus for growth in the market, and we are also seeing strong customer interest in the new BMW 3 Series and BMW X5,” said Jochen Goller, member of the Board of Management of BMW AG responsible for Customer, Brands, Sales. “The product momentum generated by our Neue Klasse models and Neue Klasse technologies strengthens our position for the challenges ahead.”

Between July and the end of September 2026, the BMW Group delivered 110,257 fully electric vehicles worldwide (+7.2%). In Europe, one in three BMW Group vehicles delivered to customers during this period was fully electric (34.7%). BEV sales increased here disproportionately to 81,941 units (+37.5%). This also applies to Germany, where the BMW Group’s fully electric models recorded exceptionally high growth (+38.5%).

The BMW brand delivered around 1.5 million vehicles to customers between January and the end of September (-6.4%). In Europe, the BMW brand reported growth of +1.4%. In the US, the BMW brand also increased its sales +4.3%, achieving growth in an overall declining market, driven by higher sales of BMW X models.

In China, the BMW brand’s decline in sales (-21.2% YTD September) reflects the performance of the automotive market as a whole. The rollout of the China version of the new BMW iX3 will get underway there in November. BMW M GmbH delivered 148,510 vehicles (-6.1%) worldwide in the first nine months of 2026, with sales remaining stable in the declining Chinese market.

Since the start of the year, MINI has sold a total of 220,247 vehicles, increasing its deliveries by 6.8%. 37.2% of those vehicles were fully electric. This positive trend was partly driven by the John Cooper Works models and the MINI Paul Smith Edition*. Further impetus is expected from the new MINI Countryman Untamed Edition.

The Rolls-Royce brand delivered 3,592 vehicles to customers between January and September (-12.4%). In the first nine months of the year, BMW Motorrad sold 149,452 motorcycles and scooters to customers (-6.1%).

BMW Group sales in Q3/YTD September 2026 at a glance

¹ BEVs and PHEVs

BMW & MINI sales in the regions/markets

² Provisional registration figures
³ Asia-Pacific, Eastern Europe, Middle East, Africa

The delivery figures reported in this press release are provisional and may change up until the BMW Group Report 2026 is published. Notes on how delivery figures are prepared can be found in the BMW Group Report 2025 on p. 427.

Questions and answers:

How many cars did the BMW Group deliver to customers in the first nine months of 2026?
The BMW Group delivered a total of 1,707,799 vehicles between January and the end of September.

How did BMW Group sales perform in the first nine months of 2026?
Despite the challenging market conditions, the BMW Group achieved growth in Europe and the US. From January to September, deliveries increased by 4.5% in Europe and 3.4% in the US.

Why are you already declaring the new BMW iX3 a success?
The new BMW iX3 has reached more than 100,000 new orders in Europe within just one year. This makes it the most successful market launch of a BMW Group model to date and underscores its role as a driver of electromobility.

How successful are the BMW Group’s electric cars?
In the third quarter of 2026, the BMW Group delivered 110,257 fully electric vehicles worldwide (+7.2% year-on-year). In Europe, BEV sales climbed 37.5% to 81,941 units. That means that one in three BMW Group vehicles delivered to customers was fully electric (34.7%).

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 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.

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

Munich. The BMW Group provided a first glimpse of its future plans at its Capital Market Day 2026. The aim is to strengthen the company’s resilience and enhance the competitiveness of its structures. In this way, the BMW Group is preparing to face increasingly challenging market conditions in the years ahead. To achieve this, the company is relying on its strategic strengths: technology openness, potential for technological innovation, a global presence and a clear premium brand strategy.

In recent months, the BMW Group has made far-reaching decisions and begun implementing initial measures to significantly increase speed and efficiency across the company. A large number of additional topics are currently being evaluated, with decisions expected by spring 2027. Based on these measures, the company aims to be back within its long-term target range of eight to ten percent for EBIT margin in the Automotive Segment by the start of the next decade. Free cash flow in the Automotive Segment should then increase to at least seven billion euros. As an initial interim step in 2028, the EBIT margin is expected to be within the range of three to five percent.

“The BMW Group has always been at the forefront of the automotive industry – and that is where it belongs in the future as well. Under increasingly challenging conditions, we have defined initial measures to reposition ourselves and will implement them with strong momentum,” said Milan Nedeljković, Chairman of the Board of Management of BMW AG, on Wednesday. “The BMW Group has the critical expertise to successfully pursue this path. The strengths of our corporate culture are also crucial to this: Courage and pragmatism will be just as important as having an entrepreneurial mindset and the determination to succeed,” Nedeljković continued.

Walter Mertl, member of the Board of Management of BMW AG responsible for Finance, added: “The BMW Group remains committed to maintaining its consistent focus on value creation and sustainable profitability. At the same time, we will continue to ensure that our shareholders also share in the company’s long-term success.”

Regional and focused: Product portfolio revised to enhance profitability
As the first step in this process, the BMW Group’s model line-up will be aligned even more systematically with diverse regional customer preferences. This includes targeted expansion and strengthening of the product range, as well as significant adjustments to its drive train portfolio, focusing on models that can deliver the greatest value for customers and the highest contribution margins over the long term in each market. At the high end of the portfolio, the BMW, BMW M and Rolls-Royce brands will be refined to leverage their respective strengths and unlock additional earnings potential.

In this context, the BMW Group will bring the first model of the BMW ALPINA brand to market in the coming year. Inspired by the BMW 7 Series, the company is strategically expanding its range of products in the segment between BMW and Rolls-Royce with this new offering and tapping into additional potential at the top end of the market.

At the same time, the number of variants across the entire portfolio will be reviewed and reduced to optimise profitability. For example, there will be no successor to models such as the BMW 2 Series Active Tourer.

More local production in China – expansion of exports under review
A particular focus of the portfolio streamlining is on China, where local production in the high-volume segments will be expanded with the launch of the Neue Klasse, while imports will be limited to the models with the highest margins.

Local development activities will also be expanded and technological features designed to meet Chinese customers’ needs more closely. The aim is to increase the share of locally manufactured vehicles developed specifically to suit Chinese customer preferences to at least 95 percent by 2030.

As part of the further development of its production network, the company is also considering expanding exports of vehicles manufactured in China to Southeast Asian markets.

Top-end addition for the US – more regionalised SAV production
Specifically for the highly successful Sports Activity Vehicle (SAV) segment in the US, the BMW Group is considering introducing an additional offering above the current top-end model, the BMW X7, that would be closely tailored to the needs of the US market.

Demand for BMW’s globally highly successful premium SAV models is already so high that Plant Spartanburg, the “home of X”, is currently operating at full capacity. In this situation, the BMW Group is also striving for greater regionalisation so it can expand global production of these models. This would enable the company to meet growing customer demand in all sales regions more comprehensively and more directly.

Compact BEV with Neue Klasse technology for Europe
In 2028, with a focus on Europe, the BMW Group will strengthen its presence in the high-volume entry segment with another fully-electric model from the Neue Klasse. Having initially rolled out the technologies of the Neue Klasse at the core of the BMW brand and with the BMW X5 and BMW 7 Series now also available in the upper segments, the next step will be for compact models to also benefit from these innovations.

In this way, the company – in combination with its fully-electric MINI model range – is further strengthening its successful line-up of emotionally appealing compact models with innovative Neue Klasse technologies, which continues to drive the reduction of its fleet-wide CO₂ emissions in the EU.

Artificial intelligence as key lever for agility and efficiency
The wide-scale rollout and systematic use of artificial intelligence across the company is a key driver of increased speed and agility, faster decision-making and greater efficiency – from development and purchasing through to sales and marketing and aftersales.

“Consistent use of agentic AI applications across all areas of the company will be a game-changer for more agile and efficient development, leaner structures and faster decision-making,” says CFO Mertl.

AI-based innovations for significantly faster development
A particular focus is on optimisation and further development of the entire value chain. The BMW Group will continue to set new technology benchmarks with brand-defining innovations such as the sixth-generation e-drive, the “Heart of Joy” – the dynamic heart of the Neue Klasse, and the BMW Panoramic iDrive. More than 100,000 new orders for the BMW iX3* in Europe and the strong customer interest in the new BMW i3 and the new BMW X5 confirm the BMW Group's consistently high innovative potential.

On the manufacturing side, artificial intelligence is already an integral part of the BMW Group’s production system and a core element of the BMW iFACTORY. Relying on a standardised IT and data model, intelligent systems are being used at nearly every stage of production – from virtual factories with digital twins and AI-supported quality inspections to intralogistics with autonomous transport solutions. Going forward, digital AI agents will increasingly perform challenging tasks autonomously in a continuous learning process. In combination with self-learning robots, this gives rise to Physical AI – as the basis for flexible, efficient and competitive production.

To further accelerate development of these kinds of brand-defining innovations, the role of artificial intelligence will also be significantly expanded throughout the entire value chain.

The BMW Group will transfer AI from individual applications to core vehicle development processes. In the future, agentic AI is expected to provide end-to-end support, from the initial technical requirements to testing and release. To achieve this, the company is connecting specialised digital agents with a foundation of development data and existing IT systems built up over decades. This allows complex information to be analysed more quickly, routine tasks to be automated and processes to be designed more efficiently. The results are consistently monitored, reviewed and finally approved by the developers.

One example of this is the collaboration between the BMW Group and AI company Mistral on crash simulations. By combining the BMW Group's engineering datasets with Mistral AI’s training capabilities, this combination enables the creation of specialised AI model, that enhance the quality, speed and efficiency of vehicle development. To scale this approach, the BMW Group is relying on Large Industry Models (LIMs) – a new generation of AI systems trained on industry-specific engineering and simulation data, which make industry expertise directly usable.

At the same time, to substantially reduce the effort involved across development, purchasing and production, high-quality "Industry Best Offer" solutions – representing an optimal combination of innovation and scalability – will also be more widely used in the future. This will allow the BMW Group to focus its expertise and capacity more on the areas that most strongly differentiate its own brands from the competition.

From software-defined vehicle to AI-defined vehicle
With the first models of the Neue Klasse, BMW has laid the foundation for the next generation of digital vehicles. The new zonal electrical and electronics infrastructure will be used across all vehicle segments. This will reduce complexity, leverage economies of scale and make new functions available to customers faster. The Neue Klasse already demonstrates how intelligent software and artificial intelligence optimise the customer experience. They create the ideal basis for the next phase of development: the AI -defined vehicle. Here, the focus is no longer on individual functions, but on the intuitive interaction of the whole vehicle across all vehicle domains. From driver assistance to infotainment to basic and comfort functions, all systems work together seamlessly and intelligently, according to the situation.

Level2++ driver assistance solutions for China, the EU and the US to launch in 2027
The AI transformation is also speeding up development of driver assistance systems at the BMW Group. The new L2++ system developed in partnership with Momenta will be rolled out in China with the launch of the Chinese variant of the BMW iX3. As the only system on the market, it offers the brand-specific BMW Symbiotic Drive, which ensures intuitive interaction between the driver and assistance functions.

Next year, as a result of the development cooperation with Qualcomm, the BMW Group will be among the first manufacturers to offer navigation-guided driver assistance in Germany – on motorways, secondary roads and city streets – based on the new DCAS regulation (a Europe-wide legal framework for “Driver Control Assistance Systems”). Other countries, including the US, will follow in stages. All customers driving the new vehicle generation will be able to flexibly activate the additional features over the air.

By the end of the year, BMW will offer its proven Highway Assistant with hands-free assisted driving in 21 countries. BMW customers have already driven more than 250 million kilometres hands-free with the Highway Assistant. For the BMW iX3 and subsequent models, the Highway Assistant has been upgraded with BMW Symbiotic Drive. This functionality is specifically designed to ensure seamless interaction between assistance systems and human driving behaviour. With driver assistance active, the driver can accelerate, steer and brake as needed, without immediately triggering deactivation of longitudinal and lateral guidance. The operating logic and clear displays in the BMW Panoramic iDrive ensure that assisted driving is intuitive and controllable at all times – for safe use of the highest level of automation in SAE Level 2.

Critical raw materials: Greater resilience across global supply chains
To increase resilience in times of geopolitical volatility, the BMW Group is adopting new approaches to the procurement of critical raw materials and components. The company is focusing on new partnerships, alternative concepts and collaborations, as well as closer cooperation across competitors within the European Union to secure supplies of critical raw materials and components, including semiconductors. Alongside stakeholders in the automotive industry, policymakers are increasingly called upon to develop solutions and ensure greater resilience in the face of global competition.

BMW to introduce new sales model in Europe in 2027
Following the successful go-live of the genuine agency model for MINI sales in 24 European markets, the rollout for the core BMW brand is scheduled to get underway in mid-2027. This gives the company a consistent Europe-wide data basis spanning the complete customer journey, from test drive to aftersales. Here, artificial intelligence is not merely an additional tool, but the foundation of the entire sales system, enabling even more tailored solutions for every customer through both local retail partners and digital offerings.

Adjustments to personnel and management structures
Alongside adjustments to its model line-up and planned internal efficiency gains, the BMW Group is also increasingly examining its costs and operational processes.

“Our global business model remains the foundation of our success. At the same time, we are improving our structures and cost base so we can meet the increasingly fierce competition that will define this industry in the coming years. The workforce restructuring programme is an important lever for this,” said Nedeljković.

To continue aligning the company with lasting changes in the operating environment, the BMW Group already reached an agreement on a significant adjustment to personnel structures with the Works Council in July and is firmly committed to this course.

In addition to a voluntary severance programme, processes will be significantly streamlined and accelerated over the coming months. Through the efficient use of artificial intelligence, the company aims to align itself even more systematically for agility and effectiveness across all departments and corporate levels. This calls for significantly leaner management structures and a reorganisation of the divisions. By the middle of next year, the BMW Group will reduce the number of divisions and associated management roles by 20 percent, with a comparable reduction at the organisational levels below.

With a focused portfolio, regionalisation of the model line-up and AI-based innovations, the BMW Group is reinforcing its long-term strategic direction as a leading global premium manufacturer through the implemented measures. At the same time, technology openness and the Neue Klasse, with its exceptional product momentum, remain the firm cornerstones of the BMW Group and the foundation of its corporate strategy.

Overview of quotes:

Milan Nedeljković, Chairman of the Board of Management of BMW AG: “The BMW Group has always been at the forefront of the automotive industry – and that is where it belongs in the future as well. Under increasingly challenging conditions, we have defined measures to reposition ourselves and will implement them with strong momentum. The BMW Group has the critical expertise to successfully pursue this path. The strengths of our corporate culture are also crucial to this: Courage and pragmatism will be just as important as having an entrepreneurial mindset and the determination to succeed.”

“Our global business model remains the foundation of our success. At the same time, we are improving our structures and cost base so we can meet the increasingly fierce competition that will define this industry in the coming years. The workforce restructuring programme is an important lever for this.”

Walter Mertl, member of the Board of Management of BMW AG responsible for Finance: “The BMW Group remains committed to maintaining its consistent focus on value creation and sustainable profitability. At the same time, we will continue to ensure that our shareholders also share in the company’s long-term success.”

“Consistent use of agentic AI applications across all areas of the company will be a game-changer for more agile and efficient development, leaner structures and faster decision-making.”

Questions and answers:

What are the BMW Group's financial goals for the measures presented at the Capital Market Day?
The BMW Group aims to be back within its long-term target range of eight to ten percent for EBIT margin in the Automotive Segment by the start of the next decade. An EBIT margin of three to five percent is the interim target for 2028. This is based, for example, on a more focused and strongly regionalised product portfolio, efficiency gains throughout the value chain and leaner organisational structures.

Which concrete measures did the BMW Group present?

• Two new models: an SAV above the current BMW X7 top-end model and a fully-electric model in the entry segment, with a focus on Europe.
• There will be no successor to several models, such as the BMW 2 Series Active Tourer.
• In China: more localized models, with the export of vehicles manufactured in China to Southeast Asian markets under review.
• Systematic use of artificial intelligence across the company, from development and purchasing through to production and aftersales.
• Implementation of the personnel restructuring programme, with a 20-percent reduction in the total number of divisions and associated management roles.

What role does artificial intelligence play in the BMW Group's strategy?
Going forward, the goal is for artificial intelligence to be used consistently across all core business processes: from development and purchasing, through production, sales and marketing, to aftersales. For example, in vehicle development, AI agents will support technical requirements, testing and release, analyse complex information faster and automate routine tasks. In production, AI-based systems are already used throughout many process steps.

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 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 worldwide.

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 Group headquarters in Germany. No adaptions have been made to cater to the UK market. 

Munich. The Neue Klasse is providing strong momentum for fully-electric vehicle sales: Two million BEVs have been handed over to customers since sales of the very first BMW i3 launched in late 2013. Including plug-in hybrids, a total of around 3.5 million electrified vehicles have been delivered to customers worldwide since 2013. In the first half of 2026, more than one in every four vehicles sold was electrified.

“Selling two million BEVs underlines how BMW and MINI models are winning over customers worldwide. In Europe, the positive development has continued since the market launch of the BMW iX3*, and we will soon be reaching the milestone of 100,000 new orders. This shows the tremendous importance of the Neue Klasse for the ongoing ramp-up of electromobility at the BMW Group,” says Jochen Goller, member of the Board of Management of BMW AG responsible for Customer, Brands, Sales.

In the second quarter of 2026, European sales of BEV vehicles climbed steeply as availability of the BMW iX3 increased, with the company recording 38% growth to 81,445 units. In the first half of 2026, fully-electric vehicles accounted for around 28% of total sales on the company's home continent. Since the world premiere of the BMW iX3, one in three fully-electric BMW vehicles ordered in Europe has been a BMW iX3. Within the X3 family, one out of every two vehicles ordered is already a fully-electric iX3.

The two-millionth fully-electric vehicle, a BMW i5 M60 xDrive*, was produced at Plant Dingolfing and delivered to a customer in Spain. BMW Group Plant Munich began series production of the new BMW i3 in August. High demand is leading to a steep ramp-up curve at the plant. “The second Neue Klasse model, the BMW i3, is already seeing strong demand since orders opened ahead of its market launch,“ Goller continued.

With its wide range of BEVs and plug-in hybrids, the BMW Group is ideally equipped to meet customers’ growing needs and continue to offer innovative, high-quality electric vehicles. The BMW Group laid the foundation for this more than 50 years ago as an e-mobility pioneer.

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

Attached please find the Half-Year Report to 30 June 2026 for download.

The speeches and telephone conferences for journalists and analysts & investors will be broadcast live on our website https://www.bmwgroup.com/en/investor-relations/company-reports.html:

08.30 am (CEST): Speeches Milan Nedeljković and Walter Mertl
09.05 am (CEST): Journalists Q&A
10.15 am (CEST): Analysts & Investors Q&A


The online version of the BMW Group Report 2025 can be explored here: https://www.bmwgroup.com/en/report/2025/index.html

Munich. The BMW Group is maintaining a clear course in an increasingly competitive environment: Faced with a significant downturn in the Chinese market and an increasingly challenging operating environment worldwide, the company is accelerating and intensifying consequently measures to tackle enduring changes in the operating environment. As an initial and decisive step, the BMW Group has reached an agreement with the Works Council on an extensive workforce restructuring program including voluntary severance packages.

“The automotive industry is faced with rapidly escalating challenges – intense global competition, increasing regional regulatory requirements and the implications of geopolitical conflicts will shape our business model in the years ahead. That’s why it’s important to be lean and agile,” said Milan Nedeljković, Chairman of the Board of Management of BMW AG. “We are working to reshape our organisation and processes, thereby positioning the company to stay competitive going forward.”

In the second quarter, the sharply negative market development in China, intensified competition, particularly in the Asia-Pacific region, and the consequences of the continuing conflict in the Middle East clearly impacted the BMW Group’s business performance. Group pre-tax earnings (EBT) came in at €1,697 million (-35.1%) with an EBT margin of 5.4%; in H1, it was 6.5% (H1: €4,045 million; -29.4%). The EBIT margin in the Automotive Segment was 2.3%. Free cash flow in the segment totalled €513 million (-73.4%).


Global deliveries down slightly year-on-year; growth in Europe and the US
The BMW Group delivered a total of 1,156,727 BMW, MINI and Rolls-Royce vehicles to customers worldwide in the first six months of the year (2025: 1,207,594 vehicles/-4.2%; in Q2: 590,947 vehicles/-4.9%).

The company reported growth in the first half of the year in the Sales Region Europe and in the USA (Europe: +5.4%; USA: +3.9%). Growth in both regions increased further in the second quarter (Europe: +7.6%; USA: +11.9%).

In the Sales Region China, the negative trend accelerated during the reporting period. The BMW Group also recorded a significant decrease in deliveries (H1: 261,773 units/-20.4%; Q2: 117,815 units/-30.2%).

MINI brand deliveries increased significantly during the reporting period, with growth of +17.1% and 81,032 vehicles delivered in the second quarter (2025: 69,223 vehicles/+17.1%; H1: 149,535 units; 2025: 133,838 units/+11.7%). Its fully-electric models contributed to this sales growth: Accounting for 36.9% of the brand’s total deliveries, more than one in every three MINIs sold in the first six months was fully electric (2025: 34.3%).

The BMW Group delivered a total of 116,807 fully-electric vehicles between April and June (2025: 111,070 vehicles/+5.2%, H1: 204,295 vehicles/-7.4%). As a result, nearly one in five vehicles delivered was fully electric (19.8%). In the Sales Region Europe, the positive sales performance continued following the launch of the BMW iX3* in early March: In the second quarter of 2026, total BEV sales in this region reached 81,500 vehicles, an increase of 37.9% compared to the previous year. Nearly one in three new vehicles delivered was fully electric (31.3%/2025: 24.4%).

Demand for the Neue Klasse continues to grow with every new model introduced: The BMW iX3, the first model of the Neue Klasse, is fully on track to reach the milestone of 100,000 orders since its sales launch.

The second Neue Klasse model, the BMW i3, has equally recorded strong demand immediately following the start of the early ordering phase for the Launch Edition in June. Since their world premieres, the BMW 7 Series and the all-new BMW X5 have received extremely positive feedback. The new X5 will make the technologies of the Neue Klasse available in five drive train variants to deliver on different customer requirements worldwide.

“With the Neue Klasse and its technologies, we are bringing a strong product portfolio to market – innovative and at the forefront of technology. Customer feedback has been excellent, and demand remains consistently strong,” said CEO Nedeljković.


Lower Group revenues year-on-year – cost reduction achieved
For the first six months of 2026, the BMW Group reported revenues of €62,266 million (2025: €67,685 million/-8.0%,adjusted for currency translation effects -6.1%; Q2: €31,259 million (2025: €33,927 million/-7.9%, adjusted for currency translation effects -7.8%). Increased competitive pressure and lower sales volumes impacted the year-on-year comparison.

Research and development expenditure was further reduced, as planned, declining moderately year-on-year to €3,714 million in the first six months (H1 2025: €4,020 million/-7.6%; Q2: €1,959 million; 2025: €2,036 million/-3.8%).

As planned, capital expenditure was also significantly lower, amounting to €1,900 million for the first half of the year and €1,277 million in the second quarter (H1 2025: €2,736 million/-30.5%; Q2 2025: €1,534 million/-16.7%). The capex ratio for the first half-year came in at 3.1% (2025: 4.0%; Q2: 4.1%; Q2 2025: 4.5%).

As planned, the BMW Group also achieved a further moderate reduction in sales and administrative expenses, with costs declining to €4,777 million for the year to the end of June (2025: €5,089 million/-6.1%; Q2: €2,509 million; 2025: €2,700 million/-7.1%).

“Competition in the global automotive market has sharpened noticeably. Following cost savings of €2.5 billion last year, we are intensifying and accelerating our efficiency measures while implementing targeted structural measures. Our goal is to reduce complexity and establish a sustainably lower cost base,” said Walter Mertl, Member of the Board of Management responsible for Finance. “The targeted use of digitalisation and artificial intelligence is already generating positive momentum across all areas of the company. For example, within our Development division, we use industrial data combined with artificial intelligence to achieve shorter cycles in virtual vehicle validation, therefore unlocking greater data-driven value creation.”


Group half-year EBT margin at 6.5%
Group earnings before tax for the reporting period were significantly lower than the previous year, totalling €4,045 million (2025: €5,727 million/-29.4%; Q2: €1,697 million; 2025: € 2,614 million/-35.1%). The EBT margin for the first half of 2026 stood at 6.5% (2025: 8.5%/-2.0 percentage points/Q2: 5.4%; 2025: 7.7%/-2.3 percentage points).

In the Automotive Segment, lower sales volumes and intense competition weighed on revenue performance. During the first six months, Automotive Segment revenues declined moderately year-on-year to €54,321 million (2025: €58,654 million/-7.4%, adjusted for currency translation effects -5.4%; Q2: €27,162 million/2025: €29,443 million/-7.7%, adjusted for currency translation effects -7.8%).

Earnings before financial result (EBIT) for the first half of the year amounted to € 1,974 million (2025: €3,626 million/-45.6%; Q2: € 629 million; 2025: €1,602 million/-60.7%). Compared with the same period of the previous year, earnings were impacted by the negative market development in China, increased depreciation and amortisation, as well as currency and commodity headwinds, which could only be partially offset by cost reductions.

The EBIT margin for the second quarter came in at 2.3% (Q2 2025: 5.4%; H1: 3.6%; 2025: 6.2%). This includes headwinds of around 1.25 percentage points from expenses related to import duties (USA, EU), as well as around 1.2 percentage points from depreciation and amortisation of BBA assets resulting from the purchase price allocation.

Free cash flow of €1,290 million in first half-year
The Automotive Segment’s free cash flow for the first six months totalled €1,290 million (2025: €2,345 million/-45.0%; Q2: €513 million; 2025: €1,932 million/-73.4%). A free cash flow of >€2.5 billion is projected for the full year.

Financial Services Segment sees growth in new contracts
In the Financial Services Segment, the number of new financing and leasing contracts increased by 5.0% to 866,088 contracts (2025: 824,672 contracts; Q2: 445,876 contracts; 2025: 421,861 contracts/+5.7%).
The penetration rate rose to 52.9% (2025: 43.7%; Q2: 54.2% (2025: 44.4%).

For the year to the end of June, the segment reported profit before tax (PBT) of € 1,008 million (2025: €1,192 million/-15.4%). The year-on-year decline was attributable to an increase in the provision for a UK customer compensation programme in the first quarter. In the second quarter, substantially due to the higher portfolio volume and the resulting increase in interest income, Financial Services reported a significantly higher profit before tax of €627 million (2025: €542 million/+15.7%).


Guidance for 2026 confirmed
Against the backdrop of the challenges outlined above, the BMW Group confirms its guidance for the financial year 2026:

• Slight decline in Automotive Segment deliveries compared to the previous year
• Automotive Segment EBIT margin: within the range of 1–3%
• Group earnings before tax: significant decrease
• Automotive Segment RoCE: within the range of 1–5%
• Return on equity (RoE) in the Financial Services segment: 13-16%
• Motorcycles segment: deliveries expected in line with previous year; EBIT margin expected within a corridor of 4.0–6.0% and RoCE within a corridor of 10–14%

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

** As of 1 January 2025, the forecast range for Group EBT has been adjusted. For details, please refer to the glossary in the BMW Group Report 2024.


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 resultS

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


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

Farnborough. BMW Group UK has announced that James Morrison will become Managing Director of Park Lane, its flagship retail business for BMW and MINI in central London.

James will succeed Michelle Roberts, who has been appointed Vice President Customer, Brand & Sales at BMW M GmbH from 1 August 2026. Michelle will move to Munich, succeeding Sylvia Neubauer, who has been appointed President and CEO of BMW Switzerland.

Michelle has successfully led Park Lane through a period of transformation and has made a significant contribution to BMW Group UK over many years, including in her previous role as Marketing Director, BMW UK. In her new position at BMW M, she will take on global responsibility for brand, customer and sales.

James has been part of the Corporate Communications team since September 2025, leading Product Communications across BMW and MINI in the UK, including the highly successful media launch of the new BMW iX3. He brings a deep understanding of BMW Group and its customers, built through a 25-year career with the company spanning a range of sales and marketing roles across the business, including Product and Event Management, MINI, Corporate Sales and overseeing BMW Luxury Class.

James’s successor in the BMW Group UK Corporate Communications team will be announced in due course.

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 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

For further information please contact:

Chris Overall
Head of Corporate, Brand and Internal Communications
Tel: 07815 370 990
Email: Chris.Overall@bmw.co.uk

Christina Burnham-Hepe
Corporate Communications Director
Tel: 07815 371 206
Email: Christina.Burnham-Hepe@bmw.co.uk

Munich. The fine-dining restaurant THE CLOUD by Käfer at BMW Welt has been awarded with two Michelin stars by the “Michelin Guide”. Just one year after opening, this prestigious accolade celebrates the culinary signature of chef de cuisine Jens Madsen, restaurant manager Mona Röthig, sommelier Luigi Pecchia and the entire team. With its concept of “CULINARY NOMADISM”, THE CLOUD by Käfer brings together international influences, meticulous craftsmanship and an exclusive dining experience under the roof of BMW Welt.

“The Michelin Guide” defines a two-star restaurant as “Table excellente, mérite un détour”; in English: “excellent cooking, worth a detour”. This definition now also officially applies to THE CLOUD by Käfer at BMW Welt. Also winning the “Opening Of The Year” award, the fine-dining restaurant demonstrates that its concept has struck exactly the right note: “CULINARY NOMADISM” – a culinary journey.

“The two Michelin stars are a great honour for our entire team. We are delighted by this recognition, yet we remain focused on what matters most to us every day: working creatively and with concentration, treating high-quality products with respect, and creating a special experience for our guests,” commented Jens Madsen, chef de cuisine of THE CLOUD by Käfer, following the announcement.

“We warmly congratulate Jens Madsen, Luigi Pecchia, Mona Röthig and the entire team at THE CLOUD by Käfer on this very special honour. The two Michelin stars recognise the team's outstanding culinary achievement and confirms the high standards that have shaped an exceptional fine-dining experience at BMW Welt in collaboration with Käfer and Designworks. We are really looking forward to Season II, as THE CLOUD by Käfer continues its culinary journey,” added Sandra Wittemer, head of BMW Welt.

From 8 July 2026, THE CLOUD by Käfer at BMW Welt will embark on its second culinary journey, entitled “SEASON II – WHISPERS OF THE RAINFOREST”. The new menu draws inspiration from a journey supported by the BMW Group, during which chef de cuisine Jens Madsen travelled deep into the Amazon region. There, he immersed himself in ancestral techniques, indigenous produce and a deeply respectful approach to resources. At THE CLOUD by Käfer, he translates these impressions into a distinctive culinary signature – characterised by local ingredients, masterful execution and a profound respect for origins and context.

The fine-dining experience at THE CLOUD by Käfer is complemented by exclusive services offered by BMW Welt – the so-called “BMW Welt Signatures”. These include a private shuttle service in a BMW 7 Series across the Munich area, valet parking and the opportunity to book an exclusive guided tour of BMW Welt.

The team at THE CLOUD by Käfer has already received several distinctions this year. Jens Madsen was recognised for his vision by German-language restaurant guide “Der Große Guide” as Best Newcomer. Culinary magazine “DER FEINSCHMECKER” also named sommelier Luigi Pecchia among Germany’s most promising young talents in its "Top 30 Under 30” special. THE CLOUD by Käfer at BMW Welt also featured in the “Condé Nast Traveller Hot List 2026” as part of a highly international and creative selection of restaurants.

About Käfer

In October 2012, the world of Käfer arrived at BMW Welt, where it operates the CooperS bistro, the Biker’s Lodge café, the Bavarie restaurant, and the fine-dining restaurant THE CLOUD by Käfer. Käfer developed a bespoke culinary concept for this new partnership, designed to cater to the diverse visitor groups frequenting Bavaria’s most popular attraction. From BMW Welt staff and customers collecting their new cars to Munich families, international tourists, and discerning gourmets, the various dining venues offer a wide range of options to suit every taste. Particular emphasis was placed on ensuring that regional and international elements—befitting the Munich-based brands BMW and Käfer—go hand in hand to create a unified concept rooted in sustainability.

About BMW Welt

With its iconic, award-winning architecture, BMW Welt is one of Bavaria’s most visited attractions and symbolizes the BMW Group’s innovative strength. Since its opening in 2007, it has welcomed over 2 million visitors annually. Together with the BMW Museum and BMW Group Classic, it forms an important part of the brand experience in Munich.

BMW Welt unites all BMW Group brands – BMW, BMW M, MINI, Rolls-Royce Motor Cars, and BMW Motorrad – under one roof. Visitors will find exhibitions and brand presentations and can pick up new vehicles in a unique setting. Since its opening, more than 280,000 vehicles have been delivered.

The event program includes a year-round program of cultural, artistic, sporting, and entertainment events. BMW Welt’s spaces are also available for external events. The offerings are complemented by guided tours, product consultations, and the educational program at THE CAMPUS for children and families. Several restaurants, including the fine-dining restaurant THE CLOUD by Käfer, provide culinary options.

Facebook: facebook.com/bmw.welt 
Instagram: instagram.com/bmwwelt/ 
Newsletter: www.bmw-welt.com/de/footer/metanavigation/newsletter.html 
Website: www.bmw-welt.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

Munich. Continuity and experience at the helm of the Group: At the end of today, Oliver Zipse will hand over the position of Chairman of the Board of Management of BMW AG to Dr.-Ing. Milan Nedeljković. Zipse is concluding his tenure on the Board of Management as planned after a total of 35 years with the company.

The entire Supervisory Board of the company expresses its sincere gratitude to Oliver Zipse for his outstanding contributions to the BMW Group. During his tenure, he strategically realigned the company and successfully guided the BMW Group through global crises such as the COVID-19 pandemic.

“Through his strategic leadership and long-standing commitment, Oliver Zipse has shaped the development of the BMW Group. His name will be closely associated with the NEUE KLASSE, as BMW’s central future-oriented project,” says Supervisory Board Chairman Dr. Nicolas Peter. “Oliver Zipse has always taken a clear stance, even in the face of external resistance, thereby keeping the company strategically on course during volatile times.”

“For more than 35 years, the BMW Group has been my professional home. I am leaving with a deep sense of gratitude: for the trust that was placed in me, for the professional challenges that have taken me to various areas in the company; and above all, for an exceptional team that is shaping the mobility of the future with passion and a pioneering spirit. It has been a great honour for me to lead the BMW Group as Chairman of the Board of Management for seven years”, says Oliver Zipse, Chairman of the Board of Management of BMW AG.

His successor, Milan Nedeljković, has been a member of the Board of Management of BMW AG since 2019 and has been responsible for Production. The 57-year-old began his professional career with the company in 1993 as a trainee and has extensive international experience. Nedeljković held various management positions, including at the Oxford, Leipzig and Munich plants, as well as Head of Corporate Quality. His contract as Chairman of the Board of Management runs through 2031.

Dr. Nicolas Peter: “Milan Nedeljković impresses with entrepreneurial thinking and a consistent goal-oriented approach, as well as a clear focus and stringent execution of complex issues. He places great importance on the responsible use of resources, whether economic or ecological.”

Milan Nedeljković says: “With the NEUE KLASSE, we are bringing a generation of vehicles to the road that sets technological and emotional benchmarks. Our product momentum is outstanding. Together with our global footprint, this gives us a tailwind. In a dynamic environment, consistent and entrepreneurial action is required. Profitability and speed are crucial. I look forward to leading this extraordinary company into the future.”

Dr. Raymond Wittmann (47) will succeed him as Board Member for Production effective 14 May. He has been with the BMW Group since 2015 and has been responsible for Corporate Strategy and Development since 2024. Prior to this, he held several management positions in various corporate divisions.

“Raymond Wittmann combines strategic thinking with operational excellence and sound business management,” says Dr. Nicolas Peter. “With his broad, cross-divisional experience and international perspective, he possesses the key qualities required to lead the Production division.”

As part of today’s Annual General Meeting, the Supervisory Board will propose that Dr. Christian Bruch, Chairman of the Executive Board of Siemens Energy AG, be re-elected to the Supervisory Board for a term of four years. The term of office of Mr Heinrich Hiesinger, former Chairman of the Executive Board of ThyssenKrupp AG, will end with the close of today’s Annual General Meeting.

Following the 106th Annual General Meeting of BMW AG, a separate meeting of the preferred shareholders will be held today. It is to decide on the approval of converting all preferred shares into ordinary shares.

If you have any questions, please contact:

BMW Group Corporate Communications

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

Telephone: +49 89 382-24118

Email: Max-Morten.Borgmann@bmwgroup.com

Dr. Dominic Stoiber, Communications BMW Group, Finance, Sales

Telephone: +49 151 601-51137

Email: Dominic.Stoiber@bmw.de

Lennart Wermke, Communications BMW Group Financial Services

Telephone: +49 151 601-98096

Email: Lennart.Wermke@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

Munich. Parallel to the ramp-up of the Neue Klasse, the BMW Group has released solid financial figures in the first quarter: The Munich-based premium automaker reported an EBT of € 2,348 million – surpassing the two previous quarters (Q3/Q4 2025). Group EBT margin of 7.6 % was on par with the figure for the full year 2025 (7.7 %). Free cash flow in the Automotive segment totalled € 777 million, significantly above the same quarter of the previous year (+88.1 %).

As such, the BMW Group has maintained its positive momentum from the previous year in the first quarter of 2026. The company’s attractive product portfolio, technology‑open approach and resilience in key global regions ensure it maintains its successful course.

“Once again, our earnings for the first quarter demonstrate the value of strategic consistency, operational strength and a high degree of flexibility. We are well positioned to deliver continued success, despite challenging conditions,” said Oliver Zipse, Chairman of the Board of Management of BMW AG.

Order intake in Europe reaches record levels

The BMW brand achieved its highest ever order intake figure for a single quarter in Sales Region Europe. From January to March, orders for all-electric vehicles increased by more than 60% in Europe compared to the previous year. The BMW iX3* alone secured more than 50,000 orders since its design premiere in September by the end of March.

“During the first three months on the year, we received more orders in Europe than in any other quarter in the Company’s history. The key to our success lies in our broad product range: with our strong brands, we serve key segments and allow customers to select from the full range of drivetrains,” said Zipse. “The successful launch of the BMW iX3 and the positive feedback on the BMW i3 confirm that we made the right decisions with the Neue Klasse. Every future BMW model will feature the new technology clusters and use the new design language – regardless of drivetrain. Thus, we are elevating our product portfolio to a whole new level.”

The BMW Group delivered a total of 565,780 vehicles to customers worldwide in the first quarter. This represents a slight decrease of -3.5% compared with the same period last year. The BMW brand delivered a total of 496,006 vehicles to customers across the world in the first quarter of 2026 (-4.6%). One in ten of all BMW units delivered was a BMW M model.

MINI maintains its growth trajectory

The MINI brand increased its global sales for the fifth consecutive quarter, delivering 68,503 vehicles – growth of +6.0%. BEVs accounted for 35.1% of all MINI deliveries.
The Rolls-Royce brand delivered a total of 1,271 vehicles to customers in the first quarter (-8.0%). BMW Motorrad delivered 42,735 motorcycles and scooters to customers over the same period (-4.2%).

BEV demand growing in Europe

The BMW Group’s vehicle deliveries increased by 3.1% across all drivetrains in Europe, its largest sales region. Battery‑electric vehicles accounted for 25.3% of all sales in Europe (global: 15.5%). The BMW Group remains confident that it will meet the EU (27 + 2) CO₂ targets for 2026.
In the Americas sales region, which slightly declined by -4.0%, the decline in deliveries of all-electric BMW automobiles was largely offset by increased deliveries of vehicles with combustion engines. In China, where the total market contracted sharply by -17.5%, BMW Group deliveries performed somewhat better, falling by -10.0% during the reporting period.

Currency effects weigh on revenues

Group revenues totalled € 31,007 million (2025: € 33,758 million; -8.1%; adjusted for currency translation effects: -4.3%) highlighting the persistently intense competition in the automotive sector – particularly in China – as well as the slight decline in sales. Furthermore, adverse currency effects had a negative impact, primarily the Chinese renminbi and the US dollar.

Disciplined cost management continues to deliver results

The BMW Group successfully delivered nominal costs reductions in the first quarter to tackle external challenges. The cost of sales went down by -6.4%, while administrative and sales expenses fell by -5.1% across the Group. As planned, the Company reduced its research & development expenditure from the 2024 peak to € 1,755 million (Q1/2025: € 1,984 million; -11.5%). The research & development expenditure ratio (German Commercial Code) fell to 5.7% (Q1/2025: 5.9%). Investments also decreased in the first quarter to € 1,723 million in line with planning (Q1/2025: € 2,819 million; -38.9%). The capital expenditure ratio came in at 2.0% (Q1/2025: 3.6%).

“Flexibility and speed of execution are two of the BMW Group’s strengths. That’s abundantly clear with the Neue Klasse – a stringent and comprehensive renewal of our entire vehicle portfolio in record time. The automotive innovations coming to market will strengthen our competitive position and improve our profitability,” said Chief Financial Officer Walter Mertl. “In a demanding economic environment, we remain highly focused on costs, leveraging multiple opportunities across the company with an approach designed to deliver sustained results.”

Share buyback on track

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 buyback programme with a volume of up to € 2 billion, to be completed no later than 30 April 2027. The first tranche of shares worth € 750 million were repurchased by December 2025. The second tranche of shares, amounting to € 625 million, is on track to be purchased by 31 August 2026. On 31 March 2026, BMW AG held shares with a nominal value of € 12,225,269 million. This corresponds to 1.99% of the share capital on the same date.

Group EBT well over € 2 billion again despite the tariffs burden

The Group achieved earnings before tax (EBT) of € 2,348 million in the first three months of the year (Q1/2025: € 3,113 million; -24.6%). In doing so, the company delivered earnings of more than € 2 billion in a demanding economic environment once again. The EBT margin for the period was 7.6% (Q1/2025: 9.2%). Group net profit amounted to € 1,672 million (Q1/2025: € 2,173 million; -23.1%).

EBIT margin in the annual guidance corridor of 4–6%
The Automotive segment achieved an EBIT of € 1,345 million (Q1/2025: € 2,024 million; -33.5 %) and an EBIT margin of 5.0 % (Q1/2025: 6.9 %; -1.9 percentage points) – in the middle of the forecast annual range of 4–6% – and extra tariffs accounted for a 1.25 percentage point reduction in the EBIT margin in the quarter. This was a significantly larger hit than the same quarter in the previous year, in which only EU import tariffs were due on battery‑electric vehicles from China. The EBIT margin was also affected by depreciation and amortisation from the BBA purchase price allocation amounting to 1.2 percentage points.

Fierce competition across major automotive markets, especially in China, impacted pricing and sales volumes, weighing on EBIT. As anticipated, currency and raw material price effects dampened the company’s first‑quarter earnings performance.

Free cash flow in the Automotive segment increased significantly to € 777 million in the first three months of the year (Q1/2025: € 413 million). The marked reduction of capital expenditure compared with prior‑year figures had a positive impact on free cash flow. Conversely, the typical seasonal increase in inventories weighed on working capital. The segment’s free cash flow is expected to exceed
€ 4.5 billion for the full year.

Financial Services: slight growth in new contracts with end customers

The Financial Services segment secured 420,212 new credit financing and leasing contracts with end customersin the first quarter. The growth of 4.3 % compared to the same quarter last year is largely attributable to the changes in the competitive landscape in the Chinese market since mid‑2025. The penetration rate** – the share of BMW Group vehicles either leased or financed through the Financial Services segment – increased to 51.6% in the reporting period(Q1/2025: 43.0%; +8.6%).

The segment generated a profit before tax (PBT) of € 381 million in the first three months of the year (Q1/2025: € 650 million; –41.4%). The decline was primarily driven by an increase of the existing risk provision for cross-sector compensation schemes for motor finance customers in the United Kingdom.

Moreover, the income from the resale of end-of-lease vehicles was lower.

Outlook for the 2026 financial year confirmed

The BMW Group confirms its full‑year forecast after the first quarter, in a deteriorating economic environment. Forecasts for the global economy and automotive markets have been revised downwards in recent weeks. The global automotive market is now expected to see a slight decrease.

For the 2026 financial year, the BMW Group continues to expect a higher level of volatility related to tariffs. The company anticipates a negative impact from higher tariffs of around 1.25 percentage points on the EBIT margin in the Automotive segment.

The geopolitical situation in the Middle East is currently characterised by a high degree of uncertainty due to the ongoing conflict in the region. The outlook assumes that the conflict will not be enduring.

The BMW Group continues to see overall growth potential in Europe and the United States. In China, the company looks to balance sales volume, transaction prices and dealer profitability.

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 2025.

The BMW Group remains disciplined in cost management. In the 2026 financial year, the company will further reduce capital expenditure, manufacturing costs, research & development spending, as well as sales & administrative expenses. Compared to the prior year, the BMW Group expects a lower additional burden from tariffs as previously outlined. This will be offset by increasing depreciation resulting from investments and the capitalization of development costs in previous years. Additionally, earnings will be negatively impacted by adverse currency and raw material effects, by pricing and product measures to stabilize transaction prices in China, by a significantly lower capitalization rate resulting from the development portfolio structure, and by overall lower revenues related to the used-car market. The BMW Group will partially offset these higher burdens through the afore-mentioned cost reductions.

Regarding forecast KPIs: The EBIT margin for the Automotive Segment is forecast to be within the range of 4–6%. Return on Capital Employed (RoCE) will be between 6–10%.

In the Financial Services Segment, Return on Equity (RoE) is projected to be between 13–16%.

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

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.

** Starting in the 2026 financial year, the penetration rate will also include financing and leasing contracts for young used vehicles that are sold to end customers for the first time in the reporting 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

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 UK 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 UK market.

Munich. The MINI brand looks back on an extremely successful 2025. With a total volume of 288,290 vehicles, MINI achieved a significant sales increase of 17,7% compared to 2024 figures. Particularly impressive is the high demand for battery electric vehicles (BEVs): with 105,535 fully electric MINIs delivered in 2025 (+87,9%), the brand achieved a new record in electromobility, resulting in more than every third MINI sold worldwide being electric. In many markets, the share is significantly above 50%, such as Netherlands, Turkey, Sweden and China.

Jean-Philippe Parain, Head of the MINI brand, emphasizes: “MINI continuously increases the share of fully electric vehicles, thereby demonstrating its innovative strength and future orientation. Our strong volume growth across all regions in 2025 clearly reflects the exceptional appeal of the MINI model family. The updated iconic design, the sportiness, individuality and expanded electric offerings of the MINI brand have met customer expectations all around the globe.

A growth driver was the largest MINI model in the product portfolio, the MINI Countryman: with a 32,4 % share of the total MINI volume, it underlines the brand’s SUV expertise. The Countryman combines typical MINI driving pleasure with innovative design and high versatility – ideal for any outdoor challenge. In 2025, 93,305 units were sold worldwide (+15.2%); the fully electric Countryman achieved a sales growth of 81.8% compared to 2024.

Sub-brand John Cooper Works reaches record numbers
The sporty John Cooper Works (JCW) sub-brand also set new standards in 2025: with 25,630 units sold, MINI JCW increased the sales volume by 59.5% and achieved a new sales record. The share of JCW vehicles reached 8.9% of the total MINI volume. In some markets, such as UK, Italy, Japan and Australia, the performance-enhanced MINI models reached their highest sales figures to date.

The MINI Cooper family
The traditional MINI Cooper family, consisting of the MINI Cooper 3-Door, the MINI Cooper 5-Door and the MINI Convertible, recorded with 162,789 a sales increase of 10.3% compared to the previous year. The new generation of the MINI Cooper Convertible, only introduced in 2025, rounded off the model family with unique features. With 22,491 units sold, a sales growth of 18.4% was achieved. The MINI Cooper 5-Door impresses with typical brand-specific driving fun, increased space, and high functionality and recorded with 47,850 units a significant growth of 26.5% compared to 2024.

2026 starts with the new MINI Paul Smith Edition
Starting in 2026, the MINI Cooper 3-Door, MINI Cooper 5-Door, and MINI Cooper Convertible – both electric and combustion engine versions – will be available in the new MINI Paul Smith Edition. This edition combines the unmistakable style of the British designer Paul Smith with the playful, optimistic and independent spirit of the MINI brand. Following the successful collaborations “MINI STRIP” (2021) and “MINI Recharged by Paul Smith” (2022), Paul Smith now brings his world-famous design language “Classic with a twist” into the MINI family once again.

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 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 UK market. 

Munich. The BMW Group delivered a total of 2,463,715 vehicles to customers in 2025 – an increase of +0.5% year-on-year. This includes the delivery of 642,087 electrified vehicles, a growth of 8.3% over the previous year. The BMW Group also saw a slight increase in sales of fully-electric models, with 442,072 units delivered worldwide. In Europe, in particular, the BMW Group reported a significant growth of +28,2% in fully-electric vehicles. The company’s sales performance in 2025 demonstrates that the BMW Group’s technology-neutral approach and premium multi-brand strategy, with a broad product portfolio across all relevant segments, are receiving a positive response from customers. Subdued demand in China was offset by other sales regions.

“In 2025, in a challenging environment, the BMW Group sold more vehicles than in the previous year. Our electrified vehicles were in particularly high demand. Europe reported especially strong growth, with battery-electric vehicles accounting for about a quarter of total sales, and BEVs and PHEVs combined reaching a share of over 40% across the region. We remain fully on track to meet our EU CO₂ fleet target for 2025,” said Jochen Goller, member of the Board of Management of BMW AG responsible for Customer, Brands, Sales. “Especially in Europe, 2026 will be marked by the NEUE KLASSE. At the same time, we will be introducing several new models this year, such as the BMW X5, BMW 3 Series, and BMW 7 Series. In total, the BMW Group will launch more than 40 new and revised vehicles with various drive options by 2027, ” added Goller.

Electrified vehicles accounted for 26% of total BMW Group sales worldwide in 2025, with fully-electric vehicles representing around 18%.

The BMW brand delivered 2,169,761 vehicles to customers in the full year 2025
(-1.4%). Thanks to its attractive product portfolio across all technologies, the brand maintained its position as the global segment leader, with sales growth in Europe, the Americas and parts of Asia largely offsetting subdued demand in China. BMW M GmbH achieved a new all-time sales high, with a total of 213,457 vehicles delivered in the full year (+3.3%). The MINI brand enjoyed a strong 2025, delivering a total of 288,290 vehicles to customers – an increase of +17.7% over the previous year. Its fully-electric vehicles, in particular, are proving popular with customers worldwide. The British premium brand celebrated an important milestone, with the delivery of the 100,000th fully-electric MINI to its new owner. This means that more than one in three MINIs delivered in 2025 had a fully-electric drive train. The Rolls-Royce brand delivered 5,664 units to customers (-0.8%) in the full year. During the same period, BMW Motorrad sold 202.563 motorcycles and scooters (-3,7%).

BMW Group sales in Q4/YTD December 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.

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 UK market.   

Munich. The BMW Group maintained its growth trajectory in the third quarter, with customer deliveries rising by +8.8%. This also reflects the positive impact of the base effect from a weaker prior-year quarter. From January to September 2025, the BMW Group delivered a total of around 1.8 million BMW, MINI and Rolls-Royce vehicles to customers, achieving slight sales growth of +2.4%. During the same period, the company increased sales of fully-electric vehicles by +10.0% to 323,447 units. Between January and September, the BMW Group delivered a total of 470,313 electrified vehicles (BEV and PHEV) to customers (+15.0%). 

“The BMW Group reported a slight sales increase for the year to the end of September. The strong sales performance in Europe and the Americas, as well as for the MINI brand, is particularly encouraging. Demand for our wide range of electrified vehicles also remains strong,” said Jochen Goller, member of the Board of Management of BMW AG responsible for Customer, Brands, Sales.

The BMW brand sold 514,620 vehicles in the third quarter (+ 5.7%). In the year to the end of September, sales were in line with the previous year (+0.1%), with a total of 1,585,580 units delivered to customers, including 395,998 electrified vehicles (+4.5%). The brand continued to increase sales across all regions outside of China, achieving particularly strong growth in the Europe and Americas regions, while the targeted sales increase in the Chinese market did not materialize as expected. BMW plug-in hybrids are in high demand. As a result, the brand increased its global deliveries of vehicles with this drive technology by +30.2% compared to the previous year.

Between January and September, BMW M GmbH delivered 158.182 units to customers, up +7.9% year-on-year. Following its most successful half-year ever, BMW M GmbH reported another strong third quarter, with sales rising 11,0% to 52,220 units.

The MINI brand remained on track for growth with the New MINI Family: In the third quarter, the brand delivered 72,376 units – an increase of +37.5%. From January to September, 206,214 vehicles were sold worldwide (+23.7%). During this period, MINI reported growth across all sales regions.

In the YTD September, the Rolls-Royce brand delivered 4,100 motor cars to customers – +3.3% more than during the same period of last year. In the first nine months of the year, BMW Motorrad delivered a total of 159,156 motorcycles and scooters to customers (-2.6%). In the third quarter, BMW Motorrad increased its deliveries to 53,247 units, a rise of +5.7%.

BMW Group sales in Q3/YTD September 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.

The BMW Group

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

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

The success of the BMW Group has always been based on long-term thinking and responsible action. Sustainability is a key component of the BMW Group’s corporate strategy – 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 UK market. 

Munich. The BMW Group showed strong resilience in the first half of the year – building on a solid foundation of consistent strategy, robust customer demand, sustained cost discipline and high flexibility. With sales volumes stable at over 1.2 million premium vehicles, and with potential for further growth, the company reported Group earnings before tax of more than € 5.7 billion and an EBT margin of 8.5% in the first six months of 2025.

The Automotive Segment EBIT margin came in at 6.2%, placing it in the upper half of the 5.0-7.0% annual target range, published in March. The segment's free cash flow for the first half-year was € 2.345 billion. At the six-month mark, the BMW Group is therefore on track to meet its targets for the year.

"Our performance in the first half of 2025 once again underscores the robustness of our business model. Our success today, as well as in the future, is based on three strong pillars: our global footprint, our strength in innovation, and our technology-neutral approach with highly attractive products," said Oliver Zipse, Chairman of the Board of BMW AG. "In September, we will begin a new era for BMW when the first vehicle of the NEUE KLASSE makes its debut at the IAA Mobility. With the BMW iX3*, we are kicking off an unprecedented product ramp-up: by 2027, we will launch more than 40 new and revised models across all segments and drive types. Each vehicle will embody the innovative technology clusters and the new design language. This way, we connect technological advancement and exciting products with strategic foresight and economic efficiency."

By offering different drive technologies and a comprehensive range of models, the premium manufacturer from Munich is able to meet diverse customer preferences, reporting growth across numerous markets: Outside of China, BMW deliveries rose across all sales regions, with the brand recording slight growth of +4.7%.

Benefiting from full availability of the New MINI Family, the British cult brand reported significant growth of 17.4% in the first half of the year, with a total of 133,838 vehicles sold. MINI deliveries increased in all regions of the world.

In Europe, the BMW Group posted solid sales growth of +8.2%, with 498,670 units sold (Q2 deliveries: 256,487 units; +10.2%).
In the Americas region, deliveries increased by +3.4% to 237,972 vehicles (Q2: 123,254 units; +1.7%).

Deliveries in the US market rose by +2.7% year-on-year, with a total of 193,826 vehicles delivered to customers (Q2: 98,856 units; +1.4%).

Electrified models and BMW M vehicles with increased sales volumes
With a 26.4% share (Q2: 26.0%) of total sales in the first six months, more than one in four BMW Group vehicles delivered – precisely 319,031 units – was electrified. Europe recorded the highest growth rates for BEVs and PHEVs, at 34,8%.

Alongside electrified vehicles (+6.5%), the high-performance models of the BMW M brand were the main growth drivers for the BMW brand: With nearly 106,000 vehicles sold (+6.5% compared to HY1 2024), BMW M GmbH reported the highest first-half-year sales in its history. The BMW M3* and BMW M3 Touring*, together with the BMW M5* and BMW M5 Touring* introduced at the start of the year, made a significant contribution to this result.

MINI grows with BEV models
MINI’s sales growth also stemmed mainly from MINI BEVs: the MINI Cooper Electric*, the MINI Aceman Electric* and the MINI Countryman Electric*. With a 34.3% share in the first half-year, more than one in three MINIs delivered to customers worldwide was battery-electric.

In the first half of 2025, the Rolls-Royce brand built on the previous year’s strong sales performance, delivering 2,796 handcrafted luxury motor cars to customers (-0.8%). In the second quarter, it increased its sales by +9.4% year-on-year to 1,415 units.

The growing percentage of electrified vehicles confirms the BMW Group's successful approach of offering its customers a broad range of models, all available with different drive technologies. More than 15 fully-electric vehicles and 12 PHEVs are currently available. In the second quarter of 2025, the BMW Group reached a major milestone in its drive train strategy, with the delivery of its 1.5-millionth BEV since the launch of the first BMW i3 in 2013.

Group EBT margin of 8.5% in first half-year
Group revenues for the first half-year totalled € 67,685 million(2024: € 73,558 million/-8.0%; adjusted for currency translation effects: -7.1%; Q2: € 33,927 million; Q2 2024: € 36,944 million; -8.2%; adjusted for currency translation effects: -5.5%).

Compared with the previous year, revenues were pressured by currency translation headwinds and the expected subdued demand in China. The positive impact of strong growth in new leasing business at BMW Group Financial Services resulted in higher revenue eliminations between segments, which dampened Group revenues.

Following a peak in R&D spending and capital expenditure in 2024, this trend was reversed, as expected, in the first half of the year – without compromising the premium manufacturer's commitment to innovation leadership.

Driven by a strong operating performance, the BMW Group’s expenditure for research and development totalled € 4,020 million  in the first six months of the year (2024: € 4,169 million/-3.6%). This figure was down slightly on the previous year, despite intensive preparations for the upcoming models of the NEUE KLASSE, including the BMW iX3 and other successor models. R&D spending focused on digitalisation of the vehicle fleet and electrification across all model series. As planned, administrative and sales expenses were reduced, and capital expenditure for property, plant and equipment also declined.

Between January and June, the BMW Group reported pre-tax earnings (EBT) of € 5,727 million (2024: € 8,023 million/-28.6%; Q2: € 2,614 million; Q2 2024: € 3,861 million; -32.3%).

The EBT margin for the first half year was 8.5% (2024: 10.9%; in Q2: 7.7%; Q2 2024: 10.5%). Group net profit for the first half of the year totalled €  4,015 million (2024: € 5,656 million/-29.0%; Q2: € 1,842 million/-31.9%).

Automotive Segment EBIT margin within annual target range 
In the first half of the year, the Automotive Segment generated revenues of € 58,654 million (2024: € 63,009 million/-6.9%; adjusted for currency translation effects: -5.9%; Q2: € 29,443 million; -8.2%; adjusted for currency translation effects: -5.3%). This year-on-year decrease was mainly due to currency translation headwinds and due to the expected decline in sales revenues in China.

Segment earnings before financial result (EBIT) for the first half-year amounted to € 3,626 million (2024: € 5,394 million/-32.8%; Q2: € 1,602 million; -40.3%). The EBIT margin came in at 6.2% (2024: 8.6%; Q2: 5.4%). Excluding depreciation and amortisation from the BBA purchase price allocation, the EBIT margin for the first half-year was 7.3%. The impact of tariff increases – particularly the European Commission’s anti-subsidy measures on Chinese BEVs and the sharp rise in US tariff duties – created headwinds in the automotive segment corresponding to the amount of around 1.5%-points of its EBIT margin in the first half-year.

“Even despite higher tariffs, the BMW Group’s business model remains intact – our popular premium vehicles, global competitive strength and high level of resilience provide us with a strong and sustainable foundation. Our footprint in the US is helping us limit the impact of tariffs,” said Walter Mertl, member of the Board of Management responsible for Finance, during the quarterly conference call in Munich. “Thanks to precise financial control, based on calculated forecasts, we are firmly on track to achieve our targets for the year at the six-month mark. Higher efficiency and optimised cost structures also contribute to achieving our financial goals.

Free cash flow of € 2,345 million in Automotive Segment in YTD June
After six months, free cash flow in the Automotive Segment totalled € 2,345 million (2024: € 2,289 million) and was thus on track for the annual guidance.

The BMW Group is still targeting a free cash flow of > € 5 billion in the Automotive Segment for the full year.

From January to June, capital expenditure for property, plant and equipment and intangible assets amounted to € 2,736 million (2024: € 3,456 million/-20,8%). The capex ratio came in at 4.0% (Q2: 4.5%; HY1 2024: 4.7%; Q2 2024: 5.8%).

Dynamic performance continues in Financial Services Segment
In the Financial Services Segment, dynamic growth in new leasing business continued in the first six months of the year: The volume of new leasing business rose significantly (+9.5%), with the leasing share of total new business increasing to 40.0% (2024: 35.5%/+4.5% percentage points). The segment concluded a total of 824,672 new financing and leasing contracts worldwide in the first half of the year (2024: 849,908 contracts/-3.0%). This represents a slight year-on-year decrease, owing to the lower number of new contracts concluded in China.

The percentage of new BMW Group vehicles leased or financed by the Financial Services Segment reached 43.7% by the end of the reporting period (2024: 41.2%/+2.5 percentage points).
Thanks to a higher financed amount per vehicle, the volume of new business remained stable at € 31,893 million in the first half of 2025 (2024: € 31,677 million/+0.7%).

In the six-month period, the Financial Services Segment achieved earnings before tax of € 1,192 million (2024: € 1,481 million/-19.5%). In addition to allocations to provisions, the decline in earnings was primarily driven by lower income from the resale of end-of-lease vehicles in the year-on-year comparison, with the number of such vehicles remaining below the previous year's level.

During the reporting period, the credit loss ratio stood at 0.27% across the entire loan portfolio (2024: 0.25%).

BMW Motorrad half-year EBIT margin reported at 12.0%
In the year to the end of June, BMW Motorrad delivered 105,909 motorcycles and scooters to customers (2024: 113,072 units; -6.3%). The segment EBIT margin came in at 12.0% (2024: 11.6%)

BMW AG continues share repurchase programme
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 has approved a third share repurchase programme with a volume of up to € 2 billion, to be completed no later than 30 April 2027. Acquisition of the first tranche of € 750 million began in May 2025 and will be completed no later than December 2025. This underlines the consistent execution of the company’s shareholder return strategy.

BMW Group on course to meet guidance
The latest forecasts of IMF expect a global economic growth of 3.0% this year – eventually impacted by current trade disputes, the potential for higher inflation and ongoing uncertainties among companies and consumers.

The BMW Group expects increasing demand in many markets in 2025, driven by a stabilizing inflation rate and further moderate interest rate cuts. In China, high competition alongside with significant growth are further forecasted, particularly within the lower price segments.

In the USA, permanent tariffs could manifest in rising inflation. US trade policy and potential countermeasures from other countries may lead to slower global economic development.

The forecast published in the BMW Group Report 2024** in March 2025 took into account all tariff increases that had come into effect by March 12, 2025. Following the announcements on July 27, 2025, an agreement between the USA and the EU regarding the customs situation has been reached. Based on this, the BMW Group expects a partial reduction of the currently applicable mutual tariffs for automobiles and production parts from 1 August 2025. Due to the dynamic developments and ongoing negotiations, the expected tariff effects for the current fiscal year can still only be represented through assumptions regarding continuing negotiations. The forecast also includes mitigating measures to dampen the impact of the increased tariffs. In the fiscal year 2025, the BMW Group expects a tariff-related impact of approximately to 1.25 percentage points on the EBIT margin in the Automotive segment.

Given the sustained demand for its attractive premium vehicles, the BMW Group is able to confirm its guidance for the year.

The company expects slight growth in sales, with the share of fully electric vehicles in deliveries rising slightly.

Due to the factors mentioned above, Group earnings before tax are expected to be on a par with the previous year.***The EBIT margin for the Automotive Segment is forecast to be within the range of 5.0-7.0%. RoCE should be between 9-13%.

In the Financial Services Segment, RoE is projected to be between 13-16%.

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

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

The BMW Group’s actual business performance may deviate from the expectations described above – for example, due to changes in political and macroeconomic conditions. Earnings risks could arise, among other things, from changes in customs policy, while opportunities lie in a reduction of existing tariffs or their validity period. The company continues to monitor macroeconomic developments very closely.

**see BMW Group Report 2024, p.261.
***As of 1 January 2025, the forecast range for Group EBT has been adjusted. For details, please refer to the glossary in the BMW Group Report 2024.

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.

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 services. The BMW Group production network comprises over 30 production sites worldwide; the company has a global sales network in more than 140 countries.

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

The success of the BMW Group has always been based on long-term thinking and responsible action. Sustainability is a key component of the BMW Group’s corporate strategy – 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

BMW Group UK has appointed Andrew Jago as the new General Manager, Corporate Sales. In his new role, which commenced on 1 July, Andrew leads the team responsible for all BMW and MINI sales to business and leasing customers, reporting to Debbie McIntosh, Sales Director at BMW UK.

Andrew brings extensive experience and insight from a diverse career in the automotive industry, having held senior roles at both Toyota and Jaguar Land Rover in the UK and internationally.

Over the past six years, Andrew has led the Fleet and Business division at Jaguar Land Rover through one of the most transformative periods for the industry. His experience across multiple commercial roles has given him a deep understanding of Marketing, Sales and Customer Service within the automotive sector.

Commenting on the appointment, Debbie McIntosh said: “We are pleased to welcome Andrew to the team at an important moment for the BMW Group, as we begin introducing our next-generation Neue Klasse models to the corporate and fleet market in the coming year. His extensive background in fleet and business sales, including his experience navigating significant industry change in recent years, will bring a valuable perspective to the team.”

Andrew added: “I’m delighted to join BMW Group UK at such a pivotal time and to work with two brands I have long admired. Supporting our customers as they navigate the transition to electromobility and successfully establishing our next-generation vehicles are high priorities. I look forward to meeting new colleagues, partners and customers in the coming months.”

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 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

For further information please contact:

Chris Overall
BMW Media Relations Manager
Tel: 07815 370 990
Email: Chris.Overall@bmw.co.uk

Christina Burnham-Hepe
Corporate Communications Director
Tel: 07815 371 206
Email: Christina.Burnham-Hepe@bmw.co.uk

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 UK market.

Munich . An important chapter in the history of the BMW Group is coming to an end: Dr. Norbert Reithofer, Chairman of the Supervisory Board of BMW AG since 2015 and closely associated with the company for nearly four decades, is stepping down from his position, effective today.

“After 38 years, it is time for me to say goodbye to the BMW Group. It has been an honour to be a part of this exceptional company. I would like to thank all our associates, shareholders and stakeholders for your trust and support,” said Reithofer. “Together, we have overcome tremendous challenges and celebrated unparalleled successes. I firmly believe that the BMW Group will continue to follow its own, unique BMW path.”

Dr. Reithofer has held various managerial positions at the company since 1 October 1987, starting out as head of Maintenance Planning. From March 2000, he served as a member of the Board of Management, responsible for the Production division. In September 2006, Reithofer was appointed Chairman of the Board of Management, taking over from Helmut Panke. In May 2015, he succeeded Prof. Joachim Milberg as Chairman of the Supervisory Board.

The BMW Group’s success in recent decades is inseparable from the efforts of Dr. Reithofer. The extensive tribute to Reithofer's achievements at the 105th Annual General Meeting of BMW AG reflected this.

Stefan Quandt, Deputy Chairman of the Supervisory Board of BMW AG honoured Reithofer’s outstanding service to the company: “On behalf of my family and all our shareholders, I would like to thank you for your outstanding entrepreneurial achievements, which have brought the company to the position it is in today. I can say with absolute conviction: It is truly the end of an era.”

Far-reaching vision,international growth and electromobility

During his tenure as Chairman of the Board of Management, Reithofer paved the way for the company’s long-term success with Strategy “Number ONE”, which laid the foundation for the BMW Group’s international growth. Under his leadership, the company successfully navigated the 2008/09 global financial crisis, becoming the world’s leading premium manufacturer and continuing to expand its position.

With far-reaching vision, Reithofer launched the BMW i electromobility brand, accelerated digitalisation and played a key role in driving international expansion, particularly in the growth market of China. He established sustainability and resource efficiency as key elements of the BMW Group's corporate strategy early on.

Oliver Zipse, Chairman of the Board of Management of BMW AG, emphasised Reithofer’s significance to the BMW Group as a whole: “Dr. Reithofer is a major architect of the BMW Group’s success today. During his time as Chairman of the Board of Management, he elevated all the company's relevant key figures to a new level. As Chairman of the Supervisory Board, he always served as a valuable source of momentum and guidance, supporting the work of the Board of Management in a constructive, critical and motivating way. His successful efforts will continue to shape the course of the company well beyond the end of his tenure.”

BMW AG extends its sincere thanks to Dr. Reithofer for his visionary leadership, tireless commitment and entrepreneurial, pioneering spirit.

Supervisory Board sets course for continuity at the company

As Reithofer's successor, the Supervisory Board proposed Dr. Nicolas Peter for election to the Supervisory Board of BMW AG at the Annual General Meeting and, subject to his election, supported the proposal to appoint him as Chairman of the Supervisory Board following the Annual General Meeting 2025.

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

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

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 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 UK market.

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 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

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 by 14 May is also still expected to change.

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

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 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 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

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 UK market. 

Munich. The BMW Group managed to continue its growth path in 2024, delivering a total of 426.594 fully-electric vehicles to customers and achieving BEV-sales growth of +13.5%. Both BMW and MINI brands posted double-digit BEV growth, with 368,523 (+11.6%) and 56,181 (+24.3%) fully-electric vehicles delivered to customers, respectively. The Rolls-Royce brand also recorded significant growth with 1.890 BEV vehicles delivered (+479.6%). The BMW brand managed to increase deliveries across all vehicle drivetrains in all sales regions outside of China.

“The BMW Group is maintaining its growth trajectory for fully-electric vehicles amid challenging market conditions. This is reflected in both the significant sales growth for fully-electric vehicles and the clear rise in new BEV orders in Europe,” said Jochen Goller, member of the Board of Management of BMW AG responsible for Customer, Brands, Sales. “We are confident we can maintain our BEV sales growth in 2025 with our strong and expanded product line-up,” Goller continued.

While BMW Group deliveries for the first half of 2024 were in line with the previous year, sales performance in the second half of the year was impacted by delivery stops in connection with the Integrated Brake System (IBS), as well as subdued demand in China. The BMW Group therefore adjusted its sales guidance for the full year. With a total of 2,450,804 vehicles delivered to customers in 2024, the BMW Group achieved this new sales target. Electrified vehicles represented 24.2% of total BMW Group sales in 2024, with 593,215 units delivered to customers. Fully-electric vehicles accounted for 17.4% of total sales.

The BMW brand delivered 2,200,177 vehicles to customers in the full year 2024 (-2.3%). With its attractive product portfolio across all technologies, the brand maintained its position as the global leader in its segment. In the Europe region, the BMW brand expanded its market share, registering double-digit sales growth in Italy, France and the UK. The BMW brand also posted sales growth in the US. In Germany, despite a declining market for fully-electric vehicles, BMW saw growth in new BEV registrations.

With a total of 206,582 vehicles delivered to customers in 2024, M GmbH sales grew by +2.1%, reaching a new all-time high. The MINI brand, which updated its entire product range last year, sold 244,915 units worldwide (-17.1%). In the fourth quarter, the brand almost doubled its BEV sales year-on-year, with 29,698 fully-electric vehicles sold. The Rolls-Royce brand delivered 5,712 units to customers
(-5.3%) in the full year. During the same period, BMW Motorrad sold 210.408 motorcycles and scooters (+0.6%) and thus achieved another record year.

BMW Group sales in Q4/YTD December 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. 333.

BMW Group Corporate Communications

Dr Sina Unger, Communications Sales

Telephone: +49 89 382-47564

Email: sina.unger@bmwgroup.com

Carolin Bachmann, Communications Sales

Telephone: +49 89 382-38801

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

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 2023 was € 17.1 billion on revenues amounting to € 155.5 billion. As of 31 December 2023, the BMW Group had a workforce of 154,950 employees.

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

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

• BMW Group UK reports combined registrations for 2024 totalling 172,240 units, with over a quarter fully electric.
• BMW secures UK premium segment leadership with 125,265 registrations (+12 per cent).
• MINI registrations reach 46,975 units, with BEV sales increasing by 55 per cent.
• Growth in the luxury class, driven by bold design and innovative technology. 7 Series registrations + 48 per cent and BMW XM + 184 per cent.
• Strong demand for BMW M as registrations rose to 17,191 (+7 per cent).

Farnborough. BMW Group UK has reported combined registrations for BMW and MINI totalling 172,240 units in 2024, with over a quarter of these being fully electric. The BMW brand recorded 125,265 registrations (+12 per cent), securing its position as the UK’s leading premium automotive brand with a 22.6 per cent share of the premium sector. Battery electric vehicles (BEV) accounted for 26.9 per cent of BMW registrations and the brand registered more plug-in hybrid vehicles than any competitor in the premium segment, marking another year of strong growth in electrified models. MINI registered 46,975 units in the UK, with BEV registrations up 55 per cent on 2023, reflecting the successful launch of the new MINI product family.

“Our performance in 2024 reflects the strength of our product line-up and the dedication of our retailer network,” said David George, Chief Executive Officer of BMW Group UK and Ireland. “The BMW brand leading in the UK premium segment, coupled with over a quarter of BMW Group UK registrations being fully electric, demonstrates how innovative product and exceptional customer experiences continue to drive our success.

“BMW will start a new chapter in 2025 with the introduction of the Neue Klasse. The first model of a new generation of vehicles will bring groundbreaking technologies to our line-up, striking new design and further accelerate our electric mobility journey,” George added.

The BMW i4 led the brand’s all-electric sales growth with 12,953 registrations, up 45 per cent year-over-year. The first full year of sales for the BMW i5 saw 3,825 vehicles registered across both the Saloon and Touring models, with particularly strong uptake from corporate and fleet customers. The iX1 remained a firm favourite, achieving 5,790 registrations, while the first-ever BMW iX2 recorded 2,819 registrations in its first ten months on sale. With an extensive BEV line-up now spanning every major vehicle segment, BMW secured 20.4 per cent of the total premium BEV market in the UK last year and recorded an 18 per cent year-on-year increase in BEV registrations.

In addition to its all-electric success, BMW’s wider model portfolio continued to perform strongly. The BMW 1 Series was the brand’s UK best-seller, with over 24,450 registrations (+7 per cent), following a mid-year update that introduced a refreshed design and new technology, including the introduction of BMW Operating System 9 and mild-hybrid efficiency enhancements. The BMW 3 Series also benefited from updates, with the 330e plug-in hybrid now offering up to 62 miles of electric range (WLTP, combined) and faster charging capabilities, contributing to a 31 per cent increase in 3 Series registrations last year.

BMW experienced significant growth in its luxury class models, with a 48 per cent increase in 7 Series registrations, which includes the all-electric BMW i7. The BMW XM saw a 184 per cent rise in registrations compared with 2023, reflecting strong customer demand for bold design and innovative technology in the luxury and performance sectors.

BMW M remained highly sought-after in the UK, with performance and high-performance vehicle registrations reaching 17,191 in 2024, a 7 per cent year-on-year increase. The BMW M2, refreshed in 2024 with enhanced chassis technology and increased power output, saw exceptional demand with registrations rising by 101 per cent to 1,505 units.

MINI had a transformative year, registering 46,975 units, including a 55 per cent year-on-year increase in BEV registrations compared to 2023. This growth in all-electric registrations was driven by the introduction of a completely new model family throughout 2024. As production of individual models transitioned to the latest-generation offerings, overall UK volume for MINI was marginally down 1 per cent. The all-electric MINI Cooper, which launched in the spring, was key to this BEV growth with 6,141 registrations in its first seven months on sale. The new MINI Countryman also performed particularly well, with registrations up 7 per cent to 12,342 units, thanks to the model’s increased practicality and the introduction of an all-electric variant for the first time, which offers up to 287 miles of range (WLTP, combined). The MINI Aceman, an all-new and exclusively electric crossover, entered the market in the autumn and further strengthened the brand’s electrified line-up.

“The UK remains MINI’s most important global market with a deep-rooted passion for the brand and 2024 has been a pivotal year with the launch of our next-generation product family,” said David Beattie, Director of MINI UK and Ireland. “Our customers have embraced our new models, with more of them than ever choosing a fully electric MINI for the first time last year. We look forward to building on this momentum as MINI continues its journey in 2025 with the introduction of the brand’s first fully electric John Cooper Works performance models.”

BMW Group UK registrations - January to December 2024:

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

For further information please contact:

Chris Overall
BMW Media Relations Manager
Tel: 07815 370 990
Email: Chris.Overall@bmw.co.uk

Christina Burnham-Hepe
Communications Director
Tel: 07815 371 206
Email: Christina.Burnham-Hepe@bmw.co.uk 

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 UK 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