Paris/Cabourg, le 10 juin 2026 – À l’occasion de la 40e édition du Festival du Film de Cabourg, qui se tient du 10 au 14 juin 2026, BMW renouvelle pour la troisième année consécutive son partenariat avec cet événement emblématique. Avec une flotte 100 % électrique, un soutien renforcé à la jeune création et une expérience immersive unique, BMW confirme son engagement en faveur de l’innovation, de la culture et des talents de demain

Une édition anniversaire placée sous le signe de l’émotion et de la responsabilité

Du 10 au 14 juin 2026, le Festival du Film de Cabourg célèbre 40 années dédiées au cinéma romantique et à la découverte de nouveaux talents. À cette occasion, BMW accompagne les invités, officiels et artistes avec un dispositif de mobilité premium, en cohérence avec les valeurs d’excellence et d’innovation partagées avec le festival.

Pour cette édition anniversaire, BMW déploie une flotte exclusivement électrique, incarnant concrètement son ambition en matière de mobilité plus durable. Les transferts entre Paris, Caen et Cabourg sont assurés dans un confort silencieux, alliant technologie, plaisir de conduite et respect de l’environnement. L’année dernière entre 350 et 400 trajets avaient été réalisés sur l’ensemble de l’événement

Soutient aux talents émergents

Fidèle à son engagement en faveur des talents émergents, BMW poursuit et renforce son soutien à la jeune création cinématographique.

Cette année, BMW remet deux prix à la jeune création lors de la soirée du vendredi, chacun doté de 3 000 euros. À travers cette initiative, la marque réaffirme sa volonté d’accompagner concrètement les nouveaux visages du cinéma français et d’encourager l’émergence de parcours artistiques prometteurs.

Ce dispositif s’inscrit dans la continuité du soutien de BMW au prix « Premiers Rendez-vous », qui distingue les acteurs et actrices incarnant pour la première fois un rôle principal dans un long-métrage.

« Accompagner le Festival du Film de Cabourg dans cette édition anniversaire est une grande fierté pour BMW. Ce partenariat incarne pleinement notre vision : soutenir la création, révéler de nouveaux talents et proposer une expérience de mobilité en phase avec les enjeux de notre époque. Avec une flotte 100 % électrique et un engagement renforcé auprès de la jeune création, nous affirmons notre volonté d’allier émotion, innovation et responsabilité. »
Estelle Le Noé, Directrice Marketing BMW France

BMW, déclencheur d’émotions et mécène des Arts depuis 50 ans

Depuis plus de 50 ans, BMW France est fier d’être mécène des arts, favorisant la créativité et l'accès à la culture. Son partenariat avec le Festival du Film romantique de Cabourg, aux côtés de son partenariat avec le Festival de Cannes illustre le rôle de BMW comme déclencheur d'émotions et soutien des talents. Ensemble, BMW et le festival se réjouissent de promouvoir l'excellence cinématographique et la magie de la narration.

- Check against delivery –

The 106^th BMW Annual General Meeting!

A very warm welcome to all our shareholders!

Welcome to our most important event of the year. This is our opportunity to stand before you and answer your questions. We commit to doing so objectively, based on the facts. What you can always expect from BMW is confidence! Confidence is not a mood or an attitude. It is an active decision – especially when what we know becomes fragile. In hindsight, difficult situations often appear less dramatic than they do at the time.

It is our responsibility to set the right course. We refer to this as making robust decisions: decisions that are geared towards the company’s long-term success, based on data, facts and informed analysis. We assess developments with nuance, both globally and regionally – because that is how our world works. We make decisions with the future in mind.

This is possible because our investors also take the long view – especially our anchor shareholders, Stefan Quandt and Susanne Klatten – as well as our many institutional investors. For BMW, this is a privilege; for our employees, it is a source of stability and support; and, in a competitive environment, it is an advantage. This is one of the reasons why BMW turns external crises into opportunities for progress. In the current environment, many things are uncertain. That is why antifragility is our strategic tool of choice for ensuring the long-term future of your company.

Building on a foundation of continuity, we can achieve major advances in innovation – connecting brands, products, technologies and markets.

Standing here beside me is the new 7 Series – the latest example of BMW’s innovative strength. In April, it celebrated its world premiere at the Auto China trade show. The full Board of Management was there.

The 7 Series is the first vehicle already on the market to incorporate the technologies of the NEUE KLASSE. From this day forward, all future BMW models will feature its technology clusters and new design across all drive technologies – as promised. There will be more than 40 vehicles released in total between now and 2027. The NEUE KLASSE is our launchpad for the future.

You, Ladies and Gentlemen, know us well and support us.

What currently defines the BMW way?

1.    Robust strength in a dynamic environment:
Our financial year 2025.

2.    The race is on:
The NEUE KLASSE is realising its potential and generating excitement.

3.    Global player BMW:
Antifragile and future-proof.

These are the topics I would like to discuss.

Ladies and Gentlemen,

We met the following goals in financial year 2025:

•      Our target profitability range for the Automotive Segment.

•      Group earnings before tax of over 10 billion euros.

•      A 10-cent increase in our dividend – to 4.40 euros per share
of common stock.

We achieved all of this despite unfavourable currency translation effects, a difficult market situation in China and tariff headwinds.

We managed our business in an extremely disciplined manner, with everyone fully on board. We have saved 2.5 billion euros across all cost categories, while reducing our R&D spending and capital expenditure. Everything is progressing as planned – because we invested early in the NEUE KLASSE. Our people really gave it their all. So, I would like to say a big thank you to our BMW team worldwide.

Others are cancelling bonuses. We are paying our employees in Germany an attractive profit-sharing bonus for 2025. Our business model is robust. Models and markets are good indicators of this.

In 2025, we delivered more than 2.46 million vehicles to customers.

That is more than the previous year. All brands are contributing to this:

•      BMW leads the global premium segment.

•      BMW M GmbH increased its sales for the 14th consecutive year.

•      The MINI brand posted growth of around 18 percent, with the
new model family being very well received.

•      At Rolls-Royce, the number of handcrafted motor cars remained at the same high level as the previous year. We are now expanding our workshop in Goodwood to give our luxury brand more space for its Bespoke models and top-of-the-range Coachbuild products.

•      BMW Motorrad sold more than 200,000 two-wheeled vehicles in the segment above 500 cc, although the total market declined during the same period.

Let’s move from models to markets.

In Europe, we were – and still are – really strong. For the first time since the pre-Covid era, we once again delivered more than one million vehicles to customers. Although the US market is considered saturated, we made gains there. This is also thanks to our long-standing presence in the US. Spartanburg is our largest plant. It exports worldwide, with an export volume of more than 100 billion dollars over the past ten years. BMW remained the country’s largest automotive exporter by value in 2025. A fact that is recognized and appreciated in US political circles.

Every market is important, including the many markets outside the main regions, where we also recorded growth overall.

Let's turn our attention to China. China receives a great deal of coverage – and you, our shareholders, also have questions about it. More than 24 million vehicles were sold in China in 2025. China is also one of our industry’s most important technology hubs. However, the market there is normalizing, with fewer purchases being made.

Local manufacturers are increasingly entering the market and trying to gain market share. Competition is extremely intense.

Our objective for 2025 was to stabilize sales – and we achieved that, delivering 625,000 vehicles to customers in China. In the first quarter of 2026, the total market continued to decline. This is also affecting domestic suppliers and, specifically, the smaller vehicle segments. In this situation, BMW outperformed the market overall.

Our measures are taking effect. Three core areas are particularly important in China: local relevance, speed and software.

1.    We create value locally: This applies at our plants in Shenyang, our engine plant and the new battery center – all through our BBA joint venture.

2.    We responded quickly to the changing environment by consolidating development and purchasing activities and by reducing costs through increased local sourcing. Our new sales structure is making rapid progress.

3.    Digitalized vehicles: This is a key issue in China, where we have strong local technology partners in Momenta, DeepSeek and Alibaba Banma. Together, we are integrating innovations into our models.

Local relevance, speed and software are essential conditions for strengthening our competitive position. In China, we also benefit from BMW’s ongoing dialogue with policymakers in Liaoning Province and at national level. In February, I was part of Federal Chancellor Merz's business delegation to China. Our goal is very clear: We intend to resume our growth in China.

Our approach to this is the following: In China. For China. With China.

We develop products that are tailored to the wishes of our Chinese customers. Just a few weeks ago, we unveiled three new BMW models in Beijing: the 7 Series and the long-wheelbase versions of the iX3* and the i3.

These long-wheelbase versions are the most China-centric cars we have ever built. The media was impressed by the driving dynamics and digital experience offered by the iX3L.

In China. For China. With China.

That also includes exporting from China. This is where the European Commission's punitive tariffs on imports of fully electric vehicles from China are hurting us. They are among the highest tariffs we have to pay. That cannot be in the EU's interest. Tariffs are like a boomerang. Who pays them? The customer.

The same applies to the tariffs between the EU and the US. Imports into the US are subject to tariffs of 15 percent. For us, this means higher financial outlays. On the other hand, we would benefit from the new tariff rate for imports into the EU, which is expected to fall to 0 percent. The emphasis here is on “expected to.” The new rate has not yet been implemented by the EU.

The tariff debate remains dynamic and highly complex. The fundamental principle here is that tariffs do not protect; they cause damage – on all sides. A global production and supply network is a strength. Any industry that is supposedly shielded by tariff barriers is weaker – and ultimately shrinks.

We make this point clearly wherever we engage in political dialogue. Who knows better than we do in Europe that exports and free trade lay the foundation for innovation and for jobs. The European Commission generally has good intentions, but the execution often falls short. Take the “Made in Europe” initiative.

Every industrial policy measure should

•      recognize that exports drive value creation – especially in Germany,

•      and ensure continuity in cooperation with international trading
partners.

This is crucial for our globally interconnected industry. E-mobility, in particular, is not possible without global value chains.

Another example of “good idea, poor execution”: the CO₂ requirements from 2035. The current proposal does not support technology-openness and ignores market realities. For more than 90 percent of vehicles across the EU, a de facto ban looks set to remain in place. Strict electrification quotas are also planned for company fleets.

Following the ban on the supply side, restrictions on the demand side are now also set to be introduced. This benefits neither customers, nor European industry, nor the environment.

If key areas of the e-mobility value chain are to be located outside of Europe, we risk becoming unilaterally dependent. The European Parliament and the European Council have a clear responsibility in this regard. Things cannot remain as they are.

BMW shows how it can be done: with a technology-neutral approach. Our vehicles with conventional drive trains remain in demand. They, too, can achieve an even smaller climate footprint through the use of renewable fuels. At the same time, we are growing with our fully-electric models – BEVs for short – and our plug-in hybrids, or PHEVs.

We consistently outperform EU CO₂ targets and did so again in 2025 – by a significant margin of 2.9 grams. Based on our preliminary calculations, our fleet-wide emissions came in less than 90 grams of CO₂ per kilometer in Europe. We achieved this entirely through our own efforts – without “pooling” with other manufacturers or “averaging” across multiple years.

We are also setting our own targets, with goals that are realistic, reliable and ambitious. What matters most to us is the overall impact. That means every ton of CO₂ we can avoid emitting. Scope 3 upstream is becoming increasingly relevant in this respect: In other words, reducing the carbon footprint throughout the supply chain.

The overall balance determines the climate impact – not the drive train alone. Our plants require 36 million parts every day. These are delivered by 2,700 direct suppliers and another 65,000 second-tier suppliers. By 2030, we aim to reduce our CO₂ emissions by at least 40 million tonnes compared to 2019 levels. You already know that. Now, we are aiming even higher, targeting a further 20 million tons of CO₂ by 2035. As you can see: We are on track to reach NET ZERO by 2050. To achieve this, we are relying even more on secondary materials and CO2-free energy.

Germany carries significant weight as an industrial location within Europe.

Here, academic research, technological development and industrial implementation are closely intertwined.

However, we are falling behind:

•      Energy and labour costs are substantially higher than in
other countries.

•      The European Commission does not reward innovation and export orientation, but rather downsizing. It is replacing effective market mechanisms by bans and protectionism.

We are already feeling the effects of this trend. However, BMW is standing firm. In 2025, we built more than one million vehicles in our home country. About a quarter of all cars produced in Germany now come from BMW.

Our plants are operating at high capacity:

•      Regensburg was our highest-volume plant in Germany in 2025,
operating in three shifts.

•      Leipzig is our only plant where BMW and MINI vehicles are built on a single line – also in three shifts.                 

•      At our main plant in Munich, the new BMW i3 is also ready to go.
From 2027, the plant will produce only EVs. This follows a 650-million-euro investment in extensive remodelling in line with the principles of the BMW iFactory.

•      In Dingolfing, the two-millionth BEV has just come off the production line: a BMW i5* that we are delivering to Spain.

We can build different models and drive trains on the same production line – not only in Germany, but worldwide. So, when demand fluctuates, we are able to balance it out. Your company, esteemed shareholders, remains financially solid – capable of taking action and making investments.

In 2026, deliveries are forecast to be on a par with last year. The same applies to our BEVs. Our electric models have recently achieved strong year-on-year growth. Model cycles are now beginning to have an impact. The dynamics of the market regions and regulatory frameworks are shifting. In both the US and China, e-mobility now receives less government support.

The situation is different in Europe: In the first three months of the year, BMW recorded its highest-ever new orders for a first quarter: BEV sales are up more than 60 percent on the previous year, with well over 50,000 orders for the BMW iX3 alone since the IAA International Motor Show.

Our sales of fully electric vehicles have already surpassed last year’s strong performance in Europe. This, too, shows that different regions of the world are developing at different rates. In this context, our technology-neutral approach is proving all the more effective.

We have strong momentum across all brands and all drive technologies. That brings me to my second point:

The race is on.

The NEUE KLASSE is realising its potential and generating excitement.

Ladies and Gentlemen,

Many of you were with us at our Annual General Meeting in the Olympiahalle last year, when we unveiled the first two production models of the NEUE KLASSE live. Then, they were still wrapped in camouflage foil. Today, the iX3 is already driving on the roads, and we have already introduced the i3.

In January, we handed over the first iX3s to their new owners. The iX3 has been in European showrooms since March, with the US and Asia set to follow in the coming months. We are winning many new customers with the iX3. In Germany, one in three customers ordering an iX3 did not previously drive a BMW.

We are producing the iX3 at our new plant in Debrecen. Because demand is so high, we introduced a second shift in February – significantly earlier than planned. The iX3 can drive 805 kilometers on a single charge, according to WLTP. Our engineers like to test limits, so they wanted to show that it can do even more. A small team set out to drive the iX3 from Plant Debrecen to Munich – precisely 1,007 kilometers – without charging. No one has ever achieved that before with a vehicle in this class.

When they arrived at BMW Welt, they still had two percent charge left in the high-voltage battery. This record-breaking drive demonstrates the potential of the technologies in the NEUE KLASSE.

The eighth generation of the 3 Series now brings the NEUE KLASSE right to the heart of the BMW brand.

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Video.

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Ladies and Gentlemen,

There are cars that belong to history – and then there are cars that make history. The BMW i3 definitely falls into the second category. We celebrated the i3 premiere with around 40,000 employees at the BMW Park in Munich. The atmosphere was incredible.

We will begin series production in August, and the i3 will be launched shortly afterwards in Europe. The technical specifications of the i3 are truly exceptional – boasting a range of up to 900 kilometers in the WLTP cycle.

In just ten minutes, it charges enough energy to drive up to 400 kilometers. This is made possible by the sixth-generation e-drive with 800-volt technology.

The BMW i3 brings together all the technologies we have developed for the NEUE KLASSE – for the powertrain and driving dynamics, battery technology, operating concept and the digital driving experience.

The 3 Series is more than just a sedan – and it will remain that way in the future. The 3 Series Touring is very popular with families and business customers, which is why we have already confirmed this model.

Our M GmbH is inseparable from BMW: The first fully electric M model will debut in 2027. Thanks to the technologies of the NEUE KLASSE, this M model will also excel on the racetrack, if desired.

At the core of the NEUE KLASSE lies a completely new electronic and digital architecture. Many functionalities are enabled, expanded and continuously improved through software.

We can roll out new features and updates wirelessly via mobile communications or Wi-Fi. This allows us to react faster, scale innovations and meet regional customer needs.

Take BMW Panoramic iDrive, which combines display, operation and intelligent voice control in an intuitive and driver-oriented concept. It is typically BMW and, at the same time, locally customizable.

In China, we are working with Alibaba Banma to realize this. Together, we are bringing next-generation voice control into our vehicles. We are also enhancing the BMW Intelligent Personal Assistant with the functionality of the Chinese AI model DeepSeek.

In Europe and other markets, we will be integrating Alexa+ to make the voice assistant even more interconnected, intelligent and personalized.

We are relying on technology clusters as part of our modular approach.

In this way, we can integrate market-specific functionalities quickly and selectively into the vehicle, within a globally scalable system.

We are strengthening our research and development capacity in the regions accordingly. The NEUE KLASSE gives us the flexibility to respond precisely to regional requirements. The same applies to our driver assistance systems. Our objective is for them to be intelligent, symbiotic – and, above all, safe. We also have strong partners in this area: In China, we are working with Momenta, a leading supplier of ADAS technology; outside of China, we are collaborating with Qualcomm.

With the software-defined NEUE KLASSE, we maintain control over our systems and can roll out innovations worldwide. At the same time, we are able to rapidly integrate local technology stacks. This ensures that a BMW remains a BMW everywhere in the world. Nevertheless, every BMW offers precisely those features that local customers expect.

Now to the third key aspect that defines our BMW way.

How many global manufacturers do you think there are in our industry?

Not even a handful – but BMW is one of them. What does GLOBAL even mean in this context? Naturally, a global footprint across production, research and development, and sales. We call this local for local. It is how we secure access to individual markets, strengthening our local supply chains to make ourselves more resilient.

One example of this is our five new locations for high-voltage batteries – in Europe, the Americas and China. A global manufacturer has global brands – like we do with BMW, MINI, Rolls-Royce and BMW Motorrad.

We offer our customers a broad range of products across all key segments – from the urban compact-car segment to the absolute luxury class. And now, they are joined by BMW ALPINA, a highly exclusive brand with a strong tradition. With BMW ALPINA, we are tapping into a highly profitable, high-growth segment positioned above the BMW brand’s top models and below our Rolls-Royce luxury brand.

On the drive train side, we also offer battery-electric vehicles in all relevant segments. By end of the year, we will have 20 BEVs across all brands. Our plug-in hybrids also remain important. In 2028, BMW will add a further drive train: hydrogen. The next generation of our BMW X5 will then be available with five drive train variants.

Dear Shareholders,

Resilience is a word we hear a lot these days. But we are taking it a step further: We are making BMW antifragile. That means more than being resilient. Resilient companies withstand challenges, while antifragile companies use them to become better and to grow. This mindset transforms uncertainty into strategic clarity and pressure into momentum.

Difficult circumstances generate forward impetus that makes our company even stronger. Our global team makes this possible. In the autumn, we once again surveyed all our employees worldwide.

More than 90 percent said they support our goals and our strategy and 92 percent said they are proud to work at BMW.

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Video.

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What you see here is genuine. It is authentic. That is our BMW spirit, my dear Shareholders! At BMW, it is never about the individual – not the Board of Management; not the CEO.

It is always about our products and our brands; about the company – and its success. This is what we work for and strive towards. Because we can – and because we want to. Because it makes sense and unlocks potential. And because it brings joy – to our customers and to us in our daily work.

For almost seven years, since August 2019, I have been responsible for your company. Seven months after I took office, the coronavirus brought the world – and our plants – to a standstill. As you know, the period that followed remained turbulent.

We invested and initiated the NEUE KLASSE, the mega-project you see before you today. And we will continue – just as we always have at BMW for the past 110 years.

Tomorrow, dear Milan Nedeljković, you take over as Chairman of the Board of Management. The two of us have worked well together on the Board of Management.

Strategy is the responsibility of the Board of Management, and our strategy is focused on the long term. We consider and prepare for different scenarios. Decisions are made jointly by the Board of Management.

We implement them unanimously and with a united approach. Everything is done calmly and consistently, with a clear focus on the road ahead.

The appointment of new the Chairman of the Board of Management was decided and communicated in the same spirit.

Milan, I wish you and the Board of Management team continued strength in shaping the future. You, ladies and gentlemen of the Supervisory Board, continue to support us with critical and constructive guidance in true BMW style – always solution-oriented and focused on our shared success.

The fact that the entire Supervisory Board is present at our Annual General Meetings visibly underscores the support you give us,
Ladies and Gentlemen.

Those who invest expect their investment to be worthwhile, dear Shareholders. At the BMW Group, there are many compelling reasons why this will continue to be the case in the future.

Allow me to say, from the bottom of my heart:

Thank you for 35 intense and exciting years at BMW!

Munich. Continuité et expérience à la tête du groupe : à la fin de la journée, Oliver Zipse cédera son poste de président du directoire de BMW AG au Dr.-Ing. Milan Nedeljković. M. Zipse met ainsi un terme à son mandat au sein du directoire comme prévu, après avoir passé au total 35 ans au service de l’entreprise.

L'ensemble du Conseil de surveillance de l'entreprise exprime sa sincère gratitude à Oliver Zipse pour ses contributions exceptionnelles au sein du groupe BMW. Au cours de son mandat, il a réorienté stratégiquement l'entreprise et a guidé avec succès lle BMW Group à travers des crises mondiales telles que la pandémie de COVID-19.

« Grâce à son leadership stratégique et à son engagement de longue date, Oliver Zipse a marqué de son empreinte le développement du BMW Group. Son nom restera étroitement associé à la NEUE KLASSE, le projet phare de BMW tourné vers l’avenir », déclare le président du conseil de surveillance, le Dr Nicolas Peter. « Oliver Zipse a toujours su adopter une position claire, même face à des résistances extérieures, permettant ainsi à l’entreprise de maintenir le cap stratégique en période de turbulences. »

« Depuis plus de 35 ans, le BMW Group est mon port d'attache professionnel. Je pars avec un profond sentiment de gratitude : pour la confiance qui m'a été accordée, pour les défis professionnels qui m'ont conduit dans divers domaines de l'entreprise ; et surtout, pour une équipe exceptionnelle qui façonne la mobilité du futur avec passion et un esprit pionnier. « Ce fut un grand honneur pour moi de diriger BMW Group en tant que président du directoire pendant sept ans », déclare Oliver Zipse, président du directoire de BMW AG.

Son successeur, Milan Nedeljković, est membre du directoire de BMW AG depuis 2019 et était en charge de la production. Âgé de 57 ans, il a débuté sa carrière professionnelle au sein de l’entreprise en 1993 en tant que stagiaire et possède une vaste expérience internationale. M. Nedeljković a occupé divers postes de direction, notamment dans les usines d’Oxford, de Leipzig et de Munich, ainsi que celui de responsable de la qualité d’entreprise. Son contrat en tant que président du conseil d’administration court jusqu’en 2031.

Dr Nicolas Peter : « Milan Nedeljković se distingue par son esprit d'entreprise et son approche résolument axée sur les objectifs, ainsi que par sa vision claire et sa rigueur dans la gestion de dossiers complexes. Il accorde une grande importance à l'utilisation responsable des ressources, qu'elles soient économiques ou écologiques. »

Milan Nedeljković déclare : « Avec la NEUE KLASSE, nous mettons sur le marché une génération de véhicules qui établit de nouvelles références tant sur le plan technologique qu’émotionnel. La dynamique de nos produits est exceptionnelle. Associée à notre présence mondiale, elle nous donne un élan favorable. Dans un environnement dynamique, il est nécessaire d’agir avec cohérence et esprit d’entreprise. La rentabilité et la rapidité sont cruciales. Je me réjouis de mener cette entreprise extraordinaire vers l’avenir. »

Le Dr Raymond Wittmann (47 ans) lui succédera en tant que membre du conseil d’administration chargé de la production à compter du 14 mai. Il travaille au sein du BMW Group depuis 2015 et est responsable de la stratégie et du développement d’entreprise depuis 2024. Auparavant, il a occupé plusieurs postes de direction dans différentes divisions de l’entreprise.

« Raymond Wittmann allie réflexion stratégique, excellence opérationnelle et gestion d’entreprise rigoureuse », déclare le Dr Nicolas Peter. « Fort de sa vaste expérience interdivisionnelle et de sa vision internationale, il possède les qualités essentielles requises pour diriger la division Production. »

Dans le cadre de l’assemblée générale annuelle qui se tient aujourd’hui, le conseil de surveillance proposera que le Dr Christian Bruch, président du directoire de Siemens Energy AG, soit réélu au conseil de surveillance pour un mandat de quatre ans. Le mandat de M. Heinrich Hiesinger, ancien président du directoire de ThyssenKrupp AG, prendra fin à l’issue de l’assemblée générale annuelle d’aujourd’hui.

À l’issue de la 106e Assemblée générale annuelle de BMW AG, une assemblée distincte des actionnaires privilégiés se tiendra aujourd’hui. Elle aura pour objet de se prononcer sur l’approbation de la conversion de toutes les actions privilégiées en actions ordinaires.

Pour plus d'informations : 

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

www.bmwgroup.com

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Munich/Cannes. Pour la cinquième année consécutive, BMW accompagne le Festival de Cannes en tant que partenaire officiel et met à disposition un service de limousines exclusif dédié aux talents, professionnels et invités du festival. À l’occasion de cette 79ᵉ édition, le constructeur déploie une flotte de plus de 150 v é hicules é lectrifi é s et choisit la Croisette comme écrin pour la première présentation européenne de la nouvelle BMW Série 7.

Fidèle à son engagement à la croisée de l’innovation, du luxe et de la création, BMW marque également cette édition par une programmation dédiée au cinéma, entre exposition de modèles iconiques, prise de parole autour des mutations technologiques et annonce de l’extension de son programme BMW Art Makers au secteur du film.

Un dispositif de mobilité premium électrifié au cœur du Festival

À Cannes, BMW met en place une flotte exclusive conçue pour offrir une expérience de mobilité premium, fluide et responsable. Elle se compose notamment des modèles électriques BMW i7 et BMW iX, ainsi que de la BMW XM hybride rechargeable.

BMW et le cinéma : une présence historique célébrée à Cannes

À l’occasion du Festival de Cannes, BMW célèbre son lien étroit avec l’univers du cinéma à travers une exposition mettant à l’honneur les modèles de la Série 7 qui ont marqué le grand écran.

De Mission Impossible à Red Sparrow, en passant par Stranger Things, ces véhicules emblématiques témoignent de la place singulière qu’occupe BMW dans l’imaginaire cinématographique contemporain. Les visiteurs auront également l’opportunité de découvrir un modèle devenu iconique : la BMW Série 7 E38, rendue célèbre par son apparition dans James Bond – Tomorrow Never Dies , et symbole d’une certaine vision du luxe automobile à l’écran.

BMW Art Makers : une ouverture vers les talents du cinéma

Pour aller plus loin dans son engagement en faveur de la création, BMW annonce l’extension de son programme BMW Art Makers au secteur du cinéma à partir de 2027.

Jusqu’alors dédié aux arts visuels, ce programme reconnu entend désormais soutenir plus largement l’écosystème cinématographique, en accompagnant l’émergence de nouveaux talents, en valorisant l’excellence artistique et en encourageant les formes de narration innovantes.

Cette évolution s’inscrit dans un engagement culturel de long terme, porté depuis plus de cinquante ans par le BMW Group, et qui se traduit notamment par le soutien à des festivals internationaux majeurs, tels que Marrakech ou Karlovy Vary, ainsi qu’à de jeunes créateurs à travers des initiatives comme BMW Shorties.

Créé par BMW France en 2021, le programme BMW Art Makers accompagne chaque année un duo artiste–commissaire, dont les œuvres sont présentées aux Rencontres d’Arles puis à Paris Photo. En 2026, les lauréates sont Lara Tabet et Yasmine Chemali.

Un panel consacré à la création à l’ère des mutations technologiques

En parallèle de sa présence sur la Croisette, BMW organise une table ronde à la Plage des Palmes, réunissant des figures majeures du monde du cinéma et de la création autour d’une réflexion centrale : la place du savoir-faire humain à l’ère des grandes transformations technologiques.

Parmi les intervenants, Iris Knobloch, Présidente du Festival de Cannes, et Mehret Mandefro, productrice et entrepreneure nommée aux Emmy Awards, apporteront leur éclairage sur les enjeux contemporains de l’industrie.

Co-fondatrice de l’African Film and Media Arts Collective (AFMAC) aux côtés de l’artiste BMW Art Car Julie Mehretu, Mehret Mandefro œuvre activement au développement et à la structuration des industries cinématographiques sur le continent africain, incarnant ainsi une nouvelle génération d’acteurs engagés à l’échelle internationale.

Cannes déroule la tapis rouge à la nouvelle BMW Série 7

Temps fort de cette édition, BMW dévoile en première européenne la nouvelle BMW Série 7, véritable vaisseau amiral de la marque.

Présentée dans le cadre emblématique du Festival de Cannes, cette septième génération profondément réinventée incarne une vision résolument contemporaine du luxe et de l’innovation selon BMW. Elle marque une étape clé dans l’évolution de la marque en intégrant, pour la première fois, les technologies issues de la Neue Klasse, appelées à structurer les futurs modèles de la marque.

La nouvelle BMW Série 7 se distingue une approche globale du design et de l’expérience à bord. Son esthétique monolithique, à la fois sobre et expressive, est sublimée par des signatures distinctives telles que la calandre illuminée BMW Iconic Glow et les projecteurs minimalistes BMW Individual Crystal Headlights. Elle inaugure également la finition exclusive BMW Individual Dual-Finish, alliance inédite de peintures mate et métallisée, qui renforce encore son caractère statutaire.

À l’intérieur, l’attention portée aux détails et aux matériaux d’exception s’accompagne d’une intégration fluide des technologies les plus avancées. L’habitacle devient un véritable espace immersif, conçu comme une expérience sensorielle à part entière, portée par des équipements emblématiques tels que le BMW Panoramic iDrive, le BMW Passenger Screen ou encore le BMW Theatre Screen nouvelle génération, véritable écran de cinéma embarqué. Une signature lumineuse innovante vient compléter cet univers, renforçant l’atmosphère unique à bord.

Technologies de pointe et intelligence artificielle au service de l’expérience de conduite

Avec la nouvelle BMW Série 7, la marque franchit une nouvelle étape dans le développement de systèmes de conduite et d’interaction toujours plus intuitifs.

Grâce à l’intégration de solutions avancées d’intelligence artificielle et au déploiement du système BMW Symbiotic Drive, la voiture propose une expérience enrichie, où l’assistance à la conduite et la relation homme-machine gagnent en fluidité et en précision. Les fonctions de conduite semi‑automatisée de niveau SAE 2 s’accompagnent de dispositifs de sécurité active encore renforcés, tandis que les interfaces ont été repensées pour offrir une interaction plus naturelle, anticipant les besoins du conducteur et s’inscrivant pleinement dans une logique d’expérience personnalisée.

- Check against delivery –

Ladies and Gentlemen,

Good morning.

Before I'm talking about the quarter figures, I would like to address a tragic loss that has deeply touched many BMW fans around the world.

On May 1, race car driver, longtime BMW works driver, and company ambassador Alessandro Zanardi passed away unexpectedly.

“Alex” was an impressive personality, an unwavering optimist, and an inspiration to many people worldwide. He demonstrated what is possible in life with dedication, willpower, and ambition.

The BMW Group has lost a fascinating humanitarian representative, and BMW M Motorsport has lost an ambitious and successful works driver.

Ladies and Gentlemen,

Walter Mertl has taken you through the results after the first three months of 2026.

As we outlined in March at our Annual Conference, we knew that there would be several headwinds we would face throughout this year.

For us, it is about minimizing their impact, while consistently leveraging opportunities that arise.

At the same time, we remain firmly on course with our long-term strategy – a strategy that has provided clear direction and enabled us to navigate an increasingly unpredictable global business environment over recent years.

Three characteristics in particular define the BMW way:

First: Our strategy of technological neutrality

Second: The BMW Group’s global footprint and

Third: Inspiring brands and fascinating products.

Since 2021, the BMW Group’s long-term product and technology orientation has focused on the NEUE KLASSE.

Building on an exceptionally strong foundation of products and successful technologies delivered to customers over many years through to today, we are now making a huge leap forward in nearly every area of technology with the NEUE KLASSE. This will pay off as we roll these technologies out rapidly across the whole product portfolio.

Last year in September, here in Munich at the IAA Mobility, we presented the BMW iX3*, the first vehicle of the NEUE KLASSE. With this all-new vehicle generation BMW is entering into a new era.

The launch of the iX3 has been extremely successful.

Just a few weeks ago, in March, we handed over the first BMW iX3 vehicles to customers across Europe.

Over the past weeks, the model has also reached showrooms throughout the region.

Pre‑orders in Europe now exceed 50,000 units, underscoring the strong interest in this vehicle.

The iX3 also continues to win notable major international awards.

Most recently, it won two awards at the renowned World Car Awards. An international jury of 98 automotive journalists presented the BMW iX3 two prestigious titles: the 2026 “World Car of the Year”, beating out competitors across all powertrain categories; as well as 2026 “World Electric Vehicle” accolade.

With the first NEUE KLASSE model, BMW has delivered a clear step forward in technology and design – one that is resonating strongly with experts, journalists, and customers alike.

Given the very high market demand, we already pulled forward the second shift of BMW iX3 production at our Debrecen plant in February.

Further rollout across the US and Asian markets is planned for the coming months.

And the iX3 was just the beginning – a lot has happened since our annual conference. The NEUE KLASSE is gradually making its mark across the entire BMW portfolio.

In March, we unveiled the next step with the world premiere of the new BMW i3 at BMW Park in Munich.

Since 1975, the 3 Series has inspired dreams. At the core of the brand, each of the eight generations embodies progress and innovation. And with the BMW i3 we are building our future on this rich legacy.

This event provided a unique opportunity to celebrate this milestone not only with media and other key stakeholders, but especially and perhaps most importantly with our associates.

More than 30,000 employees joined the celebrations over days, underscoring the strong bond our team feels with the brand and their pride in this incredible moment – both for the company and for their achievements in bringing this vehicle to life.

As the second model of the NEUE KLASSE, the BMW i3 perfectly symbolizes the journey BMW has taken over the last years.

It is, of course, a completely new vehicle with a reimagined design and seamless integration of advanced technologies.

At the same time, the BMW i3 represents the progress of the BMW Group itself – from the systematic modernization of our production facilities through new ways of working that enable efficiency, scalability, and our long-term competitiveness.

The i3 will be produced at our main Plant in Munich. With an investment of around 650 million euros, the facility has been completely remodeled following the principles of BMW iFactory – lean, green, digital.

Production of up to 1,000 vehicles a day continued uninterrupted during the shopfloor adaptations over many months.

Beginning in 2027, the plant will exclusively produce electric vehicles.

The plant also continues to make great progress in realizing cost efficiencies. When the i3 rolls off the line for customers, we will have reduced overall production costs at the Munich plant by an additional 10%.

These improvements are driven by optimized production processes, targeted automation and digitalization, as well as the vehicle construction improvements enabled by NEUE KLASSE technologies.

Series production of the BMW i3 begins in August, followed by the market launch in Europe a few weeks later.

Several additional NEUE KLASSE models will soon be manufactured in Munich, including the BMW i3 Touring.

The BMW i3 leverages all the technologies developed for the NEUE KLASSE. From driving dynamics to powertrain, from battery technology to operating concept and the digital user experience.

And of course you can choose between different drive variants. Because we remain technology-open.

Each element is perfectly attuned to the characteristics of the 3 Series – creating a whole new dimension of sheer driving pleasure.

This is also confirmed by initial reviews and feedback from customers and journalists, which have been very positive.

This was also evident just two weeks ago at Auto China in Beijing, the world’s largest automotive trade fair.

We presented not 1, not 2, but 3 new models:

The BMW iX3 and BMW i3 Long Wheelbase for the Chinese market as well as the world premiere of BMW 7 Series model update with NEUE KLASSE technologies and design elements.

The China-specific NEUE KLASSE vehicles have been developed in close collaboration with our local R&D teams and local partners in China – think global, act local.

This enables us to leverage the know-how of leading Chinese tech players and integrate local digital ecosystems and technologies to meet the specific needs of our Chinese customer needs – for example, in voice assistant features and automated driving solutions.

The momentum generated by the NEUE KLASSE in China will provide a powerful impulse for our portfolio and marks the beginning of the next chapter in BMW’s tailored innovation and technology leadership in this key market.

In 2026, the seven millionth BMW vehicle will roll off the lines at our Shenyang production base. This remarkable milestone underscores our long-term commitment to China. And we are constantly strengthening our local footprint to underpin this momentum.

Through deeper localization across the value chain and expanded China-based decision making, we are faster, more robust, and even more synchronized with local customer expectations and market dynamics.

The new BMW 7 Series we unveiled in Beijing will kick off the roll-out of Neue Klasse technologies across all powertrains and into other product lines, and segments.

Coming in the middle of its lifecycle, it is the most extensive model revision in BMW's history and will take the 7 Series to a whole new level.

The technology-open drive offer covers all customer needs. The updated BMW i7 with new round battery cells features up to over 700 kilometers of range according to the WLTP cycle, meaning an increase of 100 kilometers from the current version.

Start of production will begin in our plant at Dingolfing in July.

The new 7 Series exemplifies BMW’s ability to industrialize the latest technologies at speed, integrating them into series vehicles and making them available directly to our customers.

This summer, we will also unveil the next generation of our BMW X5. It will be the first BMW model to be offered with five different drivetrain variants: highly efficient conventional powertrains, plug-in hybrid, battery-electric and – from 2028 – also hydrogen.

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

Ladies and Gentlemen,

Our products continue to enjoy strong demand globally. We are well positioned to meet the needs of customers across different regions and markets.

In the first quarter we leveraged the strength of our current portfolio in a shifting environment – supported by a broad offering across brands, segments, drivetrain technologies and geographies.

Consistent with our balanced, global approach to sales, the performance in Europe helped to partially offset weaker dynamics in other markets. Sales were particularly robust in Germany, where Group registrations increased by more than 10% year-on-year.

In China and the U.S., the BMW Group performed better than the overall declining market.

BEV orders in Europe were up by around 62%, with European sales of fully-electric vehicles exceeding the previous year’s high level.

For the fifth consecutive quarter, the MINI brand delivered global growth, with sales increasing by 6%.

As we roll out the NEUE KLASSE, we can look ahead with confidence. Its technologies and design language will provide fresh momentum into our already strong BMW products. Offering individual mobility solutions tailored to the needs of customers across markets worldwide.

At the same time, the company is prepared to weather differing dynamics in global markets and to seize opportunities.

That combination is what sets the BMW Group apart.

We have stayed on course, consistently implementing our long-term strategy and are now ideally positioned to reap the rewards.

This is very much part of our DNA. Time and again, the BMW Group has proven resilient from the pandemic through supply chain disruptions and semiconductor shortages and the energy crisis.

Throughout, we have remained true to our technology‑open approach, which has proven its strength as global automotive markets continue to transition and delivered stronger results in new technologies.

As this will be my final quarterly call as CEO of the BMW Group, I want to extend my sincere thanks to the media and capital market communities who have accompanied me throughout my tenure since 2019.

I have always valued our dialogue – at times challenging, but consistently constructive – and I am grateful for the professionalism and engagement you have brought to these exchanges.

I hope you will extend the same openness and warm welcome to my successor, Milan Nedeljković.

I wish you all the best – and look forward to answering your questions one last time.

Thank you.

- Check against delivery –

SLIDE 2: BMW Group Quarterly Statement to 31 March 2026

Ladies and Gentlemen,

Good Morning.

The year 2026 started off with sound financial results for the BMW Group, in line with our expectations.

SLIDE 3: BMW Group Performance in Q1 2026

In the first quarter, Group revenues totaled 31 billion euros.

Group earnings before tax amounted to 2.35 billion euros, approximately 25 percent lower than in Q1 2025.

With this result, we generated a Group EBT margin of 7.6 percent, on the level of the 2025 full year.

The operating profit in the Automotive segment was 1.345 billion euros.

Consequently, the EBIT margin in the Automotive segment stood at
5 percent, in the middle of our full-year guidance corridor of 4 to 6 percent.

As you know, we consistently focus on our reported figures. Accordingly, the five percent represents our reported
EBIT margin without any adjustments.

The Q1 extra tariff burden of 1.25 percentage points is accounted for in this margin.

In addition, the EBIT margin includes the depreciation from the BBA purchase price allocation of 1.2 percentage points.

SLIDE 4: Automotive Retail Units, BEV Units and Auto Revenue

Let me now provide more details on the Automotive Segment’s performance across key metrics.

In the first quarter, the BMW Group delivered around 566,000 BMW, MINI and Rolls-Royce vehicles to customers. This represents a slight decrease of 3.5 percent compared to the same period last year, driven by the sales decline of all-electric vehicles in the US and China.

The BMW brand saw a decline of 4.6 percent year-on-year.

This was driven by shifts in regional and powertrain sales.

The MINI brand continued its growth following the successful renewal of its model portfolio, achieving a solid sales increase of 6 percent.

Let’s take a closer look at our sales performance across regions.

Starting this year, we have slightly adjusted our regional sales reporting to reflect our sales organization structure rather than geographical continents.

In our largest sales region, Europe, deliveries increased slightly by 3.0 percent. We saw growth across all powertrains – combustion engine vehicles, all-electric vehicles and plug-in hybrids.

The BMW brand’s order intake in Europe showed strong growth across the entire product portfolio in Q1, with an order bank reaching well into the second half of the year.

In our sales region Asia-Pacific, Eastern Europe, Middle East, and Africa, deliveries declined by around 6,700 units – or 8.3 percent – year-on-year. This development was influenced by multiple factors, predominantly the macroeconomic environment and the diverse competitive landscape throughout the region, while the conflict in the Middle East had a limited regional sales impact in Q1.

In the Americas region, retail sales decreased by 4.0 percent year-on-year, primarily due to the US.

Here, sales of all-electric vehicles dropped significantly following the discontinuation of IRA support in the fourth quarter of last year. Our product portfolio enabled us to largely offset this decline and fulfil customer demand with our attractive ICE vehicles.

When comparing US sales to previous year, we must also remember that Q1 2025 was positively influenced by strong customer demand, driven by expectations of customs duty increases starting in April 2025.

Overall, we performed better than the total US market, which declined by 6.6 percent in the first quarter.

In China, the overall market declined sharply by over 17 percent in Q1, driven by reductions of government subsidies and changes of regulations.

By comparison, BMW Group sales decreased by 10 percent and therefore outperformed the overall market in Q1.

Switching gears to BEV retail sales:

In the first three months, the BMW Group delivered over 87,000 all-electric vehicles to customers worldwide.

Sales of electrified vehicles, including both BEVs and plug-in hybrids, amounted to approximately 133,000 vehicles.

This represents a BEV share of total sales of 15.5 percent and an electrified vehicle share of 23.4 percent.

In Europe, BEV sales continued to grow and order intake increased by more than 60 percent year-on-year, especially due to strong demand for our all-new iX3* and the iX1*.

In China and the US, the removal of incentives and the reduction of subsidies for electrified vehicles had a noticeable impact on BEV sales year-on-year, reflecting the country-specific market dynamics.

Automotive Segment revenues declined moderately by 7.0 percent to
27.2 billion euros in the first quarter.

Adjusted for currency translation, mainly from the US-Dollar and the Chinese Renminbi, the decrease was 2.9 percent.

It was driven by lower sales volumes and intense global competition.

Let’s now take a closer look at the year-on-year changes in the operational result on the following slide.

SLIDE 5: Automotive Segment EBIT in Q1 2026

In the first three months, changes in currency and raw material positions accounted for a negative impact of around 400 million euros.

As anticipated, the adverse FX development from the second half of 2025 continued into the first quarter of 2026.

The net effect of volume, model mix and pricing resulted in a negative impact of around 700 million euros compared to Q1 2025.

In addition to the impact from lower sales volumes, this decline was driven by intense competitive pressure across all major markets.

Ladies and Gentlemen,

We are continuing cost reductions across the company to tackle the overall headwinds.

In the first quarter of 2026, we have further reduced both R&D and capital expenditure, thanks to early investments in the NEUE KLASSE.

As of March, Group R&D expenditure totalled around 1.8 billion euros, a significant decrease of around 12 percent compared to the previous year.

The R&D ratio according to the German Commercial Code came in at 5.7 percent.

Despite this significant reduction, research and development expenses in the P&L increased by 100 million euros due to two factors:

An increase of 200 million euros in depreciation, resulting from capitalized development costs in prior years.

And a lower R&D capitalization ratio compared to Q1 2025, which decreased by 4.3 percentage points to 31.4 percent.

Our ongoing commitment to reducing operating costs is further visible by the development of selling and administrative expenses, which decreased by around 100 million euros year-on-year.

Other Cost Changes provided a tailwind of around 400 million euros compared to the first quarter of 2025.

This includes various factors, most notably manufacturing costs and warranty expenses as well a year-on-year tariff burden.

Overall, Automotive EBIT amounted to 1.3 billion euros in the first quarter.

The decline of approximately 700 million euros compared to Q1 2025 was driven by headwinds from FX, tariffs and depreciation.

SLIDE 6: Automotive Segment Free Cash Flow in Q1 2026

Free cashflow in the Automotive Segment amounted to around 800 million euros in the first quarter of 2026.

The net change in working capital reduced free cashflow by around
500 million euros, as expected.

This mainly reflects the typical Q1 inventory build-up, with production exceeding sales volume.

The impact of higher inventories was partly compensated by an increase in trade payables, which rose in line with production levels.

The net effect of capital expenditure and depreciation contributed about 600 million euros to free cashflow.

Depreciation exceeded capital expenditure in the first quarter, positively impacting free cashflow.

We expected this position to flip versus previous years, as we continue to reduce capex and see depreciation from earlier investments take effect.

This trend will continue throughout 2026.

The capex ratio for Q1 was 2.0 percent, reflecting the typical low level seen in the first quarter of the year.

The change in provisions reduced free cashflow in the first quarter by
300 million euros, primarily due to the consumption of warranty provisions.

The change in the position other reduced free cashflow by 300 million euros, mainly due to regular tax payments.

For the full year, the BMW Group is targeting a free cashflow in the Automotive segment above 4.5 billion euros.

Ladies and Gentlemen,

The BMW Group remains firmly committed to its shareholder return strategy, which includes both dividend payments and share buybacks.

The second tranche of our third share buyback program with a volume of 625 million euros is currently underway and is scheduled for completion by the end of August at the latest. The third tranche is planned to follow thereafter.

SLIDE 7: Financial Services Segment YTD March 2026

Let’s now turn to our Financial Services Segment.

In the first quarter, the number of new contracts concluded with retail customers increased slightly by 4.3 percent year-on-year, reaching 420,000 contracts.

The penetration rate for lease and loan offerings increased to 51.6 percent in the first quarter.

This development was supported by changes in the competitive environment in China. Mid-2025, local banks significantly reduced commissions related to brokering financing and insurance products for end customers.

Adjusted for FX effects, new business volume grew by 4.1 percent to about 16 billion euros.

Segment earnings for the first quarter amounted to 381 million euros, a decrease of 269 million euros compared to Q1 2025.

This decline results from an addition to an already existing risk provision in the UK. At the end of March, the Financial Conduct Authority (FCA) issued its final cross-sector compensation program for customers who were sold automotive financing products under certain commission models.

Unfortunately, the published program reflects only a few of the many amendment proposals made to the initial draft by both the UK Finance and Leasing Association and the BMW Group.

As a result, the compensation payment volume will likely exceed previous estimations.

Additionally, income from the resale of end-of-lease vehicles was lower year-on-year, as expected.

The credit loss ratio across the entire credit portfolio remained low at 0.27 percent.

SLIDE 8: Motorcycles Segment in Q1 2026

In the Motorcycles Segment, first-quarter deliveries declined slightly by 4.2 percent year-on-year.

Segment EBIT for the first three months rose to 89 million euros, with an EBIT margin of 11.4 percent.

Finally, one remark on the Other Entities result, which increased by around 300 million euros.

This was driven by positive valuation effects from interest rate derivatives, resulting from the sharp rise in long-term interest rates in March.

SLIDE 9: Outlook 2026

Ladies and Gentlemen,

Let me now turn to our outlook for 2026 and briefly outline some of our current assumptions.

The situation in the Middle East currently remains highly uncertain. Our outlook assumes that the ongoing conflict is temporary.

The expected tariff impact on our 2026 results can still only be estimated based on our existing assumptions.

We expect import duties from the EU to the US to remain at their current levels.

Following the recent positive vote in the European Parliament, we anticipate that tariffs on imports from the US to the EU will drop to 0 percent effective in the second half of the year.

Similarly, tariff reductions for imports into the US from Mexico and Canada are also expected to take effect in the second half of the year.

We continue to anticipate a full-year negative impact of around
1.25 percentage points on the Auto EBIT margin from the increased tariffs, after 1.5 percentage points in 2025.

In China, we are making good progress with our set of measures to support market performance.

The overall vehicle market in China declined more sharply than anticipated throughout the first quarter, already prompting several revisions of official market forecasts for the year by the CPCA.

In light of this trend, our focus will remain on achieving the right balance between sales volume, transaction prices, and dealer profitability.

Based on our assumptions, our full-year guidance parameters remain unchanged.

Group earnings before tax are expected to be moderately lower than in 2025.

In the Automotive segment, we forecast global deliveries to be at last year’s level.

The EBIT margin is expected to be within a corridor between 4 and 6 percent.

The EBIT margin in the Motorcycles Segment should also come in at between 4 and 6 percent.

In the Financial Services Segment, we are targeting a Return on Equity (RoE) in the range of 13 to 16 percent for the full year.

SLIDE 10: Q1 Profitability in the middle of full-year guidance corridor

Ladies and Gentlemen,

The year 2026 started off with sound financials for the BMW Group, with an Auto EBIT margin in the middle of our full-year guidance corridor.

Within our global business model, we continue to leverage flexibility across powertrains and regions, as we ramp up our NEUE KLASSE.

This flexibility enables us to effectively mitigate risks as they arise.

The prudent management of R&D, capex, and operating costs is clearly reflected in our Q1 results, underscoring our strong commitment to financial discipline.

With that, the BMW Group remains on track to meet its operational targets as we advance our strategic plan.

And as we roll-out the NEUE KLASSE technologies across the entire portfolio, we at the BMW Group and all of our stakeholders have plenty to look forward to.

Thank you.

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

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Paris. BMW s’associe pour la 16ᵉ année consécutive à l’une des compétitions automobiles classiques les plus prestigieuses : le Tour Auto. Du 3 au 9 mai 2026, sur un parcours reliant Paris à Biarritz, BMW sera présent en tant que partenaire officiel de la 35ᵉ édition de cet événement mythique.

À l’occasion de cette nouvelle édition, BMW mettra à l’honneur les 40 ans de la BMW M3, véritable icône sportive de la marque, dans le sillage de la légendaire BMW 2002 qui a posé, dès la fin des années 1960, les bases de la berline compacte sportive orientée vers le plaisir de conduire.

Créé en 1992 par Peter Auto, le Tour Auto fait renaître l’esprit du légendaire Tour de France Automobile, qui figure parmi les plus anciennes compétitions automobiles au monde. Il s’est imposé comme l’un des rendez-vous incontournables du calendrier international, conjuguant patrimoine automobile, exigence sportive et découverte du territoire.

Chaque année, l’événement emprunte un itinéraire renouvelé sur les routes secondaires françaises, alternant épreuves chronométrées sur routes fermées et sessions sur circuit, déterminant le classement final. Pour prendre le départ, les concurrents doivent engager un modèle ayant participé au Tour de France Automobile entre 1951 et 1973, avec quelques exceptions jusqu’en 1984. Deux catégories sont proposées : « compétition » et « régularité ».

Pour cette 35ᵉ édition, environ 240 voitures classiques de sport et d’exception traverseront la France entre Paris et Biarritz. En amont du départ, les passionnés pourront découvrir ces modèles sous la verrière du Grand Palais, à l’occasion des Journées Grand Public les dimanche 3 et lundi 4 mai, ainsi que lors de la soirée de lancement organisée le lundi 4 mai.

C’est dans ce cadre exceptionnel que l’aventure débute : alignées sous la nef, les automobiles dévoilent leurs lignes et leur caractère, dans une atmosphère déjà tournée vers la compétition.

Les équipages s’élanceront ensuite vers quatre circuits emblématiques – Nevers Magny-Cours, Albi, Pau Arnos et Nogaro – et feront halte sur cinq parcs fermés : Clermont-Ferrand, Pont du Gard, Toulouse, Pau et enfin Biarritz, ville d’arrivée de cette 35ᵉ édition.


BMW 2002 turbo : l’icône qui ouvre la voie

À l’honneur sur l’affiche du Tour Auto 2026, la BMW 2002 Turbo symbolise l’un des tournants majeurs de l’histoire de BMW. À la fin des années 1960, la marque affirme son identité avec des berlines compactes, légères et dynamiques. La BMW 2002 incarne cette nouvelle philosophie : un format contenu, une ligne épurée et un moteur vif, offrant un équilibre inédit entre polyvalence et sportivité.

Au début des années 1970, BMW franchit une nouvelle étape en introduisant une technologie alors quasi inédite sur un modèle de série : la suralimentation par turbocompresseur. Présentée en 1973, la BMW 2002 Turbo se distingue autant par ses performances que par son design : voies élargies, éléments aérodynamiques spécifiques et signature visuelle affirmée. Son quatre cylindres suralimenté délivre des performances remarquables pour l’époque, transformant cette compacte en véritable concentré de sensations. Produite en série limitée dans un contexte marqué par la crise pétrolière, la BMW 2002 Turbo connaîtra une carrière commerciale courte, mais une influence durable. Première voiture européenne de grande série équipée d’un turbocompresseur, elle préfigure l’évolution de la performance automobile et affirme une conviction forte chez BMW : une berline compacte peut offrir des sensations dignes d’une voiture de sport. En la plaçant au cœur de son identité visuelle, le Tour Auto 2026 rend hommage à cette pionnière, qui a ouvert la voie aux berlines sportives modernes, et notamment à la BMW M3.

40 ans de BMW M3 : la légende des berlines sportives BMW à l’honneur

Quatorze ans après la 2002 Turbo, BMW concrétise cette vision avec un modèle appelé à devenir une référence : la BMW M3.

Lancée en 1986, la première génération (E30) est conçue dès l’origine pour la compétition, notamment en vue de son homologation en DTM. Avec sa carrosserie profondément retravaillée, son châssis affûté et son moteur quatre cylindres atmosphérique à haut rendement, elle s’impose immédiatement comme une référence en matière de précision et de plaisir de conduite.

Pour célébrer les 40 ans de cette lignée, BMW exposera au Grand Palais plusieurs générations emblématiques :

• BMW M3 (E30) – 1986 : la pionnière. Développée pour la compétition, elle est rapidement devenue une légende auprès des passionnés. Son moteur quatre cylindres atmosphérique, dérivé de la compétition, associé à un poids contenu et à un châssis particulièrement dynamique, a constitué l’ADN des BMW M3 : légèreté, précision et engagement.
  
  
• BMW M3 GT Coupé (E36) – 1995 : déclinée de la première génération de BMW M3 à adopter le six cylindres en ligne, la M3 GT Coupé est l’une des déclinaisons les plus rares et les plus désirables. Cette génération vise un équilibre inédit entre performance, confort et utilisation quotidienne. Son six cylindres en ligne, au timbre devenu emblématique, et son design sobre en font aujourd’hui encore une icône des années 1990.  
  
  
• BMW M3 GTR (E46) – 2001 : l’expression la plus extrême de la BMW M3 E46. Produite en série ultra-limitée, elle est étroitement dérivée de la voiture engagée en American Le Mans Series. Son moteur V8 de compétition, son caractère radical et sa rareté en font l’un des symboles les plus purs de l’engagement de BMW Motorsport en endurance.
  
  
• BMW M3 Competition M xDrive Berline (G80) – 2020 : l’expression contemporaine de la BMW M3. Avec son six cylindres en ligne suralimenté, sa puissance dépassant largement les 500 ch dans ses configurations les plus affûtées et l’adoption de la transmission intégrale M xDrive, elle repousse une nouvelle fois les limites de la berline sportive. Capable de performances de très haut niveau tout en restant utilisable au quotidien, elle perpétue l’ADN M3 en l’adaptant aux attentes contemporaines, notamment en matière de polyvalence et de technologies embarquées.
  
  

Réunies sous la verrière du Grand Palais, ces quatre générations illustrent 40 ans d’innovation et d’engagement en compétition. Elles témoignent de la capacité de BMW à faire évoluer sa vision de la berline sportive sans jamais renoncer à son principe fondateur : placer le plaisir de conduire au cœur de l’expérience.


BMW France au cœur de la mobilité du Tour Auto 2026

Fidèle à son rôle de partenaire officiel, BMW France sera pleinement impliquée dans la mobilité du Tour Auto 2026. Une flotte de véhicules thermiques, hybrides rechargeables et 100 % électriques sera mise à disposition de l’organisateur afin d’assurer l’ensemble des besoins de logistique, de liaisons et d’assistance tout au long du parcours entre Paris et Biarritz.

Sur les parcs fermés de chaque étape, les spectateurs pourront également découvrir deux modèles de la gamme actuelle illustrant la diversité de l’offre BMW :

• • La BMW M440i xDrive Cabriolet : une interprétation du plaisir de conduire à ciel ouvert, associée aux performances d’un moteur six cylindres en ligne.
    
    
  • La BMW i4 M60 xDrive : un Gran Coupé 100 % électrique au caractère affirmé, incarnant la sportivité BMW dans l’ère de l’électrification.

À travers cette présence, BMW France réaffirme son attachement au Tour Auto et son rôle central dans un événement qui célèbre à la fois le patrimoine automobile et le plaisir de conduire, d’hier, d’aujourd’hui et de demain.

Pour plus d’informations, merci de contacter :

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

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

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

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

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

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

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

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

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

Class H           The Pace Race: The Supercar Comes of Age

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

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

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

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

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

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

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

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

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

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

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

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

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

Stay informed on these channels:

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

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

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

BMW Group Classic Media Server für Downloads:

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

Veuillez trouver les photos additionnelles de la première mondiale de la BMW i3, en présence d’Oliver Zipse, Président du Directoire de BMW AG, et d’Adrian van Hooydonk, Directeur du Design du BMW Group.

- Check against delivery –

Statement

Walter Mertl

Member of the Board of Management of BMW AG, Finance

Annual Conference 2026

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

Good morning,

Ladies and Gentlemen,

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

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

In the face of these headwinds:

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

SLIDE: OVERVIEW OF PERFORMANCE FY 2025

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

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

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

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

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

SLIDE: GROUP FIGURES

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

SLIDE: SEGMENT PERFORMANCE

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

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

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

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

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

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

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

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

SLIDE: BMW GROUP SALES GLOBALLY AND BY REGION

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

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

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

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

SLIDE: BMW ELECTRIFIED AND BEV SALES GLOBALLY AND BY REGION

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

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

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

SLIDE: AUTOMOTIVE SEGMENT REVENUES

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

SLIDE: AUTOMOTIVE EBIT BRIDGE

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

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

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

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

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

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

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

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

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

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

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

SLIDE: R&D EXPENDITURE

Looking at R&D and Capital Expenditure in detail:

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

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

SLIDE: GROUP CAPITAL EXPENDITURE

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

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

SLIDE: AUTOMOTIVE FCF BRIDGE

Moving to free cash flow:

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

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

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

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

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

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

SLIDE: FINANCIAL SERVICES SEGMENT

Let’s now turn to our Financial Services segment.

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

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

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

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

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

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

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

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

SLIDE: DIVIDEND AND PAYOUT RATIO

Ladies and Gentlemen,

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

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

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

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

SLIDE: OUTLOOK 2026

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

What are our expectations for 2026?

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

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

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

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

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

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

- Check against delivery –

Statement

Oliver Zipse

Chairman of the Board of Management of BMW AG

Annual Conference 2026

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

Part I

Good morning, Ladies and Gentlemen,

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

First:

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

Second:

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

Third:

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

Fourth:

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

And finally:

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

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

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

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

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

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

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

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

This success is built on three important parameters.

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

First: Our balanced global positioning in sales and production.

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

And third: Our consistent strategic focus on technology openness.

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

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

This shows that our business model is robust and resilient.

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

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

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

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

Our worldwide presence is a decisive competitive advantage.

All BMW Group brands contributed to our 2025 result.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

Our electrified vehicles provide the clearest proof of this:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

It underlines that we are “already ahead”.

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

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

Part II

Ladies and Gentlemen,

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

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

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

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

Let’s start with the first item:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

But this is only the start.

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

Thank you very much.

Lyon/Chassieu. Les équipes de BMW Motorrad France se font un plaisir d’accueillir les visiteurs passionnés sur de nombreux espaces expérienciels du mercredi 25 février au dimanche 1^er mars 2026. D’une superficie de 720 m², le stand principal, situé dans le hall 4 d’Eurexpo Lyon (Boulevard de l’Europe à Chassieu), réserve au public français de nombreuses nouveautés.

Un stand repensé, riche en nouveautés et exclusivités.

Véritable coup d’envoi de la saison pour les motards et les passionnés, le Salon du 2 Roues de Lyon permet aux équipes BMW Motorrad France d’inviter les visiteurs à vivre une expérience immersive. Cette plongée dans l’univers de la marque bavaroise commence par une zone d’exposition particulièrement riche. Cette dernière accueille pour la première fois en France de nombreuses nouveautés, avec notamment :

• la très attendue BMW F 450 GS : après le concept éponyme l’année dernière, le modèle de série pose ses roues à Eurexpo pour offrir au visiteur un aperçu de la synthèse parfaite de l'ADN "GS" dans la catégorie 48 ch.

• les inédites BMW F 900 GS Frozen Pure Grey et BMW F 900 XR Aurelius Green Metallic Matt : BMW Motorrad France profite de ce grand rendez-vous pour présenter deux coloris inédits sur les BMW F 900 R et BMW F 900 XR. Qu’il soit réservé habituellement aux modèles les plus exclusifs de la gamme pour l’un, ou qu’il soit emprunté au catalogue de teintes de carrosserie BMW Individual des automobiles BMW pour l’autre, ces coloris renforcent encore les personnalités déjà affirmées des BMW F 900 R et BMW F 900 XR. Pour plus d’informations, vous pouvez vous rendre sur la page dédiée du site internet www.bmw-motorrad.fr..

• les nouvelles BMW R 1300 RT Police et Gendarmerie Nationale : après sa sélection en 2022 et trois années de collaboration réussie, BMW Motorrad France a été sélectionné dans le cadre du renouvellement de l’appel d’offres publié par l’Union des groupements d’achats publics (UGAP) pour la fourniture de « motocyclettes équipées de manière spécifique et prestations annexes » et exposera deux modèles équipés et sérigraphiés.

La marque expose également des concepts définissant l’avenir de la mobilité et du plaisir à deux roues selon BMW Motorrad :

• le BMW Motorrad Vision CE : vision de l’avenir de la mobilité dans les centres urbains qui se distingue par le fait qu'il ne nécessite ni casque ni équipement de protection lors de son utilisation.

• la BMW Motorrad Concept RR : dévoilée l’année dernière au Concorso d'Eleganza Villa d'Este, ce concept incarne la quintessence de la performance technologique et du design, et préfigure la prochaine génération de modèles BMW RR.

Des animations inédites et des essais proposés aux visiteurs du salon .

Au fil des espaces thématiques et des animations, le public explore une univers BMW Motorrad où innovation, esprit voyage et culture « Make Life A Ride » se rencontrent.

Persuadées qu’un salon doit « se vivre » et ne pas se résumer à une exposition de modèles, les équipes de BMW Motorrad France sont présentes pour faire essayer ses modèles aux visiteurs :

• Le camion du BMW Motorrad Tour fait escale au Salon du 2 Roues Lyon afin de faire essayer l’ensemble de la gamme sur route aux visiteurs.
  • Inscription sur place mais également en ligne via ce lien : Salon du 2 Roues 2026 – Essais Routiers

• Dans la zone off-road (hall 2), les visiteurs peuvent découvrir ou redécouvrir la joie du off-road au guidon de motos BMW mais également essayer les modèles et technologies développés pour cette pratique : BMW R 1300 GS avec le système de passage de rapports automatique Automated Shift Assistant (ASA), BMW R 1300 GS, BMW F 900 GS, BMW F 800 GS (permis A2) et BMW R 12 G/S.
  • Inscription sur place ou en ligne via ce lien : Salon du 2 Roues 2026 – Initiation Off-Road

En complément de la vingtaine de modèles exposés sur son stand principal, et pour démontrer que le concept BMW Motorrad Vision CE est à un stade avancé de développement, les visiteurs ont la chance de voir ce dernier évoluer en totale autonomie sur un périmètre défini du stand de la marque au cœur du hall 4.

Afin d’encore renforcer leurs expériences, les passionnés peuvent bénéficier d’offres exclusives mais également découvrir les dernières collections d’équipements du pilote et lifestyle BMW Motorrad dans la boutique située au cœur du stand principal de la marque.

Paris. En 2026, le salon Rétromobile fête un double anniversaire exceptionnel : ses 50 ans d’existence et les 50 ans des légendaires BMW Art Cars. À cette occasion, le BMW Art Car World Tour pose ses valises à Paris du 28 janvier au 1er février 2026, avec une exposition inédite réunissant pour la première fois en France les sept BMW Art Cars ayant participé aux mythiques 24 Heures du Mans. Un rendez-vous unique où se rencontrent art contemporain, héritage automobile et histoire du sport d’endurance.

Quand l’art rencontre la compétition : un demi-siècle d’audace créative

Née en 1975 de l’intuition d’Hervé Poulain, pilote et commissaire-priseur, la collection BMW Art Cars incarne l’idée visionnaire de confier la carrosserie d’une voiture de course à un artiste de renommée mondiale. La première œuvre, réalisée par Alexander Calder sur une BMW 3.0 CSL engagée aux 24 Heures du Mans, a ouvert une série devenue emblématique.

Depuis, des artistes majeurs tels que Frank Stella, Roy Lichtenstein, Andy Warhol, Esther Mahlangu, Jenny Holzer, Jeff Koons ou plus récemment Julie Mehretu ont poursuivi cette aventure singulière, transformant les voitures de compétition BMW en véritables œuvres d’art roulantes.

Une rétrospective inédite à Rétromobile 2026

Au cœur du Parc des Expositions de la Porte de Versailles, BMW et Rétromobile dévoileront une scénographie exceptionnelle, pensée comme un « garage de légende ». Le public pourra y découvrir les sept BMW Art Cars ayant couru au Mans :

• BMW 3.0 CSL (1975) – Alexander Calder
• BMW 3.0 CSL (1976) – Frank Stella
• BMW 320i Turbo (1977) – Roy Lichtenstein
• BMW M1 (1979) – Andy Warhol
• BMW V12 LMR (1999) – Jenny Holzer
• BMW M3 GT2 (2010) – Jeff Koons
• BMW M Hybrid V8 (2024) – Julie Mehretu

Cette réunion exceptionnelle, une première mondiale dans ce format, permettra de retracer 50 ans de dialogue entre art et endurance.

La première BMW Art car signée Alexander Calder exposée à l’Hôtel de la Marine

À l’occasion de Rétromobile 2026, BMW Group met à l’honneur l’une de ses œuvres les plus emblématiques : la BMW Art Car d’Alexander Calder, pionnière de la collection des BMW Art Cars. Installée au cœur de l’Hôtel de la Marine, cette icône a marqué le début d’une aventure artistique et sportive exceptionnelle est présentée sous un dôme transparent jusqu’au 26 janvier.

Une étape majeure du BMW Art Car World Tour

L’exposition parisienne s’inscrit dans le BMW Art Car World Tour, lancé en 2025 à l’occasion du 50ᵉ anniversaire de la collection. Ce tour du monde, qui s’étend jusqu’à la fin de l’année 2026, compte déjà plus de 48 étapes prestigieuses : Bruxelles (Zoute Grand Prix), Marrakech, Johannesburg, Pebble Beach, Contemporary Istanbul, Milan (ADI Design Museum) et désormais Paris.

Helmut Kaes, Directeur de BMW Group Classic, déclare :

« BMW Group Classic est fier de soutenir la présence des BMW Art Cars au salon Rétromobile 2026, en collaboration avec nos collègues de l'engagement culturel, BMW France et les organisateurs du salon. L'occasion ne pouvait être plus appropriée : les 50 ans du salon Rétromobile et le 50e anniversaire  de la collection des BMW Art Cars. »

Romain Grabowski, Directeur du salon Rétromobile, ajoute :

« Après une année d'attente et de préparatifs, la 50e édition du salon Rétromobile ouvrira ses portes dans quelques jours, le 28 janvier. Plus que jamais, nous sommes impatients de dévoiler l'exposition des sept BMW Art Cars qui ont participé aux 24 Heures du Mans et qui feront escale en France pour la première fois»

Vincent Salimon, Directeur de BMW France, termine :

« Célébrer les 50 ans de la collection BMW Art Cars, c’est avant tout rendre hommage à une audace visionnaire née il y a un demi-siècle, où l’art et la course automobile se sont unis pour la première fois. Cette exposition exceptionnelle à Rétromobile incarne la rencontre unique entre créativité, innovation et héritage, valeurs au cœur de notre marque. Les BMW Art Cars symbolisent notre passion pour le design, la performance et la liberté créative, illustrant comment l’art et la mobilité façonnent ensemble l’avenir. Un grand merci à Romain Grabowski, Directeur du salon Rétromobile, grâce à qui nous pouvons proposer cette exposition exceptionnelle qui permet de partager ces œuvres d’art roulantes avec le public. »

Rétromobile, le plus beau garage éphémère du monde.

Rétromobile, souvent décrit comme « le plus beau garage éphémère du monde », est avant tout un lieu de rencontre pour tous les amateurs de véhicules d’exception depuis près de 50 ans.
Cet événement d’envergure internationale, qui se tient à Paris, est le premier salon de la saison pour les passionnés de voitures anciennes.
Depuis un demi-siècle, ce salon fait battre le cœur de ceux qui aiment les voitures, non pour leur puissance, mais pour leur histoire.

Informations pratiques : Rétromobile 2026

Dates : du 28 janvier au 1er février 2026
Lieu : Paris Expo Porte de Versailles

Pour suivre l’engagement culturel de BMW :

https://www.instagram.com/bmwgroupculture_fr/
https://www.instagram.com/bmwfrance/

- Check against delivery –

Ladies and Gentlemen,

Good Morning.

In the third quarter of 2025, the BMW Group continued its strategic course and maintained its global market position.

But before we dive into the details of the quarter, I would like to directly address our communication from October 7th.

You all know the BMW Group as an ambitious company.

We have always focused on identifying opportunities and realizing market potential, and our success demonstrates that this is the right approach.

In 2025, despite all known challenges, we were confident in the fundamental potential of the Chinese market.

Our planning scenario was fully confirmed during the first six months, with a performance on the level of the second half of 2024.

For the second half of this year, we assumed we would see growth momentum.

However, at the beginning of the fourth quarter we observed that this momentum had not materialized to date.

So, for the remainder of 2025, volume stabilization, rather than volume growth, now appears likely. Accordingly, we have adjusted our planning and now anticipate a consistent monthly run rate in China in line with the first half of 2025.

In addition, we have introduced measures to support the profitability and liquidity of our dealers in China.

These measures will also have an impact on our Q4 profitability.

The consolidation of our dealer network in China is progressing to plan.

Ladies and Gentlemen,

With respect to tariffs, the BMW Group has been fully transparent throughout the year concerning the impact on our 2025 financial results.

Our original guidance given in March as well as our updated assessments in the Q1 and Q2 reporting were based on certain assumptions.

As mentioned in our ad-hoc announcement, these assumptions were not fully realized as expected to date.

We now anticipate a tariff-related headwind of 1.5 percentage points on the Auto EBIT margin for the full year.

I will share further details on our full-year outlook later on.

But now, let me walk you through our Q3 figures.

Group earnings before tax totaled over 2.3 billion euros in the third quarter and exceeded 8 billion euros year-to-date through September.

Compared to the first nine months of 2024, this represents only a slight decrease of 9.1 percent – a notable achievement in light of the current developments in the Automotive industry.

And for the full year, we also expect a decrease in the single-digit range only.

This represents a full-year Group profit before tax of approximately 10 billion euros – despite the significant burden of higher tariffs.

Excluding the impact of tariffs, pre-tax profit even exceeds the 2024 figure.

Within the BMW Group ecosystem, every segment contributes to our overall success.

The reported Group EBT margin stood at 7.2 percent in the third quarter and 8.1 percent year-to-date through September.

The reported Auto EBIT margin fell within our full-year target corridor for both Q3, at 5.2 percent, and year-to-date through September, at 5.9 percent.

Ladies and Gentlemen,

As you know, the BMW Group is always transparent in its reporting, and we consistently focus on communicating our published figures.

For better comparability within the industry, allow me, nevertheless, to provide a few additional details regarding our operational performance in the Automotive segment.

First: Auto EBIT includes the depreciation resulting from the purchase price allocation of BBA.

Excluding this depreciation, which amounts to approximately 1.1 percentage points, the quarterly margin would be 6.3 percent, and the nine-month margin would be 7.0 percent.

Second: Auto EBIT also includes the burden of extra tariffs, which amounts to around 1.75 percentage points in the third quarter and 1.5 percentage points through September.

This impact should also be added for a fair comparison of our EBIT margin.

Q3 deliveries to customers at Group level increased solidly by 8.7 percent year-on-year.

After nine months, the share of all-electric vehicles reached 18 percent of total sales.

And with a share of 26.2 percent, more than one in four vehicles sold globally was electrified, meaning either a BEV or a plug-in hybrid.

Let’s now take a look at how the Automotive Segment performed across key metrics.

Deliveries of BMW, MINI and Rolls-Royce vehicles to customers reached 588,140 units in the third quarter.

In Europe, sales grew by 9.3 percent, and in the US by 24.9 percent.

In China, retail sales did not meet our expectations, with deliveries at previous year’s level.

After nine months, global retail sales approached 1.8 million units, representing a slight increase of 2.4 percent.

This clearly demonstrates the strength of our global business model, with sales performance in Europe and the US more than compensating the challenges in China.

Sales of all-electric vehicles exceeded 100,000 units for the sixth consecutive quarter.

Q3 revenues in the Automotive segment amounted to 28.5 billion euros, reflecting a slight increase of 2.4 percent year-on-year. Adjusted for currency translation effects, the increase was 6.4 percent.

Segment EBIT amounted to approximately 1.5 billion euros in Q3 and 5.1 billion euros from January to September.

The reported EBIT margin – including the negative impact of BBA PPA and tariffs – came in at 5.2 percent for the quarter and 5.9 percent as of September.

That brings me to my next slide, taking a detailed look at our operating result of the third quarter year-on-year.

Automotive EBIT increased by around 900 million euros compared to Q3 2024.

As anticipated at mid-year, changes in currencies negatively impacted EBIT by 500 million euros, while raw material positions remained neutral.

The net effect of volume, model mix and pricing resulted in a negative impact of 300 million euros in the third quarter, compared to the previous year.

Both volume and model mix provided a tailwind, while pricing was a headwind.

This is particularly evident in China, where we see price pressure across all segments.

Furthermore, since the end of June, Chinese banks have significantly reduced dealer commissions.

While this led to a certain increase in transaction prices, as expected, it could not offset the negative impact of the lower commission revenues for dealerships.

Consequently, we implemented dealer support measures in Q3 to strengthen dealer profitability and liquidity.

Ladies and Gentlemen,

In line with our planning, we will continue to decrease our operating costs in 2025 and beyond.

This trend is once again reflected in our figures for the third quarter.

Research and development expenses decreased by about 300 million euros compared to the prior-year quarter.

Group R&D expenditure totaled 5.9 billion euros as of September. This remains significantly below last year's level, despite extensive product initiatives and intensive preparations for the first models of the NEUE KLASSE.

The R&D ratio according to the German Commercial Code stood at 5.9 percent after nine months.

Selling and administrative expenses decreased by around 200 million euros compared to the previous year.

These nominal cost savings of 500 million euros more than offset the negative impact from volume, model mix and pricing.

Other Cost Changes provided a tailwind of around 1.2 billion euros compared to the third quarter of 2024.

This development results mainly from three areas:

On the one hand, warranty expenses were significantly lower year-on-year.

In Q3 2024, we fully recognized the necessary warranty provisions for the Integrated Braking System.

On the other hand, tariffs had a negative impact of around 1.75 percentage points on the Auto EBIT margin in Q3.

The majority of the improvement in other cost changes in Q3 results from the positive development of manufacturing costs and material costs.

Overall, we reduced costs by over 1 billion euros in the third quarter and by approximately 2 billion euros year-to-date through September.

In addition to EBIT, tariffs also affect free cashflow.

While refunds are recognized in EBIT, cash will rather be recognized in 2026 than in 2025.

This negatively affected free cashflow through September, and the timing effect alone will impact free cashflow for the full-year by a high three-digit million euros amount.

Free cash flow in the Automotive Segment totaled 343 million euros in the third quarter.

Earnings before tax amounted to 1.4 billion euros.

The net change in working capital contributed positively to free cashflow by around 300 million euros.

The negative net effect of capital expenditure and depreciation impacted the third quarter by 300 million euros.

The capex ratio was 5.2 percent in the third quarter and 4.4 percent for the first nine months.

Following the peak in 2024, capex will decrease for the full year 2025. The capex ratio is projected to remain below 6 percent.

Changes to provisions negatively impacted free cash flow in the third quarter by approximately 400 million euros.

This was primarily due to the consumption of warranty provisions.

The change in the position Other, amounting to around 600 million euros, includes income taxes paid.

After nine months, free cash flow in the Automotive segment stands at almost 2.7 billion euros.

For the full year, we now target a free cash flow of over 2.5 billion euros, compared to the original forecast of over 5 billion euros.

This is driven by two factors:

Lower-than-expected earnings for the full year

And tariff refunds that we expect to receive in 2026 instead of 2025

We remain committed to shareholder returns using both dividends and share buyback.

Despite the lower free cashflow outlook, we will maintain our dividend payout ratio of 30 to 40 percent and will continue our share buyback program as announced.

As a result, the anticipated shareholder returns for the financial year 2025 will exceed free cashflow.

Let’s now turn to our Financial Services segment.

Financial Services is a key component of our customer journey and an important part of our integrated value chain.

As a vital element of our financial operating model, the segment contributes consistently to our Group profit.

New business grew significantly during the third quarter, primarily driven by the changed competitive environment in China.

This contributed to a slight year-on-year increase of 1.9 percent in new leasing and financing contracts concluded with retail customers over the nine-months-period.

New business volume increased by 4.2 percent to 48.5 billion euros.

The penetration rate for lease and loan offerings rose by 4.1 percentage points to 46.4 percent.

Segment earnings amounted to more than 1.8 billion euros, a year-on-year decrease of 14.4 percent.

The decline is primarily attributable to the lower income from the resale of end-of-lease vehicles as well as a tax payment in the second quarter resulting from a revised operational tax assessment for prior years.

Resale income remains positive on a portfolio basis.

The credit loss ratio across the entire loan portfolio remained low at 0.26 percent.

In the Motorcycles Segment, deliveries increased solidly by 5.7 percent year-on-year.

EBIT for the second quarter totaled 60 million euros, resulting in an EBIT margin of 7.9 percent.

Let’s now turn to our outlook for the 2025 financial year.

Four weeks ago, we confirmed that the Auto EBIT margin will remain in the guided corridor of 5 to 7 percent – more specifically in the range of 5 to 6 percent.

We also confirmed that deliveries in the Automotive segment are expected to increase slightly.

At the same time, the BMW Group adjusted its guidance for the following two key performance indicators:

Group Profit before Tax, which we now anticipate to decrease slightly compared to 2024

Return on Capital Employed (RoCE) in the Automotive segment, which is now expected in a corridor between 8 and 10 percent

In the Motorcycles segment, deliveries are now expected to decrease slightly, whilst the EBIT margin range is confirmed between 5.5 and 7.5 percent.

In the Financial Services segment, we confirm a Return on Equity (RoE) in the range of 13 to 16 percent.

Ladies and Gentlemen,

We have invested early and significantly in the future of our company, in line with our long-term strategy.

Our technology clusters are ready – paving the way for the broad deployment of innovations across our complete product portfolio.

Our Gen6 battery technology will shortly hit the market and support profitability with cost savings of 40 to 50 percent for the battery pack.

After reaching their peak levels in 2024, we are reducing both capex and R&D, as planned.

We are also maintaining our consistent management of operational costs. This is reflected in our figures for the third quarter and through September, and it will continue to be visible going forward.

With our highly attractive products and the NEUE KLASSE, we have the right levers in place to continuously strengthen our global market position, today and in the future.

We believe that our 2025 profitability stands out in the current business environment, with a pre-tax profit decline only in the single-digit percentage range year-on-year.

And with our strong balance sheet as a solid foundation, we will deliver consistent returns for our stakeholders.

Thank you.

- Check against delivery –

Ladies and Gentlemen,

Good morning.

For the BMW Group, several key strengths have long formed the foundation of our strategic course: our global footprint, our technology-neutral approach, our premium multi-brand strategy and broad portfolio across all relevant customer segments, and our ability to identify the potential of new technologies and bring them to road in each major region. These strengths give us flexibility and make us resilient, and we are benefiting from them now.

As a global company with global brands, we are used to dealing with varied conditions and unpredictability on the ground in each market.

We recognize the current dynamics in the automotive industry: major transitions in innovation, operating with a global supply chain, a shifting geopolitical framework with trade impacts such as tariffs, as well as a rapidly evolving market in China – to name but a few.

We remain focused on our long-term trajectory, while using our flexibility to adapt to the changing dynamics and are tackling them head on. This is what has always set the BMW Group apart.

Our business remains on track and healthy. As Walter just shared, this is underscored by our Group EBT result over the first nine months – demonstrating the performance of the entire business including our sales development.

Despite the challenging market dynamics in China, our overall global sales posted year-on-year growth of 8.7% in the third quarter; excluding China, it was 12.2%. Through September, sales in Europe were up 8.6% compared to 2024, while sales in the United States grew by 9.5%. These strong results helped compensate for the development in China.

Electrified vehicles and M vehicles both drove global growth. With our technology-open approach and multiple premium brands, customers find products that fit their wide range of needs and tastes.

In the coming months, we will take this to the next level with the introduction of the NEUE KLASSE. Just two months ago at the IAA Mobility here in Munich, we unveiled the BMW iX3*, the first vehicle of our NEUE KLASSE. The response was tremendous – from visitors and fans from across the globe, media, analysts, and political stakeholders. A few weeks later we celebrated the official opening of our new plant in Debrecen, where production of the iX3 is underway.

We have started taking customer orders for the car, which have exceeded our expectations. Just looking at Europe, we see orders already extend several months into 2026 already. This confirms an exceptionally positive start for the vehicle.

The NEUE KLASSE is BMW at its best. And starting with the iX3, it will set new benchmarks: from its performance data and revolutionary digital interface to its sustainability approach.

The BMW iX3 offers a range of more than 800 kilometers in the WLTP cycle. Thanks to its ultra-fast charging capability, the peak charging power is up to 400 kilowatts. That means: in just 10 minutes, the iX3 can charge enough to drive more than 370 kilometers.

The fully immersive digital experience will bring UI / UX to a whole new level. With the BMW Panoramic iDrive, drivers can intuitively keep their eyes on the road while all necessary information is perfectly in view.

With the BMW iX3, we will also introduce a new generation of driver assistance systems. The BMW Group is the first car manufacturer in Germany to receive approval for assistance systems in accordance with UN Regulation for Driver Control Assistance Systems (DCAS).

The approval enables the BMW Group to offer the Motorway Assistant with Level 2 “hands-off” function in numerous other models and countries in the future. This also covers an extended range of functions. More innovative assistance functions for urban driving will follow.

In terms of sustainability, the iX3 is explicitly focused on conserving resources and reducing the model’s environmental footprint – throughout the supply chain, production, use phase and recycling. In line with the principles of design for circularity, the iX3 is made up of one-third secondary raw materials.

Moreover, Plant Debrecen is the first BMW Group car factory that operates and produces vehicles without using fossil fuels, such as oil and gas, under normal operating conditions.

Overall, the iX3 is a perfect example of our strategy of reducing CO₂ wherever we have leverage. This will help us reach our near-term target to reduce our carbon footprint by at least 40 million tonnes CO₂ by 2030. Since 2020, we have been fully committed to the Paris Climate Agreement, with a target of achieving net zero by 2050.

The next NEUE KLASSE model, which we teased at the IAA, is preparing for launch: the new BMW i3. With the eighth generation of the 3 Series, we will bring the NEUE KLASSE and its technology clusters into the core of the BMW brand. Production of the i3 will get underway at our main plant in Munich in the second half of next year. Other locations in our international production network will follow with production of 3 Series variants.

Throughout 2026, we will show how the NEUE KLASSE technologies will be integrated into further models, such as the 7 Series and the X5. By 2027, we will put 40 new models and model updates with NEUE KLASSE technology and design language on the road worldwide.

This all-new BMW generation will provide an enormous boost to our already broad and popular portfolio – with technology solutions tailored to customers in their markets.

This applies especially to China. The NEUE KLASSE products we will launch in China are developed together with our local engineering teams and Chinese partners – in the market, for the market. Our NEUE KLASSE architecture allows to integrate local tech stacks from leading Chinese tech players into our own ecosystem. This gives consumers access to innovations and features they are used to, including solutions from Alibaba Banma, DeepSeek, and Momenta.

With the NEUE KLASSE, we are again demonstrating our strength in mastering system complexity, integration and efficiency. We know what our customers want and identify trends in individual markets early. The result are products that perfectly integrate the best technologies – both in house and with partners – across regions to offer the best product substance to our customers.

What makes the NEUE KLASSE so unique, is that we are rolling out the technology clusters across the entire portfolio – regardless of the drivetrain.

Our technology-neutral approach continues to show its success and allows broad market access as consumer preferences shift. At the same time, we are making progress in decarbonization in the here and now. After nine months into 2025, Group sales of all-electric vehicles are up by 10%, resulting in a BEV share of 18%. PHEVs grew nearly 28% year-on-year, delivering an overall electrified share through September of 26.2% globally.

Europe showed particularly strong growth – with BEVs reaching over a quarter of total sales, while BEV and PHEV sales combined for an impressive 41% share. Europe will also be the primary driver of our BMW iX3 sales in 2026.

Thanks to this solid result, we are well on course to reach our CO₂ fleet target for the year, just as we have consistently done for the past several years. For us, it has long been clear that we would meet the targets for 2025 – and, importantly, without penalties, pooling, or averaging.

This success with our technology-neutral strategy also gives our voice weight in the ongoing discussion regarding the EU’s targets.

We have reached our climate targets by following market demand and customer needs and by continually optimizing all drivetrain variants.

It remains critical for Europe to revisit the targets for 2030 and 2035.

Setting an end date to a specific, successful technology will lead to a massive shrinking of the industry as a whole. It will harm European industry and also create dependencies that are unwise in the current geopolitical dynamic.

To achieve climate goals and create effective CO₂ regulations, we must take a comprehensive view – one that accounts for the full carbon footprint of the vehicle and its value chain, and that also values climate-neutral fuels such as HVO100. Such a holistic framework would reflect various market needs and uneven infrastructure development, while safeguarding Europe’s value chains, jobs, and industrial strengths. And – above all – it delivers genuine climate protection and real reductions in CO₂.

Companies should be free to deliver the solutions, taking customer demands and needs into account, while adequately investing in new paths and technologies to achieve the EU’s climate goals.

In this context, the BMW Group is very skeptical about the EU’s planned “Greening the Fleets” regulation, as it does not consider current market realities. Commercial fleets rely on high vehicle availability with high mileages. The currently inadequate charging and hydrogen refueling infrastructure will not be guaranteed in all member states by 2030 either. Further fleet mandates and additional regulations that exclude individual technologies are not necessary to achieve the CO₂ targets. Moreover, they hinder technological development and introduce harmful market distortions contrary to customer preferences. Here also, we advocate for a holistic and technology-neutral approach.

Ladies and Gentlemen,

We are tackling the challenges in global markets head on, leveraging our strengths and implementing our long-term strategy. We have made significant investments and have created the right operating framework to deliver. Our flexible, global network, our tech-open strategy, our focus on innovation and our ability to master technological complexity set us apart.

Over the coming months, we will deliver as promised. Starting with the iX3, we will rapidly deploy our ambitious strategy one vehicle at a time around the globe. We will continue to lead with product substance and solutions that meet our customers’ needs.

We therefore remain optimistic as we close out 2025 and move forward to 2026.

Thank you.

Munich. The BMW Group’s performance in the year to date has been characterised by robust global sales development, disciplined cost management and a consistent strategic framework.

The Automotive Segment EBIT margin remained within the full-year target range for both the first nine months and the third quarter – despite continuing geopolitical challenges and intensifying competition. Customer deliveries rose slightly year-to-to date at the end of September, while free cash flow in the Automotive Segment stood at € 2,688 million after nine months. On Wednesday, based on these results, the Munich premium manufacturer confirmed its adjusted financial full-year targets announced in October.

“In the third quarter, we once again proved that our business model is robust and resilient”, said Oliver Zipse, Chairman of the Board of Management of BMW AG. “We have all the right factors for continued success: a technology-neutral approach, exciting products, a strong global presence and outstanding innovation capabilities throughout the entire value chain. Thanks to our broad model and drive train portfolio, we were able to increase our global sales – with BMW M and our electrified vehicles as the main growth drivers. At the same time, we remain fully on track to meet Europe's ambitious CO₂ targets for 2025 – without relying on flexibility mechanisms or pooling. This demonstrates that our technology-neutral approach is working and delivering strong results.”

Growth in electrified vehicles and M models

Year-on-year, the BMW Group achieved a slight +2.4% increase in deliveries, reaching a total of 1,795,734 vehicles in the YTD September (2024: 1,754,157vehicles). In the third quarter, the premium manufacturer delivered 588,140 BMW, MINI and Rolls-Royce vehicles to customers (2024: 540,881 vehicles/+8.7%).

The success of the BMW Group's technology-neutral strategy was particularly evident at both ends of the drive train line-up: In the first nine months, the strongest growth came from BMW M models (+7.9%) and from electrified vehicles (+15%). In the year to the end of September, electrified models accounted for 26.2% of total sales (2024: 23.3%), with BEVs representing 18.0% (2024: 16.8%).

In Europe, electrified vehicles gained even higher shares: they made up no less than 40.9% (301,947 units) of all sales while fully-electric vehicles comprised a quarter during the same period (189,269 units; 25,5%).

The BMW Group expects further positive growth momentum in 2026 from the all-new BMW iX3*, the first model of the Neue Klasse.

“The response to the BMW iX3 has been extremely positive: In Europe, new orders significantly exceed our expectations, confirming the strong customer interest,” said CEO Zipse. “With the Neue Klasse, we are making a major leap forward – in technology, driving experience and design. Our entire product line-up will benefit from these innovations within a short timeframe: Between now and 2027, we will bring 40 new and updated models to market – across all segments and drive train variants. Next year, we will already celebrate the next premiere, with the BMW i3, as we electrify the heart of BMW.”

During the nine-month period, the BMW Group benefited from its globally balanced footprint, which helps the company offset differences in sales performance across key regions worldwide. Excluding Chinese sales, the BMW Group brands achieved growth of +8.2%, with solid increases in the key regions of Europe (+8.6%) and the Americas (+9.5%). 

In the third quarter, the BMW Group posted revenues of € 32,314 million (Q3 2024: € 32,406 million/-0.3%, adjusted for currency translation effects +3.4%). Year-to-date at the end of September, revenues were lower than the previous year, at € 99,999 million (2024: € 105,964/-5.6%; adjusted for currency translation effects -3.9%).

Significantly lower R&D spending and capital expenditure

As previously announced, the BMW Group has transitioned from last year's record levels of future investment, which were required for electrification and digitalisation of the portfolio across all model series, as well as for development of the Neue Klasse.

Expenditure for research and development was down significantly in the first nine months, at € 5,941 million (2024: € 6,642 million/-10.6%; Q3: € 1,921 million;Q3 2024: € 2,473 million/-22.3%) – despite the ongoing product offensive and ramped-up preparations for the first models of the Neue Klasse. The R&D ratio decreased to 5.9% in September MTD as well as YTD (2024: 6.3%/-0.4 percentage points; in Q3 2024: 7,6%).

As planned, capital expenditure was also significantly lower, at € 4,410 million for the nine-month period and € 1,674 million for the third quarter (2024: € 5,641 million/-21,8%; Q3 2024: € 2,185 million/-23,4%). The capex ratio stood at 4.4% for the year to the end of September and 5.2% for the third quarter (2024: 5.3%; Q3 2024: 6.7%).

A capex ratio of less than 6% is forecast for the full year, moving closer to the company’s long-term target range of below 5%, as planned.

The BMW Group also achieved a moderate reduction in sales and administrative expenses, in line with forecasts, bringing costs down to € 6,077 million for the year to the end of September (2024: € 6,587 million/-7.7%; in Q3: € 1,995 million; Q3 2024: € 2,188 million/-8.8%).

“As previously announced, this expenditure was lower than last year in every quarter. We are reaping the benefits of having invested in the future early, with the peak now already behind us. In the fourth quarter, we expect further cost reductions, as well as lower research and development spending and capital expenditure. We are systematically managing costs with a measured approach, aiming to continue delivering captivating, innovative premium vehicles – and being consistently profitable,” said Walter Mertl, member of the Board of Management responsible for Finance.

Group pre-tax earnings exceed € 8.0 billion

Group earnings before tax (EBT) totalled € 8,056 million for the first nine months (2024: € 8,861 million/-9.1%)and € 2,329 million for the third quarter (Q3 2024: € 838 million).

The Group EBT margin came in at 8.1% for the YTD September and 7.2% for the third quarter (2024: 8.4%/-0.3 percentage points; Q3 2024: 2.6%/+4.6% percentage points). Group net profit amounted to € 5,712 million in the year to the end of September (2024: € 6,132 million/-6.8%; in Q3: € 1,697 million; Q3 2024: € 476 million).

In the first nine months, the Automotive Segment generated revenues of € 87,164 million (2024: € 90,863 million/-4.1%, adjusted for currency translation effects -2.2%; in Q3: € 28,510 million; Q3 2024: € 27,854 million/+2.4%, adjusted for currency translation effects +6.4%). Headwinds resulted from intensified global competition and financial measures aimed at supporting and strengthening dealer profitability in the challenging China market. Volume growth predominantly takes place there in the price segment below RMB 150,000 (~€ 18,000) and the growing product offer of local manufacturers leads to fierce competition across the entire market.

Additionally, negative currency translation effects, particularly from the US dollar, South Korean won and Chinese renminbi, have dampened income.

The segment’s earnings before financial result (EBIT) totalled € 5,120 million for the first nine months (2024: € 6,028 million/-15.1%; Q3: € 1,494 million; Q32024: € 634 million/+135.6%). In the prior-year quarter, sales and revenues were affected by technical campaigns related to the Integrated Brake System (IBS).

The EBIT margin for the YTD September came in at 5.9% (2024: 6.6%/-0.7 percentage points; in Q3: 5.2%; Q3 2024: 2.3%/+2.9 percentage points).

Excluding depreciation resulting from the purchase price allocation of BBA of around 1.1 percentage points, the EBIT margin was 7.0% for the year to the end of September and 6.3% for the third quarter. Expenses resulting from higher import tariffs in the United States and the European Union further weighed on these margins: amounting to approx. 1.5 percentage points in the first nine months and around 1.75 percentage points in the third quarter.

Pre-tax earnings and lower capital expenditure boost free cash flow

Free cash flow improved year-on-year, bolstered by higher cash inflows from operating activities, significantly lower investment activity (- € 1.4 billion) and reduced inventory levels, reaching € 2,688 million at the end of the nine-month period. In the third quarter, free cash flow totalled € 343 million (2024: - € 191 million; Q3 2024: - € 2,480 million). For the full year, the segment's free cash flow is now expected to be > € 2.5 billion (previously: > € 5 billion).

The BMW Group is implementing its share buyback programme with continuity and consistency: Following the renewed authorisation of the Annual General Meeting on 14 May 2025, the Board of Management has approved a third share buyback programme, with a volume of up to € 2 billion, to be completed by 30 April 2027. Acquisition of the first tranche of € 750 million began in May 2025 and will be completed no later than 8 December 2025.

As of 30 September 2025, BMW AG held more than 6.2 million treasury shares from the third buyback programme. Based on the authorisation granted at the Annual General Meeting of 14 May 2025, as of 30 September 2025, BMW AG had purchased shares equivalent to 1.01% of the share capital.

“With the third share buyback programme since 2022, the BMW Group is consistently implementing its shareholder return strategy. We remain committed to our shareholders and stand by the announcements we have made. Our employee share programme will also continue,” said CFO Mertl. “At the same time, we are maintaining our payout ratio of 30-40% of net income attributable to BMW AG shareholders.” 

Financial Services Segment sees continued new business growth

In the Financial Services Segment, the number of new financing and leasing contracts concluded in the first nine months of the year rose slightly to 1,275,607 (2024: 1,252,251 contracts/+1.9%). This significant growth in new business in the third quarter (450,935 contracts/+12.1%) was mainly due to a shift in the Chinese competitive landscape, where local banks have substantially reduced their commission rates for brokering financial and insurance products to retail customers.

The segment's volume of new business also increased slightly to € 48,500 million after nine months (2024: € 46,531 million/+4.2%). This reflects growth in new contracts, with a higher financing amount per contract. The penetration rate increased to 46.4% (2024: 42.3%/+4.1 percentage points).

For the year to the end of September, the segment reported pre-tax earnings (EBT) of € 1,836 million (2024: € 2,146 million/-14.4%). This dampening effect was mainly due to lower income from the resale of end-of-lease vehicles, with the number of returned vehicles below the previous year's level. For the nine-month period, the credit loss ratio was in line with the previous year, at 0.26%, across the entire finance portfolio (2024: 0.26%).

BMW Motorrad posts higher margin in YTD September

With 159,156 deliveries in the year to the end of September, BMW Motorrad achieved an EBIT margin of 10.8% (2024: 9.5%/+1.3 percentage points).

Full-year guidance for 2025

On 7 October, the BMW Group adjusted its annual guidance for the following KPIs:

• Group earnings before tax** are projected to decline slightly (previously: on a par with the previous year).
• RoCE in the Automotive Segment is expected in the range of 8-10% (previously: 9% to 13%).

Despite lower volume expectations for the Chinese market in the fourth quarter, the BMW Group is still targeting slight sales growth for the full year.

In the Automotive Segment, the EBIT margin for 2025 is still forecast to be within the guided target range of 5-7%, more specifically in the range of 5% to 6% in light of the earnings headwinds mentioned previously.

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

In the Motorcycles Segment, an EBIT margin within the range of 5.5-7.5%is forecast as before, with a RoCE of 13-17%. The segment is now anticipating a slight decrease in customer deliveries (previously: slight increase).

The BMW Group’s actual business performance may deviate from the expectations outlined above – for example, due to changes in political and macroeconomic conditions. Risks to earnings could arise, among other factors, from changes in tariff policy or Chinese export restrictions affecting rare earths, battery cell production or semiconductors. At the same time, opportunities could result from a reduction in existing tariffs or a shorter period of validity. The company continues to monitor macroeconomic developments very closely.

The BMW Group will continue to benefit from its young and attractive product line-up and from its proven technology-neutral approach. At the same time, thanks to its flexibility, globally balanced footprint and strong financial position, the company is able to adapt to dynamic market conditions, while consistently pursuing long-term success.

**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.

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

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 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 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

Las Vegas. Following its successful appearance at ApeFest 2024 in Lisbon, BMW was also in attendance at this year’s edition of the Web3 tech community event. This latest chapter in its collaboration with the Bored Ape Yacht Club (BAYC) community strengthened the connection between digital culture, technology and lifestyle. ApeFest 2025 took place on 24 October at first-time venue Las Vegas, and included a close-quarters tie-up with the ComplexCon event (25 – 26 October) fusing street culture, fashion, art and technology.

“We’re delighted to be collaborating with the Bored Ape Yacht Club (BAYC). The partnership gives us the opportunity to drive forward the digital transformation ‘in BMW style’ and to further expand our Web3 knowledge. And this, in turn, will create a playground for innovative brand and product experiences from BMW,” says Ulrike von Mirbach, Vice President, BMW Customer Formats and Brand Experiences.

ApeFest is an annual event hosted by the Bored Ape Yacht Club (BAYC). It primarily attracts owners of digital goods known as NFTs, which are based on the cutting-edge blockchain technology also playing an important role at BMW. The BAYC is one of the most renowned NFT collections held by US firm Yuga Labs and comprises a total of 10,000 unique digital collector's items depicting stylized ape motifs. ApeFest is aimed at a highly tech-savvy community of people fuelled by extraordinary creative energy and an insatiable thirst for innovation – making this an ideal match-up for the BMW brand. The community gathers at ApeFest to connect and shape the future of Web3 technology, to gain access to exclusive digital content and experiences, and to develop new business ideas.

BMW lined up as a partner of the event once again this year – and shone its Las Vegas spotlight on three key themes:

In-car gaming becomes part of the driving experience.
BMW, in collaboration with AirConsole and Bandai Namco, has developed the exclusive PAC-MAN Championship Edition* game for its vehicles. In this unique iteration, the iconic PAC-MAN sets out to collect cars such as a BMW M Baby Racer and a BMW XM Label, along with items from the BMW M Lifestyle Collection.

The game was premiered at ApeFest as an AirConsole experience in a BMW XM Label. With PAC-MAN celebrating the 45th anniversary of its classic debut, this ranks as a headline collaboration. The BMW XM Label, renowned for its blend of performance, extrovert character and technology, effectively becomes the stage for this legendary game. Following its launch at ApeFest, the PAC-MAN Championship Edition* will be made available across all suitably specified BMW models.

This roll-out allows players to fully immerse themselves in the world of PAC-MAN directly in their vehicle, highlighting a tangible link between vehicle technology, entertainment and digital innovation.

BMW already offers a range of games with AirConsole, providing a premium in-car entertainment experience. A key feature here is the use of smartphones as controllers; players simply scan a QR code on the vehicle's display to connect. The system creates a unique and seamless gaming experience, even supporting a multiplayer mode that allows up to seven people to play together, turning the car into a mobile arcade for the whole family.

*PAC-MAN™ Championship Edition & ©Bandai Namco Entertainment Inc.

BMW Lifestyle Collection takes a turn for the digital.
Another focal point at ApeFest was the presentation of the new BMW M Collection, which has been customised by the company’s collaboration partner and carries Bored Ape Bimmer Club (BABC) branding.

The Collection was revealed as part of a live show fronted by animated 3D character “Max”, BMW’s very own digital ape. With a presentation big on charm and innovation, Max acted as a model bridging real-world fashion and digital experience.

QR codes transported visitors directly to the Collection’s product pages. The interplay of physical and digital elements created a new form of brand showcase – open, authentic and technologically on point.

The art installation: design as a shared experience.
BMW also made a statement with a live performance by the artist Pauser (@Pausrr), who turned 24 black BMW suitcases into large-format graffiti art. Each of the suitcases was designed individually and personalised with e.g. initials and personal symbols, making it a one-off collector’s item that was then sold.

The installation embodied the themes of identity, mobility and design. And the standalone individual pieces were arranged into a complex artwork that underscored once again the community-led character of the initiative.

Performance meets digital culture.
BMW was also represented at the event by an exclusive VIP fleet of vehicles including the BMW XM Label and BMW X7. Another star of ApeFest was a strikingly styled BMW M3 from the BMW Performance Center USA (Thermal), which served as a content studio for creators, media and guests. The high-performance model became a hotspot for video, photos and interviews focusing on design, technology and lifestyle. This was a place where product experiences and digital communication overlapped.

The BMW presence in Las Vegas was designed as an open-ended brand platform – with zones for gaming, fashion, art and connecting. The result was a space emphasising interaction and the sharing of ideas over traditional product presentations. Classic cars from the regional BMW community – members from southern California showed off their pride and joy at AREA15 – provided a bridge between the past and the future.

By hooking up with ApeFest once again, BMW has strengthened its presence in a space that mixes technological and cultural trends – and provided another demonstration of how mobility, lifestyle and digital culture can engage and connect with one another.

Paris. Du 23 au 26 octobre 2025, BMW est fier d’être à nouveau partenaire officiel d’Art Basel Paris, rendez-vous majeur de l’art contemporain en France au Grand Palais.
Présent à Bâle, Miami Beach, Hong Kong et Paris, BMW affirme depuis plus de deux décennies sa volonté d’unir création artistique et innovation technique, en soutenant des artistes qui interrogent les mutations esthétiques et culturelles de notre époque.

BMW met à disposition des invités VIP de la foire une flotte exclusive de véhicules électrifiés, pour une mobilité plus durable au cœur de la capitale française.

Alvaro Barrington et la BMW iX5 Hydrogen : une œuvre en mouvement à Bâle et son manifeste à l’échelle réduite à Paris.

Pour célébrer les 50 ans des BMW Art Cars, BMW et le curateur Hans Ulrich Obrist ont invité l’artiste Alvaro Barrington à transformer la flotte BMW iX5 Hydrogen en une œuvre d’art mobile pour Art Basel 2025 à Bâle.
Intitulée “Simply, 2025”, cette création explore la relation entre technologie, durabilité et culture, en reconnaissance à la mobilité hydrogène et à la réinvention permanente du design automobile.

À Art Basel Paris, cette démarche prend une nouvelle forme avec la présentation d’une miniature en édition limitée BMW iX5 Hydrogen reprenant la livrée imaginée par Barrington.

Réalisée à l’échelle 1:18, la miniature “Simply, 2025” traduit la vision d’Alvaro Barrington en un objet d’art à part entière. Cette édition limitée s’inscrit dans la lignée des miniatures d’artistes telles que la BMW i7 de Heemin Chung et Alvaro Barrington (Frieze Seoul 2024) ou la BMW iX5 Hydrogen d’Es Devlin (Art Basel 2024).
Chaque miniature témoigne de la rencontre entre savoir-faire industriel et création artistique : deux disciplines unies par la recherche d’excellence et de sens.

Les miniatures BMW : 50 ans d’histoire artistique à l’échelle 1:18

Depuis la première BMW Art Car conçue par Alexander Calder en 1975, le constructeur bavarois cultive un dialogue unique entre art et ingénierie. En parallèle de ces œuvres roulantes, BMW a développé à partir des années 2000 une collection de miniatures d’art à l’échelle 1:18.

Ces œuvres miniaturisées reproduisent des modèles emblématiques tels que la BMW 3.0 CSL de Roy Lichtenstein, la BMW M1 d’Andy Warhol ou encore la BMW 850 CSi de David Hockney.

Ces éditions limitées prolongent l’esprit des BMW Art Cars dans un format intime, offrant au public et aux collectionneurs un accès supplémentaire à l’histoire culturelle de la marque.

BMW, moteur culturel depuis plus de 50 ans

Depuis 1975, BMW Group Cultural Engagement soutient plus de cent projets à travers le monde, dans les domaines de l’art contemporain, de la musique, du design et de l’architecture.
De Frieze à Art Basel, en passant par Paris Photo, la marque allemande affirme une conviction forte : innovation technique et créativité artistique naissent d’un même esprit d’expérimentation et d’audace.

À travers des programmes comme les BMW ART MAKERS en France ou le BMW Art Car World Tour, BMW continue de placer la culture au cœur de sa démarche, entre patrimoine, durabilité et invention.

Paris – En 2026, le salon Rétromobile célèbre un demi-siècle d’existence et marque l’événement avec une exposition d’envergure internationale. Pour son 50^ème anniversaire, le plus prestigieux salon dédié aux véhicules de collection accueillera le BMW Art Car World Tour, et présentera pour la première fois réunies en France les 7 BMW Art Cars ayant participé aux légendaires 24 Heures du Mans.

Quand l’art rencontre l’endurance

Né en 1975 d’une intuition visionnaire d’Hervé Poulain, commissaire-priseur et pilote passionné, le projet des BMW Art Cars a changé à jamais la perception de l’automobile de compétition. L’idée était simple mais révolutionnaire : confier la carrosserie d’une voiture de course à un artiste de renommée mondiale, pour faire dialoguer deux univers a priori éloignés, l’art et le sport automobile.

La première réalisation fut confiée à Alexander Calder, dont la BMW 3.0 CSL haute en couleur marqua le début d’une saga unique. Depuis, des artistes majeurs tels que Frank Stella, Roy Lichtenstein, Andy Warhol, Jenny Holzer, Jeff Koons ou plus récemment Julie Mehretu ont apporté leur vision, transformant des bolides taillés pour l’endurance en véritables chefs-d’œuvre contemporains.

Une rétrospective inédite à Rétromobile 2026

Au cœur du pavillon 7.2, les visiteurs découvriront une scénographie pensée comme un « garage de légende », où seront exposées ces sept œuvres roulantes :

• BMW 3.0 CSL (1975) d’Alexander Calder. Première BMW Art Car, peinte de larges aplats rouges, jaunes et bleus. Présentée au Mans sans publicité, elle séduit immédiatement pilotes et public, marquant le début de la saga. 
• BMW 3.0 CSL (1976) de Frank Stella. L’artiste américain habille le coupé de motifs graphiques et conceptuels inspirés de plans techniques. Cette création illustre la puissance de l’expérimentation artistique en compétition. 
• BMW 320i (1977) de Roy Lichtenstein. Recouverte de lignes jaunes, points bleus et bulles vertes symbolisant le jour et la nuit, elle célèbre le rythme d’une course d’endurance. Présentée à Beaubourg, elle termine 9ᵉ au général et remporte sa catégorie.
• BMW M1 (1979) d’Andy Warhol. Célèbre pour ses sérigraphies et portraits, Warhol devait initialement décorer une BMW 320i, mais le projet fut transféré sur la nouvelle M1. L’artiste propose alors une peinture aux jets et coulures, qu’il réalise lui-même à Munich en quelques jours. Avec ses flaques de peintures dégoulinantes, la M1 incarne le Bad Painting et termine 6ᵉ lors d’une course marquée par la pluie. 
• BMW V12 LMR (1999) de Jenny Holzer. L’artiste conceptuelle inscrit des phrases percutantes en lettres bleutées sur la carrosserie blanche du prototype.
• BMW M3 GT2 (2010) signée Jeff Koons. Koons recouvre la carrosserie du n°79 de bandes multicolores convergeant vers la proue, évoquant la vitesse et l’énergie.
• BMW M Hybrid V8 (2024) de Julie Mehretu. Inspirée d’une de ses peintures grand format, cette véritable fresque roulante transpose formes abstraites et palette joyeuse, incluant un rouge fluo éclatant.

Cette réunion exceptionnelle, une première mondiale, permettra au public de revivre 50 ans d’un dialogue unique entre l’art et l’automobile, à travers l’un des circuits les plus mythiques du monde : Le Mans.

Rétromobile, 50 ans d’histoire et de passion

Depuis 1976, Rétromobile est le lieu où se content les plus belles pages de l’histoire automobile. Pour son 50^ème anniversaire, le salon réaffirme sa vocation : célébrer la passion des collectionneurs, l’innovation des constructeurs, et la place unique qu’occupent les voitures dans notre culture.

Avec l’exposition des BMW Art Cars du Mans, Rétromobile 2026 proposera aux visiteurs un voyage inédit, où se croisent les plus grands artistes contemporains et les légendes du sport automobile. Une expérience immersive qui s’annonce comme l’un des moments forts de cette édition anniversaire.

Rétromobile 2026

DU 28 JANVIER AU 1^er FÉVRIER 2026 - Paris Expo Porte de Versailles

Lyon. Après une présentation remarquée à l’IAA Mobility de Munich, la nouvelle BMW iX3 poursuit son tour d’Europe et fera sa première apparition sur le territoire français à l’occasion du Salon Automobile de Lyon, du 24 au 28 septembre 2025 à Eurexpo (stand BMW dans le hall 4).

À Lyon, le public découvrira la nouvelle BMW iX3, première représentante de la famille Neue Klasse, qui incarne les dernières avancées de BMW en matière de design, de technologie comme de durabilité, et ouvre une nouvelle ère pour l’ensemble de la gamme. Les visiteurs pourront également échanger avec les experts de la marque et, s’ils le souhaitent, passer commande directement sur le stand BMW. Depuis le 5 septembre, les commandes sont en effet ouvertes dans l’ensemble du réseau BMW et la voiture peut être configurée sur www.BMW.fr

À l’issue du salon lyonnais, la nouvelle BMW iX3 sera présentée dans le cadre prestigieux des Voiles de Saint-Tropez (27 septembre – 5 octobre 2025), dont BMW France est une nouvelle fois partenaire officiel. Véritable rendez-vous iconique mêlant tradition et innovation, l’événement réunit chaque année les plus beaux voiliers du monde autour de régates spectaculaires dans la baie de Saint-Tropez. Le public pourra y découvrir la nouvelle BMW iX3 ainsi que la spectaculaire BMW Concept Speedtop, dévoilée au dernier Concorso d’Eleganza de la Villa d’Este.

Une nouvelle ère pour BMW.

La BMW iX3 inaugure la lignée des Neue Klasse, ouvrant une nouvelle étape pour la marque avec un Sport Activity Vehicle 100 % électrique, au design entièrement repensé et doté des technologies les plus avancées :

• Jusqu’à 805 km d’autonomie grâce à la 6e génération de BMW eDrive
• Recharge ultra-rapide jusqu’à 400 kW, permettant de récupérer 372 km en 10 minutes
• BMW Heart of Joy, nouvelle unité de commande qui optimise en temps réel la dynamique de conduite et l’interaction homme-machine
• BMW Panoramic iDrive, interface digitale immersive de 1,10 m projetée sur l’ensemble du pare-brise
• Une conception durable réduisant de plus de 30 % l’empreinte carbone sur l’ensemble du cycle de vie
• Première voiture produite dans la nouvelle usine européenne de Debrecen (Hongrie), la BMW iX3 pourra être livrée en France dès mars 2026. Elle constitue le premier modèle d’une lignée ambitieuse : d’ici 2027, les technologies de la Neue Klasse équiperont jusqu’à 40 nouveaux modèles BMW, marquant une étape clé dans la transformation du groupe vers l’électrification, la digitalisation et la circularité.

Paris – A l’occasion de cette nouvelle édition de Paris Photo au Grand Palais, BMW France révèle le deuxième volet de l’exposition « Traversée du fragment manquant », de l’artiste Raphaëlle Peria et de la curatrice Fanny Robin, duo lauréat du programme de mécénat BMW ART MAKERS.

Un partenariat porté par une vision commune pour l'avenir de la culture.

Depuis plus de 50 ans, BMW affirme son engagement pérenne en faveur de la culture, convaincu que les artistes sont des éclaireurs, capables d’anticiper et de révéler les grands enjeux de leur époque. Soutenir la création, c’est accompagner celles et ceux qui dessinent les perspectives de demain.

Depuis 23 ans, ce rôle s’exprime notamment à travers ce partenariat avec Paris Photo. En soutenant la scène photographique et artistique internationale, BMW contribue à donner une visibilité décisive aux talents émergents. Nombre d’artistes accompagnés ont depuis trouvé une reconnaissance majeure, confirmant la force et la justesse de cet engagement.

Ce dialogue constant entre innovation artistique, société et entreprise témoigne d’une volonté commune : inscrire la culture dans le temps long et la rendre accessible à tous, aujourd’hui comme pour les générations futures.

« Ensemble, nous faisons rayonner la culture aujourd’hui et pour les générations futures, en valorisant sa pérennité dans un monde où tout s’accélère », souligne Vincent SALIMON, président du directoire de BMW Group France.

« Traversée du fragment manquant » se réinvente pour Paris Photo.

 « Les arbres sont des êtres vivants qui sont porteurs de notre mémoire, ils sont les gardiens de nos secrets. » Raphaëlle Peria.

Le deuxième volet de l’exposition « Traversée du fragment manquant », créée par le duo lauréat du programme BMW ART MAKERS, est présenté en novembre sous la coupole du Grand Palais à Paris. Dévoilée cet été pour la première fois lors de la 56ᵉ édition des Rencontres d’Arles, au Cloître Saint-Trophime, l’exposition se réinvente pour Paris Photo et s’enrichit d’une dizaine d’œuvres inédites. Pour l’occasion, la scénographie a été entièrement repensée et conçue spécialement pour sublimer ce nouveau chapitre.

Fanny Robin, curatrice présente ainsi le projet « Embarquer au cœur de l’exposition Traversée du fragment manquant, c’est remonter le fil de l’eau et du temps. À travers ce projet, Raphaëlle Peria nous livre une archéologie intime de l’image, où le souvenir personnel dialogue avec l’universel. 

Après une première présentation aux Rencontres de la photographie d’Arles, ce second volet de l’exposition conçu pour Paris Photo se révèle dans une traversée toujours plus immersive du paysage. Avec une scénographie renouvelée, pensée comme un espace de résonance qui dialogue en toute transparence avec la verrière du Grand Palais, l’exposition prend une forme résolument différente. Une série d’œuvres inédites, produites pour l’occasion, trouvent un écho tout en subtilité avec l’architecture du lieu.

Point culminant de cette installation, un Wall Paper cuivré aux reflets ardents, enveloppe l’espace comme une fresque-palimpseste, brouillant ainsi les repères entre images d’archives et représentations d'un environnement présent.  

Par cette approche revisitée, ce sont de nouvelles strates sensibles qui se déploient dans l’espace et qui témoignent de la singularité du regard et du geste unique de Raphaëlle Peria. 

C'est avec la découverte d’un album photo exhumé, vestige d’un premier voyage d’enfance à bord d’une péniche, que l’artiste amorce ce nouveau projet de création. Des archives familiales, longtemps ensevelies, qui ravivent alors une mémoire fragmentaire et deviennent la matrice d’une exploration où les souvenirs se confrontent à l’évolution du paysage. Trente ans plus tard, Raphaëlle Peria retourne sur les lieux autrefois traversés. Elle y découvre une nature en péril : les platanes bordant le canal du Midi, rongés de l’intérieur par le chancre coloré, incarnent désormais une lente disparition. Face à cette érosion silencieuse, l'artiste gratte inlassablement la surface des images, révélant par soustraction l’empreinte du temps qui passe. En tout transparence, elle traduit la fragilité du vivant à travers la matière même de la photographie ».

Le programme BMW ART MAKERS réunit et soutient un artiste visuel émergent et un curateur pour la création d’un projet artistique commun.

Le duo lauréat composé d’un artiste et d’un commissaire reçoit un financement de 33 000 euros de bourse et de budget de recherche et de production d’œuvres. Le projet est présenté chaque année aux Rencontres d'Arles puis à Paris Photo, dont BMW est partenaire officiel.

Informations pratiques

Exposition « Traversée du fragment manquant »

de Raphaëlle Peria et Fanny Robin

Paris Photo - Stand C01 Grand Palais

du 13 au 16 novembre 2025

- Check against delivery –

Statement 

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

Jochen Goller, Member of the Board of Management of BMW AG, Customer, Brands, Sales

Adrian van Hooydonk, Head of BMW Group Design

Markus Flasch, CEO BMW Motorrad

IAA Mobility 2025 Summit Press Conference

Munich , 8 September 2025

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

Ladies and gentlemen,

This year’s IAA MOBILITY impressively demonstrates that the desire for individual mobility has never been stronger. Today, more than ever, global success depends on the ability to master new technologies and to anticipate what customers around the world want.

It also takes courage to make bold leaps. A pioneering spirit – to explore new paths. Confidence in your own abilities. And resilience – to stay the course, even in the face of headwinds. And on top it requires a team of nearly 160,000 employees who are passionate about shaping the future of mobility. Then evolution becomes revolution. Vision becomes reality.

You’ll remember that, back in 2021, I promised we would lead BMW into a new era. With the NEUE KLASSE. Today, we deliver on that promise.

Early this decade, we recognized an opportunity; a chance to set new benchmarks across all relevant technologies in the car. It was an opportunity that only comes once in a lifetime. The perfect BMW moment.

The NEUE KLASSE is much more than just a new vehicle. It marks a completely new model generation. A massive leap that redefines the entire brand.

The new BMW iX3 will be followed by more than 40 new or updated BMW models by 2027. Each will have the NEUE KLASSE genes – regardless of the drivetrain. More than any other project, the NEUE KLASSE represents the innovative spirit of all our associates. Across all our brands.

On behalf of the entire company, it is my great honor to unveil:

The new BMW iX3!

Ladies and gentlemen,

I’ve been with the BMW Group for 34 years. I’ve witnessed many world premieres and bold technological innovations. But a vehicle like this is something you experience only once. All of us at the BMW Group have been working tirelessly towards this moment.

With the NEUE KLASSE, we’ve created an unprecedented interplay of multiple, ground-breaking technologies. Now, we are taking Sheer Driving Pleasure to a whole new level. In short: The NEUE KLASSE is more BMW than ever.

And the next highlight is already waiting in the wings. Early next year, we will unveil the second model of the NEUE KLASSE – a sporty sedan at the very core of the brand:

the new all-electric BMW i3.

Ladies and gentlemen,

From the drivetrain to battery technology and driving dynamics, from the operating system to the digital user experience: We’ve elevated every single aspect to the next level for the NEUE KLASSE.

With this new design language, we’ve even skipped a whole generation. And there's no one better to explain how our customers will experience this with all their senses than Adrian van Hooydonk.

Speech Adrian van Hooydonk, Head of BMW Group Design

Welcome ladies and gentlemen!

Yes, the big moment has finally come. As Oliver mentioned, with the Neue Klasse we are taking very big steps in technology. These bigger steps in technology can only become meaningful hand in hand with big steps in design. The BMW iX3 has a much bigger range helped by a very clean shape with excellent aerodynamics.

In the interior you will find a new display concept that allowed us to clean-up the dashboard and completely redefine the driving experience.

But let‘s look at the exterior design first: We have typical solid BMW SAV proportions with a lot of presence and emphasis on all four wheels. The surfaces are very clean with only a few precise lines. The front-end shows a new interpretation of the BMW typical face in which we replace chrome with light. Vertically oriented kidneys match the more upright overall appearance of our SAV. This new light signature is part of the daytime running light and it will make the new BMW iX3 very recognizable by day and by night. Overall, the car has a very solid stance and strong shoulders and, in the rear, again a new light signature that emphasizes the width of the car.

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

iDrive system, a whole new driving experience that you will find in all our future BMW models from now on!

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

So, our new Operating System X focuses on the best driving experience but will also allow you a much higher level of personalization making your new BMW truly yours! Overall, the new digital aspects of our cars will make them more intelligent and easier to use.

At the same time, this has allowed us to design much cleaner and warmer interiors, creating very personal living environments on four wheels. The interior trim “Digital White” is spacious and modern.

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

Thank you very much!

Speech Jochen Goller, Member of the Board of Management of BMW AG, Customer, Brands, Sales

Thank you, Adrian!

Ladies and gentlemen,

Let’s now move on to MINI, which celebrated its very own game-changing moment already last year with the introduction of a completely new product range.

The “New MINI Family”, covering the most desirable and broad product portfolio in the brand's history, now features four very distinct models - Convertible, Cooper, Aceman and Countryman. And regarding the drivetrain, MINI customers of course have the choice between all-electric or highly efficient combustion engines.

Clever use of space, wheels at the corner, go-cart feeling, combined with true Britishness and maximum individuality. That's how MINI became the world's most successful premium small car brand. Driving a MINI has always been a confident personal statement. In this way, MINI has inspired numerous celebrities and designers throughout its 66-years long history.

And today, we are writing the next exciting chapter in this tradition. Partnering with a brand that stands for customization and thinking out of the box like few others. I am talking about Deus Ex Machina!

The outcome of this inspiring and exceptional partnership are two stunning John Cooper Works models – fraternal twins with very different styles, yet united by a shared enthusiasm.

I brought one of them with me today, so, let’s have a look.

Ladies and gentlemen,

“The Skeg.” A distinctive and contemporary re-interpretation of MINI's racing history. Pure. Bold. Innovative. This artwork on four wheels is based on the MINI John Cooper Works Electric. Inspired by the world of surfing, it offers pure electric freedom to enjoy the MINI go-cart feeling on coastal roads.

His twin – “The Machina” – is forged on the racetrack. Lean, fast and powered by a combustion engine, it embodies raw racing technology and authentic functionality.

Together, they stand for individual lifestyle and maximum driving excitement, regardless of the respective drive train.

Similar to what our customers can experience with the New MINI Family, which is winning over new and old customers worldwide.

That is especially true for our fully electric models. Today, already one in three MINIs has an electric heart. And the trend continues to rise.

Ladies and gentlemen,

Collaborations like the one with Deus Ex Machina are just one example for unique customization – the way only MINI can do.

And now, ladies and gentlemen, to something completely different.

Speech Markus Flasch, CEO BMW Motorrad

Ladies and gentlemen,

It is a great pleasure for me to present the BMW Motorrad Vision CE. It offers the most spectacular insight into our vision of future of urban

e-mobility that we have ever developed. For me, the Vision CE is a clear proof to our ambition to shape the future of emission-free mobility with courage and a pioneering spirit.

Highly innovative single-track urban mobility has been strongly anchored in the history of BMW Motorrad for decades. We revolutionized urban mobility already 25 years ago with the unique BMW C1. In 2014, we were the first manufacturer to combine outstanding design with an e-drive in the BMW C evolution. In 2022, we launched the CE 04, a design & technology masterpiece of emission-free mobility which remains the global market leader in its segment to this day.

At BMW Motorrad, the development of single-track e-mobility clearly stands for visionary concepts, innovation leadership and groundbreaking design. With the Vision CE's special self-balancing system, we are looking to the future and setting again new standards: Urban riding fun on two wheels without having to wear a helmet or motorcycle clothing, thanks to the unique structural bracket design.

The Vision CE – one like no other: Exciting and inspiring - just like BMW Motorrad!

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

Ladies and gentlemen,

At the BMW Group, we are constantly reshaping mobility – just as we have for nearly 110 years. Our customers’ individual needs, wishes – and, yes, their dreams – are always at the heart of all our brands.

All of our customers benefit from our innovative approaches and the latest technologies. At the same time, we are steering the company on a long-term path that is in line with the Paris Agreement.

This is the spirit that drives us at the BMW Group.

Thank you.

Munich. Please find the satellite details of the BMW Group Press Conference as follows: 

8 SEPTEMBER 2025.

08:30 - 08:50 A.M. CEST – BMW Group Press Conference at the IAA Summit. LIVE

Technical data TV satellite transmission:
 

Contact SNG: Tel. +49 (0) 179-5079009 (Torsten Jobmann)

Live Stream available at:

English: https://www.live.bmwgroup.com/en/live-streaming/
German: https://www.live.bmwgroup.com/de/live-streaming/

If you have any questions, please contact:
BMW Group Corporate Communications

Sibylle Böres, BMW Group Press & PR Events
Telephone: +49-151-60120906
E-Mail: Sibylle.Boeres@bmw.de

Wieland Brúch, Press Spokesperson BMW Product Communications
Electromobility and Sustainability
Telephone: +49-176-60172652
E-Mail: Wieland.Bruch@bmw.de

Paris/Munich. – En 2026, Rétromobile, l'un des salons automobiles les plus prestigieux au monde en matière de voitures de collection, fêtera son 50e anniversaire. Il en va de même pour la collection légendaire des BMW Art Cars. Pour marquer cette étape importante, BMW rassemble toutes les BMW Art Cars qui ont couru au Mans pour des retrouvailles spectaculaires à Paris. De la première et révolutionnaire Art Car d'Alexander Calder en 1975 au chef-d'œuvre d’élégance de Julie Mehretu en 2024, les BMW Art Cars qui ont osé courir reviendront sous les feux de la rampe – non pas sur la piste, mais dans toute leur splendeur à Rétromobile 2026.

BMW Art Cars exposées au salon Rétromobile à Paris :

• #1 I Alexander Calder, BMW 3.0 CSL (1975)
• # 2 I Frank Stella, BMW 3.0 CSL (1976)
• #3 I Roy Lichtenstein, BMW 320i Turbo (1977)
• #4 I Andy Warhol, BMW M1 (1979)
• #15 I Jenny Holzer, BMW V12 LMR (1999)
• #17 I Jeff Koons, BMW M3 GT2 (2010)
• #20 I Julie Mehretu, BMW M Hybrid V8 (2024)

« Réunir à Paris ces BMW Art Cars ayant participé au Mans est plus qu'un hommage », déclare Helmut Kaes, directeur de BMW Group Classics. « C'est une véritable déclaration : sur le courage, la créativité et la puissance des idées radicales qui continuent à faire avancer les choses, même 50 ans plus tard. »

50 ans « d’œuvres d’art roulantes » : Le BMW Art Car World Tour.

L'exposition parisienne s'inscrit dans le cadre du BMW Art Car World Tour, qui célèbre le 50^e anniversaire de la collection des BMW Art Cars. Depuis son lancement en mars 2025, cette tournée planétaire propose un programme d'expositions ambitieux sur les cinq continents, touchant plus de 20 marchés. Cette tournée réunit l'art, l'innovation et la mobilité dans la célébration d'une vision audacieuse. La tournée se poursuivra jusqu'à la fin de l'année 2026 et fera des étapes supplémentaires en Belgique (Bruxelles, Grand Prix de Zoute), au Maroc (Marrakech), en Afrique du Sud, aux États-Unis (Pebble Beach), en Turquie (Contemporary Istanbul) et en Italie (Milan, ADI Design Museum).

 Depuis 1975, des artistes de renom du monde entier ont créé des BMW Art Cars. L'idée est née lorsque le pilote automobile français et amateur d'art Hervé Poulain, en collaboration avec Jochen Neerpasch, alors directeur du département Motorsport chez BMW, a invité son ami, l'artiste Alexander Calder à peindre une voiture de course. Le résultat – une BMW 3.0 CSL éclatante – a participé aux 24 Heures du Mans en 1975, captivant le public et entrant dans l'histoire.

Au fil des décennies, la collection s'est enrichie d'œuvres visionnaires signées Frank Stella, Roy Lichtenstein, Andy Warhol, Robert Rauschenberg, Esther Mahlangu, David Hockney, Jenny Holzer, Ólafur Elíasson et bien d'autres. Plus récemment, John Baldessari et Cao Fei ont respectivement utilisé les BMW M6 GTLM et M6 GT3 pour des participations spectaculaires à Daytona (2016) et Macao (2017). Les BMW Art Cars de Jeff Koons et Julie Mehretu ont fait leur retour au Mans en 2010 et 2024.

« Quel meilleur choix que les Art Cars pour célébrer le 50e anniversaire du salon Rétromobile ? Nous sommes très heureux et fiers de dévoiler aujourd'hui l'affiche officielle de l'édition 2026 du salon, ainsi que l'exposition qui réunira pour la première fois en France ces sept chefs-d'œuvre automobiles. Je tiens à remercier chaleureusement nos amis de BMW pour leur confiance et leur collaboration dans cette fantastique aventure humaine, technique et artistique qu'est la collection BMW Art Cars. », Romain Grabowski, directeur du salon Rétromobile.

50^e anniversaire de Rétromobile

Rétromobile 2026 : une édition très attendue placée sous le signe de l’art !
Fondé en 1976, Rétromobile fête ses 50 ans ! Et pour célébrer cet anniversaire en beauté, les équipes du salon ont vu les choses en grand : une première édition à New York du 19 au 22 novembre 2026, un nouvel évènement dédié au phénomène des Supercar modernes, l’"Ultimate Supercar Garage" co-localisé avec Rétromobile Paris... mais surtout, quatre expositions inédites attendent les visiteurs au Parc des Expositions de la Porte de Versailles. Parmi elles, la première mettra à l’honneur un phénomène artistique et mécanique international : les BMW Art Cars. 

Informations pratiques :

Lieu : Paris Expo Porte de Versailles

Journées ouvertes au public : 28 janvier – 1^er février 2026

Pour en savoir plus sur l'engagement culturel de BMW

https://www.instagram.com/bmwgroupculture_fr/

https://www.instagram.com/bmwfrance/

Munich. Lors de l'IAA Mobility à Munich, qui se déroulera du 9 au 14 septembre, MINI transformera la ville en sa propre scène à deux endroits bien connus : un Open Space impressionnant à Max-Joseph-Platz, et une présence centrale de la marque dans le Pavillon MINI à Lenbachplatz. Le point culminant est la première mondiale de deux showcars JCW exclusifs, créés dans le cadre d'une collaboration passionnante.

Pavillon MINI : MINI dévoile deux showcars JCW exclusifs.

L'héritage de MINI en matière de compétition automobile est indiscutable car le sport automobile fait partie de l'essence de la marque depuis sa création mais le sport automobile continue de faire battre le cœur de la gamme JCW comme en témoigne le récent podium de MINI lors des 24 heures du Nürburgring.

Dans le cadre de l'IAA, deux showcars uniques MINI John Cooper Works célèbrent leur première mondiale, résultat d'une collaboration inspirante. Pendant la durée de l'IAA, le Pavillon MINI met ces modèles en vedette dans une présentation spectaculaire. Les showcars, qui combinent l'enthousiasme de course inimitable de la marque avec l'esprit d'une marque lifestyle mondialement célèbre, peuvent être admirées à Lenbachplatz. Pour cela, le Pavillon MINI sera largement remodelé et entièrement dédié à l’univers John Cooper Works.

• Pavillon MINI : Lenbachplatz 7a, 80333 München

MINI à l'Open Space BMW Group : Héritage et humour devant l’Opéra.

Une métropole dans une métropole : avec sa présence à l'Open Space BMW Group, et restant fidèle au slogan « Only MINI can do », MINI apporte le centre-ville vibrant de Londres à l'élégante Max-Joseph-Platz dans la vieille ville de Munich. Un décor soigneusement mis en scène recrée le cœur de la ville anglaise et présente l'identité britannique de la marque, y compris son humour dans de nombreux détails. Avec l'Opéra d'État de Bavière et le Residenztheater en arrière-plan, cet Open Space met l'accent sur les modèles entièrement électriques de la nouvelle famille MINI avec, en vedette, la MINI John Cooper Works 100 % électrique. Avec les MINI John Cooper Works 100 % électrique, MINI Aceman SE et MINI Countryman SE ALL 4, les visiteurs pourront découvrir de près trois modèles MINI entièrement électriques. Max-Joseph-Platz sera également le point de départ des essais réalisés en coopération avec SIXT.

• MINI Open Space : Max-Joseph-Platz 2, 80539 München

MINI à l'IAA : le Community Day unit les fans de la marque.

Les fans de MINI peuvent également participer activement à l'IAA Mobility cette année : lors du "Community Day", qui se déroulera le 13 septembre, les clubs MINI se réuniront pour une balade avec leurs MINI personnelles. Partant de Gut Kaltenbrunn sur le lac Tegernsee, l'itinéraire traverse Munich et se termine par une rencontre inspirante avec musique, barbecue et échanges avec la communauté de fans de la marque au Pavillon MINI.

L'IAA : une plateforme pour les experts et les passionnés.

En tant que l'un des plus grands et des plus importants salons automobiles internationaux, l’IAA Mobility offre aux constructeurs, journalistes et autres passionnés une plateforme de dialogue sur les thèmes de la mobilité, de l'innovation et de la technologie tous les deux ans. Plus d'un demi-million de visiteurs ont été comptés lors de la dernière IAA 2023 à Munich.

Munich. BMW, MINI et BMW Motorrad présenteront leurs nouveautés dans deux emplacements centraux lors du salon IAA Mobility 2025. Comme lors des éditions 2021 et 2023, le salon IAA Mobility se tiendra à la fois au parc des expositions de Munich (Messe München) avec le « Summit » – le stand de BMW Group sera à découvrir dans le hall A1 – mais également en plein cœur de la ville. L' « Open Space » de BMW Group sera situé sur la place Max-Joseph-Platz, au pied de l'opéra. D'une superficie de 3 000 m², ce dernier sera ouvert gratuitement aux visiteurs le mardi 9 septembre (jour de l'ouverture officielle) de 11h00 à 21h00 CET, du mercredi 10 septembre au samedi 13 septembre de 11h00 à 23h00 CET et le dimanche 14 septembre de 10h00 à 17h00 CET. Le BMW Welt et le BMW Museum joueront également leur rôle dans l'événement le plus important de l'année pour le secteur de l'automobile et de la mobilité avec leurs propres expositions. L'ouverture officielle du « Summit » aura lieu au centre d'exposition le lundi 8 septembre à 8h00 CET. Cet espace est principalement destiné aux visiteurs professionnels et sera ouvert chaque jour jusqu'au vendredi 12 septembre de 9h00 à 18h00 CET.

Première mondiale de la Neue Klasse.

BMW Group présente l'un des modèles les plus significatifs de son histoire à l'IAA Mobility 2025, dans sa ville natale de Munich. La BMW iX3, le premier modèle de la nouvelle famille Neue Klasse, fera sa première apparition publique lors de l'événement. Révélées par l’intermédiaire de la Neue Klasse, une multitude de nouvelles technologies joueront un rôle révolutionnaire à l'avenir pour l'ensemble de BMW Group. La nouvelle BMW iX3 offre au public un premier aperçu de l'énorme avancée technologique réalisée par BMW dans de nombreux domaines : mobilité électrique, affichage et contrôle/commande, digitalisation, connectivité, design, durabilité et ouverture technologique. Tous les futurs modèles BMW bénéficieront des innovations de la Neue Klasse, quel que soit le type de système de propulsion utilisé.

La nouvelle BMW iX3 et ses nombreuses innovations au centre de toutes les attentions.

Véritable fer de lance de BMW à l'IAA Mobility 2025, la nouvelle BMW iX3 sera au centre de l'événement. En plus de la présentation de plusieurs exemplaires de cette nouveauté mondiale, la scène centrale à l'ombre de l'opéra de Munich sur la place Max-Joseph accueillera également des "Masterclasses" quotidiennes mettant en vedette le nouveau modèle. Régulièrement pendant la semaine, des démonstrations du nouveau système d'affichage BMW Panoramic Vision – incluant le nouveau BMW Operating System X – entièrement développé en interne chez BMW, seront également proposées. Ces innovations inaugurées par la BMW iX3 se retrouveront progressivement dans tous les futurs modèles BMW.

BMW Charging présente la recharge bidirectionnelle.

Une zone dédiée de l'Open Space sera consacrée à BMW Charging, avec l'aide des modèles électriques de la gamme actuelle BMW comme la nouvelle BMW iX et la BMW i5. Les experts présents fourniront des informations sur la recharge publique et l'offre BMW Charging pour la recharge à domicile à l'aide de diverses BMW Wallbox. BMW Charging présentera pour la première fois la recharge bidirectionnelle disponible dans la BMW iX3 lors du salon IAA Mobility. Cette technologie permet notamment à la BMW iX3 de transférer l'énergie de sa batterie haute tension vers l'alimentation électrique du domicile du client (Vehicle-to-Home – V2H) ou le réseau public (Vehicle-to-Grid – V2G).

Une multitude de modèles BMW, MINI et BMW Motorrad à l'Open Space.

En parallèle de la première mondiale de la BMW iX3, véritable star de cette édition 2025, les fans de BMW et les passionnés des marques MINI, BMW M et BMW Motorrad seront également bien servis. Parmi les modèles présentés à l'Open Space figurent la BMW i4, BMW i5, BMW i7 et BMW iX, la BMW X3 30e xDrive (WLTP, combiné – conformément à la réglementation allemande sur l'étiquetage énergétique des voitures particulières [EnVKV]* : consommation d'énergie pondérée : 16,7 kWh/100 km et 3,3 l/100 km [85,6 mpg imp] ; émissions de CO₂ pondérées : 76 g/km ; classes de CO₂ : avec batterie déchargée G ; pondérée B ; consommation de carburant avec batterie déchargée : 8,2 l/100 km [34,5 mpg imp]) et la BMW M5 Touring avec système de propulsion hybride rechargeable (WLTP, combiné – conformément à l'EnVKV : consommation d'énergie pondérée : 27,6 kWh/100 km et 2,0 l/100 km [141,2 mpg imp] ; émissions de CO₂ pondérées : 45 g/km (WLTP) ; classes de CO₂ : avec batterie déchargée G, pondérée B ; consommation de carburant avec batterie déchargée : 10,9 l/100 km [25,9 mpg imp]).

BMW Motorrad y exposera ses scooters électriques premium BMW CE 02 et BMW CE 04. Et avec le concept BMW Vision CE, la marque y offrera également un aperçu fascinant de la façon dont les ingénieurs et les designers envisagent l'avenir des scooters entièrement électriques pour les grandes agglomérations.

MINI : « show cars » et « Britishness » prennent le devant de la scène.

MINI déploiera sa présence à l'IAA Mobility 2025 sur deux sites au cœur de Munich. Son spectaculaire Open Space sur la place Max-Joseph et sa présence centrale au MINI Pavillon sur la Lenbachplatz offriront un aperçu profond de l'ADN de la marque. De plus, deux « show cars » JCW survitaminés célébreront leurs premières mondiales à Munich dans le cadre d'une présentation captivante. La capitale bavaroise se transformera en une immense scène pour la marque britannique lors de l'IAA Mobility 2025.

Les deux « show cars » JCW apporteront une présence saisissante au MINI Pavillon pendant toute la durée de l'IAA et fourniront une preuve visuelle que le sport automobile continue de façonner l'ADN de MINI. En effet, l'icône britannique et la compétition automobile sont indissociables, comme le confirme le dernier podium de la marque lors de la course de 24 heures du Nürburgring. Les deux « show cars » seront exposées à la Lenbachplatz, au Pavillon MINI qui sera largement modernisé pour l'occasion et entièrement dédié à l’univers John Cooper Works.

Animations pour les familles à l'Open Space.

En 2025, comme lors des éditions précédentes, l'espace famille de l'Open Space invite les visiteurs à participer et à se détendre en même temps. Les enfants, les adolescents et les familles peuvent s'attendre à des attractions créatives telles que des zones de construction LEGO, un Disney+ Dance Challenge avec Lilo & Stitch, des activités artisanales et une station d'eau.

Événements au Summit, au BMW Welt et au BMW Museum.

En plus de sa présence à l'Open Space sur la place Max-Joseph, la BMW iX3 occupera également une place de choix sur le stand de 2 000 m² de BMW Group au centre d'exposition – situé à Riem, dans la partie est de Munich. Outre la gamme de voitures exposées au Summit, des innovations telles que le BMW Panoramic iDrive, les batteries haute tension de sixième génération et les systèmes de propulsion électrique, ainsi que la technologie de gestion de la dynamique de conduite – grâce à l’unité de commande BMW "Heart of Joy" – seront au cœur des présentations et des conférences d'experts. Les éléments les plus importants du BMW Panoramic iDrive sont la surface d'affichage couvrant toute la largeur du pare-brise inférieur, le nouveau volant multifonction avec technologie shy-tech et le nouvel écran central. Tous jouent leur rôle dans une animation à grande échelle impressionnante. Les experts du Summit éclaireront également des domaines tels que les piles à combustible hydrogène, les carburants alternatifs, les systèmes de propulsion hybride rechargeable et la technologie de recharge.

La Neue Klasse de 1961 fait également une apparition au salon.

Le stand BMW Group au centre d'exposition présentera une voiture célèbre des années passées, la BMW 1500 qui n’est autre que le premier modèle de la gamme originale Neue Klasse. Cette BMW 1500 était la vedette du salon IAA de 1961 à Francfort, une véritable star qui a écrit les premières lignes d'une histoire à succès internationale. La Neue Klasse a posé les bases pour que BMW Group devienne le constructeur de voitures premium le plus prospère au monde. Et maintenant, la BMW iX3 de 2025 boucle la boucle – une voiture avec tous les outils pour s'appuyer sur cette croissance et le premier modèle d'une nouvelle ère.

Les visiteurs du centre d'exposition auront également la chance de découvrir une sélection de modèles actuels comme la BMW M5 Touring ou la BMW X3 20d xDrive (WLTP, combiné (EnVKV)* : consommation de carburant 6,5 l/100 km [43,5 mpg imp] ; émissions de CO₂ 171 g/km ; classe de CO₂ : F) ou la BMW iX5 Hydrogen* (consommation selon WLTP : 1,19 kg H₂/100 km ; consommation, combinée selon NEDC : – ; émissions de CO₂, combinées selon WLTP : 0 g/km ; autonomie selon WLTP : 504 km [313 miles] ; classe de CO₂ : A).

Le BMW Welt inaugure un hub de recharge d’un nouveau genre.

En plus de ses apparitions à l'Open Space et au Summit, la BMW iX3 sera également exposée au BMW Welt dans le nord de Munich à partir du 6 septembre. Sous les projecteurs avec le nouveau modèle BMW entièrement électrique, on y retrouvera des innovations telles que le BMW Panoramic iDrive et des services comme BMW Charging. Pendant l'IAA Mobility, les clients s'arrêtant pour recharger leurs véhicules aux stations de recharge du BMW Welt recevront une surprise et, s'ils le souhaitent, une visite personnelle gratuite de tout ce qui gravite autour de la BMW iX3 et BMW Charging.

Peu avant l'ouverture de l'IAA Mobility 2025 aux visiteurs, un nouveau hub de recharge entrera en service à l'extérieur du BMW Welt. Ce hub offrira huit points de recharge pour véhicules électriques. Créé par Designworks, le studio d'innovation de BMW, le hub s'intègre parfaitement à l'architecture unique du bâtiment dans son ensemble. Des conférences d'experts et des présentations accompagneront l'introduction de la nouvelle installation de recharge à partir du 8 septembre et se poursuivront tout au long de l'IAA Mobility 2025.

DigiTour : expériences interactives au BMW Museum.

Le BMW Museum accueillera les visiteurs de l'IAA Mobility 2025 avec une nouvelle attraction digitale : le BMW Museum DigiTour. Cette application web, accessible sans téléchargement, offre une expérience moderne, fascinante et interactive aux visiteurs du monde entier. Cette nouvelle expérience digitale pour les visiteurs donne vie à l'histoire et à l'attrait de la marque BMW. Une visite des points forts des BMW classiques (des premiers jours à aujourd'hui) sera présentée ici sous forme digitale, tout comme l'exposition temporaire du musée "Belle Macchine – Italian Automotive Design at BMW" . D'autres visites guidées sont prévues, y compris des formats adaptés aux familles et aux enfants. Le BMW Museum DigiTour est gratuit, ouvre une fenêtre sur des archives rarement montrées au grand public et est disponible en plusieurs langues.

BMW Group : durabilité et économie circulaire comme priorités.

En tant que partie intégrante de la stratégie de BMW Group à l'IAA Mobility 2025, le thème de la durabilité se distingue dans une série de premières mondiales et d'innovations. En plus de l'électrification de ses systèmes de propulsion, BMW Group a adopté une approche holistique pour atteindre ses objectifs dans ce domaine. L'accent est mis ici sur la réduction des émissions de CO₂ tout au long du cycle de vie d'un véhicule, et le développement de la Neue Klasse a vu BMW redoubler d'efforts pour atteindre ces objectifs. Du développement d'un produit, de l'utilisation de matériaux secondaires, de l'approvisionnement en matières premières et de la production, à la phase d'utilisation du produit et à son recyclage éventuel, BMW Group adhère à une pensée circulaire cohérente. Cet engagement envers la circularité se retrouve également sur les différents espaces BMW Group à l'IAA Mobility 2025. Environ 80 % des installations, des équipements et des matériaux de l'Open Space sur la place Max-Joseph ont soit déjà été utilisés, soit ont été acquis explicitement pour une utilisation prolongée lors d'autres événements. Les plantes, les robots, les barrières en béton et une grande partie de la technologie événementielle ont été largement loués. La présentation au Summit implique un engagement encore plus grand envers la réutilisation des matériaux. L'utilisation unique est donc principalement limitée aux graphiques et aux matériaux soumis à de fortes contraintes, tels que les revêtements de sol et les surfaces murales.

Chiffres de consommation et d'émissions :

Les chiffres de consommation de carburant, d'émissions de CO₂, de consommation d'énergie électrique et d'autonomie se réfèrent aux véhicules du marché allemand. Tous les chiffres sont calculés sur la base du nouveau cycle de test WLTP. Les données de consommation et d'émissions se réfèrent à la réglementation allemande sur l'étiquetage énergétique des voitures particulières (PKW-EnVKV).

- Check against delivery –

Ladies and Gentlemen,

Good morning.

Thanks to the strength and foresight of our strategy, our attractive product portfolio and our global team and operations, the BMW Group is built to weather various conditions.

This is what separates us from the competition. And it underscores that there is not ONE automotive industry – major players are currently performing quite differently.

Through the first half-year, our sales performance demonstrates the appeal of our global brands and the ongoing success of our broad technological approach.

After confirming our original guidance from our Annual Conference after the first quarter results, we remain on track with our financial targets for the year – despite ongoing tariff uncertainty and fluctuations in the Chinese market.

Unpredictability is a longstanding feature of the auto industry and is the norm in today’s business environment. What is decisive is how you deal with it. Because global success is rather predicated on your ability to anticipate developments and to respond rationally and efficiently.

That is fundamental to the BMW Group. And we are building upon our leading position in the industry.

The overall global automotive market is growing. We are always ready to profitably gain market share wherever individual market conditions allow. As dynamics in the industry shift, we know exactly where we are placed with our premium brands and where we can pursue opportunities – maintaining a healthy balance of value and volume.

Over many decades, we have built up a comprehensive and balanced network of sales, production and supply chain operations spanning the major regions. This makes us one of the few truly global players in the industry and our deep roots in global markets offer us many advantages.

First, they allow us to tap into leading-edge developments in the individual markets and understand specific customer needs. Our ties to research universities, our R&D network and IT hubs and our network of local tech partners enable us to leverage key competencies from individual markets for our global products and strategy.

Second, through our extensive footprint in key markets, we remain resilient in the face of geopolitical instability and ever-increasing regulation.

Finally, our strong ties also allow us to engage in direct discussions with key political decision-makers, who value our perspective. Here, it is not just about our individual interests, but rather finding solutions for customers worldwide and driving shared economic prosperity.

The BMW Group welcomes the fundamental agreement between the European Union and the United States to reduce tariffs on both sides of the Atlantic. It’s now important to quickly finalize and implement the agreed measures.

We will continue to advocate for trade between the EU and the US not be hindered by import tariffs. The currently agreed US tariffs also burden European exports, affecting consumers and globally operating companies. Therefore, we urge both sides to continue working towards market openness and the convergence of technical regulations.

Through our global production network and supply chains, we maintain high flexibility to respond to fluctuations. Our production plants are attuned to market demand, allowing us to achieve capacity utilization above the industry standards.

At our largest single plant in Spartanburg in the United States, for example, we produce over 400,000 vehicles annually. Over half of which serve the local market and half of which we export. Across the United States we have created extensive value chains as well as a competency hub for our global X Family of vehicles in Spartanburg, which remain in high demand across the entire globe.

BMW made in America and sold to the world.

This combination of leveraging the competitive advantage of the US market in SUVs with BMW’s brand strength allows us to develop products which speak to customers’ needs in markets worldwide.

For the current financial year, our sales results continued into Q2 in line with our expectations, as conditions continue to vary from market to market. In Q2, we saw a sequential improvement from Q1.

Outside of China, all three of our major sales regions posted growth.

Group sales in these markets combined to grow by 6.3% through the first six months of the year.

Group sales in Europe grew overall by 10.2% in the second quarter and in Germany alone by over 10%, with growth in most markets outpacing the passenger vehicle market. Overall, the BMW brand increased its market share in Europe.

Among the most successful BMW models were those in the business class segment. In the first half of the year, the BMW 5 Series saw growth of more than 40% worldwide compared to 2024.

Other notable models that saw success included the BMW X2 models, which more than doubled sales through June.

With the full availability of the new MINI family, the brand grew in all regions worldwide, including in China. In the first half of the year, more than one in three MINIs sold was a BEV.

Rolls-Royce increased deliveries by nearly 10% in the second quarter, driven by strong sales from the Cullinan Series II*.

Drivetrains and model variants across the portfolio continued to see success in Q2. BMW M sold nearly 106,000 vehicles through June, the best-ever first half-year for the brand.

Sales of plug-in hybrid models from the BMW brand grew by almost 30% in the first six months. Our BEV models continue to be a fundamental pillar of our strategy. In the second quarter, we achieved an important milestone, with the delivery of our 1.5-millionth all-electric vehicle. Across the portfolio, we now offer more than 15 all-electric models.

In Europe, the Group’s BEV share reached 25%. With PHEVs included, the electrified share reached nearly 40%. Across all brands, BMW is the third best-selling BEV brand in Europe.

While we are proud of our position as a leading BEV player, we know that the world is multi-dimensional.

To meet consumer needs, especially in a product as complex and personal as a car, there is no single answer. Our Q2 results show that we can serve multiple preferences simultaneously: BEVs, PHEVs and our M models all achieved growth.

The most effective strategic approach is to use all technologies to reduce CO2 emissions overall. We remain committed to the goals of the Paris Climate Agreement, while advocating for a review of the 2030 and 2035 targets in the EU.

To achieve these goals and create effective CO2 regulations, we must take a comprehensive view across the entire value chain. This would consider all emissions across the entire life cycle and not just tailpipe emissions: from the supply chain to the raw materials used in the car, the production process, the vehicle drive, energy used to power the vehicle, and finally to recycling.

A dependency on a single technology can be damaging to an industry. Putting all your eggs in one basket is just poor asset allocation.

Hydrogen, for example, offers Europe an opportunity to use our expertise and take the lead on an emerging technology that will contribute to our climate goals. And, unlike BEVs, without the need for large amounts of raw materials or battery technology which are not localizable at large scale in Europe.

Beyond drivetrains, there is great potential with alternative fuels. There are more than 250 million vehicles in the EU, which could now immediately contribute to climate protection. But this requires a clear regulatory pathway and targeted investments in the ramp-up of all renewable fuels.

Take HVO100 as an example. While it is already available in markets across Europe, tax schemes and the CO2 fleet targets need to recognize this renewable fueling option to incentivize customer adoption. This would help in scaling an alternative fuel that has a 90% CO2 saving compared to normal fuels and can already be accessed today. For OEMs and customers, this is also a cost-effective way to reduce emissions in the use phase.

For Europe to maintain competitiveness and finance its future, we need to invest not only in new technologies, but also leverage our existing technologies, which can meet customer preferences and still contribute to climate targets.

For the BMW Group, we are now just five weeks away from the next major innovation step, which our entire company has been fully focused on for many years now: the launch of the NEUE KLASSE.

On September 5th, we will celebrate the world premiere of the all-new BMW iX3* at the IAA Mobility here in Munich.

In June we hosted media representatives at the pre-drive event in Miramas in southern France. The initial feedback has been tremendous.

We remain right on time with the launch, including at our new Plant in Debrecen. Construction also continues at our battery assembly facility in Irlbach-Straßkirchen.

With the NEUE KLASSE, we are making great strides in all relevant technology fields – whether in electrification, digital user experience, driving dynamics or sustainability.

The new BMW iX3 will be benchmark in the industry.

The all-electric 6th generation powertrain will set standards in performance and efficiency:

• powered by our battery cells developed in house, with 20% more energy density:
• an electric range of up to 800 kilometers according to WLTP;
• With 400-kilowatt maximum charging, customers will be able add over 350 kilometers to their vehicle’s range in just 10 minutes according to WLTP;
• And with an energy consumption of 15 kilowatt hours per 100 kilometers.

In addition, our revolutionary new iDrive will change the way the driver interacts with the car. With the BMW iDrive, we set an industry standard more than twenty years ago. After the reveal of the all-new Panoramic iDrive at CES in January, we are already seeing the industry follow our lead.

With the technology clusters we have developed for the NEUE KLASSE, we will scale our advanced technologies across the portfolio. We will start in the core segment to build momentum quickly. This is simply smart economics.

By 2027, we will bring 40 new models and model updates with NEUE KLASSE technology and design language on the road worldwide.

Our technology cluster approach also allows us to integrate market-specific features and content. In our major sales regions, we have a variety of local solutions with leading partners. This allows us, for example, to further enhance the digital user experience as well as automated driving functions in our upcoming NEUE KLASSE models.

In China, we are collaborating with Alibaba Banma to develop the next level of intuitive and conversational in-car voice interaction. We will also enhance our BMW Intelligent Personal Assistant with functionality from DeepSeek in our vehicles in China.

In most other countries, the next-gen BMW intelligent personal assistant will be powered by large language model technology from Amazon Alexa.

For driving assistance systems that meet local needs and regulations, we have also sought out partners in different geographies. Always following our philosophy in this area: smart, symbiotic and safe.

Just two weeks ago, we announced a new partnership with Momenta, a leading Chinese ADAS technology provider. The partnership will focus on software development and integration for Chinese road-networks, traffic-conditions and user expectations, utilizing advanced AI algorithms and data driven development methods. We will launch the systems in China starting with our NEUE KLASSE.

In other markets, we continue to build on our already very successful partnership with Qualcomm.

These examples show how adaptive the NEUE KLASSE architecture is.

With a software-defined vehicle, we maintain competency over all systems of the car and can roll them out to markets at the same time across the world. But we also are able to quickly integrate local tech stacks into our own ecosystem to give consumers access to innovations and features they are used to.

And through backward integration of software solutions available for all aspects of the vehicle over the air, we will continuously enhance the customer experience.

This is a huge advantage for us.

Ladies and Gentlemen,

Our consistent strategic approach and continued success is not a coincidence but the result of resolute, long-term planning and orientation. It is a multi-year process in every area of the company.

This is what our stakeholders expect from us.

The BMW brand is a promise. And we deliver on our promises.

We continue to build upon the strong position we are in today.

With the rollout of NEUE KLASSE technologies and products over the next two years, we will bring the company to a whole new level.

Thank you.

- Check against delivery –

SLIDE 2: BMW Group Half-Year Report to 30 June

Good morning,

Ladies and Gentlemen,

After the first six months of the year, the BMW Group remains on track to meet its full-year targets for 2025.

As expected, tariffs weighed significantly on financials in the second quarter.

Nevertheless, the BMW Group achieved Group earnings before tax of over 5.7 billion euros and a Group EBT Margin of 8.5 percent in the first six months.

SLIDE 3: BMW Group Performance in Q2 2025

In the second quarter, deliveries to customers at Group level increased by 0.4 percent year-on-year.

As of June, BMW Group global sales remained on par with last year.

All-electric vehicles made an important contribution with a share of total sales of 18.3 percent.

The share of electrified vehicles – meaning either a BEV or a plug-in hybrid – even amounted to 26.4 percent.

Group earnings before tax totaled over 2.6 billion euros in the second quarter and over 5.7 billion euros after 6 months.

This resulted in a Group EBT margin of 7.7 percent in Q2 and 8.5 percent in the first half-year.

The operating profit in the Automotive segment reached 1.6 billion euros in Q2 and over 3.6 billion euros after 6 months.

This led to an Automotive EBIT margin of 5.4 percent for the second quarter and 6.2 percent for the year to the end of June – both within our full-year guidance of 5 to 7 percent.

Excluding the depreciation resulting from the purchase price allocation of BBA, the margins came in at 6.5 percent for the second quarter and 7.3 percent through six months.

SLIDE 4: Automotive Retail Units, BEV Units, Auto Revenue and Auto EBIT

Let’s take a look at how the Automotive Segment performed across key metrics.

Between April and June, deliveries of BMW, MINI and Rolls-Royce vehicles to customers were on previous year’s level with 621,000 units.

We saw sales growth in all regions except China.

The BMW brand declined slightly by 2.6 percent compared to the second quarter of 2024.

Outside of China the brand grew by 4.7 percent.

MINI benefitted from the full availability of the entire model range and reported a significant year-on-year growth of 33.2 percent in the second quarter across all regions.

Retail sales in Q2 were especially strong in Europe, with double-digit growth of 10.2 percent year-on-year.

The European order intake for BMW remains strong, with an order bank reaching well into the fourth quarter.

The US reported a growth of 1.4 percent in Q2.

In China, retail sales levels in the first six months of 2025 were down 15.5 percent compared to the previous year.

However, during the second quarter we saw a slight sequential improvement month by month.

Sales of our all-electric vehicles continued to grow.

In the second quarter, we delivered more than 111,000 all-electric vehicles to customers.

Automotive segment revenues decreased moderately by 8.4 percent to 29.4 billion euros in the second quarter.

Adjusted for currency translation effects, the decrease was 5.3 percent, mainly due to lower sales volume in China.

Segment EBIT for the period from April to June totaled 1.6 billion euros.

The EBIT margin came in at 5.4 percent for the quarter and 6.2 percent for the half-year.

These margins include the negative effects from tariffs, which amounted to around 2 percentage points in the second quarter and around 1.5 percentage points in the first six months.

That brings me to my next slide, to take a detailed look at the year-on-year changes in the operational result.

SLIDE 5: Automotive Segment EBIT in Q2

Automotive EBIT declined by around 1.1 billion euros compared to the second quarter of 2024.

More than half of this difference is due to the impact of tariffs, which is included in the position Other.

Changes in currency and raw material positions were neutral in Q2.

In the second half year, we expect a headwind year-on-year.

The net balance of volume, model mix and pricing effects negatively impacted EBIT by 300 million euros in the second quarter, compared to the previous year.

Volume and model mix combined were neutral.

Pricing continues to be a headwind year-on-year, however to a much lesser extent than in the first quarter.

Competitive pressure remains strong, especially in the Chinese market. Here, price levels of the second half of 2024 continued into the first half-year of 2025, as expected.

Research and development expenses decreased by about 200 million euros compared to the prior-year quarter.

Group R&D expenditure as of June totaled 4 billion euros, slightly below previous year.

The R&D ratio according to the German Commercial Code came in at 6 percent after six months.

For the full year, R&D expenditure will be below last year’s level, and it will steadily decrease over the next years.

Selling and administrative expenses also decreased by around 100 million euros compared to the previous year.

The year-on-year headwind of 1.1 billion euros from Other Cost Changes can mainly be attributed to two factors:

• First, higher tariffs in the US and anti-subsidy tariffs imposed by the EU Commission on electrified vehicles from China
• And second, the sale of end-of-lease vehicles. Here, resale income was lower than in the second quarter of 2024, yet remains positive on a portfolio basis

SLIDE 6: Automotive Segment Free Cash Flow in Q2

Free cash flow in the Automotive Segment totaled about 1.9 billion euros in the second quarter.

Segment EBT amounted to 1.6 billion euros, which is 1 billion euros lower than in the previous year’s quarter.

The net change in working capital reduced free cashflow by around 300 million euros.

The net effect from capital expenditure and depreciation had an impact of 200 million euros in the second quarter.

Capital expenditure for the first half-year amounted to around 2.7 billion euros, a significant year-on-year reduction of around 700 million euros.

The capex ratio was 4.5 percent for the second quarter and 4 percent for the first six months.

After the peak in 2024, capex will decrease for the full year 2025.

We expect a capex ratio below 6 percent for 2025.

Changes to provisions negatively impacted free cash flow in the second quarter by around 200 million euros. This was mainly due to the consumption of warranty provisions.

The change in the position Other of around 1 billion euros reflects the development of a set of various topics, including accrued expenses, interest and advance payments received, income taxes and liabilities for tariff expenses not yet paid out.

After the first six months, Automotive Segment free cash flow is on previous year’s level with just over 2.3 billion euros.

For the full year, we are targeting a free cash flow of over 5 billion euros.

Our strong free cash flow generation enables us to further execute our consistent shareholder return strategy.

In May of this year, the Annual General Meeting authorized the Board of Management to buy back up to 10 percent of BMW AG's share capital over the next five years.

Based on this authorization, a third share repurchase program with a volume of up to 2 billion euros was approved.

It should be completed by April 30, 2027, at the latest.

The first tranche of 750 million euros began in May and will be completed no later than December 8th of this year.

SLIDE 7: Financial Services Segment in H1

Let’s move on to the Financial Services Segment.

The number of new contracts, concluded with retail customers in the first half year, reached almost 825,000 contracts, a slight decrease of 3 percent year-on-year.

This is due to the challenging situation on the Chinese market, which led to a moderate decrease in new credit financing business.

The new leasing business continued its dynamic growth in the first six months of the year.

The penetration rate for lease and loan offerings increased by 2.5 percentage points to 43.7 percent.

Driven by a higher average financing amount per contract, new business volume was on previous year’s level despite the slight decrease in new contracts.

Segment earnings amounted to just under 1.2 billion euros, a year-on-year decrease of 19.5 percent.

This results mainly from two topics:

• An addition to provisions following the receipt of a revised operational tax assessment for prior years.
• And the resale income of end-of-lease vehicles, which was lower than in the second quarter of 2024, yet remains positive on a portfolio basis

The credit loss ratio across the entire loan portfolio remained at a low rate of 0.27 percent.

SLIDE 8: Motorcycles Segment in Q2

In the Motorcycles Segment, deliveries decreased moderately by 8 percent year-on-year.

Segment revenues decreased by 2.8 percent.

Adjusted for currency translation effects, they were on par with the second quarter of 2024.

Segment EBIT in the second quarter totaled 136 million euros, with an EBIT margin of 14.2 percent.

SLIDE 9: Outlook 2025

Ladies and Gentlemen,

Our outlook for the full year is based on assumptions, which are described in detail in our half-year report.

Let me briefly mention some key factors for our business development in 2025.

In China, we have been observing increased monitoring of the automotive market by local regulatory authorities since the last two weeks of June.

This also affects commission payments from local banks to dealerships in connection with brokering retail financial and insurance products, payment terms to the supplier base as well as increased scrutiny of price competition.

Dealer commissions were significantly reduced by local banks in June.

We are closely following these developments and their potential impact on the Chinese automotive market.

Ladies and Gentlemen,

As you recall, our guidance given in March included all tariffs in force as of March 12th.

In our quarterly statement for Q1, we had assessed and included all tariff increases announced as of May 7th and confirmed our original guidance based on certain assumptions.

And in today’s half-year report, we maintain our consistent approach and have also incorporated the effects of all latest announcements.

According to the announcements on July 27th, an agreement between the US and the EU regarding the tariff situation is emerging.

Based on published information by the respective authorities, we expect partial reductions of the currently applicable tariffs between the US and the EU from August 1st.

Additionally, tariff negotiations across the globe are ongoing and may result in further changes.

Therefore, the expected impact from tariffs on our full-year results can still only be estimated based on certain assumptions.

For the full year 2025, we currently expect a burden from tariffs of around 1.25 percentage points on the EBIT margin in the Automotive segment, including mitigations.

Based on our assumptions, the full-year outlook remains unchanged.

On a Group level, we are targeting earnings before tax at previous year’s level.

In the Automotive segment, we expect a slight increase in deliveries and an EBIT margin in a corridor between 5 and 7 percent.

The EBIT margin in the Motorcycles Segment should come in at between 5.5 and 7.5 percent.

In the Financial Services Segment, we expect a Return on Equity in the range of 13 to 16 percent.

SLIDE 10: Q2 and H2 Profitability within Full-Year Target Corridor

Ladies and Gentlemen,

The BMW Group is a truly differentiated global player.

We set ourselves apart in the automotive industry with our global footprint and our highly flexible operations.

This strong strategic positioning enables us to mitigate the impact of tariffs and allows us to adapt swiftly to changing market conditions.

The BMW Group has a focused strategy and a clear plan how to effectively navigate our operating business.

As a result, we were able to provide a comprehensive guidance for the year 2025 in March, including the impact of tariffs.

And we delivered an EBIT margin within the full year target corridor of 5 to 7 percent both in the second quarter and for half-year.

At the BMW Group, we are steering our business carefully and in a consistent manner.

During the last years, we significantly invested in the future of our company, in line with our long-term planning.

In 2024, both capex and R&D reached peak levels.

Starting in 2025, we are reducing R&D and capex spending, as planned.

Our operating costs are also decreasing compared to prior year. Just as in Q1, this is again evident in our Q2 figures.

Based on the results of the first six months, we once again confirm our full-year targets for 2025.

And we remain committed to our long-term goals

of premium profitability and capital return to create value

for all our stakeholders.

Thank you.

Munich / Le Mans – Partenaire historique du Mans Classic, BMW a célébré cette année le double anniversaire de ses emblématiques BMW Art Cars et de la BMW Série 3. Cet événement incontournable, qui s’est déroulé du 4 au 6 juillet, a réuni des voitures de course classiques et anciennes sur le circuit légendaire des 24 Heures du Mans, créant un lien fort entre patrimoine historique et innovation contemporaine.

Retour aux origines de l'art et de la course

Cette édition a marqué un rendez-vous historique avec le retour de la première BMW Art Car de Calder, dans sa version Artist's Proof, à l'initiative de la Fondation Calder et de BMW Group Classic, sur la piste où tout a commencé il y a 50 ans. Hervé Poulain, visionnaire à l'origine de l’histoire des BMW Art Cars, et Alexander SC Rower, petit-fils de Calder, étaient présents à cette occasion. Un hommage vibrant à l'originalité du projet, où l'art rencontre l'automobile, perpétuant une tradition qui perdure depuis un demi-siècle.

Hommage au passé et innovations futures

Cette présence forte sur le circuit de la Sarthe souligne l'engagement de longue date de BMW dans l'alliance entre art et technologie. La présentation de la première BMW Art Car a marqué une célébration du voyage artistique et technologique, renforçant l'idée que les progrès passés nourrissent les innovations futures. Cette emblématique BMW 3.0 CSL, incarne un équilibre parfait entre légèreté, performance et esthétique audacieuse.

50 ans de passion et de performance

Cette année 2025 marque les 50 ans des BMW Art Cars, mais également les 50 ans de la BMW Série 3, l'une des voitures premium les plus vendues au monde avec plus de 20 millions d'exemplaires.
Incarnant le plaisir de conduire et la performance caractéristique de BMW, la Série 3 est un pilier de la marque. Au fil des décennies, elle a redéfini la berline sportive, établi de nouvelles normes de performance et fait vibrer des millions de conducteurs à travers le monde. De la première génération révolutionnaire aux modèles innovants d'aujourd'hui, la BMW Série 3 est un symbole incontournable du paysage automobile. La BMW M3 CS Touring, qui était présente au Mans Classic dans l’espace BMW, incarne cette dualité, offrant des performances exceptionnelles sur circuit tout en restant pratique et polyvalente au quotidien.

Point d’orgue : table ronde avec Hervé Poulain et Alexander SC Rower

A cette occasion, Hervé Poulain, créateur des BMW Art Cars, commissaire-priseur et pilote, a partagé sa vision et son émotion sur la genèse de la première Art Car et la singularité de cette collection visionnaire. Alexander SC Rower, président de la Fondation Calder et petit-fils de l’artiste, a évoqué l'importance de cette sculpture roulante dans l'héritage artistique de son grand-père. Une rencontre placée sous le signe de la transmission et de la passion.

Hervé Poulain a déclaré : “Je voulais provoquer la rencontre entre les arts majeurs et l’industrie, deux mondes qui s’ignoraient. Les BMW Art Cars ont métamorphosé le statut de l’auto en faisant accéder aux Beaux-Arts cet objet né des Arts appliqués.”
Se projetant vers l’avenir, il poursuit : “Le mythe automobile a connu bien des métamorphoses. Aujourd'hui, ce mythe est en devenir car le 21e siècle promet des progrès insoupçonnés. La BMW Art Car de Calder est née il y a 50 ans en réaction au pessimisme engendré par le premier choc pétrolier, comme un geste symbolique d’optimisme et de confiance en l’avenir.”

50 ans de « sculptures roulantes » : la Collection BMW Art Car

Depuis 1975, des artistes renommés du monde entier créent des BMW Art Cars. L'idée a émergé grâce au pilote automobile français et amateur d'art Hervé Poulain, qui, en collaboration avec Jochen Neerpasch, alors responsable du sport automobile chez BMW, a invité son ami et artiste Alexander Calder à peindre une voiture. Le résultat fut une BMW 3.0 CSL qui participa aux 24 Heures du Mans en 1975, captivant le public et marquant la naissance de la collection BMW Art Car. Des figures célèbres comme Frank Stella, Roy Lichtenstein, Andy Warhol, Robert Rauschenberg, Esther Mahlangu, David Hockney, Jenny Holzer et Ólafur Elíasson ont depuis enrichi la collection de leur style unique. Plus récemment, John Baldessari et Cao Fei ont utilisé respectivement la BMW M6 GTLM et la BMW M6 GT3 pour s'approprier le concept de BMW Art Car, participant aux courses de Daytona en 2016 et de Macao en 2017. Les œuvres de Jeff Koons et Julie Mehretu ont couru aux 24 Heures du Mans en 2010 et 2024.

Affiche d’exception

Depuis ses débuts, Le Mans Classic offre une scène unique où plus de 600 voitures prennent place pour rendre hommage à l'histoire de la course automobile. BMW, fidèle partenaire de l'événement, met en valeur une gamme de véhicules iconiques, symboles de ce partenariat riche en tradition. Cette année, l'affiche du Mans Classic a mis à l'honneur la légendaire BMW M1 Procar, rendant hommage aux bolides qui ont marqué l’histoire de la plus grande course d’endurance de tous les temps.

Fête populaire et célébration culturelle

Le Mans Classic se veut bien plus qu’un simple rassemblement automobile. C’est une grande fête populaire, enrichie de parades et d’animations culturelles reliant l’histoire automobile et l’avenir. BMW, en cette année de double célébration, a souligné son riche héritage tout en réaffirmant son engagement vers l'innovation et l'excellence.

Modèles en exposition dans l’espace BMW 

Mise à l’honneur des modèles suivants :

• BMW 3.0 CSL Calder de 1975 (Artist's Proof)
• BMW M3 GT Coupé E36 de 1995
• BMW M3 CS Touring
• BMW i4 M60
• BMW M Electrified (Prototype de développement)

BMW continue de redéfinir les connexions entre tradition et innovation - un hommage vibrant à l’histoire et l'avenir de l’automobile
Pour en savoir plus sur l'engagement culturel de BMW
https://www.instagram.com/bmwgroupculture_fr/
https://www.instagram.com/bmwfrance/

- Check against delivery –

SLIDE 2: BMW Group Quarterly Statement to 31 March 2025

Ladies and Gentlemen,

Good Morning.

In a highly dynamic environment, the BMW Group has delivered sales and profitability for the first quarter in line with expectations.

Our core business has a strong foundation of highly attractive products and is well diversified. With a balanced presence in our sales regions, we have a strong competitive position and are able to deliver a consistent performance.

In the first quarter, the BMW Group proved this once again.

SLIDE 3: BMW Group Performance in Q1 202 5

Let’s take a detailed look into the key figures for the first quarter.

Group earnings before tax totalled over 3.1 billion euros.

Based on Group revenues of 33.8 billion euros, this resulted in a Group EBT margin of 9.2 percent.

The EBIT margin in the Automotive segment came in at the upper end of our 2025 annual target corridor with 6.9 percent.

Excluding the depreciation resulting from the purchase price allocation of BBA, the margin was 8.1 percent.

Global retail sales decreased slightly by 1.4 percent compared to last year’s first quarter.

Sales of all-electric vehicles increased by 32.4 percent, which represents a share of 18.7 percent of total sales.

SLIDE 4: Automotive Retail Units, BEV Units, Auto Revenue and Auto EBIT

Here you can see how the Automotive Segment performed across key metrics.

In the first quarter, the BMW Group delivered just over 586,000 BMW, MINI and Rolls-Royce vehicles to customers, a slight decrease of 1.4 percent compared to last year’s first quarter.

While the BMW brand was slightly down 2 percent year-on-year, the MINI brand benefited from the full availability of all models and reported a growth of 4.1 percent.

Group sales grew across all regions except China.

Here, the lower run-rate of the second half of 2024 has carried over into the first quarter of 2025, as expected.

The sales development in the Chinese market in Q1 was also impacted by the model changeover of our important BMW X3 and operational challenges in certain areas of the dealer network.

In Europe, the BMW Group increased retail sales solidly by 6.2 percent.

The order intake for BMW vehicles in the region across our entire product portfolio is strong, with an order bank reaching well into the third quarter.

In particular, BEV retail sales grew by 64.2 percent in Europe, confirming the region’s crucial role in driving our electrification strategy.

In the US, year-on-year retail sales grew by 4 percent.

Our commitment to electrification remains an important cornerstone of our strategy. And the demand for our all-electric vehicles remains strong.

In the first three months, the BMW Group delivered almost 110,000 all-electric vehicles to customers worldwide, representing a significant growth of almost a third (32.4 percent).

The share of our all-electric vehicles amounted to 18.7 percent of total sales.

Our electrified vehicles – meaning BEVs and plug-in hybrids –accounted for almost 27 percent of total sales.

With our comprehensive and compelling line-up of electrified vehicles we remain confident that we will meet our CO2 emission targets in the EU for 2025.

Automotive Segment revenues amounted to 29.2 billion euros and were moderately lower than in the same quarter of 2024, mainly due to lower vehicle sales to dealers.

Segment EBIT for the first three months was 2 billion euros, with an EBIT margin of 6.9 percent.

Let’s now have a detailed look at the year-on-year changes in the operational result on the next slide.

SLIDE 5: Automotive Segment EBIT in Q1

Auto EBIT declined by around 700 million euros compared to the first quarter of 2024.

Changes in currency and raw material positions accounted for a positive impact of around 100 million euros.

The net balance of volume, model-mix and pricing effects was a headwind of 900 million euros compared to the first quarter of 2024.

The pricing headwind compared to Q1 2024 reflects the global price environment and especially the challenges of the highly competitive Chinese market.

In China, the price levels of the second half of 2024 continued into the first quarter, as expected.

Accordingly, Q1 revenues per vehicle in the Automotive segment were below the level of Q1 2024.

For the full year, they are expected to be in line with last year’s level.

Ladies and Gentlemen,

I emphasized at our Annual Conference that for the year 2025, not only R&D expenditure and capex, but also operational costs will decrease compared to 2024.

Our Q1 results provide first evidence for this cost decrease in nominal terms, covering the effects of inflation.

Research and development expenses were around 200 million euros lower than in Q1 2024.

Based on Group R&D expenditure, the R&D ratio according to the German Commercial Code came in at 5.9 percent.

Sales and administrative expenses also decreased year-on-year by about 200 million euros, mainly due to lower IT costs.

In Other Cost Changes, the headwind of 300 million euros essentially results from two topics:

• The income from the resale of end-of-lease vehicles was lower than in the first quarter of 2024, yet remains positive on average across the portfolio.
• The anti-subsidy tariffs imposed by the EU Commission on electrified vehicles from China impacted EBIT in the low three-digit million euros range in Q1.

The other tariff increases only started to come into effect from early March and therefore had minimal impact on the Q1 results.

SLIDE 6: Automotive Segment Free Cash Flow in Q1

Free cashflow in the Automotive Segment totalled about 400 million euros in the first quarter of 2025.

Segment EBT amounted to 1.9 billion euros, which is 800 million euros lower than in the first three months of 2024.

The net change in working capital contributed around 100 million euros to free cashflow.

Inventories rose during the first quarter, as production exceeded retail sales and wholesale volumes.

While this is typical first quarter seasonality, this year’s Q1 stock increase is much less pronounced than in previous years.

The impact of increased inventories as well as of higher trade receivables was compensated by the development of trade payables, which increased also due to higher production levels.

The net effect from capital expenditure and depreciation reduced free cashflow by 600 million euros.

This includes a positive component with invest lower than depreciation in the first quarter.

On the other hand, it also incorporates a higher cash outflow of 964 million euros in Q1, which is related to the capex peak in the last quarter of 2024.

Capital expenditure for January to March amounted to around 1.2 billion euros, a year-on year reduction of around 100 million euros.

The capex ratio for the first quarter was 3.6 percent.

For the full year 2025, capex will decrease compared to 2024, with an expected capex ratio below 6 percent.

The development of provisions reduced free cash flow by 200 million euros.

The change in the position other, which includes regular tax payments, led to a reduction in free cashflow of around 800 million euros.

For the full year, the BMW Group is targeting a free cashflow above 5 billion euros in the Automotive segment.

At the end of the first quarter, the Automotive net financial assets came in at 45.5 billion euros, which is around the same level as at the end of 2024.

This provides a solid foundation to navigate the current challenges in global markets.

And it enables us to distribute our Automotive Free Cashflow via dividends and share buybacks.

Ladies and Gentlemen,

The BMW Group remains committed to its shareholder return strategy, which includes both dividend payments and share buybacks.

On April 3rd, we successfully concluded the fourth and final tranche of our second share buyback program.

With completion of this program, we have repurchased shares valued at 4 billion euros since the start of our share-buyback authorization in 2022.

This corresponds to a reduction in share capital of over 7 percent.

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

SLIDE 7: Financial Services Segment in Q1

Moving on to the Financial Services Segment.

The number of new contracts concluded with retail customers decreased slightly by 4.6 percent year-on-year to reach almost 403,000 contracts.

For new vehicles, new business units were on par with last year’s quarter.

Consequently, the penetration rate for lease and loan offerings increased by 1.2 percentage points to 43 percent.

For used vehicles, new business units decreased moderately, due to the lower number of end-of-lease vehicles that were returned compared to the first quarter of 2024.

New business volume grew by 2.4 percent to 16 billion euros, driven by a higher average financing amount per contract.

Segment earnings for the first quarter amounted to 650 million euros, a year-on-year decrease of 80 million euros.

This results mainly from two factors:

• The lower income from the resale of end-of-lease vehicles due to reduced average gains per unit.
• And the lower number of returned vehicles compared to 2024.

The credit loss ratio across the entire loan portfolio remained at a low rate of 0.23 percent.

SLIDE 8: Motorcycles Segment in Q1

In the Motorcycles Segment, first-quarter deliveries decreased slightly by 3.9 percent year-on-year.

EBIT for the first three months totalled 76 million euros, with an EBIT margin of 9.4 percent.

SLIDE 9: Outlook 2025

Ladies and Gentlemen,

Let’s move to our outlook for 2025.

Our guidance given at the Annual Conference on March 14th included all the tariff increases in force as of March 12th.

Since then, political and macroeconomic volatility has increased even further.

Due to ongoing developments and negotiations, the expected effects from tariffs on 2025 results can only be estimated based on certain assumptions.

The tariff increases that started to come into effect from early March will have a notable impact on the Q2 results.

We assume that some of the tariff increases will be temporary and that there will be reductions from July 2025.

Our guidance also includes measures to mitigate the impact of higher tariffs.

Based on these assumptions, our guidance parameters for the full year remain unchanged.

Group earnings before tax are expected to be at previous year’s level.

In the Automotive segment, we are forecasting a slight increase in deliveries.

The EBIT margin is expected in a corridor between 5 and 7 percent.

The EBIT margin in the Motorcycles Segment should come in at between 5.5 and 7.5 percent.

In the Financial Services Segment we are targeting a Return on Equity (RoE) in the range of 13 to 16 percent for the full year.

SLIDE 10: Q1 Performance in Line with Expectations

Ladies and Gentlemen,

The BMW Group delivered as expected in the first quarter with an EBIT margin at the upper end of our full-year target corridor.

The geopolitical and macroeconomic uncertainty has reached a level we have rarely seen before.

We are closely monitoring the impact of the current macroeconomic conditions on consumer sentiment.

It is therefore all the more important that we continue to follow our long-term strategic plan.

This includes using the flexibility of our global network to mitigate the impact of the current developments.

And it includes disciplined spending – be it R&D, capex or operating costs.

As we walk the talk, nominal cost reductions are already visible in our Q1 figures.

Our clear long-term strategy, our strong brands and products and the high level of cost discipline throughout our entire organisation remain the basis for our long-term financial success.

Thank you.

- Check against delivery –

Ladies and Gentlemen,

As a global player, the BMW Group operates within the current tensions of world politics. Like many sectors of the global economy, we are adjusting to a new reality – one in which abrupt changes in external conditions often have far-reaching consequences, not just for our industry.

In these circumstances, it is critical not to get caught up in the public frenzy or rush into hasty actions. That is why we continue to focus on our long-term strategic course with pragmatism and flexibility.

And this approach is proving its value: Despite the volatile conditions, the BMW Group has started 2025 in line with our expectations.

There are three main reasons for this:

First, our fresh and attractive product line-up across all drive technologies – which helped us achieve a robust performance, especially in Europe and the US.

Second, continued strong sales growth for our all-electric vehicles.

And, third, a high standard of cost discipline across the company.

All of this meant that, despite various influencing factors, our profitability for the first quarter was in the upper half of our guidance.

Let's take a closer look at the details:

In all major sales regions outside of China, we increased our sales, compared to the same period of last year. Excluding China, sales grew by almost six percent (5.9%).

This confirms the effectiveness not only of our product strategy, but also of our technology-open approach. Our vehicles are in demand, across all types of drivetrain.

We saw particularly good growth in Europe and the US – with sales in Europe up solidly by more than six percent and an increase of four percent in the US.

We are growing steadily across the entire Americas region, with growth of over 5 percent. We are also growing overall in our markets outside Europe, America, and China by 15 percent. Thanks to our strong performance in other markets, we were able to nearly offset the persistent challenges in the Chinese market.

We have the right products on the market at the right time. Our wide range of all-electric vehicles across all brands allows us to take full advantage of the growing demand for pure electric vehicles.

The more than 32-percent increase in BEV sales underlines the strong appeal of our electric vehicles. Above all, high demand in Europe fuelled this growth in BEVs. Here, sales of fully-electric vehicles climbed by more than 64 percent year-on-year. E-mobility “made by BMW” is also gaining popularity in the US, with sales up by more than 23 percent.

Nearly one in five vehicles sold by the BMW Group is now fully-electric.

The total share of electrified vehicles – that is, pure electric cars plus plug-in hybrids – now exceeds 25 percent.

MINI, in particular, is benefiting from the strong demand for all-electric vehicles. Today, an electric heart beats in one out of every three vehicles built by the brand. With all models of the New MINI Family now fully available, the brand recorded sales growth of four percent. In China, locally-built electric models played a key role in the brand’s growth of over 18 percent.

The share of fully-electric vehicles in total sales is especially important for meeting European CO2 targets. In 2024, the BMW Group once again significantly outperformed its European CO2 fleet target. Based on internal calculations, our numbers came in at under 100 grammes per kilometre in the WLTP cycle for the first time. We are confident that we will meet the original legal requirements this year as well.

In addition to the growth in all-electric vehicles, we also benefited from continued high demand for our sporty BMW M models – with sales up 5 percent in the first quarter. High-performance models such as the two BMW M5* variants and the BMW M3* were the main growth drivers.

Ladies and Gentlemen,

The first quarter of 2025 highlighted our company’s ability to seize opportunities in a challenging environment and to successfully defend our position in the marketplace.

Looking ahead, new orders across all drive technologies give us every reason for confidence – especially in Germany, where we are seeing significant growth.

Nevertheless, 2025 remains a year of high volatility. We are closely monitoring developments and preparing for different scenarios. This will enable us to respond flexibly and quickly to changing circumstances. We remain firmly committed to deliver robust results and to meet our ambitious annual targets.

Free trade and international cooperation are important drivers of growth and progress. They have always guided our actions. In trade conflicts, on the other hand, nobody wins. All sides should therefore avoid a spiral of isolation and trade barriers, and instead promote growth, progress and innovation worldwide.

We are advocating for this at various political levels in our markets. Thanks to our international footprint and strong, long-term commitment in various countries, we enjoy a high level of credibility. That is why people listen to us attentively and our arguments are well received.

Ladies and Gentlemen,

It is especially important in challenging times that we continually assess the situation in our markets and regions. That is why I have spent significant time in the past few months gathering information about the situation on the ground in our most important markets.

Just two weeks ago, I was at Auto Shanghai. This trade show provides a valuable indicator for current trends – especially for the Chinese market.

One of the highlights was the world premiere of our BMW Vision Driving Experience, or VDX for short. This is the most powerful development prototype BMW has ever built. The key data speaks for itself:

• 18,000 Newton meter of torque.
• 1.2 tonnes of Downforce.
• Lateral forces of up to 3 g.

These are the kind of numbers you usually only see in top-of-the-range racing cars.

The VDX is a pure test vehicle, designed to push the limits of driving physics. However, many of its technologies will be used in our NEUE KLASSE.

In particular, the VDX showcases the performance capabilities of our “Heart of Joy” – one of four high-performance computers that will control key functionalities, such as driving dynamics, automated driving and infotainment in our NEUE KLASSE.

The “Heart of Joy” clusters all drivetrain and driving dynamics functions in a single, standardised electronic control unit. In combination with our dynamic performance control system – which was developed entirely in-house – we are redefining the BMW brand’s most fundamental core characteristic.

We are creating “the next level of Sheer Driving Pleasure”.

We demonstrated exactly what this means with an incredible live performance in Shanghai. For this purpose, we built our own test track with a massive ramp.

The public and trade press were more than impressed with the performance and possibilities unleashed when we combine our decades of experience in driving dynamics with cutting-edge control technology. This is something only we at BMW can do.

Our customers will benefit directly from this – because a system that can manage forces like these can also handle everyday operations with ease: not just in terms of agility and driving stability, but also efficiency and comfort.

Towards the end of the year, series production of the NEUE KLASSE will begin at our new plant in Debrecen, Hungary – starting with the BMW iX3*, which will celebrate its world premiere at the IAA MOBILITY in Munich.

After that, the rollout will continue in rapid succession. In 2026, production of a sporty sedan at the heart of the BMW brand will get underway at our main plant in Munich.

We are deliberately launching the NEUE KLASSE in high-volume segments, so that our innovations can immediately have a broad impact.

Between now and 2027, we will release more than 40 new or updated BMW models onto the market – from BEVs, to plug-in hybrids, to vehicles with combustion engines. All of these will benefit from the technologies of the NEUE KLASSE – and, of course, from the new design language as well.

No other manufacturer has a project as comprehensive and ground-breaking as ours ready for production.

Ladies and Gentlemen,

With its broad product portfolio across all brands, its technology-open approach and highly flexible production network, the BMW Group is in an excellent position to exploit growth opportunities as they arise.

Thanks to our global footprint, we are also able to respond quickly to changes in individual regions, as well as challenges around the world.

We will continue to build on these typical BMW strengths in future.

Thank you.

Paris. Poursuivant son partenariat de longue date avec l'un des événements automobiles classiques les plus prestigieux, BMW s'associe une nouvelle fois au Tour Auto pour sa 15ème année consécutive. Du 7 au 12 avril, BMW accompagnera les concurrents sur les routes françaises reliant Paris à Nice en tant que partenaire officiel, célébrant un demi-siècle d'existence de son emblématique Série 3 et mettant en lumière ses dernières nouveautés, notamment la très attendue BMW M3 CS Touring, ainsi que la version Touring de la BMW M5.

Le Tour Auto, rétrospective du légendaire Tour de France Automobile, offre un subtil mélange de découverte touristique et de compétition sportive. Chaque année, cet événement emprunte un parcours renouvelé sillonnant les routes secondaires françaises, ponctué d'épreuves chronométrées sur routes fermées et circuits qui déterminent le classement final. Devenu l'un des rendez-vous incontournables du sport automobile historique à l'échelle mondiale, le Tour Auto n'accueille que des voitures classiques ayant participé au Tour de France Automobile entre 1951 et 1973. Les concurrents s'affrontent dans deux catégories distinctes : "compétition" ou "régularité". Pour cette édition 2025, près de 240 voitures de sport d'exception traverseront les routes de l'Hexagone. Au départ de Paris, Dijon, Mulhouse, Clermont-Ferrand, Villeneuve-lès-Avignon et enfin Nice seront les villes étapes. Les concurrents s’affronteront sur les circuits de Dijon-Prenois, de l’Anneau du Rhin ainsi que les circuits de Bresse et de Charade.

Pour encadrer les équipages, BMW mettra à disposition de l'organisateur Peter Auto près de 50 véhicules de sa gamme destinés à la logistique, à l'assistance rapide et aux liaisons, avec pour la première fois quelques modèles 100% électriques intégrés à la flotte. Parmi les véhicules, la nouvelle BMW M4 CS sera confiée à Ari Vatanen, l'un des ouvreurs sur les épreuves spéciales et ambassadeur de la marque BMW.


50 ans de la BMW Série 3 : une icône intemporelle.

En 2025, BMW célèbre un demi-siècle d'existence de sa légendaire Série 3, un modèle emblématique qui s'est imposé comme une référence incontournable des berlines compactes sportives. Depuis son lancement en 1975, la BMW Série 3 a su conquérir les cœurs des passionnés de conduite grâce à son design intemporel, ses performances exceptionnelles et son caractère sportif indéniable.

Née du projet E21 sous la direction du designer Paul Bracq, la première génération de la Série 3 se distinguait par ses lignes tendues et élégantes, ainsi qu'un châssis affûté offrant une répartition idéale des masses et une propulsion arrière. Dès son apparition, cette berline compacte a séduit par ses performances de premier ordre, son comportement routier dynamique et sa qualité de fabrication irréprochable, consolidant la position de BMW sur le marché des berlines sportives premiums.

Dans les années 80, la sportivité de la Série 3 s'est incarnée dans la légendaire M3, née pour la compétition. Avec son moteur rageur et ses performances redoutables, elle a rapidement conquis les circuits du monde entier, remportant de nombreux succès. Génération après génération, la BMW M3 a su se réinventer tout en conservant son ADN sportif. Aujourd’hui encore, la BMW M3 continue de faire rêver les amateurs de performances pures.

Au fil des générations, la BMW Série 3 a su évoluer sans renier son ADN, conservant ce savant équilibre entre sportivité et polyvalence. Des lignes intemporelles aux technologies innovantes, chaque itération a marqué son époque tout en préservant l'essence même de cette icône automobile.


Nouvelle BMW M3 CS Touring : premiers tours de roues en France sur les routes du Tour Auto 2025. 

C’est en 1987 que la BMW Série 3 propose sa première déclinaison Touring sur la base de la génération E30. À l'occasion du 50^ème anniversaire de BMW M GmbH en 2022, BMW a dévoilé la première BMW M3 Touring, répondant à la promesse traditionnelle de BMW M, à savoir un style dynamique, une agilité et une précision combinés à une polyvalence illimitée au quotidien et à une capacité à parcourir de nombreux kilomètres. Digne héritière d'une des lignées les plus emblématiques de l'histoire automobile, la toute nouvelle BMW M3 CS Touring fera ses grands débuts sur les routes du Tour Auto 2025. En complément des équipages engagés dans la compétition en régularité, et comme un lien naturel avec le présent, des médias de tous horizons participeront aux différentes étapes du Tour Auto à son volant. Cette nouvelle édition spéciale CS (pour « Competition Sport ») inédite est dotée d'un moteur six cylindres en ligne de 405 kW/550 ch, de réglages de châssis sur mesure, d'éléments de design exclusifs et d'un allégement résultant de l'utilisation de nombreux composants en plastique renforcé de fibres de carbone (PRFC). Cette version exclusive et limitée de la BMW M3 Touring est produite à Munich en Allemagne et continue de perpétuer la tradition de performances routières inédites et de polyvalence au quotidien.


Nouvelle BMW M5 Touring : dernière représentante de BMW M GmbH dans le segment des modèles hautes performances électrifiés.

La nouvelle BMW M5 Touring dévoilée en 2024 est au cœur de cette édition du Tour Auto 2025. Elle incarne l’héritage de BMW M GmbH tout en ouvrant la voie vers un avenir électrifié.  Cette troisième génération de BMW M5 Touring se caractérise par un système d'entraînement M Hybrid, combinant un moteur V8 et un moteur électrique pour une puissance maximale de 727 ch (535 kW) et un couple de 1 000 Nm. Équipée d'une batterie haute tension de 18,6 kWh, ce modèle peut parcourir jusqu'à 67 km sans émissions locales. Offrant un parfait équilibre entre polyvalence au quotidien, performances époustouflantes et autonomie en mode électrique, cette BMW M5 Touring se distingue par sa facilité d'utilisation, son dynamisme exceptionnel et sa précision inégalée. La transmission M Steptronic à 8 rapports, la transmission intégrale M xDrive, le différentiel actif M et la technologie de châssis sophistiquée sont spécifiquement adaptés à ce système de propulsion hybride. Aux côtés de cette BMW M5 Touring, la BMW i4 M50 xDrive, version 100% électrique la plus puissante de la gamme Série 4 Gran Coupé, développant 544 ch et atteignant les 100 km/h en 3,9 secondes, pour une autonomie de 416 à 520 km sera également à découvrir sur le parc fermé de chaque étape sur le stand BMW.

Pour plus d’informations, merci de contacter :

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

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

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

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

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

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

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

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

Class G
Vanishing act: Gone but proudly not forgotten

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

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

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

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

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

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

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

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

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

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

Davide Bertilaccio, CEO Villa d'Este Hotels:

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

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

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

Keep up to speed via the following channels:

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

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

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

BMW Group Classic Media Server for downloads: 

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

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

- Check against delivery –
 
Statement
Oliver Zipse
Chairman of the Board of Management of BMW AG
Annual Conference 2025
BMW Welt in Munich, 14 March 2025, 08:00 a.m. CET
 
Part I:
 
Good Morning, Ladies and Gentlemen.
 
Welcome to our annual conference.
 
2025 will be a milestone year for the BMW Group in many respects – as we set the course today for our success in the decade to come.
 
Despite volatile global conditions, we remain firmly committed to growth in the current financial year. At the same time, we are bringing our largest future-focused project, the NEUE KLASSE, to the roads.
 
We have a clear plan: We remain sharply focused on innovation and sustainable growth. In 2025, we expect sales figures to rise once again. At the same time capital expenditure will decrease, as planned. This will enable us to increase our free cash flow.
 
There are four reasons for our confidence:
 
 
First:
Our strategy is robust and gives us a clear path forward. We are setting the pace in key areas. Our technology open approach remains successful and is gaining more traction. Policymakers and competitors are pivoting in our direction – which we continue to pursue systematically.
 
Second:
The BMW Group is one of our industry’s few true global players. Our extensive global footprint creates opportunities. It makes us resilient. And it provides the flexibility we need to respond effectively to external influences.
 
Third:
With BMW, MINI, Rolls-Royce and BMW Motorrad, we have four strong brands. All of them are incredibly popular around the globe. Each has its own distinct identity and delivers emotionally compelling products for different target groups.
 
And fourth:
Our NEUE KLASSE: No other manufacturer has a project as ambitious and ground-breaking as ours about to enter production. I will come to this in the second part of my presentation.
 
Let's start with the first topic: our strategic direction.
Our technology-open approach is market-oriented. It allows us to fully leverage the available potential across all markets and regions.
 
We make no distinctions – whether we are talking about combustion engines, plug-in hybrids, all-electric vehicles or, from 2028, a hydrogen-powered car. We consistently implement design principles, innovation and the latest technologies in all our vehicles.
 
No one masters this technological diversity better than we do. Numerous national and international accolades confirm this.
 
Our approach is also gaining increasing recognition in political circles. Even our competitors are pivoting towards our strategy. We have proven that technological openness, growth and CO₂ reduction are very much compatible.
 
Let’s take a look at 2024:
 
We met our adjusted targets for the year. We delivered more than 2.45 million vehicles and achieved an EBIT margin of 6.3 percent in the Automotive Segment.
 
Our vehicles with highly efficient combustion engines remain in strong demand worldwide. At the same time, battery-electric vehicles continue to be our main growth driver.
 
Several other manufacturers – including some that only produce electric cars – saw a decline in sales. But we achieved growth with our all-electric vehicles. Even in challenging market conditions. In 2024, BEV sales once again climbed significantly year-on-year – increasing by more than 13 percent.
 
Fully-electric vehicles accounted for over 17 percent of total sales last year. Including plug-in hybrids, nearly one in four vehicles sold was electrified.
 
We are targeting further growth in e-mobility in 2025. We will hit two major milestones this year: We will reach the total of more than three million electrified vehicles and over 1.5 million BEVs sold since the launch of the BMW i3 and BMW i8.
 
Our customers can choose between over 15 BEVs across all our brands. One example is the new edition of the BMW iX*: The recently presented model update boasts an impressive electric range of over 700 kilometres in the WLTP cycle – with significantly more drive power.
 
That is BMW EfficientDynamics.
Our combination of electrified vehicles and highly efficient combustion engines also has a positive impact on our climate footprint. In 2024, the BMW Group once again outperformed its European CO2 fleet target – by more than 30 grammes. Based on our internal calculations, our fleet emissions fell below 100 grammes per kilometre in the WLTP cycle for the first time.
 
We will continue to ensure that our customers always have access to the latest technology – across all drivetrains. The key to achieving this lies in our production network’s high level of flexibility.
 
That brings me to my second point:
our global footprint.
 
The BMW Group is a true global player. Very few automotive manufacturers have such a comprehensive presence across all relevant economic regions as we do. Be it in sales, research and development, production or our supplier network. This combination gives us a strategic advantage that sets us apart from the competition in an increasingly fragmented world.
 
We remain committed to expanding our local for local approach. We are constantly improving our access to different market regions and strengthening our resilience, especially along supply chains.
One example of this is our high-voltage battery assembly plants in the three major sales regions: Europe, the Americas and China. In total, five new assembly facilities for the next generation of high-voltage batteries are being built near our production sites worldwide – complete with a local supplier network. In this way, we are already creating the necessary conditions today for successful growth in the future.
 
We are gradually adapting our production network to rising sales of electric vehicles. Late this year, our new plant in Debrecen, Hungary will become our first facility to exclusively produce all-electric vehicles. Our main plant in Munich will follow in 2027.
 
Our production follows the market and our product range aligns with demand. We build roughly the same number of vehicles in our three key market regions of Europe, the US and China as we sell there. This balanced distribution is another key differentiator for the BMW Group.
 
At the same time, Germany and the US serve as key export hubs for us. In 2024, we manufactured over one million vehicles at our plants in Germany. This represents about a quarter of the country’s total car production. 56 percent of these vehicles are then exported outside the European Union.
An impressive proof of the BMW Group's significant contribution to industrial value creation in Germany.
 
In the US, one out of every two vehicles from our Plant in Spartanburg, South Carolina, is exported. Last year, we achieved an export value of over 10 billion US dollars. This once again makes the BMW Group the largest automotive exporter in the United States by value. We benefit from an integrated global economy. That is why we continue to advocate for open markets and free trade.
 
Third point: the performance of our brands.
 
The success of the BMW Group is built on the global appeal and resonance of our four brands. At the same time, we know how to fulfil the specific needs and preferences of our customers in different markets with our products.
 
Last year, our core BMW brand leveraged its strength to the full: In three out of four regions, BMW grew sales and gained market share. This has enabled BMW to maintain its number one position in the global premium segment.
 
BMW performed particularly well in Europe. Italy, Spain, France and the UK led the way, with all reporting double-digit growth rates.
With a six-percent increase, the brand significantly outperformed the overall European market, which only grew by just over one percent.
 
In the US market, we achieved record sales for the second consecutive year. Here, too, the strength of our market-driven approach to drivetrains is delivering results. Thanks to our steadily growing BEV portfolio, we sold more than 50,000 electric vehicles in the US for the first time. With this momentum, we are optimistic about the year ahead, as we celebrate “50 years of BMW North America”.
 
In our markets outside the main sales regions, we also posted growth, in a declining environment overall. In this region, we lead the premium segment in total for the first time ever. The main growth drivers here included the South Korean, Australian and Indian markets.
 
China remains a key market for the BMW Group. In 2024, we sold more than a quarter of all our vehicles there. The market is highly dynamic and characterised by increased competitive pressure. In this environment, BMW maintained nonetheless its position as the number one in its segment with a market share of three per cent. This put us within our target range.
 
In 2024, we delivered over 100,000 BEVs to customers in China for the first time. This makes China our biggest single market for electric vehicles – even though our sales performance there was dampened last year by persistently low consumer sentiment.
 
The high-margin vehicles built by BMW M once again played an important role in our market success in 2024. For the 13th consecutive year, M sales increased. Nearly one in ten BMWs sold carried the letter M. Demand for the sportiest BMW models has continued to grow, especially in China.


2025 is the first year with the complete New MINI Family available. And we will exploit this potential.
 
There are a total of five unique models to choose from – three of them BEVs. The fully-electric MINI models – with the MINI Cooper Electric* leading the way – are being particularly well received. With an increase of 24 percent year-on-year, sales of MINI BEVs also saw highly dynamic growth last year. Nearly one in four MINIs is now powered by an electric heart.
 
In the ultra-luxury segment, Rolls-Royce continues to set the benchmark. At more than 5,700 units, Rolls-Royce sales remain high.
Most notably, the all-electric Spectre exceeded expectations in its first full year of sales. Every third Rolls-Royce sold is now fully-electric.
 
BMW Motorrad also impressed in 2024, achieving a new all-time sales high of over 210,000 units. BMW Motorrad remains the undisputed number one in the global premium motorcycle segment.
 
Ladies and Gentlemen,
 
All of this shows that the BMW Group is well positioned across all brands, drive technologies and segments to continue on its growth path. With our global approach, we have the right answers to challenges worldwide. This has often enabled us to offset fluctuations in demand in individual markets.
 
Now, it is time for Walter Mertl to present the Group Financial Statements for 2024 and look ahead to our goals for 2025.

 
Part II:
 
Ladies and Gentlemen,
 
Growth and innovation – these are two of the main topics we will be focusing on this year. At the same time, we stand on the threshold of a new era.
 
Late this year, we will launch our NEUE KLASSE: a project that is unprecedented in both form and significance in the history of the BMW Group.
 
With the NEUE KLASSE, we will be turning the mobility of the future into reality. Driving dynamics, drivetrain, battery technology, operating concept, digitalisation: We have refined each of these aspects and, in the case of design, even skipped a generation.
 
In this way, we are redefining not only the BMW brand, but also the future of individual mobility.
 
Standing here next to me is the BMW Vision Neue Klasse X: the series version of this vehicle will kick off the NEUE KLASSE. Production will ramp up at our new plant in Debrecen late this year.
After that, the rollout will continue in rapid succession, including a sporty sedan at the core of the BMW brand in 2026.
 
We are deliberately starting out in high-volume segments: We want our innovations to have a broad impact, not just in niche segments.
 
Between now and 2027, we will release more than 40 new or updated BMW models onto the market – from electric to plug-in hybrid to vehicles with combustion engines. Each will have the DNA of the NEUE KLASSE.
 
The NEUE KLASSE is BMW and BMW is the NEUE KLASSE.
 
The NEUE KLASSE is more than just a single vehicle. It marks the beginning of a completely new generation and introduces our technology boosters for the entire brand. Regardless of the drive technology, all future BMW models will benefit from the technologies of the NEUE KLASSE – and, of course, also from the new design language.
 
Allow me to share a few examples of our groundbreaking advances in technology:
 
With the BMW Panoramic iDrive, we are re-imagining our typical BMW driver orientation. The all new BMW Panoramic Vision is the centrepiece. This newly-developed additional Head-Up Display projects content across the full width of the windscreen.
 
Seamless integration of various display and operating elements enables a completely new level of intuitive interaction. From the launch of the very first model of the NEUE KLASSE, all future BMW models will come with BMW Panoramic iDrive.
 
The sixth generation of our BMW eDrive technology will make e-mobility even more appealing to our customers. The new BMW round cells promise 20 percent higher energy density, 30 percent faster charging and at least 30 percent more range. And within just 10 minutes, enough energy for another 300 kilometres can be recharged.
 
For the first time, the Gen6 high-voltage batteries also feature the latest 800-volt technology and enable bi-directional charging. Compared to the current fifth generation, we will reduce the cost of the high voltage battery by 40-50 percent, on a comparable electric range basis.
 
The electronics architecture has also been completely redesigned. Going forward, its four high-performance computers will control key customer functionalities. For example driving dynamics, automated driving and infotainment.
 
These “super-brains” deliver more than 20 times the in-vehicle computing power than current systems. This makes our models future-proof for software and function updates, as well as new AI features.
 
We have also greatly simplified the electrical system, dividing it into four zones, with intelligent control. 600 metres less wiring, a 30 percent reduction in weight and a 20 percent increase in energy efficiency are just some of the improvements we will achieve with this.
 
And, of course, we are also harnessing technical opportunities to take driving dynamics to a whole new level.
 
The BMW Vision Driving Experience showcases the potential of the technologies introduced in the NEUE KLASSE. We are pushing driving dynamics to its physical limits.
 
This highly emotional driving machine will thrill more than just BMW fans.
 
The VDX is the most powerful development prototype BMW has ever built. We are using it to test our “Heart of Joy” – one of the four super-brains in the NEUE KLASSE.
 
We developed the software for the driving dynamics control system entirely in-house. This will be used in all future electric BMW models, setting new standards for dynamic performance and efficiency.
 
It is hard to put into words exactly how it feels behind the wheel. You simply have to experience it.
 
Take a look for yourselves at what our “Heart of Joy” can do, paired with a maximum torque of 18,000 Newton meters.
 
You can't fake that kind of enthusiasm. Our Board of Management already had the chance to drive the series version of the NEUE KLASSE. Let me tell you: We were all equally excited about the driving experience – but not just in terms of pushing the physical limits. Most importantly, we were deeply impressed by the added value our technologies create for our customers in everyday situations.
 
This is truly the next level of Sheer Driving Pleasure.

Ladies and Gentlemen,
 
We first announced the NEUE KLASSE at our Annual Conference back in 2021. Today, just four years later, we are entering the final stretch.
 
Standing next to me is one of the prototype vehicles we have been producing in Debrecen since late last year.
 
What is still hidden under camouflage foil here will be unveiled at the IAA MOBILITY in Munich in early September. There we will present the production model that will be available to our customers.
 
I can already reveal one key detail to you today: this BMW will be released onto the market as the BMW iX3. This is how we continue the success story of the first all-electric BMW X model that has won over BMW fans worldwide since 2020.
 
Testing of the BMW iX3 is in full swing.
 
These impressions show that the next BMW iX3 is a typical X model, and a BMW through and through. As I’m sure you saw at the end of the film: The final phase of development for the sporty sedan, the second NEUE KLASSE vehicle, is also progressing rapidly.
Ladies and Gentlemen,
 
What has always set the BMW Group apart is that we keep our sights set on operational performance in the here and now. At the same time, we lay the foundation for our long-term future success.
 
We will continue to consistently pursue our BMW path – with foresight, customer focus, self-confidence and in the knowledge of our strengths.
 
We are ready. More than ever.
 
Thank you.
 

Ladies and Gentlemen,

Good morning!

SLIDE: BMW Group in Full-Year 2024

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

The BMW Group proved this once again in Q4 2024:

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

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

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

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

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

2024 was a year of two halves:

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

SLIDE: BMW Group KPIs in FY24

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

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

SLIDE: BMW Group Segment Performance in FY24

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

SLIDE: Automotive EBIT Development in FY24

Looking to the operating result in detail:

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

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

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

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

SLIDE: R&D Expenditure in FY24

SLIDE: Capital Expenditure in FY24

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

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

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

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

SLIDE: Automotive Segment Free Cash Flow in FY24

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

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

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

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

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

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

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

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

SLIDE: Financial Services Segment in FY24

Moving on to the Financial Services Segment.

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

SLIDE: Proposed Dividend and Payout Ratio

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

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

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

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

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

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

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

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

Looking to the market development:

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

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

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

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

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

SLIDE: Outlook 2025

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

Let me focus on selected guidance parameters.

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

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

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

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

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

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

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

SLIDE: Closing

Ladies and Gentlemen,

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

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

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

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

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

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

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

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

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

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

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

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

Highly intelligent central control unit: the BMW Energy Master.

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

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

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

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

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

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

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

Production of the Energy Master at BMW Group Plant Landshut.

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

Different recycling processes within the value chain.

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

Innovative direct recycling at the BMW Group.

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

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

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

Neue Klasse additionally incorporates ASM technology.

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

Extensive improvements to EESM technology.

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

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

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

Modular concept provides crucial advantage for manufacturing electric motors.

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

The Gen6 electric drive systems: made in Steyr.

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

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

BMW Group Plant Landshut – a multi-talented component manufacturer.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Keep up to speed via the following channels:

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

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

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

BMW Group Classic Media Server for downloads:

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

Le programme BMW ART MAKERS.

Chez BMW Group, les relations entre l’homme et la machine, la créativité et l’innovation, l’accompagnement et l’engagement sont des valeurs fondamentales.

L'accompagnement est au cœur de l'approche de l'entreprise. BMW, mécène, suit de près les artistes dans leur processus créatif, respecte leur liberté d'expression, les encourage à oser et leur fournit les moyens matériels et financiers nécessaires à la réalisation de leurs projets.

L'engagement de BMW envers la culture est une évidence. Soutenir les arts ouvre un dialogue émotionnel avec la société, donnant tout son sens à cette démarche. L'aspect humain est central dans cette approche.

Cette liberté de création est essentielle tant pour les artistes que pour BMW. Elle permet aux uns de produire des œuvres uniques et aux autres de développer des innovations de rupture pour une mobilité plus durable et plus responsable.

Dans le cadre du programme BMW ART MAKERS,l'entreprise souhaite adresser les enjeux sociétaux dans le cadre de ses engagements culturels.

Les projets artistiques devront :

• Proposer une scénographie pensée sur l'ensemble de son cycle de vie ;
• Faire preuve de sobriété dans l'utilisation des ressources ;
• Questionner ou apporter un regard artistique sur les enjeux sociétaux actuels.

La recherche et l'expérimentation ne sont que le point de départ du projet artistique. Une fois réalisé, BMW Group France fera rayonner le projet à travers des événements de portée internationale dans le monde de l'art, tels que les Rencontres d'Arles et Paris Photo*.

BMW ART MAKERS : un programme de soutien dédié à l’art expérimental et visuel de tous les possibles. 

« Face à la volatilité du monde dans lequel nous vivons, la création a besoin du soutien durable de mécènes engagés. C'est pourquoi nous avons créé le programme BMW ART MAKERS, afin d'offrir une opportunité aux talents innovants du monde de l'image. Ce programme invite les artistes à porter un regard alternatif sur notre environnement et les grands défis sociétaux. Un regard libre, à travers l'expérimentation et la réalisation d'un projet artistique visuel et multiforme. Ainsi, BMW Group France entend permettre aux artistes d'explorer de nouvelles perspectives, dans un esprit d'ouverture et d'innovation. » Vincent Salimon, président du directoire BMW Group France

Le programme BMW ART MAKERS, soutient des projets basés sur l’image contemporaine pouvant explorer toutes ses dimensions et formes (photo, film, vidéo, image digitale, virtuelle), les choix et recherches de supports, les techniques de reproduction, et réseaux de diffusion.

BMW ART MAKERS : une bourse et un budget de production pour un duo artiste-curateur ayant choisi de réaliser un projet artistique commun.

Deux têtes pensantes valent mieux qu’une. BMW ART MAKERS réunit et soutient, dans le cadre de son appel à projets, un (e) artiste visuel émergent (e) et un (e) curateur (trice), qui doivent postuler ensemble. La force d’un duo à la fois solide et complice, cette association se fonde sur la confiance et l’émulation indispensable pour mener à bien un projet d’envergure depuis la première pensée jusqu’à l’œuvre finale. Tout comme l’artiste, le ou la curateur (trice) représente un élément fondamental dans la mise en œuvre du projet artistique ainsi que dans sa réalisation effective et concrète.

C’est la première fois qu’un programme de cette envergure permet à un (e) curateur (trice) d’être soutenu (e) par une bourse d’accompagnement d’un projet dans les arts visuels aux côtés d’un (e) artiste. Il ou elle exerce les fonctions de directeur (trice) artistique, scénographe, designer, et est garant (e) de la réalisation du projet dans les conditions d’exigence artistique, de délai et de budget décrits dans l’appel à candidatures.

BMW ART MAKERS : un mentorat unique avec les membres du jury. 

Et parce que les grandes idées ont besoin d’être bien entourées pour se réaliser, les membres du jury opérant la sélection des projets, sont également mentors pendant le processus de création. BMW Group France remercie vivement ces figures incontestées du monde de l’art d’avoir accepté ce rôle avec enthousiasme pour hisser le projet et l’œuvre au plus haut niveau.

Le jury de l’édition BMW ART MAKERS 2024 était constitué de personnalités qualifiées du monde de l’art :

• Pascal Beausse, directeur des collections du Centre National de la Photographie, critique d’art et commissaire d’exposition
• Florence Bourgeois, directrice de Paris Photo
• Hervé Digne, président de POUSH Manifesto
• Fannie Escoulen, cheffe du Département de la photographie, ministère de la Culture
• Christophe Ono-dit-Biot, écrivain
• Chantal Nedjib, conseil en image par la photographie
• Christoph Wiesner, directeur des Rencontres d’Arles
• Maryse Bataillard, responsable de la communication corporate et RSE de BMW Group France

BMW ART MAKERS : un soutien financier et matériel.

Et parce que les grandes idées ont besoin d’être financées et réalisées, BMW Group France offre :

• Une bourse d’un montant de 10 000€ à l’artiste.
• Une bourse d’un montant de 8 000 € au curateur.
• Un budget de 15 000 € pour la recherche et la production des œuvres.
• La production d’une exposition personnelle intégrée au programme d’événements prestigieux tels que Paris Photo et les Rencontres d’Arles*.
• Un mentorat par les membres du jury.
• Un accompagnement en communication.

BMW ART MAKERS : Penser, créer et surtout… faire exister.

La recherche et l’expérimentation ne sont que le point de départ du projet artistique. Une fois réalisé, BMW Group France fera rayonner le projet à travers des événements ayant une résonnance internationale dans le monde de l’art comme les Rencontres d’Arles et Paris Photo*.

Pour répondre à l’appel à candidatures.

Les candidats peuvent postuler jusqu’au 4 décembre 2024 à 23h59 sur la plateforme dédiée .

Retrouvez plus d’informations sur notre compte Instagram.

Téléchargez le règlement BMW ART MAKERS en cliquant ici.

ATTENTION : Les dossiers incomplets ne seront pas étudiés

Les duos nominés seront contactés mi-décembre pour présenter leur projet devant le jury et le duo lauréat sera annoncé le 20 décembre 2024.

*expositions dans ces événements non contractuelles, le programme pourrait changer sur décision de BMW Group France

ANNEXE : Précédent lauréats du BMW ART MAKERS

En 2022, Arash Hanaei & Morad Montazami, premiers lauréats du BMW ART MAKERS. Ils ont proposé le projet « Hantologie suburbaine ».

Ce projet a interrogé les utopies architecturales des années 1970, tout en explorant les nouveaux espaces complexes comme le métavers.
Entre images fixes, vidéo et design 3D, le duo a proposé une installation hybride immersive : des dessins numériques ou Big Data Drawings, l’hologramme extrait de la maquette du bâtiment de l’Étoile d’Ivry de Jean Renaudie, la vidéo polysémique Unblocked Avatars, et une partie d’échecs virtuelle entre Mark Zuckerberg et le philosophe Mark Fischer.

En 2023 l’artiste Eva Nielsen et la curatrice Marianne Derrien ont été désignées lauréates de la deuxième édition du BMW ART MAKERS avec le projet INSOLARE.

INSOLARE est une nouvelle expérimentation et a été conçue spécialement pour les Rencontres d’Arles et Paris Photo.
Leur démarche à la fois poétique et scientifique interroge le temps et la sédimentation du paysage urbain et Camarguais. Avec ce projet, le duo évoque les mutations de l’environnement aboutissant à la disparition de certains paysages urbains, industriels et naturels, où l’empreinte de l’humain est toujours en cause.

En 2024, l’artiste Mustapha Azeroual et la curatrice Marjolaine Lévy sont les troisièmes lauréats du BMW ART MAKERS avec le projet The Green Ray.

The Green Ray propose de rendre visible à l’œil ce qui est invisible.

Mustapha Azeroual enregistre la lumière du soleil au lever et au coucher, pour capturer une palette de couleurs correspondant au territoire où il effectue sa prise de vue. En résulte des images abstraites issues de cette expérience optique.

Pour le BMW ART MAKERS, Mustapha Azeroual s’intéresse à la prise de vue de l’astre solaire en haute mer, territoire qu’il n’a jamais exploré jusqu’alors. Afin de limiter les déplacements, il délègue à une communauté de marins la prise de vue d’après un protocole.

The Green Ray souhaite démontrer qu’une autre abstraction est possible s’inscrivant dans les enjeux et problématiques de notre société car la couleur du ciel fluctue notamment en fonction de l’activité humaine.

Munich/Paris. Au Mondial de l'Auto 2024, MINI présente une mobilité électrique efficiente et survitaminée. Du 14 au 20 octobre 2024, les visiteurs pourront découvrir le large portefeuille de modèles électriques du constructeur. Avec les premières mondiales de deux MINI John Cooper Works entièrement électriques, MINI expose pas moins de cinq modèles 100 % électriques à Paris. Les nouveautés frappées des lettres « JCW », partageront le stand du Pavillon 4 avec les MINI Cooper SE, MINI Aceman SE et MINI Countryman SE ALL4.

Des performances de premier ordre, une conduite purement électrique.

Les nouveaux modèles MINI John Cooper Works entièrement électriques.

Avec les premières mondiales de deux voitures purement électriques, MINI John Cooper Works transpose la longue histoire de la marque, acquise en compétition, dans le présent avec une puissance inédite. Les deux modèles transfèrent sans effort, du circuit à la route, le savoir-faire de la marque en sport automobile. Outre le design sportif exclusif et l’aérodynamique optimisée pour une consommation d'énergie réduite, les fans de MINI peuvent se réjouir de la maniabilité caractéristique que présentent ces modèles.

La famille MINI 100 % électrique.

MINI Cooper SE, MINI Aceman SE et MINI Countryman SE ALL4.

La MINI Cooper SE (consommation combinée : 14,7 - 14,1 kWh/100 km selon WLTP ; émissions de CO2 combinées : 0 g/km ; classe de CO2 : A ; autonomie en km selon WLTP : 387 - 402), identifiable au premier coup d’œil grâce à son design iconique, offre un plaisir de conduite moderne transposant le « Go-Kart feeling » typique de MINI à l’ère moderne. Exposée aux côtés du nouveau MINI Aceman SE (consommation WLTP combinée : 14,0-14,8 kWh/100 km ; émissions de CO₂ combinées : 0 g/km ; classe de CO₂ : A ; autonomie en km selon WLTP : 382 – 405), la citadine 3 portes prouvera une nouvelle fois qu’elle est particulièrement à l’aise dans les zones urbaines et la capitale française.

Le crossover MINI Aceman, dernier né de la gamme MINI, offre cinq places sur un peu plus de quatre mètres de long. Avec son espace intérieur généreux, il se positionne entre la MINI Cooper et le MINI Countryman. Sur le stand, ces deux modèles urbains, seront également accompagnés par le MINI Countryman SE ALL4 (consommation combinée : 16,8 - 18,5 kWh/100 km selon WLTP ; émissions de CO₂ combinées : 0 g/km ; classes de CO₂ : A ; autonomie en km selon WLTP : 399 - 432), le modèle le plus polyvalent de la gamme MINI qui propose un coffre spacieux, une autonomie allant jusqu'à 432 km et une transmission intégrale ALL4.

Paris. BMW est fier d'être, depuis 17ans, partenaire officiel des Voiles de Saint-Tropez, l'un des événements nautiques les plus emblématiques au monde, qui réunit les plus beaux voiliers de tradition et modernes. Depuis sa création, Les Voiles de Saint-Tropez s'est imposé comme une référence mondiale dans l'univers des régates, attirant chaque année des passionnés de voile et des participants venus des quatre coins du globe.

Un partenariat pérenne, sous le signe de l’innovation et de la mobilité plus durable.

Pour BMW, ce partenariat incarne l'alliance parfaite entre l’élégance intemporelle et l’innovation de pointe en matière de mobilité plus durable, que l’on retrouve tant sur terre qu’en mer. Du 28 septembre au 6 octobre, BMW présentera sur son stand, à la Capitainerie du Port de Saint-Tropez, des exclusivités produits, des animations inédites, et une œuvre d’art réalisée spécialement pour les Voiles de Saint Tropez.

BMW mettra également à disposition des invités une flotte BMW Série 7 électrique et hybride rechargeable, son modèle le plus prestigieux alliant performance, luxe, et durabilité.

Des expériences exclusives pour les passionnés de voile, d’automobile et d’art contemporain.

Lors de l'édition précédente, BMW avait fait sensation en présentant "THE ICON", son bateau révolutionnaire entièrement électrique, doté de la technologie "foil".

Cette année, la marque est fière de dévoiler en exclusivité en France, le BMW Concept Skytop, luxueux coupé deux places à ciel ouvert, au design futuriste, conçu pour inspirer l'envie de voyager.  Ce concept allie les caractéristiques classiques d’une voiture de luxe, celles de l’artisanat de précision et des éléments issus de la haute technologie.

« Nous sommes ravis de nous associer pour la 17ème année consécutive aux Voiles de Saint-Tropez, un événement qui incarne nos valeurs d'élégance et de performance. Ce partenariat nous permet de partager notre vision de la mobilité de demain tout en soutenant un événement prestigieux célébrant la beauté et la passion de la voile » déclare Vincent Salimon, Président du directoire de BMW Group France.

Pour la première fois, BMW célèbre l’art aux Voiles de St Tropez, avec une œuvre collaborative :  l’artiste Mustapha Azeroual, lauréat du programme BMW ART MARKERS, a collaboré avec le célèbre navigateur et ami de la marque, Loïck Peyron, pour créer une œuvre inédite.

« The Green Ray 3 », est une abstraction optique aux couleurs changeantes et chatoyantes, réalisée à partir d’un protocole précis : l’artiste a demandé à Loïck Peyron de photographier les levers et couchers de soleil les plus spectaculaires en haute mer, lors d’une course en Méditerranée à l’été 2024. Azeroual a prélevé des pixels de couleurs afin de reconstituer des paysages atmosphériques qui capte avec poésie et délicatesse les variations colorées célestes au sein de cet espace infini dompté par les marins, favorisant la rêverie contemplative pour les spectateurs.

Informations Pratiques

BMW Lounge,  port de la Capitainerie, Saint-Tropez

Exposition du 28 septembre au 6 octobre, tous les jours de 9h à 21h

• The Green Ray : dans le cadre du programme de mécénat BMW Art Makers, Mustapha Azeroual présente une œuvre abstraite, optique et inédite créée spécialement pour les Voiles de Saint Tropez avec la collaboration du navigateur émérite, ami de la marque BMW, Loïck Peyron.
• BMW Concept Skytop : un concept car vraiment unique et exclusif qui offre une combinaison de dynamique de conduite et d'élégance au plus haut niveau, comparable à ses ancêtres historiques, comme la BMW Z8 ou la BMW 503.
• BMW XM : ce modèle hybride rechargeable (PHEV) est le premier modèle depuis la légendaire BMW M1 à être conçu exclusivement par BMW M GmbH. LE BMW XM allie dynamisme, luxe innovant et design extravagant aux proportions musclées et aux contours puissants.

- Check against delivery –

Ladies and Gentlemen,

Good morning,

SLIDE 2: BMW Group Half-Year Report to 30 June 2024

The BMW Group remains on track and confirms its targets for 2024, despite the volatile market environment.

After a successful start to the year, we again achieved an EBIT margin for the Automotive Segment within our full year target range of 8-10 percent in the second quarter, thanks to our attractive product portfolio.

At the same time, we are continuing to invest in our future model line-up and securing the company’s long-term competitiveness.

SLIDE 3: Highlights of BMW Group Performance in Q2 2024

As of June, BMW Group global sales remained on par with last year.

The BMW brand grew by 2.3 percent globally or 6.2 percent if we exclude the Chinese market.

Global growth drivers are our all-electric vehicles and models from the upper premium segment, both of which saw a double-digit increase.

The Group EBT margin came in at 10.5 percent for the second quarter and 10.9 percent for the first half-year.

The Automotive EBIT margin reached 8.4 percent in the second quarter and 8.6 percent for the half-year, both within our full year target range of 8 to 10 percent.

Excluding the depreciation resulting from the purchase price allocation of BBA, the margins came in at 9.4 percent for the second quarter and 9.6 percent through six months.

Ladies and Gentlemen,

The BMW Group is committed to maintaining its strategic focus.

We have a clear plan and a long-term strategy that we are implementing systematically.

At the same time, we remain highly flexible in our execution and are able to respond swiftly to market developments.

This enables our operating business to deliver consistently good results.

SLIDE 4: BMW Group in Q2

Let’s take a look at the financial figures in the second quarter in more detail, starting with a brief overview of the Group.

BMW Group revenues were on par with the previous year.

Group earnings before tax totalled around 3.9 billion euros, resulting in a Group EBT margin of 10.5 percent.

SLIDE 5: Automotive Retail Units, BEV Units, Auto Revenue and Auto EBIT

On this slide you can see how the Automotive Segment performed across key figures.

In the second quarter, the BMW Group delivered approximately 619,000 BMW, MINI and Rolls-Royce vehicles to customers.

The BMW brand reported sales growth of 2.2 percent.

MINI, on the other hand, saw a significant decrease from the previous year, due to the planned model changeover across the entire product range.

However, in the second half of the year, the brand will benefit from the ramp-up of the New MINI Family, with the Countryman* and Cooper*, both available in several drivetrains, as well as the all-electric Aceman*.

We continue to see sales growth of our all-electric vehicles.

The BMW Group delivered about 108,000 BEVs to customers in the second quarter. This represents 17.4 percent of our total sales.

Our electrified vehicles – in other words, BEVs, plus plug-in hybrids – accounted for almost 24 percent of total sales in the second quarter.

Segment revenues increased slightly by 1.4 percent.

Adjusted for currency translation effects, revenues saw an increase of 2.1 percent.

The significant growth in all-electric vehicles and models from the upper premium segment contributed to this. The current trend is also expected to have a positive effect on revenues for the remainder of 2024.

Revenue per wholesale unit across the entire product portfolio is expected to be in line with last year’s level.

EBIT for the period from April to June totalled 2.7 billion euros.

The EBIT margin came in at 8.4 percent for the quarter and 8.6 percent for the half-year.

Excluding the depreciation resulting from the purchase price allocation of BBA, the EBIT margin was 9.4 percent for the second quarter and 9.6 percent through six months.

That brings me to the EBIT bridge, to explain in more detail the changes in the operating result, compared to the second quarter of the previous year.

SLIDE 6: Automotive Segment EBIT in Q2

The net balance of currency and commodity positions provided a tailwind of 500 million euros over last year’s second quarter.

For the full year 2024, we anticipate a positive net balance from currency and commodity positions.

This is expected to nearly offset material cost headwinds. However, we see additional requests for supply chain support.

The net balance of volume, model mix and pricing effects in the second quarter was about 300 million euros lower year-on-year.

Volume development and the model mix made a positive contribution to this.

The global price environment for new and used cars continued to normalise in the second quarter.

The Chinese market, in particular, remains highly competitive.

For the full year 2024, we expect the net effect from volumes, model mix and prices to be neutral over last year.

Research and development expenses increased by about 100 million euros compared to the prior-year quarter.

The BMW Group's research and development expenditure remained at a high level through the end of June, totalling almost 4.2 billion euros.

The R&D ratio according to the German Commercial Code was at 5.7 percent after the first six months.

The capitalization ratio for development costs, which is relevant for R&D costs according to IFRS, was 34 percent in the second quarter and 30.8 percent as of June.

Selling and administrative expenses increased by around 100 million euros compared to the previous year, primarily driven by personnel costs and expenses for IT projects.

The headwind of 200 million euros from Other Cost Changes can mainly be attributed to manufacturing costs. Here, inflation in material costs continues to have an impact.

SLIDE 7: Automotive Segment Free Cash Flow in Q2

Free cash flow in the Automotive Segment totalled 1 billion euros in the second quarter.

The change in working capital, amounting to 500 million euros, is largely due to the planned increase in inventory levels. This ensures we can continue to meet global demand for our products in the second half of the year.

The net effect from capital expenditure and depreciation reduced free cash flow by 400 million euros in the second quarter.

Total investments for April to June amounted to around 2.6 billion euros.

The capex ratio came in at 5.8 percent for the second quarter and 4.7 percent for the half-year.

As in the previous years, the major share of capital expenditure will occur in the second half of the year and especially in the fourth quarter.

We expect a capex ratio of more than six percent for the full year.

Changes to provisions positively impacted free cash flow in the second quarter by around 100 million euros.

The change in the position Other of around 800 million euros mainly reflects regular tax payments.

After the first six months, Automotive Segment free cash flow had reached just over 2.3 billion euros.

The difference in free cashflow compared to 2023 is due to the capex increase of around 1 billion euros.

We expect to see a positive contribution from a reduction in working capital.

For the full year, we are targeting a free cash flow of over six billion euros.

Since 2022, we have made a paradigm shift in our shareholder return strategy by adding a share buyback programme that supplements our annual dividend payout.

In doing so, we have increased the payout ratio of Automotive Free Cashflow by paying dividends in our target corridor of 30 to 40 percent as well as using the share buyback program.

BMW AG is continuing with its share repurchase programme as planned. At the end of June, it had acquired shares equivalent to 5.51 percent of the existing share capital as of June 30th.

The second tranche of the second programme, totalling 500 million euros, was completed in June.

The third tranche of 500 million euros, which began in June, will be concluded no later than December 31st.

By the end of 2024, BMW AG will have repurchased shares valued at 1.5 billion euros as part of the second programme, which amounts to 2 billion euros.

SLIDE 8: Net Financial Assets

Ladies and Gentlemen,

The BMW Group has a solid and robust balance sheet, confirming the company's considerable financial strength.

This is also underscored by our net financial assets in the automotive business, which totalled just over 43 billion euros.

Starting with the Half-Year Report 2024, we are changing the way we report net financial assets in our automotive business.

In addition to the Automotive Segment’s NFA that was previously reported, the new figure also includes the NFA of holding companies within the Other Entities Segment, which receive regular distributions from their subsidiaries.

I trust that this new, comprehensive definition of Net Financial Assets provides you with useful additional information.

SLIDE 9: Financial Services Segment in H1

Let’s move on to the Financial Services Segment.

Here, the positive trend in new business continues – for financing of both new and used vehicles.

A total of about 850,000 new leasing and credit financing contracts were concluded in the first half-year. This represents a significant increase of 16.5 percent year-over-year.

The volume of new business, encompassing all new credit financing and leasing contracts, climbed 18.2 percent to around 32 billion euros.

This positive development in new business is also reflected in the portfolio. The total value of all contracts managed surpassed 143 billion euros for the first time.

Segment earnings amounted to just under 1.5 billion euros. This year-on-year decrease of 13.1 percent resulted mainly from lower income from the resale of end-of-lease vehicles, which reflects the continued normalisation of the used car market.

During the reporting period, the credit loss ratio for the entire credit portfolio was 0.25 percent (2023: 0.15 percent).

The segment’s overall business performance was better than anticipated. For this reason, we are raising our full-year guidance for Return on Equity (RoE) from a range between 14 and 17 percent to a range between 15 and 18 percent.

SLIDE 10: Motorcycles Segment in Q2

In the Motorcycles Segment, second-quarter deliveries increased by 2.6 percent compared to the prior-year quarter.

EBIT in the second quarter totalled 110 million euros, with an EBIT margin of 11.1 percent.

SLIDE 11: Outlook 2024

Ladies and Gentlemen,

the BMW Group is on course to meet its targets for the year.

The market development in China in the first half of this year has not met our expectations.

We expect that the various measures taken by the government, including the cut in lending rates in July, will lead to a stabilisation of the market starting in the third quarter.

Our overall business environment will remain challenging throughout the rest of the year.

Our guidance assumes that geopolitical and macroeconomic conditions will not deteriorate.

Group earnings before tax will decrease slightly.

We expect to see a slight increase in demand, with sales in the Automotive Segment slightly higher than the previous year. The percentage of all-electric vehicles will increase significantly.

We are targeting an EBIT margin between 8 and 10 percent and a Return on Capital Employed (RoCE) between 15 and 20 percent.

Deliveries are projected to increase slightly in the Motorcycles Segment. The EBIT margin should come in between 8 and 10 percent, with a Return on Capital Employed (RoCE) between 21 and 26 percent.

In the Financial Services Segment we are now forecasting a Return on Equity (RoE) in the range of 15 to 18 percent for the full year.

SLIDE 12: BMW Group with Consistent Strategy and Focused Execution

Ladies and Gentlemen,

The BMW Group is pursuing a clear strategic approach, focused on long-term success.

Our company maintains a globally balanced footprint. We are leveraging this balance and the high flexibility of all our systems to mitigate market volatility and consistently provide our customers with the best products to suit their needs.

We continue to systematically implement our electrification and digitalisation strategy and make targeted investments in our future model line-up.

In 2024, we are setting a decisive course for our future. Research and development spending and capital expenditure will therefore respectively peak, as planned.

We expect our R&D ratio for the full year to exceed five percent, with a capex ratio of more than six percent.

Despite these high upfront investments, we were still able to deliver a solid financial performance in the second quarter, thanks to our attractive product range.

Across global markets, we are carefully steering our performance in line with individual market conditions.

At the same time, we are maintaining a high level of cost discipline.

Whether manufacturing costs, fixed costs, or capital expenditure: at the BMW Group, we have always constantly optimized our cost structures and will continue to do so.

I am confident that our clear long-term strategy, combined with focused execution in our operational business, will keep us competitive and successful – both now and in the future.

Thank you.

- Check against delivery –

Ladies and Gentlemen,

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Supply chain management is increasingly critical to success.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

We adapt quickly and effectively as conditions evolve.

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

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

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

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

Thank you.

Munich/Cannes. Des avant-premières scintillantes, des stars sur le tapis rouge et un véhicule unique qui ne ressemble à rien d'autre : voilà ce qu'est le Festival de Cannes, qui a accueilli hier la première mondiale de la BMW XM Mystique Allure. Basée sur l’extravagante BMW XM, cette création unique, inspirée par le top model britannique Naomi Campbell, a été conçue avec des matériaux exclusifs issus du monde de la haute couture et est dotée d'une bande sonore unique conçue en collaboration avec le compositeur de musique de film Hans Zimmer.

La BMW XM Mystique Allure est le dernier produit issu de la collaboration entre BMW et Naomi Campbell. Le partenariat a fait ses premiers pas l'année dernière avec la campagne de lancement "Dare to be You" pour la BMW XM, qui met en avant la confiance d'être soi-même et de suivre sa propre voie.


La BMW XM Mystique Allure et Naomi Campbell : une entrée remarquée à Cannes.

Le 77^ème  Festival de Cannes était le cadre idéal pour la première mondiale de la BMW XM Mystique Allure. Dans le cadre magnifique de la station balnéaire française, Naomi Campbell a présenté la création unique qu'elle a inspirée à un public d'invités triés sur le volet, avant de se rendre en voiture sur le tapis rouge à l'extérieur du Palais des Festivals et des Congrès. "Témoigner de la vision de BMW pour la BMW XM Mystique Allure a été vraiment incroyable", déclare Naomi. "Je me sens très honorée d'avoir été la source d'inspiration de leur tout premier show-car de haute couture, qui est un chef-d'œuvre unique à tous points de vue."

C'est la troisième année consécutive que BMW devient le partenaire automobile officiel du Festival de Cannes. Les organisateurs et les invités disposeront d'une flotte de véhicules haut de gamme électrifiée. La flotte exclusive de navettes qui conduira les stars et les VIP sur les routes autour du Palais des Festivals et des Congrès sera également disponible pour les organisateurs du festival et certains de ses partenaires officiels. Elle comprend plus de 200 véhicules, dont les BMW i7, BMW iX et BMW i5 entièrement électriques, ainsi que la BMW XM dotée d'un système de propulsion hybride rechargeable.


Première BMW conçue avec des matériaux de haute couture.

La BMW XM Mystique Allure est le premier véhicule de l'histoire de la marque à être conçu avec des matériaux issus de l'industrie de la haute couture. Cette collaboration inhabituelle présente la BMW XM sous un nouveau jour : expressive, avant-gardiste, élégante et luxueuse à la fois.

Inspiré par la couleur préférée de Naomi, l'extérieur du véhicule arbore une teinte ultramarine profondément saturée, accentuée par une finition mate et brillante. Traduction contemporaine de matériaux de haute couture provenant de fabricants de textiles de luxe, le design associe harmonieusement l'intérieur à l'extérieur, avec un riche velours et des paillettes métalliques Frozen scintillantes, dans des teintes allant du violet intense à l'outremer profond.

Les surfaces iridescentes ont été créées grâce à un travail manuel précis et à un sens aigu du détail. Elles s'inspirent des formes géométriques accrocheuses de la BMW XM et apportent une richesse visuelle particulière à l'esthétique extravertie de la voiture. Le design de la BMW XM Mystique Allure est le point de rencontre de la haute performance et de la haute couture, et peint une image unique de luxe progressif qui se prolonge à l'intérieur. Toutes les surfaces à l'intérieur de la voiture, y compris le M Lounge à l'arrière, sont recouvertes de velours violet.


BMW IconicSounds Electric : une ambiance sonore émotionnelle issu de la collaboration avec Hans Zimmer.

L'apparence audacieuse de la BMW XM Mystique Allure est complétée par un caractère acoustique qui lui est propre. Son cœur est une adaptation sur mesure du système BMW IconicSounds Electric développé dans le cadre de la collaboration entre BMW Group Sound Design et le compositeur de musique de film Hans Zimmer.

L’ambiance sonore créée pour la voiture offre une expérience de conduite hautement émotionnelle et s’associe à merveille à l’allure visuelle magnétique de la BMW XM.


La BMW XM : le modèle de série le plus puissant de BMW M GmbH.

La BMW XM est le premier modèle depuis la légendaire BMW M1 à être conçu exclusivement par BMW M GmbH. Elle allie dynamisme, luxe innovant et design extravagant aux proportions musclées et aux contours puissants. Les optiques divisés en deux parties, l'éclairage de contour Iconic Glow de la calandre BMW, les bandes d'accentuation le long des flancs de la voiture, les jantes en alliage léger jusqu'à 23 pouces et les sorties d'échappement superposées verticalement et de forme hexagonale intégrées dans la jupe arrière confèrent à l'extérieur de la XM une présence visuelle inimitable.

La groupe motopropulseur M HYBRID de la BMW XM fournit une puissance totale de 653 ch (480 kW - générée par la combinaison du moteur à combustion d'une puissance maximale de 489 ch (360 kW) et de la motorisation électrique d'une puissance maximale de 197 ch (145 kW)). Il est soutenu par un nouveau moteur V8 à haut régime, doté de la technologie de pointe M TwinPower Turbo. Le moteur de 4,4 litres est doté d'un collecteur d'échappement transversal et d'un dispositif de séparation d'huile optimisé.

Le moteur huit cylindres est assisté dans sa tâche par un moteur électrique intégré à la transmission M à huit rapports. La puissance de propulsion du moteur est immédiatement disponible lors des démarrages et répond sans hésitation à chaque pression sur l'accélérateur. Le système de propulsion M HYBRID produit un couple global maximal de 800 Nm (moteur pouvant atteindre 650 Nm combiné à un moteur électrique développant jusqu'à 280 Nm). 

- Check against delivery –

Strong today – Strong tomorrow.
Our BMW way into the future

Dear Shareholders!

A warm welcome from BMW Welt in Munich. A lot of people talk about the transformation of mobility and the automotive industry – how one will replace the other. At BMW, we do things a little differently. We call it: continuous progress. 

Becoming a little bit better every day – that is what we aspire to. And what I, myself, am measured against. Never being satisfied with the status quo brings us closer to our ambitious goals. Step by step. Or, more fittingly, when talking about cars: mile by mile. That may sound very grounded and methodical, but it certainly yields highly effective results.

We always look to the future. That is part of BMW's vast array of experience. It gives us strength and empowers us, time and again, to take bold action: We know what we are capable of! That is why BMW is still here after 108 years. 

The film showed our Board of Management – but we are only as good as our global team. Together, we bring our combined know-how to the roads – in a very literal sense. There are currently more than 150,000 of us worldwide – representing nearly every nationality there is, united by the BMW Spirit. In autumn of last year, we surveyed all our associates around the world: 85 percent said they fully support the company’s goals and strategy. And even 93 percent are proud to work for the BMW Group.

What a boost for us!

We are mobilising them all for the next massive leap, because your company is once again reinventing itself – at precisely the right time.

You, too, my dear shareholders, are part of our BMW team. Your support for our direction gives us the momentum and latitude we need to make decisions with a long-term perspective. This traces back to legendary entrepreneur Herbert Quandt. What a legacy! The next generation is carrying forward that legacy – much like we do at the company.

We always base our strategic decisions on facts and informed analysis. This certainly requires experience and, sometimes, plain common sense, as well. This makes your company robust and ensures that we remain composed in a turbulent environment. All of this comes together in the BMW way. This approach guarantees that the following always holds true for your company:

“Strong today – strong tomorrow”.

For financial year 2023: Should you approve our proposed dividend, you will receive a payout equivalent to 33.7 percent of our unappropriated profit. During the financial year, we had revised our guidance upwards. At year-end we met all our targets. We posted solid growth in sales, reaching a new all-time high of more than 2.55 million vehicles. In fact, we are the only German OEM to have regained our pre-pandemic level.

Our Group EBT margin of 11 percent came in higher than our strategic target of 10 percent. We are consistently performing at a high level, as confirmed by our EBIT margin in the Automotive Segment, which has been within our defined target range of eight to ten percent for the past nine quarters, including the first quarter of 2024.

This allows us to continue to make substantial investments.

Our capital expenditure, as well as our research and development spending, will peak this year. We will once again be making major investments – because our actions are always geared towards the future.

Individual mobility offers tremendous potential for profitable growth and gaining market share.

Today, let's take a look at how we continue to forge our BMW way –
in four chapters.

1. Future to the max: Turning visions into reality.
2. Following our own convictions: Technology openness is effective.
3. Global success today means acting regionally.
4. The car as digital companion: We are making mobility more human, more intelligent and more sustainable.

These focal points also shed light on the topics you requested through the shareholder portal.

Turning visions into reality.

This is the first topic I would like to talk about today.

What you see right here is nothing less than the future: pure BMW – taken to a whole new level. This is where all the big topics of future mobility come together: Electric. Fully digitalised. Sustainable.

For now, they are still Vision Vehicles – but they will be on the roads in a very similar form very soon. Last year, I promised you a new Vision Vehicle, which we then unveiled at the IAA MOBILITY. The BMW Vision Neue Klasse celebrated its premiere here in Munich. You’ll see right away that it’s a sporty sedan.

No other car at the IAA received as much media coverage and positive feedback – which is just one more reason to bring along another highlight for you today: The BMW Vision Neue Klasse X – a car that very clearly reimagines the BMW X philosophy in a totally new way.

Both vehicles will compete in high-volume segments – because we want our innovations to have a broad impact, not just in niche segments. Both vehicles underline that the NEUE KLASSE is consistent and broad at the same time.

Consistent – in terms of design, technology and sustainability. Broad – with respect to the other models that will follow.

These are the two bookends of the NEUE KLASSE – with lots of room in-between that we intend to exploit. And we deliver on our promises:

Within 24 months of the start of production, there will be at least six different models on the market.

Our industry has never seen speed quite like this before – but if anyone can do it, then it’s us at BMW. We are picking up the pace on a massive scale.

Our new plant in Debrecen, Hungary, will lead the way, with the launch of the first X model in late 2025. This will continue seamlessly in 2026 with the Sedan at our main plant in Munich, as well as Plant Shenyang in China. In 2027, the NEUE KLASSE will also ramp up in San Luis Potosí, Mexico.

Our customers ask: How far can I drive on electric power? How quickly can I charge my car?

We are able to tell them: at least 30 percent farther and 30 percent faster. In practice, this means that: It only takes ten minutes to charge your car for a 300-kilometre trip – hardly enough time to grab a coffee!

This is possible thanks to the new sixth-generation round cells.  We are using them for the first time in the NEUE KLASSE – which means you can look forward to an even higher-level “BMW driving experience”.

What might look like a Playstation is actually four super-brains, each integrating several highly intelligent control units. This opens up new possibilities – from powertrain and driving dynamics, to automated driving, to how we interact with our cars.

The most important aspect for our customers is: What does the NEUE KLASSE feel like on the road? The Board of Management already had the chance to drive the pre-series – and, believe me, it gave us goosebumps.

The magnitude of the technological wave we are unleashing becomes even clearer when you realise:

The innovations of the NEUE KLASSE will be incorporated into all BMW models in the coming years, regardless of their drive technology. In simple terms: Soon, all BMW technology will be NEUE KLASSE. The NEUE KLASSE is set to become our innovation and technology booster for all future areas of activity, including design.

We aren’t just taking mobility to a new level; the BMW Group is also becoming a NEW company. I believe this is entirely in your interest as our shareholders.

My second topic for today reflects our belief in the effectiveness of technology openness.

The heart of the NEUE KLASSE is electric – running on its own, new architecture. If demand for electric vehicles continues to grow as forecast, we will be able to leverage corresponding economies of scale.

But the world is a big place – which is why we continue to serve all markets with premium products. With us, everyone can find the right drivetrain to suit their needs. Anything else would be unwise from a business perspective.

Using technology clusters and modules enables us to be highly flexible. Think of it like this: We can roll out innovations and technological advances across all architectures and segments, and scale them efficiently.

We don’t distinguish between “old” and “new” vehicles – instead, we deliver cutting-edge technology across all areas. And, moreover, we offer the best overall package. This is what we aspire to – and it is perhaps the underlying secret of your company’s success.

Let me give you a current example: Following on from the new BMW 5 Series Sedan, the new BMW 5 Series Touring also comes in four drive technologies. The BMW i5* is all-electric, with an impressive everyday range of over 500 kilometres.

Plug-in hybrids also remain extremely popular. For the new BMW 5 Series, the PHEV variant could account for about 20 percent of our sales in Europe.

This shows we are right on track with our ten attractive PHEV models. And of course, the new 5 Series is also well received as a highly efficient combustion engine.

Focused technology openness is not something that is achieved overnight. You know my position: Building cars is a highly complex task. New market players are realising this too.

It is a strength of your company – and I believe it is also a unique selling point: The ability to master this complexity, seamlessly, and to effectively orchestrate, scale and further develop technologies.

Our sales figures confirm this: BMW is maintaining its leading position in the global premium segment. Our strongest growth last year came from the upper premium and luxury class, as well as our all-electric models, or BEVs for short. We delivered over 375,000 BEVs to customers in 2023 – an increase of almost 75 percent over the previous year. 

This dynamism is also reflected in our share of the global BEV market: At 4.1 percent, it is already significantly higher than our share of the total global market, which remains stable at 3.3 percent.

Demand for BEVs will continue to climb – although not in a linear fashion; it will be dynamic and market-specific. We reiterate this time and again – and it holds true in multiple markets.

We see e-mobility as the fastest-growing drive technology – today and in the future. By 2030, all-electric vehicles should account for about half of our deliveries. We remain committed to this goal and are steering the ramp-up in line with demand. We will stay flexible – even well into the 2030s.

We are aligning our strategic planning accordingly – and enabling our architectures. In this way, we can respond quickly at all times. More than 15 BEV models will be available this year across all BMW Group brands.

Here, you can see the MINI Aceman*.

In April, it celebrated its world premiere at AUTO CHINA. The Aceman is offered exclusively as a all-electric vehicle.

It fills the gap between the Cooper* and the Countryman*, which has now grown significantly in size. The new Cooper is already sold out – at least for the next four months. The only thing missing is the new MINI Convertible, which will be released in the second half of the year.

Together, these models form the NEW MINI Family, which is effectively the counterpart to the NEUE KLASSE at BMW: MINI's leap into the future.

And: We produce the New MINI Family worldwide: at our Spotlight joint venture in China; in Oxford, in the UK; and, for the first time, also in Germany, at Plant Leipzig.

We talked about bookends earlier. Now, with our brands, let's jump from MINI go-kart feeling to our luxury brand, Rolls-Royce. Spectre* certainly hit the ground running. What a phenomenal start! 

In the first quarter of this year, this model alone accounted for 38 percent of Rolls-Royce deliveries. That is how we do e-mobility in the luxury class. Spectre glides along effortlessly, like a flying carpet. Our luxury brand's vehicles have never been as compelling and as differentiated as they are today. And let’s not forget that they also earn a significant contribution margin for the company.

BMW Motorrad is also reporting profitable growth, having celebrated its centenary in September. German Chancellor Olaf Scholz attended the anniversary celebrations at Plant Berlin-Spandau.

We shared two major milestones with him:

First, the inauguration of the new “BMW Motorrad Welt”. What BMW Welt in Munich is to cars, we now also have in Berlin for our two-wheeled vehicles. Second, the world premiere of the R 1300 GS. Many people – myself included, as a motorcycle enthusiast – have been eagerly awaiting the next-generation GS. The trade press was practically euphoric about it.

For those who prefer an electric ride in the city, BMW Motorrad’s second electric model, the CE 02, is perfect.

Our core BMW brand also has a slew of upcoming, exciting vehicles, with 14 launches and numerous model variants this year alone.

The BMW 1 Series will be released onto the market in the compact class.

And we will launch the new BMW X3 – one of our most popular models overall. The new X3 will be available with a highly-efficient combustion engine and as a plug-in hybrid variant.

We recently presented our new and future vehicles to our retailers, including 1,500 retailers from all over Europe in Amsterdam. We did the same in Las Vegas for over 1,000 dealers from the Americas region. I got the sense at both events that our retailers are genuinely excited about what is to come.

Especially for Europe, I have to stress: The retailers will remain by our side in the new sales system – that won’t change. We are already using direct sales for MINI in China and reporting positive experiences in the first European countries. We will be transitioning the BMW brand to the new direct and fully digitalized sales model in Europe from 2026, as planned.

You, our shareholders, also wanted to know:

How are we progressing with hydrogen?

Our BMW iX5 Hydrogen* is currently on a world tour, undergoing real-life testing. It is very well received, everywhere it goes. Our pilot fleet is raising awareness of hydrogen's role in the energy transition – both for mobility and across industries. You rightly expect us to meet the European Union's CO₂ requirements.

In 2023, the BMW Group significantly outperformed the CO₂ fleet limit set for us by the EU by more than 20 percent. This year, we expect to see another slight reduction, with all brands and drivetrain variants contributing.

Technology-centric, with a clear focus on e-mobility – we are always consistent in our actions: This is how we are reshaping perception of your company.

What the New York Times writes is precisely researched.

In March, the New York Times praised our drivetrain strategy as far-sighted and consistent. It described BMW as a “winner in electric vehicles” – and Tesla's only serious competitor. We can certainly live with that. People expect us to consider things carefully and come up with practical solutions – because we consistently demonstrate our ability to do so.

In part three, I’ll look at the reasons for our global success – which, now, more than ever, requires us to act regionally. If you look closely, your company stands out as one of the automotive industry's few “truly” global manufacturers.

Something like this has to grow systematically – and we have been expanding our footprint for this purpose over the decades.

Let me give you three examples:

China – our biggest single market; Europe – our most important sales region; the US – our “second home”:

First: China, where we employ about a fifth of our workforce. It is – after Germany – our second-largest R&D location. BMW enjoys a high level of trust there – and not just among our own customers. We are highly regarded as a company, because we enter into serious, long-term commitments.

This year, we are celebrating 30 years “at home in China” and more than two decades of commitment in Shenyang.

In April, we signed a new investment agreement with Liaoning Province, worth 20 billion renminbi or 2.5 billion euros. The Shenyang production site of our BBA joint venture is transforming into a BMW iFACTORY.

Also in April, I was part of German Chancellor Scholz's economic delegation to China. Shortly after that, I was in Beijing at AUTO CHINA, where Prime Minister Li Qiang visited precisely one non-Chinese manufacturer – and that was the BMW Group.

A phrase I hear a lot in China is “China speed”. This is a dynamic country – and we are picking up the pace to keep up: Just last week, our six-millionth vehicle produced in Shenyang since 2003 rolled off the assembly line. We only reached the five million mark about a year earlier. This means we turned out one million vehicles in just 15 months – that is true “China speed”.

Second: Europe.

We sell nearly a third of all our vehicles in the European Union, where we operate ten plants and maintain a broad supplier base. We all benefit from a united Europe – every single day – and should channel all our collective efforts into preserving it.

BMW maintains a global outlook. This is something the chair of the General Works Council and I have reiterated. We urge our associates to pay close attention whenever seemingly simple solutions are proposed for complicated issues.

Enjoying democracy means living democracy – and that includes participation, exercising your right to vote and raising your voice to stand up for democracy. That is why we have asked everyone to vote on June 9.

What applies to Europe, applies even more to Germany: We need the best minds – and the smartest minds think very carefully about where they want to go. That is why we support the “We stand for values” initiative.

In Germany, we have many debates about emotionally charged trigger points. There is broad consensus on meta-topics. This is how sociologist Steffen Mau describes it. His latest study comes to the conclusion: We are not a divided society.

As a result, we shouldn’t speak ill of our country and Germany as a location, but leverage our potential. I can only agree with that.

Third: the USA.

We refer to the US as our “second home”. Next year will be our 50th year in the United States.
In 2023, your company was once again one of the largest net exporters of vehicles from the US by value. Germany is the only place where we have a higher purchasing volume than the US, which currently totals 6.7 billion euros annually.

For over 25 years, we have been a local partner – particularly in South Carolina. Today, Spartanburg is our largest plant – and the whole of the surrounding region has grown with us.

China, Europe and the US: Three examples of how our local presence forges close ties with the regions and markets.

We are living proof that everyone benefits when people work together. That is also one of the reasons why your company continued to grow in all major regions of the world in 2023.

We do business around the globe – and benefit from an integrated global economy.

Now, our global world order is evolving – from a “unipolar world” to a “multi-polar world”, especially in the last 10-15 years. Authors like Carlo Masala talk about the highly integrated and largely self-sufficient economic areas now emerging. We remain committed to open markets and free trade.

I also say this with a view to the European Union's current deliberations over Chinese imports of electric cars. A 360-degree perspective would be better: 20 percent of all BEVs sold in Europe last year came from China; well over half were western brands, including BMW.

Protectionism triggers a spiral effect: Tariffs lead to new tariffs, with protectionism rather than cooperation.

My over 30 years of experience at BMW suggest that solutions come about when we reach out to one another – and when we are prepared to make compromises ourselves.

That is how we build a consensus that makes us stronger as a society and an economy and enables us to take action.

You are justified in asking how your company secures access to diversified, fragmented markets.

The answer is: by continuing to invest at local level. Also, by finding local solutions and partners for the upstream value chain.

“Local for local” is our recipe for success – and we are now applying this same principle to producing cells for the batteries needed for e-mobility.

Who has control over technological expertise and urgently needed raw materials? That is what decides the competitiveness of companies and economic areas. We locate production facilities for BMW high-voltage batteries close to our vehicle plants – in Hungary, the US and China. Just a few days ago, we laid the foundation stone for the high-voltage battery assembly in San Luis Potosí, Mexico.

The benefits for us are clear: Short transport distances and supply stability in the event of unforeseen events around the globe.

And to get really local: Have you heard of Irlbach-Straßkirchen in Lower Bavaria? It will supply Gen6 batteries for our plants in Bavaria from 2026 onwards. The process wasn’t entirely straightforward. Residents wanted to know: What are the benefits for our region? We engaged in in-depth discussions with them to build trust. Ultimately, an overwhelming majority voted in favour of the new BMW location.

As you can see: Global only works at local level – and this also applies to our supply chains.

We have learned in recent years how vulnerable and susceptible to disruption they can be. Take a guess: How many parts do you think our plants worldwide need to be supplied with every day? The answer is:
36 million. The right quantities have to be in the right place, at the right time, in the best quality.

Our digitalised “i Supply Chain” strategy ensures resilient supply chains.

Our “RiskHub” uses AI and data analytics to identify quality issues in the supplier network early. We also adopt a proactive approach to avoid supply bottlenecks.

You might already have heard of Catena-X. There’s tremendous potential here: Automotive manufacturers, suppliers and, soon, recyclers, are creating a shared data ecosystem that makes sprawling supply chains transparent and allows us to track the carbon footprint of individual components. The type, quantity and source of the raw materials installed can also be digitally documented, allowing us to “trace” them.

And we are about to embark on a pilot project: Plant Landshut produces the kidney grille for the BMW iX* – one component made of many individual components. We will be using data from Catena-X to measure the total carbon footprint of production.

Wherever we collaborate with suppliers, we do so as partners, always treating each other as equals. This is important to me.

Chapter four of my speech focuses on the car as a digital companion: We are making mobility more human, more intelligent and more sustainable.

The world of bits and bytes is highly dynamic. Digitalisation, hand in hand with artificial intelligence, is fundamentally changing how we experience mobility. The questions you submitted through the shareholder portal indicate that this interests you, too.

Intelligent, self-learning systems have long been part of our strategy for the automotive production of the future. You know this as BMW iFACTORY.

Digital added value can be experienced directly in our vehicles, but our approach here remains: Not everything that is possible also makes sense in a car.

Our Head-Up Display is a classic. 20 years ago, we brought this technology from the aeroplane into the car. Now, we are revolutionising this display concept in the NEUE KLASSE.

Take a look for yourselves: Our “BMW Panoramic Vision” uses the full width of the windscreen. Pure high-tech. But we also use digitalization to increase security. In this case, we reduce distraction while driving.

We have grown used to always getting the latest updates from our digital devices – and people expect the same from their cars. Over the air means we can update software in the vehicle at any time, without bringing it in to the workshop. We chose this route early.

Today, your company has the world’s largest fully upgrade-compatible fleet in the market. We can already reach more than 7.5 million vehicles. 

The BMW 5 Series sets the standard for automated driving. It is the first car in Germany to be approved for partially automated driving at speeds up to 130 km/h on motorways.

This means you can take your hands off the steering wheel while driving. Your car can also change lanes by itself, when you briefly glance in the side mirror. Active Lane Change Assistant with eye confirmation – a somewhat unwieldy name for a genuine world first.

Since March 2024, Highway Assist has also been available in the BMW 7 Series, X5, X6, X7, iX and XM*. That's level 2+.

The new BMW 7 Series does even more:

You can even temporarily turn your attention away from the road. It fascinates me, every time the car regulates its own speed, distance and tracking. That is Level 3 highly automated driving – available in the new BMW 7 Series since March. A digital driving experience needs to ensure the safety of all road users.

That is why your company only introduces mature technical solutions onto the road– no beta versions. No experiments at the expense of our customers. You can always rely on that.

Since summer 2023, we have been testing automated driving and parking functions all the way up to Level 4 fully automated driving at our new centre for automated driving in Sokolov in the Czech Republic.

Esteemed Shareholders,

The US publication Time Magazine and the online platform “Statista” analysed and compared 750 international companies: Your company did exceptionally well to make it into the top ten and was, in fact, the highest-ranked automotive manufacturer. 

Revenue growth, sustainability and employee satisfaction – many people consider these to be conflicting goals. We find a way to reconcile them.

Our markets are dynamic and the geopolitical environment uncertain. This impacts us – just like it does other companies.

You are counting on us to remain successful – and, indeed, we will! We have ambitious plans for the current financial year. We expect to see a slight increase in sales, compared to the previous year, as well as a significantly higher percentage of all-electric vehicles.

The first fourth months of 2024 show that we are on track for all key performance indicators.

As CEO of BMW, I travel the world a lot. Everywhere I go, I see not only how valuable individual mobility is for many people, but how essential it is.

My experience is also that the BMW Group is appreciated and recognised in all corners of the globe. All of this encourages us to continue forging our own BMW way.

We are able to withstand the headwinds when we have confidence in our direction – which we usually do.

Your company is part of the global community. We engage with it – and evolve in and alongside it. That is extremely important.

The BMW way is also about our capacity for resonance – a term from physics that is also used in sociology.

So, what do I mean by capacity for resonance?

I’m talking about our ability to perceive and understand our relationship with the world – in Germany and elsewhere. We pay attention to developments, absorb them – and give something back to society in return. 

This is a natural process we actively participate in and control.

We remain open to all input, but never allow ourselves to be influenced without careful consideration or emotionalised by trigger points. Above all, we avoid drifting aimlessly.

We are in permanent resonance with our evolving society – consciously and for our mutual benefit. And always focused on effectiveness.

The following therefore holds true for your company:

“Strong today – strong tomorrow”.

Another compelling reason for you to continue to stand by us!

Thank you.

- Check against delivery –

Ladies and Gentlemen,

The figures for the first quarter of 2024 underline once again that: Our strategy for long-term, profitable growth is robust and effective – especially in the dynamic environment in which we operate.

These conditions are the same for all players within our industry. However, there are currently three distinct groups of commercial actors, each with their own approach.

1. The newcomers: the ones who generate a lot of hype with single products. They often have only individual technological highlights, such as maximum performance, the largest range or the largest screen. 
It remains to be seen whether the overall package will meet high customer expectations, especially in the premium segment, over the entire lifecycle.
Additionally, they face the challenge of managing complexity as they scale up and expand. Market entry is also bought with aggressive price positioning.

2. Then, there are the established manufacturers, who are trying to copy these new players’ approach, but run the risk of losing their own identity.

3. And, finally, there are a number of manufacturers who are struggling to keep pace with change – and therefore remain entrenched in their traditional business models.

In this competitive space, the BMW Group continues to chart its own, balanced course.

And we remain true to ourselves.

We analyse and anticipate both current and future trends without prejudging the outcome. From this, we develop our strategic approaches. The ability to respond to market developments, customer needs and new technological approaches is essential.

This has earned us a leading position in e-mobility and, at the same time, allowed us to maintain consistently high profitability, even in a volatile environment.

For nine quarters in a row, our EBIT margin in the Automotive Segment has been within our target range of 8 - 10 percent or higher, like it was in the first quarter of 2023. Walter Mertl already explained the reasons for this.

Our development efforts are focused on technologies that deliver real added value for our customers. Decades of market experience have taught us what our customers want throughout the entire customer journey. We use this knowledge and our technological expertise to create the perfect overall concept.

This is not easy to replicate.

The BMW Group is also one of the few “true” global players in the automotive industry. From production, to sales, to suppliers – we are in a strong position in all major markets.

We have well established footprints in each region along with a local-for-local mindset.

This global approach is our greatest strength. It creates resilience, opens up opportunities and keeps us flexible.

We are building on this to leverage our business success – today and in the future.

A look at global regions shows that markets and customer demand continue to develop in a highly diversified way. Maintaining a presence in all major sales markets enables us to balance out these different trends.

Our unique BMW approach allows us to respond flexibly to changing demand, especially when it comes to drive technologies.

But let me be quite clear: We continue to ramp up e-mobility at a fast pace that our competitors can barely keep up with.

Just a few weeks ago, we hit an important milestone: Since the market launch of the BMW i3, we have delivered more than one million all-electric vehicles to customers. This confirms the appeal of our fully-electric product range.

This is also backed up by our current figures in the Chinese BEV market. With growth of more than 18% in China in the first quarter, BMW outperformed both the total market for electric vehicles and the electric premium segment.

This means: We are gaining segment share in the world’s biggest e-mobility market.

However, our success in China is not just evident from the numbers. The BMW Group is held in high regard there as a "local player".

I experienced this when I was part of the business delegation led by German Chancellor Olaf Scholz in April. And we were also very pleased that Premier Li Qiang took the time to visit the BMW Group stand at Auto China in Beijing.

We are confident about long-term economic prospects in China. We are therefore comprehensively preparing our joint venture BBA's production site in Shenyang for future vehicle models.

In late April, we signed a Memorandum of Understanding to this effect in Shenyang, for investments totalling around 2.5 billion euros.

Our highly diversified electric offering, across BMW, MINI and Rolls-Royce, is not just in demand in China, but worldwide.

With sales up by about 28 percent, fully-electric vehicles once again made an important contribution to the BMW Group's sales growth and earnings in the first quarter of 2024.

At Auto China, a few weeks ago, we presented two vehicles that will reinforce this trend:

the all-new fully-electric MINI Aceman* and an update to the electric BMW i4*.

The BMW i4 comes straight from the heart of the BMW brand and is a success story in its own right. People love its combination of e-drive, design and signature driving dynamics – all the things they associate with the BMW brand.

More than 80,000 customers bought a BMW i4 last year – making it one of the best-selling BEVs in the entire premium segment.

MINI is also continuing on a path that is just as brand-authentic and modern.

The “New MINI Family” is a real game changer that reimagines the brand's unique British heritage in an entirely new way for the future.

The all-electric MINI Aceman brings fresh impulses. With this latest addition, the New MINI Family now features three models that serve different segments and appeal to new customer groups.

This will enable us to continue and expand the MINI success story in our global markets.

Our growth and economic success today are laying a solid foundation for the future.

We are investing more than ever in developing new products, efficient technologies and automated driving functions, as well as in digitalisation.

As the biggest single investment in the history of the company, the NEUE KLASSE shows how we are redefining the BMW brand for the future.

From design, to drive trains, to totally new forms of digital interaction between human and machine – the NEUE KLASSE represents a massive leap into the future across virtually all fields of technology.

All future BMW models will benefit from this – regardless of their drive technology. In this way, we are able to ensure that our customers always have the latest technology on board.

The NEUE KLASSE will start out with a Sports Activity Vehicle and a sedan in the current 3 Series segment.

We provided a glimpse of what this future will look like for BMW at our Annual Conference.

The BMW Vision Neue Klasse and the BMW Vision Neue Klasse X showcase both the consistency and the breadth of the NEUE KLASSE.
There is plenty of room between the two vehicles for innovation and new models – and we intend to use it.

Ladies and Gentlemen,

The BMW Group is growing – despite the many different challenges we face. Even in times of change, we deliver positive financial results at a consistently high level.

The course we are charting today will enable us to build on this success in the future – across all our brands and products, with next-generation technologies and within the company.

We are in a strong position globally and maintaining our leadership of the global premium segment.

We recognise that there are a lot of new players looking to gain a foothold in this highly attractive segment – and, of course, we are taking this very seriously.

But this is not a one-way street. You can be sure of that: Every player in this industry, whether an ambitious newcomer or an established manufacturer, is also keeping a very close eye on the BMW Group.

- Check against delivery –

Ladies and Gentlemen,

Good morning,

SLIDE 2: BMW Group Quarterly Statement to 31 March 2024

The BMW Group had a successful start into 2024.

Both sales and earnings for the first quarter were in line with our expectations. This results from the focused implementation of our strategic priorities.

At the BMW Group, we have strong brands and attractive products, which create ongoing high demand and a profitable operational business.

SLIDE 3: Highlights of BMW Group Performance in Q1 2024

In the first three months, the BMW Group delivered just under 595,000 vehicles to customers. This is a slight increase of 1.1 percent over the same period of last year.

Our all-electric vehicles, in particular, made an important contribution, with growth of 27.9 percent.

If we look at the BMW brand alone, that number was 40.6 percent.

At the same time, sales of models in the upper premium segment also recorded significant double-digit growth of more than 21 percent.

The Group EBT margin for the first quarter came in at 11.4 percent, which is above our strategic target of 10 percent.

The EBIT margin in the Automotive Segment was 8.8 percent. This falls clearly within our target corridor of 8 to 10 percent.

Ladies and Gentlemen,

This quarter confirms once again that the BMW Group's operating business consistently delivers strong results.

We have a clearly defined long-term plan. And we have significant flexibility in our systems and processes. This allows us to adapt quickly to developments and take advantage of market opportunities.

On this basis, we expect to operate at a consistent level throughout 2024.

SLIDE 4: BMW Group in Q1

Let’s take a look at the financial figures for the first quarter in more detail.

I’ll start with a brief overview at Group level.

BMW Group revenues were on par with the previous year.

Group earnings before tax totalled around 4.2 billion euros, resulting in a Group EBT margin of 11.4 percent.

SLIDE 5: Automotive Retail Units, BEV Units, Auto Revenue and Auto EBIT

And now more details on how the Automotive Segment performed across key metrics.

In the first three months, the BMW Group delivered 595,000 BMW, MINI and Rolls-Royce vehicles to customers.

The BMW brand reported growth of 2.5 percent.

Due to the upcoming model changeovers MINI sales were down 9.4 percent from the previous year. The New MINI Family, comprising the Countryman*, the Cooper* and the Aceman*, will boost MINI sales – particularly in the second half of the year.

This sales development is also reflected in segment revenues. Adjusted for currency translation effects, revenues saw a slight increase of 1.5 percent.

Both the higher sales volume and positive product mix effects from the upper price segment and BEV contributed to the increase in revenues in Q1 2024.

This is expected to provide a tailwind for revenues also in the remainder of 2024.

Furthermore, prices across the product portfolio are expected to be in line with last year’s level.

The electrification of our product line-up continued to generate substantial sales momentum in the most recent quarter.

Almost 83,000 fully-electric vehicles were sold – or 13.9 percent of our total sales.

Taken together, BEV and plug-in hybrids accounted for about 21 percent of total sales in the first quarter.

EBIT for the period from January to March was 2.7 billion euros, with an EBIT margin of 8.8 percent.

This means that the first quarter of 2024 is in line with the consistent trend in profitability since the beginning of 2022.

Q1 2023 was exceptional, as the effects of inflation were not yet fully reflected in the operating result.

I will provide more details on the Q1 year-on-year development with the EBIT bridge.

SLIDE 6: Automotive Segment EBIT in Q1

Changes in commodity prices accounted for a positive impact of around 200 million euros. Currency effects remained neutral.

For the full year 2024, we anticipate a positive net balance from currency and commodity positions.

The net balance of volume, model-mix and pricing effects is about 300 million euros lower than for the first quarter of 2023.

Increase in volumes made a slight positive contribution.

The double-digit growth by models in the upper price segment almost entirely compensated the effect from the higher BEV share.

Starting with the second quarter of 2023, we began to see increased competition due to better availability of vehicles in the market. This led to a gradual softening of the global price environment for new and used cars, which has continued into the first quarter of 2024.

For the full year 2024, we expect the net effect from volume, mix and pricing to be slightly positive, as planned.

We expect additional momentum from models like the new BMW 5 Series, which is currently ramping up in markets across the globe. In China, it launched after the Lunar New Year holiday and has therefore only been in showrooms for a few weeks.

Full availability of the BMW 7 Series will also have a positive effect.

Moving on, we come to research and development expenses – which were 200 million euros higher than in the prior-year first quarter.

Based on Group R&D expenditure, the R&D ratio according to the German Commercial Code came in at 5.4 percent.

Our R&D activities remain focused on the electrification and digitalisation of our entire vehicle fleet. We are constantly developing attractive new models, like the NEUE KLASSE or the next generation of the BMW X5.

Sales and administrative costs were 100 million euros higher than the previous year. This is largely due to IT projects and the increase in personnel costs, which was implemented from the third quarter of 2023.

The headwind of 700 million euros from Other Cost Changes essentially results from two areas.

The first is manufacturing costs.

Sales margins in the first quarter of 2023 still benefitted from a lower level of purchasing prices in 2022.

This led to a positive EBIT effect in Q1 2023 as inventories with lower manufacturing costs were sold.

Starting in Q2 2023, we saw an elevation in costs that has carried through into Q1 2024.

Another reason for the difference in other cost changes is income from the resale of end-of-lease vehicles.

As expected, income was lower than in the first quarter of 2023, yet remains positive.

The normalisation we have been seeing in the used car market over the past twelve to fifteen months has gradually continued.

SLIDE 7: Automotive Segment Free Cash Flow in Q1

Free cashflow in the Automotive Segment totalled about 1.3 billion euros in the first quarter of 2024.

The difference to the first quarter of 2023 mainly results from the lower EBT.

Inventory levels rose during the first quarter, in line with planning. This contributed to the change in working capital, which amounts to 1.2 billion euros.

The increase in stock will ensure that we can service the expected customer demand.

The net effect from capital expenditure and depreciation also reduced free cash flow by 200 million euros.

Capital expenditure for January to March totalled around 1.3 billion euros. This was mainly allocated to new models and structures, with a clear focus on electrification and digitalisation as well as automated driving systems.

The capex ratio for the year to the end of March was 3.6 percent.

Changes in provisions and in the position other, such as tax payments, had no net impact on free cash flow.

In the first quarter of 2024, investments totalling 2.3 billion euros were made into future models and innovations. Nevertheless, the Automotive segment generated 1.3 billion euros in free cashflow.

For the full year, the BMW Group is targeting a free cashflow above 6 billion euros in the Automotive segment, despite the planned peak investments in R&D and capex in 2024.

The strong underlying free cashflow generation supports our ongoing and consistent shareholder return.

As part of the share buyback program BMW AG has acquired shares equivalent to 5.03 percent of the share capital in place on March 31st.

The second tranche of the second program with a volume of 500 million euros is currently in progress and will be completed no later than June 28th.

Currently we see no reason not to continue with tranche three immediately after conclusion of tranche two.

SLIDE 8: Financial Services Segment in Q1

In the Financial Services Segment, the positive trend in new business from the second half of 2023 continued through the first three months of 2024.

The number of new contracts concluded with retail customers increased significantly by 21.5 percent year-on-year to reach 422,000 contracts. Financing for both new and used vehicles contributed to this growth.

In line with this, the volume of new business grew by 22.1 percent to just over 15.6 billion euros.

Segment earnings for the first quarter amounted to 730 million euros – a decrease of 215 million from the previous year.

This can be attributed both to higher credit risk provisioning and the normalisation of income from the resale of lease returns.

The credit loss ratio across the entire loan portfolio remained at a low rate of 0.21 percent.

SLIDE 9: Motorcycles Segment in Q1

In the Motorcycles Segment, first-quarter deliveries decreased slightly by 3.1 percent year-on-year.

EBIT for the year to the end of March totalled 106 million euros, with an EBIT margin of 12.2 percent.

SLIDE 10: Outlook 2024

Ladies and Gentlemen,

After a successful first quarter, we expect the solid business performance to continue throughout the year 2024.

Therefore, our guidance for key performance indicators remains unchanged.

This is based on the assumption that geopolitical and macroeconomic conditions do not deteriorate.

Group earnings before tax are projected to decrease slightly.

In the Automotive Segment, we are planning for slight year-on-year sales growth – with the percentage of all-electric vehicles set to increase significantly.

We expect to see an EBIT margin of between 8 and 10 percent and a Return on Capital Employed (RoCE) of between 15 and 20 percent.

Sales should be slightly higher in the Motorcycles Segment, too. The segment's EBIT margin should come in at between 8 and 10 percent and Return on Capital Employed (RoCE) should be between 21 and 26 percent.

In the Financial Services Segment, we are targeting a Return on Equity (RoE) in the range of 14 to 17 percent for the full year.

SLIDE 11: BMW Group with Consistent Performance

Ladies and Gentlemen,

The BMW Group combines a robust financial performance in its current business with a long-term perspective for the future.

We have a range of highly attractive products in the market and we are continuously developing new models that will set the standard for driving experience, digitalisation and connectivity.

As planned for and previously announced, our research and development spending, and our capital expenditure, will respectively peak in 2024.

We expect our R&D ratio for the full year to be above 5 percent, and the capex ratio above 6 percent.

Our underlying profitability allows us to finance these investments in the future and at the same time yield attractive returns to our shareholders.

We continue to steer the company in line with our strategic priorities. And we deliver what we promise.

Our flexibility allows us to quickly adapt to market fluctuations and to meet customer demand across the globe.

This ensures that we capitalize on market developments and deliver strong results through consistent execution.

Thank you.

Munich/Cannes. BMW est le partenaire automobile officiel du Festival de Cannes pour la troisième année consécutive. Les visiteurs du festival pourront donc à nouveau profiter d'un service de navettes exclusif proposant des véhicules de luxe issus de la gamme actuelle du constructeur automobile haut de gamme. BMW profitera également de sa présence à Cannes pour présenter un véhicule spécial. Après le succès de la première mondiale de la production The Calm de BMW Films l'année dernière, BMW présentera une création unique basée sur la BMW XM dans le cadre de la collaboration exclusive avec le top model britannique Naomi Campbell.

Le prestigieux Festival de Cannes, qui en est à sa 77e édition, attirera à nouveau sur la Côte d'Azur, du 14 au 25 mai 2024, une pléiade de cinéastes, d'acteurs et de cinéphiles venus du monde entier. Mais la présentation de la très convoitée Palme d'Or n'est pas le seul spectacle en ville ; pendant le festival, les têtes se tournent de plus en plus vers le style de vie chic et glamour de la Croisette et de nombreux autres temps forts de Cannes. Pour la marque haut de gamme BMW, l'événement constitue donc la scène idéale pour présenter ses derniers modèles du segment du luxe à un public international exigeant.

Les organisateurs et les invités disposeront d'une flotte de véhicules haut de gamme électrifiée. La flotte exclusive de navettes qui conduira les stars et les VIP sur les routes autour du Palais des Festivals et des Congrès sera également disponible pour les organisateurs du festival et certains de ses partenaires officiels. Elle comprend plus de 200 véhicules, dont les BMW i7, BMW iX et BMW i5 entièrement électriques, ainsi que la BMW XM dotée d'un système de propulsion hybride rechargeable.

La collaboration exclusive avec Naomi Campbell pour un produit exceptionnel.

BMW a prolongé son partenariat avec Naomi Campbell, lancé l'année dernière. Le dernier produit issu de cette collaboration créative est la BMW XM Mystique Allure. Inspirée par la top-modèle, cette version unique du  XM fera une apparition très spéciale à Cannes le 15 mai.

La collaboration a fait ses premiers pas l'année dernière lors de la campagne de lancement « Dare to be You » pour la BMW XM. Parallèlement à sa brillante carrière sur les podiums, Naomi Campbell s'est également imposée en tant qu'actrice et visionnaire créative, et est devenue l'une des figures les plus influentes de la scène mondiale de la mode. Son engagement en faveur d'une plus grande diversité dans l'industrie a fait d'elle un porte-drapeau pour la nouvelle génération de jeunes talents dans les mondes de la création et de la mode.