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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!

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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.

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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

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

München/Cernobbio. Van 15 tot en met 17 mei 2026 organiseert BMW Group Classic, in samenwerking met het luxehotel Villa d’Este, het legendarische Concorso d’Eleganza Villa d’Este.

Zo’n 50 van de meest spectaculaire automobielen uit hun tijd strijden om de felbegeerde trofeeën in de volgende competitieklassen, met als hoogtepunt de "Trofeo BMW Group – Best of Show", waarmee de hoog aangeschreven jury de winnaar van het Concorso d’Eleganza kiest.

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

Ook dit jaar worden spectaculaire concept cars van diverse fabrikanten bekroond in hun eigen traditionele klasse.

De parade van het Concorso d’Eleganza op het terras van het luxehotel Villa d’Este vindt zoals gebruikelijk plaats op zaterdag. Naast de hoofdprijs "Trofeo BMW Group - Best of Show" dingen alle deelnemers met hun voertuigen mee naar de klasse-overwinningen, de publieksprijs "Coppa d’Oro" (uitgereikt door Villa d’Este) en tal van andere prijzen, zoals de "Trofeo del Presidente", uitgereikt door Helmut Käs, Hoofd van BMW Group Classic en President van het Concorso d’Eleganza Villa d’Este.

Jonas Kaufmann, stertenor en merkambassadeur van BMW Group Classic, reikt opnieuw de "Trofeo Il Canto del Motore" uit voor het mooiste motorgeluid, gekozen door de jury.

BMW ALPINA werd begin 2026 geïntroduceerd als fabrikant van auto’s voor liefhebbers die het buitengewone waarderen. Het traditionele Concorso d’Eleganza Villa d’Este vormt het perfecte podium voor dit onafhankelijke, exclusieve merk binnen BMW Group. Na de presentatie van het nieuwe woordmerk en het nieuwe merkembleem, presenteert BMW ALPINA zich voor het eerst rechtstreeks aan het publiek aan het Comomeer.

Ook dit jaar presenteert BMW Motorrad een spectaculair vision vehicle op het Concorso d’Eleganza Villa d’Este, waarmee nieuwe maatstaven worden gezet op het gebied van exclusieve prestaties en modern design.

De reeds aangekondigde jubilea worden aangevuld met de spectaculaire speciale expositie "Touring Car Legends" ter gelegenheid van "40 jaar BMW M3". Niet alleen legendarische BMW M3 (E30) race-touringcars worden getoond op het terrein van Villa Erba, maar ook de bijbehorende competitievoertuigen uit de touringcarwereld. Racetalenten Johnny Cecotto (VEN), Emanuele Pirro (IT) en Roberto Ravaglia (IT) zijn aanwezig om anekdotes uit hun tijd als BMW-fabriekscoureur te delen en vragen van bezoekers te beantwoorden. Een speciaal "fan talk format" wordt hiervoor gerealiseerd.

Op zondag 17 mei biedt de "Concorso d’Eleganza Villa d’Este Public Day - Il Festival" het brede publiek opnieuw de kans om de parade van voertuigen te beleven. Daarnaast biedt het programma bij Villa Erba entertainment voor alle leeftijden.

Het event "Amici & Automobili - Wheels & Weisswürscht", bekend uit München en inmiddels ook een vaste waarde aan het Comomeer, is in 2026 opnieuw een integraal onderdeel van het autoweekend. Op zaterdag 16 mei tonen autoliefhebbers, clubs en communities uit de hele wereld ongeveer 120 voertuigen op het terrein van Villa Erba. Het aanbod is breed, open voor alle merken en biedt een interessante mix van voertuigen uit verschillende decennia en concepten. Ook het jubileum "40 jaar BMW M3" wordt hier groots gevierd met een indrukwekkende verzameling voertuigen. De oevers van het meer veranderen dan in de BMW M3-weide, met alle generaties van dit icoon.

De winnaar van de "Trofeo BMW Group - Best of Show" ontvangt een bijzonder horloge van A. Lange & Söhne: de unieke 1815 CHRONOGRAPH in 18-karaats witgoud met een massief roodgouden wijzerplaat en het met de hand gegraveerde wapen van het Concorso d’Eleganza Villa d’Este op de scharnierende achterzijde. A. Lange & Söhne is al 15 jaar een trouwe partner van het Concorso d’Eleganza Villa d’Este. Deze langdurige samenwerking wordt tijdens het evenement passend geëerd.

Broad Arrow Auctions, ondersteund door Hagerty (NYSE: HGTY), keert terug als officiële veilingpartner van BMW AG voor het prestigieuze Concorso d’Eleganza Villa d’Este. Op 16 en 17 mei 2026 worden meer dan 70 van ’s werelds meest begeerde collector’s cars geveild, met kijkdagen vanaf vrijdag 15 mei.

Vroege hoogtepunten van deze toonaangevende veiling zijn technologische en designiconen uit de autogeschiedenis, waaronder een Bugatti Type 43 Roadster uit 1929 van Eugène Matthys, een indrukwekkende Bugatti Type 37 Grand Prix uit 1926 en moderne supercars zoals een Ferrari F40 uit 1990 en een iconische BMW M3 GTS uit 2011. Alle details over de veiling en de beschikbare kavels zijn te vinden op: https://www.broadarrowauctions.com/events.

BMW Group Classic dankt haar partners en sponsoren A. Lange & Söhne, Broad Arrow Auctions, Vranken Pommery Monopole en Schedoni Modena voor hun steun.

Helmut Käs, Hoofd van BMW Group Classic en President van het Concorso d’Eleganza Villa d’Este:
“We kunnen niet wachten tot het evenement van start gaat; de spanning neemt elk jaar toe naarmate het Concorso d’Eleganza Villa d’Este dichterbij komt. Ik kan nu al beloven dat het deelnemersveld spectaculair zal zijn. Ik ben dankbaar voor de betrouwbare samenwerking met het luxehotel Villa d’Este, dat samen met BMW Group elk jaar nieuwe maatstaven zet in de organisatie. Ook wil ik de trouwe sponsoren van het Concorso d’Eleganza Villa d’Este hartelijk bedanken.”

Davide Bertilaccio, CEO Villa d’Este S.p.A:
“In samenwerking met BMW Group Classic zijn we er trots op een sfeer te creëren waarin excellentie vanzelfsprekend is, waar geschiedenis blijft inspireren tot innovatie en waar elke gast deel uitmaakt van een werkelijk tijdloze en bijzondere ervaring. Dit is mogelijk dankzij de inzet en toewijding van het Villa d’Este-team, in nauwe samenwerking met het BMW-team, en hun oog voor detail, waardoor dit evenement onvergetelijk wordt. Naarmate het evenement nadert, verheugen we ons erop onze gasten de nieuwste editie van het Concorso d’Eleganza Villa d’Este te presenteren. Meer dan een eerbetoon aan een rijke traditie, is het een van de meest prestigieuze en langstlopende concours ter wereld: een levendige viering van vakmanschap, passie en cultureel erfgoed.”

Tickets voor "Amici & Automobili - Wheels & Weisswürscht" en de "Concorso d’Eleganza Villa d’Este Public Day - Il Festival" zijn hier verkrijgbaar:
https://www.concorsodeleganzavilladeste.com/blocks/tickets-packages

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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.

Utrecht. Tijdens de 40e editie van de MOTORbeurs Utrecht, die van 19 tot en met 22 februari plaatsvindt in de Jaarbeurs, is BMW Motorrad opnieuw prominent aanwezig. Samen met vrijwel alle andere motor- en motorscootermerken vormt BMW Motorrad onderdeel van ‘All Brands United’, een initiatief van de RAI Vereniging waarbij de merken gezamenlijk optrekken met een uniforme standbouw en een gezamenlijke opening van de beurs.

Een primeur, de complete line-up én ConnectedRide innovaties op de stand
Op de 250 m² grote stand van BMW Motorrad staat dit jaar de gloednieuwe BMW F 450 GS. Deze lichte en wendbare motorfiets, uitgerust met een nieuwe tweecilindermotor van 48 pk (35 kW) en een gewicht van slechts 178 kg, is ontworpen voor speelse en toegankelijke ritten. Naast deze Nederlandse primeur zijn alle andere GS-modellen vertegenwoordigd, waarmee bezoekers een compleet beeld krijgen van het Adventure-segment van BMW Motorrad. Ook op het gebied van stedelijke mobiliteit is er aandacht: de populaire BMW C 400 GT, een comfortabele Gran Turismo-motorscooter. Hiermee biedt BMW Motorrad een breed aanbod voor zowel avontuurlijke als stedelijke rijders.

De innovatieve ConnectedRide-producten en de bijbehorende app krijgen ruime aandacht op de stand. Bezoekers kunnen informatie inwinnen over de verschillende uitvoeringen en zadelhoogtes van de F 900 R en F 900 XR, zodat iedere motorrijder het model kan vinden dat bij hem of haar past.
De sportieve M-modellen van BMW Motorrad zijn eveneens aanwezig, naast een breed scala aan andere modellen.

20 modellen beschikbaar voor proefritten op het Testparcours
Op het Testparcours in de buurt van de stand zijn twintig verschillende
BMW motorfietsen beschikbaar voor proefritten. Deskundige instructeurs staan klaar om bezoekers te begeleiden en te adviseren, zodat zij de rijervaring van BMW Motorrad zelf kunnen beleven tijdens deze jubileumeditie van de MOTORbeurs Utrecht.

Ontdek alle BMW Motorrad events met de nieuwe Experience Finder
Tijdens de MOTORbeurs Utrecht toont BMW Motorrad de vernieuwde Experience Finder op de website. Op een groot scherm op de stand kunnen bezoekers een overzicht van het groeiende aanbod aan evenementen ontdekken. Deze evenementen variëren van toertochten en trainingen tot reizen en workshops. Dankzij de samenwerking met BMW Motorrad dealers zijn er binnenkort ongeveer 50 activiteiten beschikbaar, zodat motorrijders eenvoudig kunnen ontdekken wat er allemaal te beleven valt binnen de wereld van BMW Motorrad.

Aanmelden als monteur bij BMW Motorrad op de beursstand
Het tekort aan technisch talent is ook bij BMW Motorrad merkbaar. Met de campagne ‘Pak een sleutelrol’ zoekt BMW Group Nederland actief naar nieuwe monteurs voor zowel de auto’s als de motorfietsen, onder meer via innovatieve kanalen zoals Reddit. Hierbij ligt de nadruk op vaardigheden en probleemoplossend vermogen, in plaats van alleen diploma’s.

Tijdens de MOTORbeurs Utrecht kunnen geïnteresseerden zich direct op de stand aanmelden als monteur. Zo wordt het voor technisch talent eenvoudig om de eerste stap te zetten richting een carrière bij BMW Motorrad.

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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.

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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.

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

Op vrijdag 5 september om 11:00 uur ’s ochtends vindt de wereldpremiere van de geheel nieuwe BMW iX3 plaats. Deze is HIER te volgen via een livestream.

Bijzonder exclusief, want de publieke onthulling is komende maandag tijdens de IAA Mobility 2025 in zijn thuisstad in München.

De nieuwe BMW iX3 toont de enorme technologische vooruitgang die BMW op vele gebieden heeft geboekt: elektrische mobiliteit, display en bediening, digitalisering, connectiviteit, design, duurzaamheid en technologische openheid. Alle toekomstige BMW modellen zullen profiteren van de innovaties in de Neue Klasse, ongeacht het type aandrijflijn.

De livestream is ook terug te kijken op een later moment.

München. Tijdens de IAA Mobility in München van 9 tot 14 september transformeert MINI de stad in zijn eigen podium op twee bekende locaties: een indrukwekkend Open Space op Max-Joseph-Platz en een centrale merkpresentatie in het MINI Paviljoen op Lenbachplatz, waar het merk DNA van MINI wordt gepresenteerd op 's werelds grootste mobiliteitsevenement. Het hoogtepunt is de wereldpremière van twee exclusieve JCW showcars, gecreëerd als onderdeel van een spannende samenwerking.

MINI Paviljoen: MINI onthult exclusieve JCW showcars.
MINI zijn raceachtergrond is niet alleen zichtbaar door het recente succes bij de 24-uurs race op de Nürburgring: motorsport maakt vanaf het begin deel uit van de essentie van het merk. Als onderdeel van de IAA vieren twee unieke
MINI John Cooper Works showcars hun wereldpremière, het resultaat van een inspirerende samenwerking. Gedurende de IAA staan de modellen centraal in een spectaculaire presentatie in het MINI Paviljoen. De showcars, die de onmiskenbare race-enthousiasme van het merk combineren met de geest van een wereldberoemd lifestylemerk, zijn te bewonderen op Lenbachplatz. Hiervoor wordt het MINI Paviljoen uitgebreid verbouwd en volledig gewijd aan het John Cooper Works merk.

MINI Paviljoen: Lenbachplatz 7a, 80333 München

MINI bij Open Space: Erfgoed en humor op Max-Joseph-Platz.
Een metropool binnen een metropool: Met zijn verschijning in het Open Space brengt MINI het bruisende stadscentrum van Londen naar het nobele Max-Joseph-Platz in de oude binnenstad van München. Een zorgvuldig geënsceneerde achtergrond herschept het hart van de stad en presenteert de Britse identiteit van het merk, inclusief zijn humor in vele details.

Met de Bayerische Staatsoper en het Residenztheater op de achtergrond, ligt de focus van Open Space op de volledig elektrische modellen van de nieuwe MINI-familie, de high-performance MINI John Cooper Works Electric, MINI Service en MINI Experience Modes. Met de MINI John Cooper Works Electric, MINI Aceman SE en MINI Countryman SE ALL 4 kunnen bezoekers drie volledig elektrische MINI modellen van dichtbij ervaren. Max-Joseph-Platz is ook het startpunt voor proefritten in samenwerking met SIXT: trouw aan het motto "Only MINI Can Do", kunnen bezoekers het Go-Kart gevoel van de volledig elektrische MINI' modellen uit de nieuwe MINI-familie zelf ervaren op de straten van de stad.

MINI Open Space: Max-Joseph-Platz 2, 80539 München

MINI op de IAA: Community Day verenigt fans van het merk.
Fans van MINI kunnen dit jaar ook deel uitmaken van de IAA Mobility: op de "Community Day" op 13 september komen MINI-clubs samen voor een rit met hun eigen MINI. Beginnend bij Gut Kaltenbrunn aan de Tegernsee, leidt de route door München en eindigt met een inspirerende bijeenkomst met muziek, BBQ en dialoog met de gemeenschap in het MINI Paviljoen.

De IAA: een platform voor experts en liefhebbers.
Als een van de grootste en belangrijkste internationale autotentoonstellingen biedt de Internationale Automobilausstellung (IAA) fabrikanten, journalisten en andere liefhebbers een platform voor dialoog over de onderwerpen mobiliteit, innovatie en technologie, elke twee jaar. De IAA Mobility 2025 wordt georganiseerd onder het motto "It's All About Mobility". Als onderdeel van het evenement worden innovaties en concepten gepresenteerd in vier formaten - op de IAA Summit, de IAA Conference, de IAA Open Space en de IAA Experience - evenals bij MINI in het MINI Paviljoen op Lenbachplatz. Bij de laatste IAA 2023 in München werden meer dan een half miljoen bezoekers geteld.

München. BMW, MINI en BMW Motorrad zullen hun nieuwe modellen presenteren op twee centrale locaties tijdens de IAA Mobility 2025, net als bij de edities van 2021 en 2023: De IAA Mobility Summit vindt plaats in het expositiecentrum van München (Messe München) – de stand van BMW Group bevindt zich in Hal A1 – en de Open Space van BMW Group is te vinden op het Max-Joseph-Platz, onder het toeziend oog van het operagebouw. De ruim opgezette Open Space, die een oppervlakte van 3.000 m² beslaat, is gratis toegankelijk voor bezoekers op:

• De officiële openingsdag op dinsdag 9 september van 11.00 tot 21.00 uur.
• Woensdag 10 september tot zaterdag 13 september van 11.00 tot 23.00 uur.
• Zondag 14 september van 10.00 tot 17.00 uur.

BMW Welt en het BMW Museum zullen ook hun bijdrage leveren aan het belangrijkste evenement van het jaar voor de auto- en mobiliteitssector met eigen tentoonstellingen en concepten. De officiële opening van de IAA Mobility Summit vindt plaats in het expositiecentrum op maandag 8 september om 8.00 uur. Deze is voornamelijk gericht op vakbezoekers en is elke dag geopend tot vrijdag 12 september van 9.00 tot 18.00 uur.

De première van de Niue Klasse.
BMW Group presenteert een van de meest significante nieuwe modellen in zijn geschiedenis op de IAA Mobility 2025 in zijn thuisstad in München. De BMW iX3, het eerste model uit de nieuwe Neue Klasse-familie, zal zijn publieke onthulling vieren tijdens het evenement. Naast de Neue Klasse wordt er een reeks nieuwe technologieën onthuld die een revolutionaire en baanbrekende rol zullen spelen binnen BMW Group in de toekomst. De nieuwe BMW iX3 biedt het publiek een eerste blik op de enorme technologische vooruitgang die BMW op vele gebieden heeft geboekt: elektrische mobiliteit, display en bediening, digitalisering, connectiviteit, design, duurzaamheid en technologische openheid. Alle toekomstige BMW-modellen zullen profiteren van de innovaties in de Neue Klasse, ongeacht het type aandrijfsysteem dat ze aandrijft.

Focus op de nieuwe BMW iX3 en talloze innovaties.
Als ster van de IAA 2025 zal de nieuwe BMW iX3 centraal staan tijdens het evenement. Naast de presentatie van verschillende exemplaren van de wereldwijde nieuwkomer, zal het centrale podium voor het operagebouw op Max-Joseph-Platz ook dagelijks "Masterclasses" met het nieuwe model hosten. Op elk van de zes dagen van het evenement zullen er ook demonstraties zijn van het nieuwe displaysysteem BMW Panoramic Vision – inclusief het nieuwe BMW Operating System X – dat volledig in eigen huis bij BMW is ontwikkeld. Deze innovaties van de BMW iX3 zullen eveneens geleidelijk aan hun weg vinden naar alle toekomstige BMW modellen.

BMW Charging introduceert bidirectioneel laden.
Een speciaal gebied van de Open Space zal zich richten op BMW Charging, met behulp van huidige volledig elektrische BMW modellen zoals de nieuwe BMW iX en de BMW i5. De verzamelde experts hier zullen informatie geven over zowel openbaar laden als het BMW Charging-aanbod voor thuisladen met verschillende BMW Wallboxes. BMW Charging zal op de IAA Mobility show voor het eerst het bidirectionele laden van de BMW iX3 tonen. Deze technologie stelt de iX3 in staat om energie van zijn hoogspanningsbatterij te laten vloeien naar een huis (Vehicle-to-Home – V2H) of het openbare net (Vehicle-to-Grid – V2G).

Modellen van BMW, MINI en BMW Motorrad in de Open Space.
Naast de focus van de IAA Mobility show op de BMW iX3 als het eerste Neue Klasse model, worden fans van de andere BMW modellen en liefhebbers van de merken MINI, BMW M en BMW Motorrad ook goed bediend. In de Open Space staan onder andere de volledig elektrische BMW i4, BMW i5, BMW i7 en BMW iX, en de geëlektrificeerde BMW X3 30e xDrive en de BMW M5 Touring met Plug-In Hybride aandrijfsysteem tentoon.

BMW Motorrad presenteert de BMW CE 02 en BMW CE 04 om haar blik op elektrische mobiliteit met nadruk op wendbaarheid in de binnenstad te delen met de bezoekers in het stadscentrum van Munchen. Met de BMW Vision CE biedt het merk ook een fascinerende blik vooruit op hoe ontwikkelaars en ontwerpers de toekomst van volledig elektrische tweewielers voor de grote stad zien.

MINI: showauto's en "Britishness" nemen het podium over.
MINI zal zijn aanwezigheid op IAA Mobility 2025 verspreiden over twee locaties in het hart van München. Zijn spectaculaire Open Space set op Max-Joseph-Platz en centrale merkverschijning in het MINI Paviljoen op Lenbachplatz zullen diepgaande inzichten bieden in het DNA van het merk. Bovendien zullen twee opvallende JCW showauto's hun wereldpremières vieren in München als onderdeel van een passende en boeiende presentatie. De Beierse hoofdstad zal tijdens IAA Mobility 2025 veranderen in één groot podium voor het iconische Britse merk.

De JCW showauto’s vormen een opvallend element in het MINI Paviljoen en laten zien dat autosport een bepalend element is in het MINI DNA. Het Britse icoon en racecompetitie gaan zeker hand in hand, zoals onlangs bevestigd door het laatste succes van het merk in de Nürburgring 24-uurs race. De showauto's zullen gedurende de IAA te zien zijn op de Lenbachplatz, in de geest van een wereldberoemde mode- en lifestylemerk. Het MINI Paviljoen zal volledig gewijd zijn aan het John Cooper Works submerk.

Entertainment voor gezinnen in de Open Space.
In 2025, net als in voorgaande jaren, nodigt het Familiegebied in de Open Space bezoekers uit om deel te nemen en tegelijkertijd te genieten van een moment van ontspanning. Kinderen, tieners en gezinnen kunnen uitkijken naar creatieve attracties zoals LEGO bouwgebieden, een Disney+ Dance Challenge met Lilo & Stitch, knutselactiviteiten en een waterstation. Andere hoogtepunten – bijvoorbeeld op het dakterras – voegen alleen maar toe aan het rijk gevarieerde familieprogramma.

Evenementen in het expositiecentrum, BMW Welt en BMW Museum.
Naast zijn steroptreden in de Open Space op Max-Joseph-Platz, heeft de BMW iX3 ook invloed op de 2.000 m² stand van BMW Group in het expositiecentrum – dat zich bevindt in Riem, in het oostelijke deel van München. Naast de voertuigen die hier op de Summit worden tentoongesteld, zullen innovaties zoals BMW Panoramic iDrive, de zesde generatie hoogspanningsbatterijen en elektrische aandrijfsystemen en rijdynamiek managementtechnologie – dankzij de "Heart of Joy" high-performance computer – centraal staan in presentaties en gesprekken met experts. De belangrijkste elementen van BMW Panoramic iDrive zijn het displayoppervlak dat de volledige breedte van de onderste voorruit beslaat, het nieuwe multifunctionele stuurwiel met shy-tech technologie, en het Centrale Display. Allemaal dragen ze bij aan een indrukwekkende grootschalige animatie. De experts op de Summit zullen ook licht werpen op andere technologieën, zoals brandstofcellen, alternatieve brandstoffen, plug-in hybride aandrijfsystemen en laadtechnologie.

1961 Neue Klasse maakt ook een verschijning op de show.
De stand van BMW Group in het expositiecentrum zal een beroemd model uit het verleden tentoonstellen, terwijl BMW Classic de klok terugdraait naar een BMW 1500 uit de jaren 60 – het eerste model in de originele Neue Klasse line-up. De 1500 was de hoofdact op de IAA van 1961 in Frankfurt, een echte ‘showstopper’ die de openingsregels schreef voor een internationaal succesverhaal. De Neue Klasse legde de basis voor BMW Group om 's werelds meest succesvolle fabrikant van premium auto's te worden. De BMW iX3 van 2025 brengt ons weer terug naar het begin – een auto met alle gereedschappen om voort te bouwen op deze groei en het eerste model in een nieuw tijdperk.
Bezoekers van het expositiecentrum zullen ook een selectie van huidige modellen tegenkomen, waaronder een BMW M5 Touring, een BMW X3 20d xDrive en een BMW iX5 Hydrogen.

BMW Welt schakelt een nieuw type laadstation in.
Naast zijn optredens in de Open Space in het stadscentrum en het expositiecentrum, zal de BMW iX3 ook te zien zijn in BMW Welt in het noorden van München vanaf 6 september. Hier staan naast het nieuwe volledig elektrische BMW model ook innovaties zoals BMW Panoramic iDrive en diensten zoals BMW Charging in de schijnwerpers. Tijdens de IAA worden klanten die hun auto opladen bij de BMW Welt laadstations getrakteerd op een verfrissende verrassing en, indien gewenst, een gratis persoonlijke rondleiding langs alles wat de BMW iX3 en BMW Charging te bieden heeft.

Kort voordat IAA Mobility 2025 voor bezoekers opent, zal een nieuw laadstation in gebruik worden genomen buiten BMW Welt. Het BMW Welt High-Power Charging station zal acht laadpunten bieden voor elektrische voertuigen. Gecreëerd door Designworks, het innovatie-atelier van BMW, past het station naadloos in de unieke architectuur van het totale gebouw. Expertgesprekken en presentaties zullen de introductie van de nieuwe laadfaciliteit vanaf 8 september begeleiden en doorgaan gedurende IAA Mobility 2025.

DigiTour: interactieve ervaringen in het BMW Museum.
Het BMW Museum zal bezoekers van IAA Mobility 2025 verwelkomen met een nieuwe digitale attractie: de BMW Museum DigiTour. Deze webgebaseerde app, die toegankelijk is zonder te downloaden, biedt een moderne, fascinerende en interactieve ervaring voor bezoekers van over de hele wereld. Deze nieuwe digitale bezoekerservaring brengt de geschiedenis en aantrekkingskracht van het merk BMW tot leven. Een hoogtepuntenrondleiding van klassieke BMW modellen (van de vroege dagen tot aan het heden) zal hier in digitale vorm worden gepresenteerd, evenals binnenkort de tijdelijke tentoonstelling van het Museum "Belle Macchine – Italiaans Automobielontwerp bij BMW." Er zijn aanvullende rondleidingen gepland, inclusief opties voor gezinnen en kinderen. De BMW Museum DigiTour is gratis, opent een venster naar zelden getoond archiefmateriaal en is beschikbaar in verschillende talen.

Duurzaamheid en circulaire economie in alle gebieden van BMW Group.
Als integraal onderdeel van de strategie van BMW Group op IAA Mobility 2025, staat het thema duurzaamheid centraal in een reeks wereldpremières en innovaties. Naast de elektrificatie van zijn aandrijfsystemen heeft BMW Group een holistische benadering om zijn duurzaamheidsdoelen te bereiken. De focus ligt hier op het verminderen van CO2-uitstoot gedurende de levenscyclus van een voertuig en met de ontwikkeling van de Neue Klasse heeft BMW zijn inzet voor deze doelstellingen verhoogd. Vanaf de ontwikkeling van een product, het gebruik van secundaire materialen, de inkoop van grondstoffen en productie, tot de gebruiksfase en uiteindelijk recycling, houdt BMW Group zich aan consistent circulair denken. Deze betrokkenheid bij circulariteit is ook te zien op de stands van BMW Group op IAA Mobility 2025. Ongeveer 80 procent van de installaties, armaturen en materialen in de Open Space op Max-Joseph-Platz worden al hergebruikt of zijn expliciet aangeschaft voor langdurig gebruik bij andere evenementen. Planten, robots, betonnen barrières en veel van de evenemententechnologieën zijn grotendeels gehuurd. De presentatie op de Summit houdt zich nog meer bezig met het hergebruiken van materialen. Enkel gebruik is daarom voornamelijk beperkt tot grafische elementen en materialen die zwaar belast worden, zoals vloerbedekkingen en wandoppervlakken.

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.

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. The BMW Museum in Munich is using a special exhibition taking place as part of the international BMW Art Car World Tour to celebrate the 50-year anniversary of both the legendary BMW Art Car Collection and the iconic BMW 3 Series. The exhibition will open its doors to visitors from 17 June, hot on the heels of the Le Mans 24 Hours race weekend. Fittingly, it was at Le Mans in 1975 that the first BMW Art Car – created by Alexander Calder – staged its glittering premiere. The exhibition, which runs until 1 February 2026, will see the BMW Museum present a trio of Art Cars based on the BMW 3 Series: Sandro Chia’s BMW M3 GTR and the BMW M3 (Group A) cars designed by Michael Jagamara Nelson and Ken Done respectively.

The exhibition at the BMW Museum – the home of the BMW Art Cars when they are not on display at destinations around the globe – is one of the attractions of the ongoing BMW Art Car World Tour, the largest exhibition project yet in the 50-year history of the collection. The Tour has so far visited 12 markets on five continents, and will continue to showcase the legendary BMW Art Cars across numerous art and car platforms, and at institutes worldwide, over the coming year. The BMW Museum will use the special exhibition to provide insights into the artistic brilliance and history of the BMW Art Car Collection, as well as inviting visitors to explore the technical excellence of the 3 Series and the innovative power of the BMW brand.

50 years of driving pleasure: the BMW 3 Series 
Since it first hit the roads in 1975, the BMW 3 Series has served as a byword for driving pleasure and a cornerstone for the success of BMW. Across five decades, it has reimagined the concept of the sports sedan, set new standards for performance and put smiles on the faces of millions of drivers around the world. From the groundbreaking first generation to today’s innovative models, the 3 Series has been an enduring, style-defining feature of the automotive landscape.

50 years of “rolling sculptures”: the BMW Art Car Collection
Since 1975, renowned artists from countries the world over have gone to work creating BMW Art Cars. The idea was the brainchild of French racing driver and art lover Hervé Poulain, who teamed up with BMW’s then Head of Motorsport Jochen Neerpasch to invite friend and artist Alexander Calder to paint a design onto a car. The result was a BMW 3.0 CSL that competed in the 24 Hours of Le Mans in 1975, becoming a darling of the crowd – and marking the birth of the BMW Art Car Collection. Famous names including Frank Stella, Roy Lichtenstein, Andy Warhol, Robert Rauschenberg, Esther Mahlangu, David Hockney, Jenny Holzer and Ólafur Elíasson have since added further BMW Art Cars bearing their own individual style to the collection. More recently, the American John Baldessari and Chinese multimedia artist Cao Fei used the BMW M6 GTLM and BMW M6 GT3 respectively as a canvas for their takes on the BMW Art Car concept in 2016 and 2017. They therefore joined Jeff Koons and Julie Mehretu in applying their creativity to dynamic racing cars in the last 15 years.

BMW Art Cars at the BMW Museum from 17 June
BMW M3 Group A by Ken Done (1989):
Australian artist Ken Done created a vibrant and richly coloured design that captures the energy and dynamism of motor racing. His work represents a homage to the speed and power of the BMW M3.

“It was a great honour to be asked to be part of this fabulous Art Car collection. I wanted to express the joy of speed and the brilliance of the machine itself.” Ken Done

BMW M3 Group A by Michael Jagamara Nelson (1989):
Michael Jagamara Nelson, also from Australia, brought the traditions of Aboriginal art to the bodywork of the BMW M3. His complex motifs using dot painting techniques tell Dreaming stories that are deeply rooted in the culture of his people.

“A car is a landscape as it would be seen from a plane – I have included water, the kangaroo and the opossum.” Michael Jagamara Nelson

BMW M3 GTR by Sandro Chia (1992):
Italian artist Sandro Chia transformed a BMW M3 GTR into a painting on wheels that depicts human figures and emotions in vivid colours. His work symbolises the connection between man and machine, and invites us to reflect on the role of the car in modern society.

“I have created both a picture and a world. Everything that is looked at closely turns into a face. A face is a focus, a focus of life and the world.” Sandro Chia

The 10th BMW Art Car, a BMW 730i designed by Spanish artist César Manrique in 1990, is also on show at the BMW Museum as part of its permanent exhibition.

For more information, please visit:
BMW Art Cars im BMW Museum
BMW Art Car World Tour

If you have any questions, please contact:
Lisa Meindl
BMW Group Corporate and Governmental Affairs
Spokesperson BMW Museum und BMW Welt
Phone: +49-89-382-31668 
E-Mail: Lisa.Meindl@bmw.de

Ilya Baryshev
BMW Group Corporate and Governmental Affairs
Spokesperson, BMW Art Car World Tour
Telefon: +49-151-601-544-36
E-Mail: Ilya.Baryshev@bmwgroup.com

- Check against delivery –

Robust. Dependable. With a clear focus on the future.

The BMW way – for the success of your company.

Dear Shareholders!

Our lives are increasingly digital – and, in global business, virtual formats offer many advantages. But, let's not forget – people are not digital. We all still value meeting face to face. We want to look each other in the eye.

That is why it is great to see so many of you here today, in the Olympiahalle. And to everyone joining us remotely: A very warm welcome to you as well!

This is your company’s 105th Annual General Meeting!

The heart of BMW beats all over the world. BMW is a global team, united by a strong sense of community. 159,000 people: highly motivated. High-performing. Innovative. Together, we are the BMW Group.

Of course, one could also say: BMW, that's just a DAX-listed company. A reliable employer; at its core, it remains an abstract construct.

But everyone at the company knows that BMW is so much more than that! That is why we stand together. Time and again, we have proven that we seize opportunities, act swiftly and adapt with remarkable flexibility. We learn from the unexpected – which is what truly matters. We then emerge stronger than before – just as we did after the global financial crisis and the Covid pandemic.

We make decisions with a long-term perspective.

This mindset goes back to entrepreneur Herbert Quandt, whose family continues his legacy – much like we do here at BMW.

You, our shareholders, remain by our side in this. You give us entrepreneurial freedom – and that is a privilege we value, especially in turbulent times.

Today, our environment is more dynamic than ever.

We face highly complex challenges, shaped by conflicting priorities and paradoxes. Above all, we are confronted with new geopolitical realities that directly affect our business.

At the same time, our industry is undergoing significant change. The shift towards e-mobility is just one facet of a broader, all-encompassing process – a technology race that culminates in elimination of some players.

When things are uncertain, many stay stuck in “neutral”, waiting. Not your company! We are now shifting into “sport mode” –hands on the wheel, eyes on the road. Standing here on stage is the BMW Vision Neue Klasse you are already familiar with. Later on, I’ll even show you the first two production models of the NEUE KLASSE. Our vision is becoming reality, as we reach the next milestones for BMW and the entire company.

By anticipating trends in the marketplace early, we consistently manage to make major technological leaps at exactly the right time. We invest proactively in electrification, digitalisation, our production network, our products and the NEUE KLASSE. By 2024, we will have reached the peak of our investment and R&D activities, with expenditure in each area exceeding nine billion euros. This is a peak, not a plateau.

We have invested a considerable amount of money.

In the years ahead, the full impact of these upfront investments will become clear – just as I promised. We are realising our plans for the future with your best interests in mind. You, our shareholders, should benefit from the continuing success of your company, alongside our employees.

That is why we remain firmly committed to our shareholder return strategy: We are proposing a dividend payout of 36.7 percent of our unappropriated profit – which would amount to a total of 2.6 billion euros. If you approve our proposed dividend, this will be our highest-ever payout ratio.

Your company is in a strong position, focused on the future:

We are digitalising our vehicles and leveraging tech clusters and architectures with massive scaling potential. We are utilising artificial intelligence throughout our value chain. Very soon, nearly every process at the company will be supported by AI, making us even faster and more precise – and not just in production and logistics. At your company, efficient cost structures are the standard – you can always count on that.

The automotive industry has been through many upheavals –in response to the rise of industrialisation, technological progress, new processes and evolving markets, as well as changing regulations and societal expectations.

The BMW way is shaped by confidence – because we provide meaningful answers. I would like to show you today how we do that through:

1.     Our strategy: which is market-driven and technology-open.

2.     Our goals: We met our adjusted targets for 2024 and are targeting growth this year.

3.     Our global footprint: a differentiating factor and competitive advantage in a fragmented world.

4.     Our future-focused project for tech leadership: BMW is the NEUE KLASSE – and the NEUE KLASSE is BMW.

Let me begin with my first point: our strategy.

Technology openness means following the markets – because markets evolve, but not all at the same pace. We took a clear stand on this, even in the face of strong headwinds. Now, the wind has shifted in our direction:

•      “BMW late winner of the drivetrain transition”.

•      “How BMW went from laggard to magician”.

•      “Germany’s true electric-car champion”.

These headlines were taken from trade journal “Auto, Motor und Sport”; weekly magazine “Wirtschaftswoche”; and newspaper “Die Welt”.

Our models and diverse drivetrain portfolio are also winning awards, including the “Goldene Lenkrad” (Golden Steering Wheel). I accepted three trophies in Berlin – a very special moment.

Our brands and products are being extremely well received. The German Car of the Year award, presented to the 5 Series and i5*, is the first-ever win for a technology-open model series.

While other manufacturers are reversing course or adjusting their strategy, we are on exactly the right track. Even policymakers are starting to come around: The new German federal government supports a broad approach to technology, while the European Commission seeks to make Europe more competitive. The “Green Industrial Deal” finally considers climate protection and the economy “in tandem”. That is a good thing.

From e-drives and plug-in hybrids to highly efficient conventional drive technologies: No one masters this level of variety better than your company. As previously announced, we will be adding a production model with a hydrogen drivetrain in 2028. All of this benefits our customers, while, at the same time, making a measurable contribution to climate protection. And, yes, we have the facts and figures to back this up:

In 2024, the BMW Group significantly outperformed its European CO2 fleet target by more than 30 grammes. That is a huge leap forward, which cannot just be taken for granted. Based on internal calculations, our numbers came in at under 100 grams for the first time – at 99.5 grammes per kilometre. The official data will be published by the European Commission at year-end. We are also gearing up to meet the much stricter targets for this year, as you would expect from us.

We take ambitious political goals seriously – but we don’t believe in technically one-sided regulations that limit supply. The same principle applies to the circular economy. Here, too, only a comprehensive approach can enable and stimulate investment. Because, as a standalone technology, e-mobility leads down a dead-end street – that much is now clear. The differences are simply too great, even just within Europe.

Belgium, for example, offers incentives: Electric and hybrid models quickly became the most popular new cars, reaching a market share of over 60 percent in 2024. Contrast that with Italy, where electric cars made up only about four percent of total sales last year.

Is that the fault of the products? Certainly not. Is it because of the customers? Definitely not. The all-important question is rather:

How do we effectively cut CO2? Certainly not by thinking in black and white. Supporting one solution does not necessarily mean opposing another. Our approach proves this time and again – and remains effective. We all need to be much more opportunity-driven, guided by entry – not exit – strategies.

Political goals must reflect market realities – and also be viable for businesses. Global investment is already looking ahead to 2030, and especially 2035. That is why the upcoming review of EU targets will be so decisive. It is our chance to improve the system. Europe needs a top-performing automotive and supplier industry. We are fighting for this and pushing back against negative developments.

For our customers, we will remain broadly diversified – and, for you, our shareholders, we are securing the success of your company. We don’t want to miss out on any market potential. We will continue to stand firm – but always open to dialogue with decision-makers around the world. We explain the complex mechanisms of our industry, asking: What will the proposed legislation mean in practice? The Board of Management and I are personally engaged in this work.

At your company, we mostly let our actions speak for themselves: Just as I promised you last year – we already have more than 15 all-electric models on the market. Our BMW iX* has been recently updated, so that it now boasts an electric range of up to 701 kilometres in the WLTP cycle. In 2024, battery-electric vehicles – BEVs, for short – were once again key growth drivers for us. By year-end, more than 17 percent of our total sales were fully electric. This is significantly higher than at many other manufacturers. You’ll also be pleased to hear that this positive trend accelerated into 2025. In the first quarter, our global BEV sales increased over 30 percent. Europe led the way, with growth of more than 60 percent.

The US market was also up by over 20 percent.

If you include both BEVs and plug-in hybrids, more than one in four of our vehicles is now electrified, while nearly one in five is already fully-electric. We are making good progress. We are delivering – and maintaining our credibility.

My second topic for today is our goals.

As always, they are ambitious. Even in difficult conditions, not every market contracts. There are always regions where growth is possible – and your company exploited this potential to the full in 2024: In three of our four main sales regions, we increased deliveries and often gained market share.

Joy is at the heart of our BMW brand, sparking positive emotions all around.ach of our company’s four brands – BMW, MINI, Rolls-Royce and BMW Motorrad – has its own unique character and strengths. BMW remains number one in the premium segment. BMW M also reported dynamic growth, achieving record sales for the 13th consecutive year. Nearly one in ten BMWs sold last year was a profitable M model. The new MINI family is now complete: With five models, three of which are fully electric. The MINI brand not only has a positive impact on our carbon footprint, it also has a strong fan base. In the luxury segment, Rolls-Royce continues to set the benchmark. With the Black Badge Spectre*, a second fully electric Rolls-Royce is now available. The Phantom is the brand's most iconic vehicle. And it is celebrating its 100th birthday this year. All good reasons to expand the Goodwood factory. At over 300 million pounds, this will be our biggest investment in the plant since it opened in 2003. BMW Motorrad impressed once again. Our two-wheeler brand remains the undisputed global number one in the premium motorcycle segment – again reaching a new all-time high, with 210,000 motorcycles and scooters sold. The GS accounts for nearly a third of those sales. It will be joined later this year by the new 1300 Series model family. I like to ride a motorbike myself, so I can assure you that our line-up is our strongest ever.

We accomplished all this in 2024 – despite the fact that many things unfolded differently than expected, as the year progressed. The delivery stops and recalls associated with an Integrated Brake System IBS component from one of our suppliers had a financial impact – but we responded quickly, keeping our communications transparent.

At the same time, the Chinese market remained weak and demand for electric vehicles declined in several markets. In light of this, in September 2024, we adjusted our guidance. From that point on, we pushed even harder to keep your company on track. That is another thing that sets us apart. We met our updated targets, with more than 2.45 million vehicles delivered to customers and a Group EBT margin of 7.7 percent.

You already know that we sold fewer vehicles in China, where competition is intense and prices are increasingly under pressure. It should come as no surprise that domestic manufacturers are expanding their market share. However, BMW remains number one in its segment. China is still our largest single market for electric vehicles, with over 100,000 BEVs delivered to customers there in 2024. Let us not forget that we have enjoyed above-average success in the Chinese market for many years.

What is also important: Your company has earned an excellent reputation in China, built on years of market presence and sustained investment. Since 2010, we have invested around 116 billion renminbi in our production base in Shenyang alone. We also have a strong R&D network in China, second only to Germany. I’ve visited China several times over the past few months, including attending the “China Development Forum”, where BMW was the exclusive mobility partner, providing 30 fully-electric BMW i7s* and i5s* for the event. All of us on the Board of Management are regularly on the ground to talk directly with our “BMW Team China”. Our China strategy is based on the principle “in China for China”. The same applies to the NEUE KLASSE. The first models produced for the NEUE KLASSE in China will come off the Shenyang assembly line from 2026. Our design team in Shanghai led development of all China-specific models of the NEUE KLASSE. As a result, our local BMW iX3* will be tailored to the needs of Chinese customers – in other words, “from China for China”.

Our market-specific approach has proved effective over many years. The technology race in our industry will be decided in China – where else? – where AI is widely adopted. That is why we are establishing AI partnerships with leading Chinese tech companies, to integrate these innovations directly into our vehicles in China. For example, we are collaborating with Alibaba to develop the next stage in voice interaction between humans and vehicles. DeepSeek will also be a part of this.

We will begin integrating DeepSeek’s AI capabilities into our newest models in China by the end of this year. These examples show that, even when it comes to digital applications, we operate “in China, for China” – and at “China speed”. As our largest single market, getting back on track for growth in China is clearly a priority. That is why we are currently consolidating our retail network.

What matters most to you, as shareholders, is:

What are our plans for 2025?

In a word: growth. Our sales are forecast to increase slightly. What makes us so confident? Our products. Between now and 2027, BMW will bring more than 40 new or updated vehicles to market across all drive train variants. This year, one of our most successful models will celebrate its 50th anniversary: the BMW 3 Series. The latest version of our extremely popular BMW X3 is fresh on the market. We manufacture the X3 worldwide – in Spartanburg, South Carolina, in the USA; Shenyang, China; and Rosslyn, South Africa. This is a clear example of how we are responding flexibly in an increasingly protectionist environment.

We are also realigning our sales and marketing to meet the demands of the future. In some markets, an agency model enables customers to move seamlessly between online and offline channels. MINI has already transitioned 15 markets in Europe. The process for our core BMW brand will be significantly more comprehensive, learning from our experience with MINI. We are using this year and next to prepare for the launch of the BMW brand. I’m sure many of you are wondering: What about our retailers? They remain close by our side, of course. The entire transition is taking place in collaboration with them. Anything else would not be the BMW way. Retailers and our BMW branches remain important to our sales success – and, above all, to our customers’ brand experience.

In uncertain times, making reliable forecasts is not easy. In our guidance for financial year 2025, we responded quickly to current developments, already factoring in the known tariff impacts, as of 12 March 2025. These effects account for approximately one percentage point on the EBIT margin in the Automotive Segment, which we now expect to be within the range of five to seven percent.

Global conditions remain dynamic and uncertain. That’s why many OEMs – not only in our industry – are not issuing forecasts at this time. Not us. After the first quarter, we confirmed our guidance.

Our assumptions are based on fundamental premises. We expect developments in the tariff debate by the summer. We are confident that a good compromise can be reached in the negotiations with the US this year. We are closely monitoring developments and actively preparing for a range of scenarios. In the long term, we remain committed to achieving an Automotive EBIT margin with our target range of eight to ten percent.

A key lever for this is lowering operating costs, which we expect to decline in nominal terms over the course of the year.

For my third point, I’d like to talk about our global footprint.

The global economy is deeply interconnected, with tightly interwoven supply chains. Can this be undone? We don’t believe so. What we do know is that protectionism leads down a dead-end street. Take modern semiconductors, for instance – which use 60 elements from the periodic table. No single country has all of these. In the end, everyone loses:

Products become more expensive and less innovative. And who ends up “footing the bill”? The customer, of course.

Punitive tariffs, rising regional isolation, technological decoupling:

How can we continue to succeed and stay out of geopolitics in such an environment? These are also your top issues as shareholders, which you have shared with us. Today, global reach and appeal are no longer enough. Only companies that are firmly established locally in the regions will remain “in the game”. This is becoming a condition for economic success.

Your company has built this presence in major regions of the world over decades – with production, R&D, sales and marketing and suppliers. We generate added value locally. As a result, we are one of the few truly global players in our industry today – and that gives us a real competitive advantage. Your company has already evolved to the next level, balancing sales and production within our network of global value creation. In other words: In Europe, the US and China, we sold roughly the same number of vehicles, in absolute terms, in 2024, as we produced in each of these regions: about a million cars in Europe, just under 400,000 in the US and around 700,000 in China. No one will be able to replicate this anytime soon.

Another important asset is our “local-for-local” approach, which we are systematically expanding as local supply chains and collaborations become more important. Take our assembly plants for high-voltage batteries: Five new facilities are currently under construction – all of them close to our production in Europe, the Americas and China. Here, we will manufacture the next generation of high-voltage batteries for our electric vehicles.

One of these new facilities is being built right around the corner from here, in Irlbach-Straßkirchen. Trade journal “Auto Motor and Sport” reported on this under the headline: "BMW builds faster than BYD”. You can’t put it more succinctly! In other words, “China speed” – also in Lower Bavaria.

Despite our balanced distribution of sales and production, we will continue to be a major exporter – especially from our domestic market of Germany and our “second home”, the US. 

Our roots lie in Munich and Bavaria – and origins come with a responsibility. In 2024, we produced over one million vehicles at our German plants. That’s about a quarter of the country’s total car production. More than half of these vehicles were sold outside the European Union. We are making an important contribution – in Germany and for Germany as a manufacturing location. As I said: Origins come with a responsibility.

We are carrying this principle forward with the next generation. Right now, on the plant grounds in Munich, we are building a Talent Campus. That name is a promise: a new hub for skills development, serving all 40,000 employees at the Munich location. Talents with various perspectives make us stronger and more innovative. That is, and always will be, our culture at BMW.

This year, we are celebrating “50 years of BMW North America”. I was in Spartanburg in January to receive an award from Republican Governor Henry McMaster, honouring BMW's 30-year commitment to South Carolina. Its political representatives recognise and appreciate that, without BMW, the region and the state would have taken a very different path.

The numbers speak for themselves: We provide 43,000 jobs in South Carolina – both directly and indirectly. Every second vehicle built at our Spartanburg plant is exported, generating an export value of over ten billion US dollars in 2024 alone. Once again, this made your company the largest automotive exporter in the United States by value. Over the past ten years, our total export value has exceeded 100 billion US dollars. Now, we are investing over 1.7 billion US dollars to bring Spartanburg up to speed for e-mobility. The first e-model from Spartanburg will already roll off the assembly line next year.

All these figures underline BMW’s economic impact in the United States. We are the only ones with such a extensive production in the US. Our value creation is comprehensive. These are strong arguments that will play a key role in the ongoing tariff negotiations.

Looking at the global picture: With tariffs, it’s currently everyone against everyone else. We advocate for eliminating tariffs altogether: for our industry, based on fair negotiations. That is why we had submitted a widely respected proposal some time ago, calling for a uniform tariff rate of 2.5 percent between Europe and the US. All of this clearly underlines that your company is in a very strong negotiating position – not only in the US, but across all regions. This sets BMW apart from other OEMs. We are in continuous dialogue with decision-makers everywhere: in Brussels, Berlin, Washington, D.C. and Beijing.

In the European Union, we are taking a firm stance. This includes the EU’s additional tariffs on BEV imports from China. Since October 2024, this has also impacted our electric BMW and MINI models produced in China. We are defending our position and have filed a lawsuit against the European Union, seeking a judicial review of this anti-subsidy measure.

Your company benefits from an integrated global economy. That much is certain. Our position remains unchanged: We stand for open markets and free trade. Growth thrives on openness – not isolation! Period.

My fourth point is about our future-focused project for tech leadership:

BMW is the NEUE KLASSE – and the NEUE KLASSE is BMW.

The 1960s were a long time ago. That was when the original Neue Klasse first entered the market, generating strong momentum for BMW's long-term growth. Today, once again, we are setting the course for your company’s success in the decade ahead, guided by the principle:

BMW is the NEUE KLASSE – and the NEUE KLASSE is BMW.

We do not draw a line between “old” and “new” technology worlds. Every future BMW model will benefit from our technology clusters. The new design language will also be implemented across the entire product range.

The NEUE KLASSE is a huge technology kit that enables everything else.

We are targeting economic advantages through high levels of commonality and economies of scale. Our customers get the latest technology in their vehicles – regardless of which drive train they choose. Now, bear with me, it's about to get a little bit technical: In the NEUE KLASSE, Sheer Driving Pleasure is also about software, such as our BMW Panoramic iDrive. This includes a completely new display system that projects content across the full width of the windscreen. Four high-performance computers control the most important in-car functionalities. These “super brains” deliver up to 20 times more in-vehicle computing power. We have also simplified the new electrical system, with 600 metres less wiring, reduced weight and higher energy efficiency. That’s how we do it in the NEUE KLASSE.

One of the four high-performance computers is our “Heart of Joy”. All drivetrain and driving dynamics functions are integrated into this electronic control unit. International journalists tested it on the track with our factory driver, Jens Klingmann – in our BMW Vision Driving Experience or VDX for short. This is how is went:

Movie

You can't fake that kind of emotion. That is Sheer Driving Pleasure in its purest form – taken to a whole new dimension in our BMW Vision Driving Experience. The VDX is the most powerful prototype we have ever built. Its key data are quite remarkable: 18,000 Newton meter of torque, a downforce of up to 1.2 tonnes and lateral forces of up to 3 G. That is, three times the acceleration due to gravity. These are the kinds of figures typically only seen in top-tier racing cars. We are testing the physical limits of driving. Why are we doing this? The answer is simple: A system that is capable of managing forces like these can – without question – handle everyday driving with ease.

At the Auto Shanghai in April, we took things a step further, building our own test track to showcase the VDX, complete with a massive ramp.

Movie

It was spectacular! Our VDX was a hit – and the social media reach was tremendous. Many of the technologies featured in the VDX will also be used in the NEUE KLASSE.

We are entering the home straight – and we intend to prove that to you, right here, today. For those of you here in the Olympiahalle, please remain in your seats when the vehicles make their entrance in a moment.

Driving scene

Ladies and Gentlemen, the first two production models of the NEUE KLASSE!

As you can see, they are still camouflaged – to maintain the suspense just a little bit longer. You are all “practised” BMW shareholders, so I’m sure you’ll recognise the proportions right away: This model is a sporty sedan in the current BMW 3 Series segment. The other is a typical member of the X family, our BMW iX3* – which will be the first representative of the NEUE KLASSE. You could even say it is getting its own plant, since we are producing the iX3 at our new plant in Hungary. We will be opening the Debrecen location this autumn. The sporty sedan for the NEUE KLASSE won't just simply roll off the production line either. Just a short distance from the Olympiahalle is our more than 100-year-old Munich main plant. We are completely refurbishing it for modern industrial production in the heart of the city.

The second model will ramp up there in 2026. After that, the NEUE KLASSE will be rolled out worldwide across our production network. I would like to invite you all to the IAA MOBILITY here in Munich in September for the world premiere of the BMW iX3 – without camouflage, of course, exactly as it will be available to our customers.

Dear Shareholders!

At BMW, the proverbial glass is never half-empty – it is always at least half-full. We focus on opportunities and pursue them systematically – even in an uncertain environment. BMW will turn 110 next year.

The NEUE KLASSE is just one example of how we continue to take bold, forward-looking action. The BMW way is shaped by confidence.

That’s what our “Team BMW Group” stands for at all our locations worldwide. We never rest on our laurels. Together, we will ensure that your investment remains worthwhile.

All of us at the company truly appreciate your continued support.

Thank you!

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

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

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

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

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

Far-reaching vision,international growth and electromobility

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

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

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

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

Supervisory Board sets course for continuity at the company

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

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

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

BMW Group Corporate Communications

Sebastian Keßler, Communications BMW Group, Strategy

Telephone: +49 89 382-21616

Email: Sebastian.KE.Kessler@bmwgroup.com

Dr. Dominic Stoiber, Communications BMW Group, Strategy

Telephone: +49 89 382-51137

Email: dominic.stoiber@bmwgroup.com

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

Telephone: +49 89 382-24118

Email: max-morten.borgmann@bmwgroup.com

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

Email: presse@bmwgroup.com

The BMW Group

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

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

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

www.bmwgroup.com

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- 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.

- 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.

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.

München/Landshut. BMW Group presenteert zijn volgende grote stap voorwaarts op het gebied van elektrische aandrijftechnologie en luidt daarmee een nieuw tijdperk in van volledig elektrisch rijden. Tijdens het Tech Days evenement in Landshut heeft de BMW Group enkele eerste inzichten gegeven in de ontwikkeling en productie van hoogspanningsbatterijen en elektrische aandrijfsystemen van de zesde generatie BMW eDrive-technologie. Elk volledig elektrisch model van de Neue Klasse zal profiteren van de voordelen. Het eerste Neue Klasse model zal later dit jaar in serieproductie gaan in de fabriek in Debrecen, Hongarije. Onderstaand het overzicht van de technologische hoogtepunten:

• De intelligente centrale besturingseenheid Energy Master op de hoogspanningsbatterij - ontwikkeld door de BMW Group en geproduceerd in de BMW Group fabriek in Landshut.
• Een nieuw type hoogspanningsbatterijconcept dat, samen met de cilindrische cel, een grote technologische sprong belooft - inclusief aanzienlijke verbeteringen in energiedichtheid, laadsnelheid en bereik.
• BMW Group toont ook zijn technologie-openheid met elektrische aandrijfsystemen door het gebruik van verschillende soorten elektromotoren (zonder permanente magneten) op de voor- en achteras.
• De modulaire aanpak van de productie van elektromotoren zorgt voor een uitzonderlijke mate van flexibiliteit voor BMW Group
• BMW Group bundelt expertise van de gehele waardeketen van elektrische mobiliteit in Beieren en Oostenrijk - van ontwikkeling, via inkoop en productie, tot recycling.
• BMW Group toont zowel technologie-openheid als volledige expertise op alle gebieden van elektrische mobiliteit.

Een technologie-open benadering aannemen terwijl men het tempo bepaalt in elektrische mobiliteit
"Voor BMW Group is elektrische mobiliteit de toekomst en een belangrijk groeigebied. Wij lopen voorop met deze aandrijftechnologie. Tegelijkertijd kiezen we bewust voor een technologie-open benadering, erkennend dat de mobiliteitsbehoeften verschillen tussen verschillende regio's van de wereld," legt Dr. Joachim Post, Lid van de Raad van Bestuur van BMW AG, Inkoop en Leveranciersnetwerk, uit. "We willen onze klanten het beste aandrijfconcept voor elke behoefte bieden. Het is mogelijk om beide te doen: de beste aandrijftechnologie voor elke behoefte bieden en voorop lopen in elektrische mobiliteit."

Slanker, sneller, verder: de hoogspanningsbatterijen voor Gen6
Met de nieuwe zesde generatie BMW eDrive-technologie - Gen6 als korte benaming, maakt BMW Group een enorme technologische sprong. Verbeteringen aan de productzijde omvatten een 30% snellere laadsnelheid en een 30% toename in reikwijdte, waarbij bepaalde modellen zelfs hogere cijfers bereiken. Daarnaast profiteert het Gen6 hoogspanningsbatterijconcept van de nieuwe 800V technologie. Gen6 zal dit jaar zijn debuut maken in de Neue Klasse en vervolgens worden gebruikt in de modellen van het volledig elektrische productgamma van BMW Group. Het concept voor de Gen6 hoogspanningsbatterijen is fundamenteel nieuw en zal toepassingen vinden in alle segmenten - tot aan de high-performance modellen van BMW M GmbH. Het nieuwe, nog slankere ontwerp maakt het mogelijk de hoogspanningsbatterij te integreren in een reeks verschillende modellen, ongeacht de hoogte van de auto. De hoogspanningsbatterij neemt de rol van een structureel onderdeel in de bodem van de carrosserieën van de Neue Klasse modellen ("pack-to-open-body") op zich, en de nieuwe cilindrische cellen worden direct in de hoogspanningsbatterij geïntegreerd ("cell-to-pack"). De nieuwe BMW cilindrische cel heeft een 20% hogere energiedichtheid dan zijn voorganger, de Gen5 prismatische batterijcel. BMW Group heeft bidirectioneel opladen als standaard bevestigd voor Gen6.

Zeer intelligente centrale besturingseenheid: de BMW Energy Master
Alle elementen die deze technologische sprong voorwaarts mogelijk maken, komen samen in de BMW Energy Master. Deze centrale besturingseenheid is gepositioneerd op de hoogspanningsbatterij en biedt de interface voor hoog- en laagspanningsvoeding en voor gegevens van de hoogspanningsbatterij. Hij regelt ook de stroomvoorziening voor de elektromotor en het elektrosysteem van de auto. Dit draagt bij aan de veilige en intelligente werking van de hoogspanningsbatterij. De BMW Group heeft een hele reeks nieuwe patenten aangevraagd voor het elektrosysteem van de auto, inclusief de elektronische zekeringen. Zowel de hardware als de software van de Energy Master zijn volledig intern bij BMW Group ontwikkeld. Dit zorgt ervoor dat technologische ontwikkelingen en updates voor de auto onafhankelijk en in realtime kunnen worden geïmplementeerd via Remote Software Upgrades.

"Local for local" benadering voor de assemblage van hoogspanningsbatterijen en leveranciersnetwerk
De hoogspanningsbatterijen voor de Neue Klasse worden geassembleerd in vijf nieuwe productiefaciliteiten die BMW Group dicht bij zijn fabrieken heeft geplaatst als onderdeel van de "local for local" benadering. Zo worden geavanceerde assemblagelocaties voor Gen6 hoogspanningsbatterijen gerealiseerd in Irlbach-Straßkirchen (Neder-Beieren), Debrecen (Hongarije), Shenyang (China), San Luis Potosí (Mexico) en Woodruff, nabij Spartanburg (VS). Deze aanpak waarborgt de productie zelfs in het geval van onvoorziene politieke en economische gebeurtenissen. Daarnaast worden de bestaande locaties versterkt, waarbij banen zowel worden veiliggesteld als gecreëerd. Het "local for local" principe gaat verder in het leveranciersnetwerk voor batterijcellen: om aan de vraag naar Gen6 te voldoen, heeft BMW Group contractuele overeenkomsten gesloten voor vijf batterijcelfabrieken - verspreid over Europa, China en de VS - met verschillende partners.

"Cell-to-pack" en "pack-to-open-body"
De productie van de Gen6 hoogspanningsbatterijen volgt de principes "cell-to-pack" en "pack-to-open-body". "Cell-to-pack" houdt in dat de cilindrische cellen - geproduceerd door de leveranciers volgens de specificaties van BMW Group - direct in de behuizing van de hoogspanningsbatterij worden geplaatst, zonder de tussenstap van een module die moet worden geproduceerd. "Pack-to-open-body" verwijst naar de nieuwe rol van de hoogspanningsbatterij als een structureel onderdeel in de architectuur van de auto – de batterij sluit de carrosserie aan de onderzijde af en fungeert dus meteen als bodem. Hier zijn tal van door BMW Group gepatenteerde innovaties te vinden.

Know-how uit Beieren en Oostenrijk - wereldwijd gevraagd
Voordat de serieproductie van de hoogspanningsbatterijen wereldwijd van start gaat, zullen de productieprocessen worden ontwikkeld en pre-seriebatterijen aan grondige tests worden onderworpen. Dit zal gebeuren in de pilotfabrieken van de BMW Group voor hoogspanningsbatterijen in Parsdorf, Hallbergmoos en München. De nieuwe serieproductiefabrieken over de hele wereld zullen dan klaar zijn. De product- en procesexpertise is gecentreerd in Beieren. De productie van de Energy Master zal plaatsvinden in BMW Group Fabriek Landshut, die vervolgens alle assemblagefabrieken voor hoogspanningsbatterijen over de hele wereld zal bevoorraden. Daar zal de zeer intelligente besturingseenheid op de hoogspanningsbatterij worden geïnstalleerd. De elektromotor met zesde generatie BMW eDrive-technologie wordt geproduceerd in BMW Group Fabriek Steyr in Oostenrijk, waar zich ook een ontwikkelingscentrum voor elektrische aandrijfsystemen en thermisch beheer bevindt.

Productie van de Energy Master in de BMW Group Fabriek Landshut
Een ultramodern productiesysteem voor de BMW Energy Master neemt vorm aan in de fabriek in Landshut. De fabriek produceert momenteel de zeer complexe besturingseenheid in pre-serie modellen. De serieproductie op de eerste productielijn begint in augustus 2025, met een verdere uitbreidingsfase die volgt in medio 2026. Dit is de eerste keer dat de ontwikkeling en productie van deze centrale besturingseenheid intern bij BMW Group plaatsvindt. "Als het grootste interne componentenfabrikant van het bedrijf speelt Landshut een belangrijke rol voor de Neue Klasse," zegt Dr. Joachim Post. "De fabriek is een innovatiehub en een motor van transformatie." Rond 200 mensen zullen in dienst zijn in het productiegebied van de Energy Master in Landshut wanneer de productie begint, oplopend tot wel 700 mensen naarmate het verder opschakelt. BMW Group heeft sinds 2020 investeringen in de hoge honderden miljoenen euro's gekanaliseerd in de uitbreiding van elektrische mobiliteit in de fabriek in Landshut, waarmee zowel de productiefaciliteit zelf als de status van Duitsland als industriële grootmacht op de lange termijn wordt versterkt. Het modulaire productiesysteem dat wordt gebruikt om de Energy Master te produceren, is ook volledig intern ontworpen door BMW Group. Het wordt bevoorraad met subcomponenten door een door BMW Group opgezette toeleveringsketen. Dit strekt zich uit tot de n-tier toeleveringsketen voor leveringskritische componenten zoals halfgeleiders. De voordelen van deze opzet zijn zowel qua kosten als leveringszekerheid zichtbaar. Het schaalbare productiesysteem stelt het bedrijf in staat om snel en flexibel in te spelen op marktvereisten. De hoge mate van automatisering, met tot 400 robots in de laatste uitbreidingsfase, maximaliseert de efficiëntie. Uitgebreide procesbewaking, waaronder het gebruik van op AI gebaseerde camerasystemen, en 100-procent eindcontroles van de lijn in een uiterst schone omgeving zorgen voor een optimale kwaliteit.

Verschillende recyclingprocessen binnen de waardeketen
Naarmate elektrische mobiliteit toeneemt, komt er steeds meer aandacht voor de recycling van hoogspanningsbatterijen aan het einde van hun levenscyclus. Onder een langetermijnpartnerschap met SK tes - een toonaangevende aanbieder van innovatieve technologische levenscyclusoplossingen - worden kobalt, nikkel en lithium uit afgedankte batterijen teruggewonnen van BMW Group en geïntegreerd in de toeleveringsketen voor de productie van nieuwe batterijen. Deze gesloten kringloopbenadering verhoogt de efficiëntie en veerkracht van BMW Group als onderdeel van een circulaire economie. BMW Group zal tot 2026 een soortgelijk pad volgen in de VS, Mexico en Canada met een apart partnerschap.

Innovatieve directe recycling bij de BMW Group
BMW Group onderzoekt ook andere recyclingopties in het waardecreatieproces. Een voorbeeld hiervan is de directe recyclingmethode die intern is ontwikkeld. BMW Group werkt samen met zijn joint venture Encory om een competentiecentrum voor batterijcelrecycling op te zetten in Neder-Beieren, waar het bedrijf zijn directe recyclingideeën in de praktijk zal brengen. Dit innovatieve proces zal het mogelijk maken om restmaterialen uit de productie van batterijcellen en hele batterijcellen mechanisch af te breken tot hun waardevolle samenstellende componenten. De op deze manier verkregen grondstoffen zullen direct opnieuw worden gebruikt in het pilotproductieproces voor batterijcellen in de competentiecentra van het bedrijf.

Technologie-open benadering voor elektrische mobiliteit: het nieuwe e-drive-systeem van Gen6
BMW Group heeft het principe van een elektrisch aangedreven synchrone motor (EESM) behouden voor zijn Gen6 aandrijfeenheid. Bij dit type synchrone motoren worden geen permanente magneten gebruikt, maar wordt het magnetische veld in de rotor (het draaiende gedeelte in een elektromotor) gegenereerd door wikkelingen die worden gevoed met gelijkstroom. Op deze manier kan de sterkte van het magnetische veld van de rotor optimaal worden aangepast aan de mate van belasting. Dit leidt tot zowel uitstekende efficiëntieniveaus in de meest voorkomende rijsituaties bij onze klanten evenals een constante vermogensafgifte bij hoge rotatiesnelheden. Net als bij de Gen5 versie zal de synchrone motor boven de achteras worden gepositioneerd en voorzien zijn van een compacte behuizing die de elektromotor, de vermogenselektronica en de transmissie omvat. Veel van de technische details van de motor zijn gecreëerd met behulp van gepatenteerde expertise, waarbij alleen de niet-afgesloten rotor al goed is voor meer dan tien patenten.

Neue Klasse omvat ook ASM-technologie
De Gen6 aandrijflijn maakt gebruik van een tweede, aanvullende elektromotortechnologie in de vorm van de asynchrone motor (ASM). Hierin wordt het magnetische veld van de rotor in plaats van te worden gegenereerd door permanente magneten (PSM) of elektrische opwinding (EESM), opgewekt door de stator. Bij dit type motor neemt de rotor de vorm aan van een metalen kooi. De asynchrone motor biedt het voordeel van een compacter ontwerp en superieure kostenefficiëntie. De ASM-motorvarianten zullen worden gemonteerd op de vooras van Neue Klasse modellen met BMW xDrive.

Uitgebreide verbeteringen aan EESM-technologie
Naast de toevoeging van ASM technologie, heeft de EESM technologie ook een grote upgrade ondergaan voor Gen6: rotor, stator en omvormer zijn allemaal volledig ontworpen voor de nieuwe 800V-architectuur van de Gen6-technologie om de prestaties en efficiëntie van het aandrijfsysteem te maximaliseren. Dit is verder geholpen door een volledig herontwerp van de olie- en waterkoelsystemen. Daarnaast zijn de experts van BMW Group er ook in geslaagd om de elektromotor en de centrale behuizing te verbeteren qua gewicht en stijfheid. De transmissie maakt nog steeds gebruik van één vaste overbrenging in twee stappen, maar is verder geoptimaliseerd door verbeteringen aan de geometrie en koeling, lagere wrijvingsniveaus en aangenamere akoestiek. Het ‘brein’ van de elektrisch aangedreven synchrone motor, de omvormer, beschikt nu over 800V-technologie samen met siliciumcarbide (SiC) halfgeleiders om de efficiëntie te verhogen. De omvormer is volledig geïntegreerd in de behuizing van de elektromotor. Zijn taak is om de gelijkstroomvoeding van de hoogspanningsbatterij om te zetten naar wisselstroom voor gebruik in de elektromotor. De omvormer is intern ontwikkeld door BMW Group en wordt geproduceerd in de fabriek in Steyr, Oostenrijk.

Lager gewicht, kosten en energieverliezen – grotere efficiëntie in de auto
De resultaten die zijn verkregen door het intelligent integreren van nieuwe technologieën in de elektrische aandrijflijn en het consequent verbeteren van bestaande systemen zijn indrukwekkend. In vergelijking met een Gen5 xDrive model, kan een toekomstig Neue Klasse model met EESM- en ASM technologie op de volgende verbeteringen rekenen: energieverliezen zijn met 40% verminderd, kosten met 20% en gewicht met 10%. Door verschillende soorten elektromotoren te combineren, is de technologie-open benadering van BMW Group dus duidelijk zichtbaar binnen het veld van elektrische mobiliteit. In de toekomst zullen klanten kunnen kiezen uit modellen die zijn uitgerust met één, twee, drie of vier elektromotoren, afgestemd op hun individuele voorkeuren en behoeften. De zesde generatie BMW eDrive-technologie is een belangrijke factor in de totale toename van de voertuigefficiëntie van ongeveer 20 procent voor de Neue Klasse. Dit cijfer is gebaseerd op een vergelijking met de huidige generatie volledig elektrische voertuigen van BMW Group.

Modulair concept biedt cruciaal voordeel voor de productie van elektromotoren
Het productieconcept voor het Gen6 elektrische aandrijfsysteem gebruikt het principe van modulaire bouwstenen. Dit vormt de basis voor een zeer flexibele productie van verschillende varianten van elektrische aandrijvingen over het gehele Neue Klasse-modelassortiment. Het modulaire ‘bouwsteen’-concept leidt tot positieve schaalvoordelen en kostenbesparingen in ontwikkeling en productie. Het heeft ook het effect van het verbeteren van de schaalbaarheid van productievolumes. De modulaire aanpak zorgt voor een hoge mate van flexibiliteit in productie, de toeleveringsnetwerken en inkoop.

De Gen6 elektrische aandrijfsystemen: gemaakt in Steyr
De serieproductie van de Gen6 elektrische aandrijfsystemen zal in de zomer van 2025 van start gaan in de BMW Group Fabriek Steyr. De pre-productie is al in september 2024 begonnen in de Oostenrijkse faciliteit. De pre-productiemotoren ondergaan strenge tests en sommige worden al gemonteerd in testmodellen van de Neue Klasse uit de fabriek in Debrecen. Tegen 2030 zal BMW Group meer dan een miljard euro hebben geïnvesteerd op de locatie sinds de start van het project in 2022 om zijn ontwikkelings- en productie-expertise voor elektrische aandrijfsystemen uit te breiden. Dankzij de toename van de capaciteit zal de fabriek haar status als de toonaangevende faciliteit van de BMW Group voor aandrijfsystemen behouden. De fabriek ontwikkelt en bouwt al meer dan 40 jaar verbrandingsmotoren voor de merken BMW en MINI. De vele jaren ervaring en hoge mate van expertise van BMW Group Fabriek Steyr op het gebied van aandrijfsystemen maken het de ideale locatie voor de productie van de Gen6 elektrische motoren. Het heeft een jaarlijkse productiecapaciteit van 600.000 elektrische aandrijfeenheden. Diesel- en benzinemotoren worden daar nog steeds geproduceerd naast de elektromotoren. Tegen 2030 zou ongeveer de helft van de medewerkers ter plaatse moeten werken in elektrische mobiliteit – een essentiële stap voor het veiligstellen van de meer dan 4.700 banen in de fabriek op de lange termijn. In de toekomst zullen alle belangrijke componenten van de innovatieve, sterk geïntegreerde elektrische aandrijfeenheid – denk aan de rotor, stator, transmissie, omvormer en behuizing – worden geproduceerd in Steyr. Dit omvat voor het eerst de productie van de omvormers in een in-house schone ruimte omgeving, waardoor de motorenfabriek de wereld van de elektrotechniek betreedt. De elektrische aandrijfcomponenten worden gebouwd op twee nieuwe assemblagelijnen in Steyr.

Thermisch beheer: complexe interactie, cruciaal voor prestaties
Thermisch beheer omvat een zeer complexe interactie tussen verschillende systemen in een elektrisch voertuig en is van cruciaal belang voor een groot aantal prestatieparameters, waaronder bereik, werkelijk verbruik, acceleratie en laadtijd. Thermisch beheer is een kwestie van constant de temperatuur van de elektromotor, vermogenselektronica en hoogspanningsbatterij in het optimale bereik houden, terwijl tegelijkertijd de normen voor passagierscomfort worden gehandhaafd. Efficiënt thermisch beheer is ook belangrijk voor snel opladen. Hier moet de batterijtemperatuur binnen een gedefinieerd venster worden gehouden om optimaal gebruik te maken van de beschikbare laadcapaciteit. In tegenstelling tot verbrandingsmotoren geven elektromotoren weinig warmte af. Dit betekent dat, afhankelijk van de toestand, de batterij en het interieur niet alleen gekoeld, maar ook verwarmd moeten worden. De locatie Steyr ontwikkelt de thermische beheersystemen voor alle elektrische modellen van BMW Group. Het ontwikkelingscentrum van de fabriek is ook verantwoordelijk voor het brein in het hart van de elektromotor – de omvormer.

BMW Group Fabriek Landshut – een veelzijdige componentenfabrikant

BMW Group Fabriek Landshut is de grootste componentenfabriek van BMW Group ter wereld en levert componenten aan alle auto- en aandrijfsysteemfabrieken van het bedrijf. De ongeveer 3.700 medewerkers produceren een breed scala aan geavanceerde componenten voor modellen van BMW Group. In nauwe samenwerking met het Research and Innovation Centre (FIZ) van BMW Group in München speelt de fabriek in Landshut een cruciale rol als innovatiehub voor de auto-industrie. Het ontwikkelt baanbrekende technologieën en productieprocessen die dienen om het concurrentievoordeel van het bedrijf te behouden. In de aanloop naar de Neue Klasse investeert de locatie ongeveer €200 miljoen in zijn lichtmetaalgieterij om de jaarlijkse productiecapaciteit voor de elektrische motorbehuizingen te verhogen. Het in Landshut ontwikkelde en gepatenteerde Injector Casting (ICA)-proces is een uitstekend voorbeeld van de innovatieve kracht van de fabriek. Dit wereldwijd unieke proces wordt gebruikt om de zeer complexe aluminium behuizingen van de elektromotoren te vervaardigen die nieuwe normen stellen voor lichtgewicht ontwerp en functionele integratie.

Noot voor de redactie

Informatie:

BMW Group Nederland, Corporate Communications

Bryan Barendrecht

Tel.: (0)70 41 33 227

bryan.barendrecht@bmw.nl / www.press.bmwgroup.nl

Wilt u geen persberichten meer van ons ontvangen? Klik hier

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BMW Group.
BMW Group is met de merken BMW, MINI, Rolls-Royce en BMW Motorrad wereldwijd de leidende fabrikant van premium auto’s en motorfietsen en biedt ook premium financiële en mobiliteitsdiensten. Het BMW Group productienetwerk bestaat uit 30 productievestigingen wereldwijd; het verkoop- en distributienetwerk spreidt zich uit over meer dan 140 landen.

In 2024 verkocht BMW Group wereldwijd meer dan 2,45 miljoen personenauto's en meer dan 210.000 motorfietsen wereldwijd. De winst vóór belastingen in het boekjaar 2023 bedroeg € 17,1 miljard op een omzet van € 155,5 miljard. Per 31 december 2023 telde de BMW Group 154.950 medewerkers.

Langetermijndenken en verantwoord handelen zijn altijd de basis geweest van het economische succes van de BMW Group. Duurzaamheid is een belangrijk onderdeel van de bedrijfsstrategie van de BMW Group, van de toeleveringsketen via de productie tot het einde van de gebruiksfase van alle producten.

www.bmwgroup.com

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Rijswijk. Net zoals afgelopen jaren is BMW Motorrad dit jaar weer aanwezig op de MOTORbeurs Utrecht in de Jaarbeurs van 20 tot en met 23 februari 2025. Samen met nagenoeg alle andere motor- en motorscootermerken, onder de noemer ‘All Brands United’. Op de stand van BMW Motorrad van maar liefst 250 vierkante meter worden 19 modellen ten toon gesteld worden, waarvan zes modellen zijn debuut op Nederlandse bodem maken. De modellen met een Nederlands debuut zijn de BMW M 1000 R, BMW M 1000 RR, BMW S 1000 R, BMW R 12 S, BMW F 900 R én BMW F 900 XR. Ook is het mogelijk om op het Testparcours in de buurt van de BMW Motorrad stand een proefrit te maken waarbij de bezoekers een keuze kunnen maken uit 25 verschillende modellen.

De complete GS familie.
De GS modellen zijn iconen die al meer dan vier decennia fans wereldwijd inspireren om hun eigen #SpiritOfGS avonturen te beleven. De krachtige aandrijvingen leveren precies de soevereiniteit waarop je op onbekend terrein wilt vertrouwen.

Ultramoderne techniek en verschillende rijmodi zorgen voor veiligheid, optimale grip en optimaal rijgedrag voor elke ondergrond en voor elk weertype. Dit jaar op de MOTORbeurs Utrecht heeft BMW Motorrad alle modellen uit de Adventure familie op de stand staan:

De BMW F 800 GS

De BMW F 900 GS

De BMW F 900 GS Adventure

De BMW R 1300 GS

De BMW R 1300 GS Adventure

Maak kennis met elk BMW M model van BMW Motorrad
De M modellen van BMW Motorrad worden in de motorsport ontwikkeld, op de racetrack getest en in races beproefd, waarbij de prestatie van het winnen van de wereldtitel door Toprak Razgatlioglu in de WorldSBK, als onderdeel van het BMW fabrieksteam, in 2024 de kroon heeft gespannen. De BMW M 1000 RR, BMW M 1000 R en de BMW M 1000 XR zullen prominent op de stand staan tijdens de MOTORbeurs Utrecht. De vernieuwde M 1000 RR en M 1000 R zijn zelfs voor het allereerst in Nederland te zien. Zelfs voor de liefhebbers van BMW M is er wat moois te zien op de stand van BMW Motorrad, want ook de vernieuwde BMW M2 staat op display.

Ook voor het allereerst in Nederland te zien:
de F 900 R, F 900 XR, S 1000 R én BMW R 12 S
Naast het debuut van de nieuwe M 1000 RR en M 1000 R op Nederlandse bodem, zijn ook de F 900 R, F 900 XR, S 1000 R en de R 12 S voor het allereerst te zien in Nederland. De nieuwe F 900 R en F 900 XR zijn vanaf 8 maart in de showroom te zien, maar de bezoekers van de MOTORbeurs Utrecht kunnen deze modellen in meerdere varianten bekijken en ervaren op het Testparcours. De desbetreffende modellen zijn te rijden in de standaard variant, verlaagde variant, maar ook als de variant die met het A2 motorrijbewijs gereden mag worden.

25 modellen beschikbaar voor proefritten op het Testparcours
Liefhebbers van het merk BMW Motorrad kunnen zelf het rijplezier van een BMW motorfiets ervaren met een korte proefrit op het Testparcours in dezelfde hal als de stand van BMW Motorrad. Er staan maar liefst 25 verschillende modellen klaar voor proefritten. Deskundige instructeurs staan voor de bezoekers klaar om begeleiding en advies te bieden.

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/

Munich. The new BMW 2 Series Gran Coupé has made its first public appearance in a highly exclusive setting. BMW presented the new edition of its elegantly sporty four-door model at ApeFest 2024 in Lisbon just two days after the official start of communication. The car’s world premiere was one of the highlights of the event, which is staged annually by the Bored Ape Yacht Club (BAYC). BAYC is one of the best-known non-fungible token (NFT) collections from American company Yuga Labs and comprises a total of 10,000 unique digital collector’s items featuring pictures of cartoon apes. ApeFest is primarily put on for the holders of these digital goods – a Web3 community boasting high levels of technological affinity, remarkable creative powers and strong innovative spirit, making its members a perfect match for the BMW brand. At ApeFest they come together to connect, shape the future of Web3 technology and enjoy access to exclusive digital content and experiences that allow them to come up with new business ideas too, among other things. BMW once again partnered the event this year.

“We are delighted that ApeFest has provided us with the ideal setting for presenting the progressive character of the new BMW 2 Series Gran Coupé to a tech-loving audience made up of digital enthusiasts and early adopters,” explained Stefan Ponikva, Vice President BMW Group Customer Formats and BMW Brand Experience. “The community’s response to the digital innovations is phenomenal. Not only did we manage to bring the Dookey Dash: Unclogged game – a community favourite – into the vehicle, we also managed to bring the vehicle into the game as an in-game car.”

New BMW 2 Series Gran Coupé starred in art contest for the BAYC community: one-off model unveiled at ApeFest 2024.

The ApeFest community had a unique opportunity to experience the second-generation BMW 2 Series Gran Coupé up close ahead of its official launch. Two specimens of the compact four-door model – both featuring an in-car gaming experience – were on show, together with a concept car in a unique design that was the product of an online art contest.

In the run-up to ApeFest, Yuga Labs launched an online art contest within the community with the assistance of BMW. Rida, an artist and 3D graphics expert from Dubai, came out on top in the contest against four other contenders.

With its clean lines, golden accents and rich textures, the exterior of the BMW 2 Series Gran Coupé he designed in the ApeCar look emphasises the vehicle’s elegant sportiness and premium appeal, while a mosaic pattern made up of cartoon ape silhouettes delivers a message of community. BMW added bespoke BMW M Performance Parts to give the one-off model a sharper appearance for an even more dynamic and progressive feel.

Following the spectacular reveal at this year’s ApeFest, Bored Ape or Mutant Ape NFT holders had the opportunity to register their interest in buying the unique model. Once the future owner of the ApeCar has been chosen from all the prospective buyers, BMW will build the customised BMW 2 Series Gran Coupé in a configuration adapted to the buyer’s home market and will also equip it with a selection of exclusive digital features.

New title for action-packed in-car gaming – Dookey Dash: Unclogged.

BMW has paved the way for a customisable selection of additional digital services with BMW Operating System 9. These are made available via both the BMW ConnectedDrive Upgrades facility and an ever-expanding selection of third-party apps offered as part of the optional BMW Digital Premium package. In addition to an extensive range of audio and video streaming services, the offering also includes a very innovative form of in-car gaming based on the AirConsole gaming platform.

BMW capitalised on the avant-garde mood at ApeFest to present a beta version of the new title Dookey Dash: Unclogged in collaboration with the game’s creator Yuga Labs. The updated version of this action-packed endless runner game can now also be played on iOS and Android mobile devices and will be rolled out in the coming weeks for all vehicles with BMW Operating System 9 and the BMW Digital Premium package. A special gimmick has been included that allows players to select a 3D model of the new BMW 2 Series Gran Coupé as a speedy underwater car and then race though a fictional underworld with it. Players chasing the high score have to avoid obstacles, break through barriers and collect boosters and power-ups.

This innovative form of in-car gaming offered in current BMW models allows the occupants to pass the time by playing casual games on the control display while the vehicle is parked. Dookey Dash: Unclogged is available as part of the BMW Digital Premium package along with a dozen other video games and is imported over the air from the BMW ConnectedDrive Store. ApeFest attendees had the opportunity to test out the hit game ahead of its official release.

BMW Lifestyle with exclusive, customised ApeFest collection.

Customisation means a lot to the BAYC community, so BMW Lifestyle came up with a special design for selected products from the current collection. This cult BMW Mechanics Jacket, which serves as a club jacket, is a particularly noteworthy highlight. Members get an interactive patch for the jacket allowing selected interaction with BMW. This smart fashion piece also includes a built-in NFC chip that enables the members to connect with one another.

The exclusive articles were available to buy from the BMW Lifestyle pop-up store at the event. The products could also be personalised with a print gun to make them truly unique.

BMW M Driving Experience scores a hit with specially developed version of BMW M Mixed Reality (MMR).

ApeFest 2024 also provided the venue for the premiere of a new and innovative version of BMW M Mixed Reality – a one-of-a-kind driving experience in which the physical and virtual worlds merge into one for the driver. Thanks to the very latest VR and GPS technology, the vehicle itself becomes the controller and can be guided through a virtual world by the driver.

The existing MMR was further refined for ApeFest and augmented with 3D elements from a partner for the first time. BAYC-specific content, such as apes, unicorns and crocodiles, was added to the mixed-reality experience with the help of the software specialists from Yuga Labs.

The ApeFest attendees set off on a captivating phygital tour through the pulsating cityscape of Lisbon in BMW M models that had been specially designed for the event. The experience allowed them to enjoy pushing the BMW M2 (fuel consumption, combined in the WLTP cycle: 9.8 – 9.6 litres/100 km [28.8 – 29.4 mpg imp]; CO₂ emissions, combined in the WLTP cycle: 223 – 218 g/km; fuel consumption, combined according to Pkw-EnVKV: 10.2 – 9.8 litres/100 km [27.7 – 28.8 mpg imp]; CO₂ emissions, combined according to Pkw-EnVKV: 231 – 222 g/km; CO₂ class according to Pkw-EnVKV: G) and BMW M4 Competition Coupé (fuel consumption, combined in the WLTP cycle: 9.9 – 9.7 litres/100 km [28.5 – 29.1 mpg imp]; CO₂ emissions, combined in the WLTP cycle: 223 – 219 g/km; fuel consumption, combined according to Pkw-EnVKV: 9.9 – 9.8 litres/100 km [28.5 – 28.8 mpg imp]; CO₂ emissions, combined according to Pkw-EnVKV: 223 – 221 g/km; CO₂ class according to Pkw-EnVKV: G) models to their limits in the virtual world.

ApeFest attendees were also treated to the sight of a heavily modified BMW M2 Ice Racer. It was on display in the Convento Do Beato, the main exhibition area of ApeFest, where this ambassador of the BMW M Driving Experience’s ultra-exclusive winter programme attracted a great deal of attention. The highlight event at the BMW Group’s winter test centre in Arjeplog, Sweden combines drift training on ice with an individually tailored programme of accompanying activities and can be booked exclusively by members of the BAYC community.

The fuel consumption, CO₂ emissions, electric power consumption and operating range figures are determined according to the European Regulation (EC) 715/2007 in the version applicable. They refer to vehicles in the German market. Where a range is shown, the figures take into account the impact of any optional extras.

All values were calculated based on the new WLTP test cycle. WLTP values are taken as the basis for determining vehicle-related taxes or other duties based (at least inter alia) on CO₂ emissions as well as eligibility for any applicable vehicle-specific subsidies. Further information on the WLTP measurement procedure can also be found at www.bmw.de/wltp.

In the event of enquiries please contact:

Corporate Communications

Cypselus von Frankenberg, Product Communication BMW Automobiles

Telephone: +49-89-382-30641

E-mail: Cypselus.von-Frankenberg@bmw.de

Alexandra Landers, Head of Product and Brand Communication BMW

Telephone: +49-89-382-30871

E-mail: Alexandra.Landers@bmw.de

Internet: https://newsroom.bmwgroup.com/global/en

E-mail: presse@bmw.de

The BMW Group

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

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

The success of the BMW Group has always been based on long-term thinking and responsible action. Sustainability is a vital element 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

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Rijswijk. Op het hoofdkantoor van BMW Group Nederland kwamen 160 nieuwe medewerkers van Accountants- en adviesorganisatie EY bijeen om hun nieuwe leaseauto op te halen. De Young Professionals ontvingen elk een MINI Cooper Electric in de kleur Melting Silver afgeleverd door dealerorganisatie Ekris en geleased via Alphabet. "We zijn trots dat EY voor deze groene mobiliteitsoplossing heeft gekozen en willen hen bedanken voor het vertrouwen in ons voor het leveren van deze geweldige vloot van elektrische MINI’s”, Carlo Cillessen - Business Manager Ekris Retail BV.

Met duurzaamheid in het achterhoofd, reisden de medewerkers van EY per openbaar vervoer naar Rijswijk voor deze bijzondere overhandiging. Tijdens een informele bijeenkomst, kregen zij uitgebreide toelichting op de functies en mogelijkheden van hun nieuwe, volledig elektrische auto.

Na afloop konden de enthousiaste MINI ambassadeurs instappen in hun emissievrije MINI om huiswaarts te rijden. Met deze duurzame mobiliteitsoplossing zet EY een grote stap vooruit in het verduurzamen van hun wagenparken. Een mooi voorbeeld van hoe EY op innovatieve wijze invulling geeft aan haar maatschappelijke verantwoordelijkheid

"We zijn erg blij met deze uitbreiding van het wagenpark voor onze Young Professionals," aldus Kees Eriks - eindverantwoordelijke afdeling Mobility.  "De MINI Electric past perfect bij onze duurzame ambities en biedt onze medewerkers een aantrekkelijke en milieuvriendelijke mobiliteitsoplossing. Bovendien sluit deze samenwerking naadloos aan bij onze doelstelling om de CO2-uitstoot binnen ons bedrijf verder te verlagen."

MINI en EY

EY heeft al jaren een goede relatie met dealergroep Ekris en MINI Nederland. Om deze order te realiseren hebben zij wederom gekozen voor Ekris en Alphabet als leveranciers van deze MINI’s. "Wij zijn verheugd met deze samenwerking tussen EY, MINI Nederland, Ekris en Alphabet. Een resultaat uit een perfecte samenwerking tussen dealer, het Corporate Sales Team van BMW Nederland en de leasemaatschappij. Het is fantastisch om nieuwe MINI rijders te kunnen voorzien van een auto waar zij ongetwijfeld veel plezier aan zullen beleven”, Coert Jan Krietemeijer – Head of MINI.

München. Met het komende Rocket League Seizoen 16 zal de nieuwe BMW 1 Serie een spectaculair debuut maken in de populaire online videogame van Epic Games. Rocket League is een autovoetbalspel boordevol actie waarin spelers proberen een bal in het doel van de tegenstander te schoppen met behulp van verschillende raketaangedreven voertuigen. Spelers kunnen alleen of in teams van maximaal drie strijden, waarbij ze ingenieuze strategieën en spectaculaire stunts gebruiken om de overwinning te behalen. Voordat seizoen 16 begint, lanceren BMW en Epic Games een competitie en roepen ze de wereldwijde gaming community op om een sticker voor de nieuwe BMW 1 Serie te ontwerpen op basis van hun persoonlijke wensen. Het winnende ontwerp van de Rocket League x BMW Decal Design Contest wordt vervolgens in de game geïntegreerd als onderdeel van een patch halverwege het seizoen.

Het aanpassen van hun voertuigen is een belangrijk onderdeel van de spelervaring in Rocket League. Een grote hoeveelheid aan stickers, wielen en andere aanvullende onderdelen die op de voertuigen kunnen worden aangebracht, bieden een breed scala aan opties om uw persoonlijkheid tot uitdrukking te brengen. De mogelijkheid om voertuigen aan te passen stimuleert creativiteit en verhoogt de motivatie om je te onderscheiden van andere spelers door nieuwe voorwerpen te ontgrendelen. De nieuwe BMW 1 Serie zal in de game verkrijgbaar zijn in Skyscraper Grey metallic lak en kan worden aangepast met universele stickers, wielen, toppers en antennes. Dit omvat exclusieve stickers en kleurstellingen die door BMW zijn ontwikkeld in samenwerking met Epic Games.

Lancering van de Rocket League x BMW Decal Design Contest.
Om de spanning voor het 16^e seizoen van Rocket League op te bouwen en de creativiteit van spelers uit te dagen, combineert de gerenommeerde gameontwikkelaar en premiumautofabrikant het debuut van de nieuwe BMW 1 Serie met de Rocket League x BMW Decal Design Contest. Tussen 9 en 30 augustus 2024 krijgen spelers de mogelijkheid om hun eigen Rocket League Decal-ontwerp te maken voor de nieuwe BMW 1 Serie. De deelnemers krijgen tweedimensionale schetsen die de auto vanuit verschillende perspectieven laten zien. De sjablonen kunnen worden gedownload op B.MW/DecalContest en aangepast worden met de tools van uw keuze. Of het nu digitaal op de computer, met potlood of in olie- of aquarelverf is, creativiteit kent geen grenzen. Afgewerkte ontwerpen kunnen via Instagram en X worden ingediend met de hashtags #RocketLeagueBMWDecalContest en #Contest.

Half oktober worden de beste ontwerpen geselecteerd tijdens een livestream van de awardshow. De beste drie ontwerpers ontvangen een prijzengeld van $3.000 voor de winnaar, $2.000 voor de tweede plaats en $1.000 voor de derde plaats. Het winnende ontwerp is onmiddellijk na een patch halverwege het seizoen in Rocket League beschikbaar voor alle spelers die de nieuwe BMW 1 Serie al via Rocket Pass Premium hebben gekocht.

De nieuwe BMW 1 Serie: ook in de echte wereld een pionier op het gebied van gamen.
Ook in de echte wereld is de nieuwe BMW 1 Serie een opwindend voorstel met zijn sportieve karakter en geavanceerde mate van digitalisering. Het belichaamt het kenmerkende rijplezier van het merk in het compacte premiumsegment met zijn dynamische ontwerp, een volledig herzien aandrijflijnportfolio en uitgebreid verbeterde chassistechnologie. De nieuwste versie van het BMW iDrive-display en besturingssysteem, gebaseerd op BMW Operating System 9, biedt een innovatieve gebruikerservaring. Het vormt de basis voor een zeer individuele selectie van digitale diensten, die beschikbaar zijn voor klanten met de BMW ConnectedDrive-upgrades en het nieuwe BMW Digital Premium-aanbod.

Dit omvat ook gamen in de auto op het BMW Curved Display met het AirConsole-platform, dat een steeds groter aanbod aan casual games biedt. Het assortiment omvat klassiekers zoals "Who wants to be a millionaire?" en titels zoals “Starlit Kart”. Hiermee kunnen bestuurders en passagiers tijd doorbrengen in een stilstaand voertuig, alleen of in multiplayer-modus. Het enige wat je nodig hebt is je smartphone, die als controller fungeert. Dit maakt de nieuwe BMW 1 Serie tot de pionier op het gebied van gameplezier in zijn segment.

- 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.

Current photo and video assets can be downloaded from the BMW Group Classic Media Server:
https://www.bmwgroupclassic-downloads.com/Events

Munich / Cernobbio. We are all privileged to look back on a weekend full of spectacular automobiles representing their era. The dreamlike flair of the Grand Hotel Villa d’Este on the shores of Lake Como offered the perfect stage to experience the magic of mobility at this year´s edition of the Concorso d’Eleganza Villa d’Este in all its fabulous
diversity. The world’s arguably most exclusive and traditional heritage festival for automobiles captivated a host of visitors from 24th May to 26th May at the venue. The Jury selected the ultimate stellar winner from the participants campaigning in the eight glamorous classes.

An Alfa Romeo 8C 2300, styled in the coachwork design of a spider by Figoni from the 1930s, won the contest. On Sunday the proud owner of the HM Collection from Belgium, received the prestigious winner’s prize Trofeo BMW Group – Best of Show. It was presented by Helmut Käs, Head of BMW Group Classic and President of the Concorso d‘Eleganza Villa d´Este, and Wilhelm Schmid, CEO of A. Lange und Söhne. Alongside the stunning trophy, the winner selected by the Jury also received a unique model of the 1815 Chronograph in white gold. The exclusive watch was created by A. Lange und Söhne especially for the winner of the Best of Show.

This year’s winner of the Coppa d’Oro Villa d’Este selected by Public Referendum was the McLaren F1 from the year 1995. A supremely successful supercar in the form of the racing car presented by Tony Vassilopoulos from Great Britain gained the highest number of votes from visitors to the event.

The BMW Group Cocktail started the official program in glamorous fashion with the presentation of the 20th BMW Art Car designed by Julie Mehretu. For the start of a festive first night BMW kicked things off with two stunning world premieres: the BMW Concept Skytop, influenced by its historic ancestors the BMW Z8 and BMW 503, and the BMW R 20 concept, a daring homage of the Big Boxer Roadster by BMW Motorrad. Rolls-Royce not only celebrated the 120th anniversary of the brand with a historic class at the Concorso d'Eleganza Villa d'Este, but also presented the Rolls-Royce Cullinan Series II, a bold evolution of the world´s pre-eminent super-luxury SUV.

BMW Group Classic captivated a diverse public audience on both Public Days. At Wheels & Weisswürscht – Amici & Automobili held on the Saturday, a large number of BMW automobile clubs and clubs from other marques in North and Central Europe celebrated the automobile diversity of different brands from the 1930s to the present day. They joined together to salute over 150 models from this period.

The Concorso d´Eleganza Villa d´Este Public Day – il Festivale and its numerous highlights attracted an audience of nearly 12,000 visitors and was already sold out in the early afternoon. The exhibition in the Rotunda set in the park of Villa Erba featured the 20th BMW Art Car styled by Julie Mehretu, alongside additional iconic BMW Art Cars with Le Mans racing history.

The sporty, elegant BMW Z8 was a real crowd-pleaser on the shores of Lake Como to mark its 25th anniversary. At the BMW Group Innovation Isle, the company provided information about new drive systems and technological innovations in its current model portfolio. A special tribute was dedicated to the great Marcello Gandini – master of modern Italian automobile design – who passed away recently. Young visitors and game fans were able to have fun on the Carrera Track and Sim Racing simulator, pitting their skills against pro Bruno Spengler. The Public Day also enabled the spectators to celebrate their common fascination for automobility as they watched the spectacular parade of all the Historic Cars competing in the award classes of the Concorso d´Eleganza Villa d´Este 2024. This cavalcade presented an impressive show spanning the arc from past to future.

After the conclusion of the Parade held on Sunday, Helmut Käs (Head of BMW Group Classic and President of the Concorso d'Eleganza Villa d’Este), Carlotta Fontana (Board Member of Villa d´Este) and Massimiliano di Silvestre (President of BMW Italy) presented the income from ticket sales on the Saturday and an additional amount from BMW Group Classic as a donation totalling € 50,000 to Matteo Monti (Mayor of Cernobbio) for the local authority’s children’s nursery in Cernobbio.

“The Concorso d´Eleganza Villa d´Este 2024 enables us to highlight the fascination of mobility in all its facets and connect the iconic automobile past with the present and the future. We see this not simply as creating an exclusive event but most importantly also as forging an event on the Public Days for all aficionados of Historic Cars,” explained Helmut Käs (Head of BMW Group Classic and President of the Concorso d´Eleganza Villa d´Este).

“Villa d'Este is proud to honour the timeless elegance, class, and passion for automobiles that have characterised the Concorso d’Eleganza since 1929. The success of the event lies in the unique cars showcased but also in the emotion and passion shared by generations of motor enthusiasts. We are thankful to BMW Group for the long-lasting partnership and the great collaboration with Villa d’Este,” commented Davide Bertilaccio (CEO Villa d´Este Hotels).

We are already looking forward to welcoming you once again at our rendezvous in May 2025 on the shores of Lake Como. Until the time comes round again and we can announce the first details of the next edition, we invite you to indulge in a review of all the highlights of the Concorso d´Eleganza Villa d´Este 2024 at
www.concorsodeleganzavilladeste.com. Naturally, you can also enjoy the multifarious memories on our Instagram and Facebook channels.

Please find the full list of all winners in the attached document.

Munich/Cannes. Glittering movie premieres, stars gracing the red carpet and a high-performance vehicle that looks like nothing else: this is the Cannes Film Festival and yesterday it hosted the world premiere of the BMW XM Mystique Allure. This one-off creation is based on the first high-performance sports car from BMW M GmbH powered by the M HYBRID drive system. Blending progressive luxury with extravagant looks, it is inspired by British supermodel Naomi Campbell, was designed using exclusive materials from the world of haute couture and has a unique soundtrack devised in cooperation with film score composer Hans Zimmer.

The BMW XM Mystique Allure is the latest product of the collaboration between BMW and Naomi Campbell. The partnership took its first steps last year with the “Dare to be You” launch campaign for the BMW XM, which puts the confidence to be yourself and go your own way at centre stage.

The BMW XM Mystique Allure and Naomi Campbell: making a grand entrance at Cannes.

The 77th Cannes Film Festival was the ideal choice of setting for the world premiere of the BMW XM Mystique Allure. Against the stunning backdrop of the French portside resort, Naomi Campbell presented the one-of-a-kind creation inspired by her to an audience of selected guests, before making her way in the car to the red carpet outside the Palais des Festivals et des Congrès. “Witnessing BMW's vision for the BMW XM Mystique Allure come to life has been truly incredible,” says Naomi. “I feel deeply honoured to have sparked the inspiration for their first-ever high-fashion show car, which stands as a unique masterpiece in every aspect.”

This is the third year in succession that BMW has stepped up as Official Automotive Partner of the Cannes Film Festival. And it will lay on an exclusive shuttle service of more than 200 vehicles – among them the all-electric BMW i7, BMW iX and BMW i5, and the plug-in-hybrid BMW XM – to give participants and guests at the event the experience of locally emission-free premium mobility.

First BMW designed with high-fashion materials.

The BMW XM Mystique Allure is the first vehicle in the brand’s history to be designed using materials from the high fashion industry. This unusual tie-up showcases the BMW XM in a whole new light: expressive, avant-garde – and stylish and luxurious in equal measure.

Inspired by Naomi’s favourite colour, the vehicle’s exterior boasts a deeply saturated ultramarine shade, accentuated by a lustrous matte finish. A contemporary translation of high-fashion materials from luxury textile manufacturers, the design seamlessly brings the inside to the outside, featuring rich velvet and shimmering Frozen metallic sequins casting hues ranging from intense violet to deep ultramarine.

The iridescent surfaces were created with precise handcraftsmanship and a fine eye for detail. They take their cues from the eye-catching geometric forms of the BMW XM and bring a special visual richness to the car’s extrovert aesthetic. The design of the BMW XM Mystique Allure provides a meeting point for high performance and haute couture, and paints a unique picture of progressive luxury that continues into the interior. All of the surfaces inside the car, including the M Lounge in the rear, are covered in purple velvet.

BMW IconicSounds Electric: exclusive driving sound from the collaboration with Hans Zimmer.

The bold appearance of the BMW XM Mystique Allure is complemented by an acoustic character also very much its own. At its heart is a bespoke adaptation of the BMW IconicSounds Electric developed as part of the collaboration between BMW Group Sound Design and film score composer Hans Zimmer.

The driving track created for the Naomi Campbell-inspired one-off projects the supreme confidence of the car’s exterior design onto the soundscape of locally emission-free driving. In the M HYBRID drive system’s all-electric operating mode, every movement of the accelerator is accompanied by an emotionally engaging sound that authentically represents the car’s outstanding performance and magnetic visual allure.

The BMW XM: the most powerful series-produced model from BMW M GmbH.

The BMW XM is the first model since the legendary BMW M1 to be conceived solely as a standalone high-performance car from BMW M GmbH. It blends dynamic potency with innovative luxury and an enticingly extravagant design composed of muscular proportions and powerful contours. Two-piece split headlight units, Iconic Glow contour lighting for the BMW kidney grille, accent bands along the sides of the car, light-alloy wheels up to 23 inches in size and the vertically stacked and hexagonally formed pairs of exhaust tailpipes integrated into the rear apron ensure the exterior of the XM has an inimitable visual presence.

The BMW XM is also breaking new ground with its M HYBRID system, which has made the XM the first high-performance car from BMW M GmbH to feature an electrified drive system. In BMW XM Label Red form (electric power and petrol consumption – weighted, combined: 33.5 kWh/100 km and 2.0 l/100 km [141.2 mpg imp]; CO₂ emissions – weighted, combined: 45 g/km (WLTP); fuel consumption with discharged battery: 12.9 l/100 km [21.9 mpg imp] as per WLTP; CO₂ classes: with discharged battery G; weighted, combined B), the plug-in hybrid model – with its maximum output of 550 kW/748 hp – is also the most powerful series-produced, road-legal car yet produced by BMW M GmbH.

Official fuel consumption, CO₂ emissions, electric power consumption and electric range figures were determined based on the prescribed measurement procedure in accordance with European Regulation (EC) 2007/715 in the version applicable. Where a range is shown, the WLTP figures take into account the impact of any optional extras.

Only official figures based on the WLTP procedure are available for new models that have been type tested since 01.01.2021. In addition, according to EU Regulation 2022/195, the NEDC values will no longer be included in the EC certificates of conformity as of 01.01.2023. Further information on the WLTP and NEDC measurement procedures can also be found at www.bmw.de/wltp.

Further information on official fuel consumption figures and specific CO₂ emission values of new passenger cars is included in the following guideline: 'Leitfaden über den Kraftstoffverbrauch, die CO2-Emissionen and den Stromverbrauch neuer Personenkraftwagen' (Guide to the fuel economy, CO₂ emissions and electric power consumption of new passenger cars), which can be obtained free of charge from all dealerships, from Deutsche Automobil Treuhand GmbH (DAT), Hellmuth-Hirth-Str. 1. 73760 Ostfildern-Scharnhausen and at https://www.dat.de/co2.

In the event of enquiries please contact:

Corporate Communications

Cypselus von Frankenberg, Product Communication BMW Automobiles

Telephone: +49-89-382-30641

E-mail: Cypselus.von-Frankenberg@bmw.de

Alexandra Landers, Head of Product and Brand Communication BMW

Telephone: +49-89-382-30871

E-mail: Alexandra.Landers@bmw.de

Internet: https://newsroom.bmwgroup.com/global/en

E-mail: presse@bmw.de

The BMW Group

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

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

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

www.bmwgroup.com

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

X: http://twitter.com/BMWGroup

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

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

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

- 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,

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.

- 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.

San Luis Potosí . De BMW Group Fabriek San Luis Potosí maakt zich op voor de productie van de Neue Klasse vanaf 2027. De bouw van de productielijn voor hoogvoltage-accu’s is inmiddels van start gegaan. Voor de productie van de Neue Klasse is een uitbreiding nodig van de reguliere assemblagelijn en van de body shop, waar de carrosserie wordt geconstrueerd. Verder volgen aanpassingen aan het logistieke deel van de fabriek. In totaal wordt 800 miljoen euro geïnvesteerd in de uitbreiding van de Mexicaanse fabriek.

Eind 2025 start de productie van de Neue Klasse in Europa. Als eerste zal dan een elektrische Sports Activity Vehicle (SAV) van de band rollen in de BMW Group fabriek in Debrecen, Hongarije. De Sedan komt daar in 2026 bij waarvan de productie in München plaatsvindt. Het jaar daarop is de extra productiecapaciteit in Mexico beschikbaar voor in eerste instantie de SAV modellen. De meer dan 80.000 vierkante meter grootte productielijn voor de hoogvoltage-accu’s die nu in aanbouw is, speelt een grote rol voor de lokale productie van de Neue Klasse.

“De accuproductie in San Luis Potosí is onderdeel van ons wereldwijde productienetwerk. Alleen al voor onze nieuwe, zesde generatie elektrische aandrijving bouwen we vijf productielocaties op drie continenten”, vertelt Milan Nedeljković, lid van de Raad van Bestuur van BMW AG en verantwoordelijk voor productie. BMW Group zet zich wereldwijd in voor het ‘lokaal voor lokaal’ principe. “Het plaatsen van de accufabrieken dicht bij de autoproductie maakt het productieproces veerkrachtiger.”

Nauwe connectie tussen accu- en autoproductie.
In lijn met het ‘lokaal voor lokaal’ principe plaatst BMW Group de productielocaties van de hoogvoltage-accu’s wereldwijd zo dicht mogelijk bij de autofabrieken. Naast straks in San Luis Potosí wordt de zesde generatie hoogvoltage-accu’s ook geproduceerd in Debrecen (Hongarije), Shenyang (China), Woodruff vlakbij Spartanburg (VS) en Irlbach-Straßkirchen (Neder-Beieren). Deze aanpak stelt de productie veilig, zelfs in het geval van onvoorziene politieke of economische ontwikkelingen. Ook bevordert dit de lokale werkgelegenheid. De korte afstanden tussen de productielocaties van de accu’s en de modellen van de Neue Klasse zorgen bovendien voor een lagere CO₂-uitstoot.

Voor de Neue Klasse gebruikt BMW Group voor het eerst de nieuw ontwikkelde, ronde accucellen. Die bieden een 20 procent grotere energiedichtheid en laten het opladen tot 30 procent sneller verlopen. De actieradius neemt eveneens met 30 procent toe.

Verdere ontwikkeling van de fabriek in San Luis Potosí
Naast het integreren van de accuproductie vinden nog meer veranderingen plaats in de fabriek in San Luis Potosí. De body shop wordt met bijna 20.000 vierkante meter uitgebreid en is dan in totaal meer dan 90.000 vierkante meter groot. Ook worden de assemblage- en logistieke afdelingen uitgebreid met elk bijna 10.000 vierkante meter.

“Met deze verdere ontwikkeling van onze fabriek maken we ons in Mexico klaar voor de introductie van de nieuwe generatie BMW modellen. Als eerste premium autofabrikant die in Mexico elektrische auto’s en hoogvoltage-accu’s bouwt, lopen wij voorop in de industrie. Tegelijkertijd verkleinen we onze CO₂-voetafdruk”, zegt Harald Gottsche, directeur en CEO van BMW Group fabriek San Luis Potosí.

Zonne-energie verdubbeld
Voor een efficiënte energievoorziening maakt BMW Group wereldwijd gebruik van specifieke, op de fabrieken afgestemdeoplossingen. “In Mexico willen we het gebruik van zonne-energie uitbreiden door een verdubbeling van het aantal zonnepanelen”, zegt Nicole Haft-Zboril, Hoofd Vastgoedbeheer bij BMW Group. “Het plan is om meer dan 20 procent van de energie die we nu nodig hebben direct op het fabrieksterrein op te wekken.” Ook is de fabriek voor het behandelen van afvalwater uitgebreid, met een investering van 3,3 miljoen euro, waardoor aanzienlijk meer afvalwater hergebruikt kan worden.

Uitgebreid trainingsprogramma
Ook zet BMW Group fabriek San Luis Potosí zich extra in voor de ontwikkeling van de werknemers. Alle werknemers zijn hoogopgeleid en goed voorbereid op de eventuele uitdagingen die komen in de toekomst. De trainingen gaan over zaken als de veiligheid bij de productie van hoogvoltagesystemen en het gebruik van robotica bij productieprocessen.

De BMW Group fabriek in San Luis Potosí werd in 2019 in gebruik genomen. Momenteel werken er ongeveer 3.700 werknemers aan de productie van de BMW 3 Serie Sedan, de BMW 2 Serie Coupé en de BMW M2 modellen voor de wereldwijde markt.

Rijswijk. De komende zes weken is Rotterdam de thuishaven van het grootste internationale MINI event ooit. Ruim 5.000 bezoekers uit 36 landen zullen naar de havenstad komen voor de introductie van de nieuwste MINI modellen. Ruim 600 gekleurde MINI’s zullen de stad opfleuren met hun aanwezigheid.

MINI introduceert dit jaar verschillende nieuwe modellen. Tijdens IMDE zullen deze gepresenteerd worden aan alle internationale MINI dealers. Vanuit de hele wereld komen de dealers en MINI Partners de stad bezoeken en al rijdend zullen ze kennismaken met de nieuwe (elektrische) MINI Cooper en de (elektrische) MINI Countryman.

De Schiecentrale in het Lloydkwartier en een speciaal gecreëerde ‘MINI Container City’ bij Greenport B.V in de Rotterdamse haven (Pernis) vormen het hart van dit grootse event. MINI koos voor Rotterdam vanwege de match met het merk, de Rotterdamse  Can Do’ mentaliteit en het duurzame innovatieve karakter van de stad. BMW Group heeft al sinds 2018 een unieke samenwerking met Rotterdam waarin ze middels pilotprojecten onderzoeken hoe de leefbaarheid in de stad kan worden vergroot.

De komende zes weken zullen de inwoners van Rotterdam niet alleen opvallend veel MINI modellen kunnen spotten; ook een Rotterdamse Waterbus is voor die periode helemaal in MINI stijl gewrapt.

Het International MINI Dealer Event start dinsdag 16 april en loopt tot en met 29 mei 2024.

Munich/Indio. Bursting with colour, fizzing with energy and overflowing with confidence: the exhilarating atmosphere of the Coachella Valley Music & Arts Festival in California and the spectacular landscape and architecture of the Coachella Valley provide the ideal setting in which to showcase the unique design of the BMW XM to stunning effect. With its dynamic lines, expansive surfaces, muscular proportions and sharp edges, the first electrified high-performance model from BMW M GmbH exudes presence and confidence. And the visually impactful design of the Sports Activity Vehicle gains even greater intensity with the addition of exclusive BMW Individual special paint finishes.

Colour shades including BMW Individual Urban Green, BMW Individual Petrol Mica metallic, BMW Individual Anglesey Green metallic and BMW Individual Sepia metallic give the extravagance of the BMW XM a very personal note. This visually imposing spectrum of colours – all beguiling shimmer effects and arresting deep gloss – provide a dynamic counterpoint to the spectacular desert landscape and modern take on mid-century architecture that give the Coachella Valley its inimitable aura.

Collaboration with co-creators produces emotionally engaging images with a unique aesthetic.

An international and diverse team of artists, creatives and sportspeople like Icelandic actor and former professional footballer Rúrik Gíslason, German rapper Badmómzjay and TikTok luminary Lena Mantler feed off the unique vibe and the easy glamour of the Valley to inspire each other, build multimedia content for their social media channels and frame the BMW XM in a new light. The line-up of international stars is joined by a broader circle of key opinion leaders from the worlds of music, art and sport – the likes of Jon Batiste, Yusra Mardini, Nemanja Gasic, Chase Hudson, ARTLANTA, Chris Brickley and Gashi.

2024 sees BMW and Coachella partnering up for the sixth time. Through its cultural engagement, the Bavarian premium carmaker seeks to engage with up-and-coming creatives at the cutting edge and influential key opinion leaders from various spheres, while also offering a platform for co-creators to express themselves with full authenticity. Photo and video sessions are both on the agenda at Coachella, with locations in the festival’s immediate surroundings and beyond sure to inspire some amazing work.

Located to the east of Los Angeles, the Coachella Valley is known for its scenically captivating contrast of rugged desert landscape and green oases dotted with date palms. As well as its numerous dapper cafés and bars, the character of the Valley is shaped most prominently by modern villas in an expansive bungalow style. The iconic architecture here and the proximity to unspoilt nature provide a canvas for photos and video with an incomparable aesthetic and create the perfect backdrop for a progressive vehicle like the BMW XM.

BMW XM: Poster boy for the successful combination of luxurious high performance and electrification.

With its confident use of form, extremely comfortable interior and advanced plug-in hybrid drive system, the BMW XM represents the optimal combination of luxury, high performance and electrification. Depending on the model variant, its M HYBRID system uses a powerful six-cylinder in-line engine or a punchy petrol V8. Add the adaptive M suspension Professional and M xDrive intelligent all-wheel-drive system with M Sport differential (both standard) to the mix and the BMW XM serves up potent dynamics and eye-catching figures for the 0 to 100 km/h (62 mph) sprint.

With its bold exterior design, the BMW XM also makes a big statement for individual lifestyle, the high-quality BMW Individual special paint finishes increasing the scope for personalisation further still. All BMW Individual special paint finishes are applied in a separate manufacturing process – with a higher proportion of the work carried out by hand – and benefit from an ultra-precise surface treatment. This meticulous finish ensures an impressive depth of colour and exceptional lustre.

In the event of enquiries please contact:

Corporate Communications

Cypselus von Frankenberg, Product Communication BMW Automobiles

Telephone: +49-89-382-30641

E-mail: Cypselus.von-Frankenberg@bmw.de

Alexandra Landers, Head of Product and Brand Communication BMW

Telephone: +49-89-382-30871

E-mail: Alexandra.Landers@bmw.de

Internet: https://newsroom.bmwgroup.com/global/en

E-mail: presse@bmw.de

The BMW Group

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

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

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

www.bmwgroup.com

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Milan. “FUTURE OF JOY” is the name of the exhibition that BMW Group Design is presenting at the Salone del Mobile 2024 in Milan. The focus is on the Neue Klasse and what it means for the design of the BMW brand.

“The Neue Klasse represents the next generation of BMW vehicles with its core characteristics ‘electric, digital, circular’”, says Adrian van Hooydonk, Head of BMW Group Design. “It is a game changer for the entire company. This change is particularly evident in the design. Whether through the fusion of analogue and digital, new bio-based materials or the monolithic design language reduced to the essentials.”

“FUTURE OF JOY” by BMW Design presents working environments in which BMW designers are developing these pioneering solutions for the electric, digital and circular mobility of tomorrow. Visitors will gain insights into the new design strategy and the development process of the two Vision vehicles and will be able to see, hear, feel, taste and smell the Neue Klasse.

The dawn of a new design era.

The aspiration to create technologically excellent products and, at the same time, emotional experiences that put people at the centre is consistently reflected in the exhibition. The entrance portal, which welcomes visitors with a friendly floral design, already forms the gateway to a new world. From the street, the portico already provides a glimpse of the BMW Vision Neue Klasse. With a subtle sound and fragrance experience, the portal immediately gives visitors the feeling of an optimistic and inspiring future. This is made tangible by the BMW Vision Neue Klasse, which presents itself to the public in the new design language of BMW – clear, elegant and timeless – in the centre of the courtyard. The atrium sees itself as a place of encounter, inspiration and reflection.

With the transition into the interior of the exhibition “FUTURE OF JOY” by BMW Design, the visitor enters a warmer world of colours with yellow and orange tones. On a journey through the different design disciplines, interior and exterior, colour and trim design, as well as user interface and sound design, they discover how formerly separate categories merge into one another and together create a holistic user experience. A light show plays with the colour concepts of the two vision vehicles: yellow for the BMW Vision Neue Klasse and orange for the BMW Vision Neue Klasse X. The matt silver ceiling of the room creates a feeling of endless space as a result of reflection and stands for harmony between people and technology. Sustainable colour and material samples, artwork from the work and design process and multimedia presentations of the BMW Vision Neue Klasse and BMW Vision Neue Klasse X enable the audience to immerse itself in the feeling of positive lightness of the Neue Klasse.

“FUTURE OF JOY” by BMW Design is opening as part of the Salone del Mobile from 16 to 21 April 2024 and can be visited between 10 a.m. and 7 p.m. at the House of BMW in Via Monte Napoleone 12 in Milan.

Salone del Mobile – a place for creative exchange.

For the BMW Group design team, the Milan Design Week is one of the essential sources of inspiration and platforms for exchanging ideas with other designers and creative minds from the fields of fashion, art and architecture. Holger Hampf, Head of BMW Group Designworks, together with Alice Rawsthorn, design critic and co-founder of Design Emergency, discussed the topic “Design as Accelerator for Change” at the opening of the Salone del Mobile in the House of BMW. A recording of the talk on the role of design and how it accelerates positive change can be seen at
www.designboom.com

München/Cernobbio.  Op 24 en 26 mei 2024 organiseert BMW Group Classic het legendarische Concorso d'Eleganza Villa d'Este in samenwerking met het luxe hotel Villa d'Este.

Het Concorso d'Eleganza Villa d'Este van dit jaar omvat de volgende wedstrijdklassen, waarin ongeveer 50 van de meest spectaculaire voertuigen van hun tijd aan de jury van hoog kaliber worden voorgesteld:

CLASS A - THE DAWN OF THE PERFORMANCE AGE
CLASS B - SHAPED BY THE WIND: THE EVOLUTION OF AERODYNAMIC
CLASS C - “THE BEST CAR IN THE WORLD” FOR 120 YEARS: ROLLS-ROYCE CELEBRATES AN HISTORIC BIRTHDAY
CLASS D - “FASTER!” THE ARMS RACE ON THE ROAD
CLASS E - THE BEST OF ITALIAN GRACE AND PACE: MASERATI AT 110
CLASS F - GENTLEMAN DRIVERS: STYLE FOR THE FORTUNATE FEW
CLASS G - TIME CAPSULES: CARS THAT THE OUTSIDE WORLD FORGOT
CLASS H - THE NEED FOR SPEED: SUPERCAR STARS OF THE VIDEO GENERATION

Er worden ook prijzen uitgereikt in een speciale categorie voor spectaculaire conceptauto's van verschillende fabrikanten.

De Concorso d'Eleganza-parade op het terras van de Villa d'Este vindt plaats in gebruikelijke stijl op de zaterdag van het evenement. De ‘Best of Show’ wordt bekroond door de jury, waarbij het desbetreffende voertuig wordt gepresenteerd met de Trofeo BMW Group op zondagavond. Naast de hoofdprijs strijden de deelnemers en de deelnemende voertuigen van het Concorso elk om de overwinning in hun individuele categorieën, om de Coppa d'Oro-prijs die via een openbaar referendum wordt uitgereikt en om een reeks andere onderscheidingen, zoals de Trofeo de Presidente die wordt uitgereikt door Helmut Käs, hoofd van BMW Group Classic en voorzitter van het Concorso d'Eleganza Villa d'Este.

Over awards gesproken: stertenor en ambassadeur van het merk BMW Group Classic, Jonas Kaufmann, zal opnieuw de Trofeo Il Canto de Motore uitreiken voor het beste motorgeluid, zoals gekozen door de jury.

De gasten en mediavertegenwoordigers kunnen zich ook verheugen op twee nogal bijzondere wereldpremières: een sportief exemplaar met een maritieme twist en rock 'n' roll op twee wielen.

Kunst op vier wielen staat ook op de agenda, want de Amerikaanse abstracte kunstenaar Julie Mehretu en de 20^e BMW Art Car maken een omweg naar het Comomeer. Enkele weken later zal de 20^e BMW Art Car deelnemen aan de 24 uur van Le Mans. Franciscus van Meel, CEO van BMW M GmbH, zal zich bij de kunstenaar voegen om haar creatie te presenteren. BMW M wordt traditioneel vertegenwoordigd door een scala aan nieuwe producten op de Concorso-locaties.

Op 4 mei 2024 viert Rolls-Royce Motor Cars de 120e verjaardag van de eerste ontmoeting tussen Henry Royce en The Hon Charles Stewart Rolls. Twee mannen met sterk verschillende achtergronden en vaardigheden — de ingenieur en de verkoper — hebben zich verenigd in hun missie om 'de beste auto ter wereld' te creëren. Ze gaven hun naam aan een dynastie van auto's die superluxe autorijden over de hele wereld definieerde en nog steeds definieert. Ze overstegen de grenzen van de autowereld en maakten van Rolls-Royce het wereldwijde voorbeeld van uitmuntendheid op alle gebieden. Vrijwel elk product, elke dienst, elk apparaat en elke technologie die sinds 1904 is uitgevonden, heeft ernaar gestreefd 'de Rolls-Royce van... 'zijn branche of sector te zijn. De norm die ze 120 jaar geleden hebben gesteld, zorgt nog steeds overal voor innovatie en verbetering, ook in het bedrijf dat ze hebben opgericht.

BMW Group Classic viert de 25e verjaardag van de BMW Z8 — en de legendarische roadster zal op verschillende manieren op het Concorso te zien zijn.

Het Concorso d'Eleganza Villa d'Este Public Day — Il festival was een groot succes in 2023, verwelkomde zo'n 10.000 gasten en verzekerde zich dit jaar opnieuw van een plaats op het programma. Op zondag 26 mei kunnen bezoekers genieten van de unieke gelegenheid om de volledige parade van voertuigen mee te maken van het Concorso d'Eleganza Villa d'Este in de prachtige tuinen van Villa Erba. De festivaldag biedt ook een indrukwekkende mix van cultuur, muziek en autoattracties voor het hele gezin: van de merkoverschrijdende speciale tentoonstelling “Motorsport Icons” — inclusief de presentatie van alle BMW Art Cars die tot nu toe hebben deelgenomen aan de 24 uur van Le Mans — tot een groot aantal hedendaagse autohoogtepunten en technische innovaties van BMW Group. In een artist talk met Senior Vice President BMW Group Design Adrian van Hooydonk zal Julie Mehretu inzicht geven in de samenwerking voor de 20e BMW Art Car. De merkambassadeurs van BMW Group Classic, ZKH Prins Leopold van Beieren (GER) en Bruno Spengler (CAN), zullen beschikbaar zijn om selfies te maken met fans en handtekeningen te signeren.

Op zaterdag 25 mei vindt het evenement Amici & Automobili — Wheels & Weisswürscht voor de derde keer plaats op het terrein van Villa Erba. Sinds 2022 komen er elk jaar ongeveer 150 fascinerende voertuigen uit het hele merkspectrum samen voor dit gemeenschapsevenement. In 2023 genoten in totaal 6.000 bezoekers van het ontspannen samenzijn met een traditionele Weisswurst-worst uit München.

Voordat het Concorso d'Eleganza Villa d'Este zelf van start gaat, zal de nu traditionele Prelude Tour opnieuw centraal staan. Laat in de middag op 23 mei arriveren de historische auto's in de haven van Cernobbio, waar ze aan het publiek worden gepresenteerd.

"Het Concorso d'Eleganza Villa d'Este zal dit jaar weer een werkelijk spectaculair aanbod van evenementen bieden," zegt Helmut Käs, Hoofd van BMW Group Classic. "We zullen de magie en aantrekkingskracht van mobiliteit in al haar verscheidenheid laten zien - en daarbij het iconische verleden van de autowereld verbinden met het heden en de toekomst. Het is belangrijk voor ons dat er voor iedereen iets te beleven is."

"Het Concorso d'Eleganza Villa d'Este is een vooraanstaand en hooggeacht evenement, waar we als gastheren veel waardering voor hebben", zegt Davide Bertilaccio, CEO van de Villa d'Este Group. Het belichaamt een harmonieuze mix van erfgoed, respect en blijvende elegantie, kwaliteiten waar we al lang om gewaardeerd worden. Dit evenement belooft een buitengewoon eerbetoon te zijn aan het vakmanschap van vroeger, en vindt zijn perfecte setting binnen de historische gronden van Villa d'Este. We zijn trots op onze voortdurende samenwerking met BMW Group Classic en op het promoten van deze nieuwste uitmuntende editie."

De winnaar van de Trofeo BMW Group - Best of Show ontvangt een speciaal uurwerk van A. Lange & Söhne: de unieke CHRONOGRAAF uit 1815 in 18-karaats witgoud met massief roségouden wijzerplaat en handgegraveerd Concorso d'Eleganza Villa d'Este-embleem op de scharnierende cuvette. Door de samenwerking met het Concorso d'Eleganza Villa d'Este, dat begon in 2012, richt de Duitse horlogemaker zich op de historische verbanden tussen motorsport en tijdwaarneming. De samenwerking wordt ook gevormd door een gedeelde toewijding aan traditie, handwerk en mechanische innovatie

De organisatoren willen nogmaals de langdurige partners A. Lange & Söhne, Vranken Pommery en wwwe GmbH bedanken.

De Concorso d'Eleganza Villa d'Este op zaterdag 25 mei is al uitverkocht.

Tickets voor Amici & Automobili — Wheels & Weisswürscht (25 mei, Villa Erba) en de Concorso d'Eleganza Villa d'Este Public Day — Il festival (26 mei, Villa Erba) zijn hier te bestellen:
https://www.ticketone.it/en/artist/concorso-eleganza/

Blijf op de hoogte via de volgende kanalen:
Concorso d'Eleganza Villa d'Este-app voor iOS en Android

De website van Concorso d'Eleganza Villa d'Este: https://www.concorsodeleganzavilladeste.com/
Instagram: https://www.instagram.com/concorsodeleganza_vde/

BMW Group Classic Media Server voor downloads
https://www.bmwgroupclassic-downloads.com/Events

Ladies and Gentlemen,

Good morning!

2023 was another successful year for the BMW Group. We delivered strong results in the current business, while securing our future viability through targeted investments.

Strong demand for our attractive products, better availability of vehicles and an easing of the supply situation led to a positive volume development. After the halfway mark in the year, we accordingly raised our guidance for both deliveries and EBIT margin in the Automotive Segment.

Thanks to our disciplined management of the business, we delivered yet again on all our targets. I’ll now take you through our results. 

SLIDE 3: BMW Group with Strong Performance and Solid Sales increase

For the full year, we delivered 2.55 million vehicles worldwide, which is 6.4% over 2022. We achieved significant growth with our all-electric vehicles. Deliveries reached more than 375,000 units, or approximately 15% of total sales.

At 9.8%, the EBIT margin in the Automotive Segment was well within the increased corridor of 9.0 to 10.5%. Excluding depreciation and amortisation for BBA assets from the purchase price allocation of 1.4 billion euros, the EBIT margin was 10.8%.

The Group EBT margin of 11% exceeded our strategic target of 10%.

We also continued to reduce CO2 emissions in our European fleet. With 102.1 grams per kilometer, we were 26.4 grams – in other words 20.5% - below the target set by the European Union.

SLIDE 4: BMW Group full-year 2023

At Group level, our revenues reached 155.5 billion euros, which is 9% higher than 2022. Adjusted for currency translation effects, revenues increased by 13.1%. The increase was driven by the higher delivery volumes and positive product mix effects.

In 2023, our earnings before tax at Group level amounted to 17.1 billion euros. It is important to note that Group earnings in 2022 of 23.5 billion euros included a one-off profit of 7.7 billion euros. This was due to a technical accounting effect related to BBA full consolidation, namely the revaluation of our existing equity interests. Without this effect, Group earnings in 2023 were 1.3 billion euros or 8% above 2022.

This also translates through to earnings per share, that were at 15.7 euros in 2022, excluding the one-off profit from BBA. In 2023, earnings per share of 17.7 euros were 12.8% above the previous year.

That brings me to the results of the individual segments.

I’ll start with the Automotive Segment.

SLIDE 5: Automotive Retail Units, BEV Units, Auto 

Revenue and Auto EBIT

The BMW Group delivered 2.55 million vehicles to customers worldwide in 2023. This corresponds to solid growth of 6.4% – in line with our increased guidance. Momentum came in particular from models in the upper price segment, such as the BMW 7 Series, X7, and Ix*, as well as from the all-new BMW X1.

Our all-electric vehicles continue to be a key growth driver.

In 2023, BEVs made up almost 15% of our total sales.

We also delivered over 190,000 plug-in hybrid vehicles. In total, electrified vehicles therefore accounted for over 22% of sales during the year. 

Revenues for the Automotive segment totaled 132.3 billion euros. This amounts to a 7% increase year-on-year.

At almost 13 billion euros, the segment’s operating result was over 20% higher than 2022. This resulted in an EBIT margin of 9.8%. This is both at the higher end of our long-term strategic target corridor of 8-10%, and well within the increased target corridor of 9.0-10.5% for the year 2023.

SLIDE 6: Automotive Segment EBIT full-year 2023

Looking at the operating result in detail, the increase in Automotive EBIT benefited from a net effect of volume, model mix and pricing, yielding a tailwind of 2.4 billion euros. This was mainly driven by the higher volume and higher share of top end vehicles, including BMW M models, which compensated for the higher BEV share. As expected, we saw some price normalization in the new car and used car markets through the end of the year.

Compared to 2022, we see that EBIT in 2023 was impacted by 600 million euros from the net balance of currency and raw material positions. This difference is mainly due to currency effects from the development of the Chinese renminbi and US dollar. Given lower raw material prices through the end of the year, we saw a slight tailwind compared to 2022. However, this was overcompensated by headwinds from increased supplier payments.

SLIDE 7: R&D Expenditure in full-year 2023

As planned, research and development expenditure rose significantly to 7.8 billion euros, almost 600 million euros higher than the previous year. The R&D ratio for the year came in at 5.0%. Due to higher revenues, this is the same level as 2022, although overall spending increased year-on-year.

Expenditure for R&D mainly focused on three areas: the electrification and digitalization of the fleet; automated driving functions; and expenditure for new models.

Due to higher expenses, mostly for IT projects, selling & administrative expenses increased by about 400 million euros.

The position “Other cost changes” reflects, amongst others, higher material costs, as mentioned at Q3, as well as lower residual value profits than the previous year. In 2022, a negative one-off impact of 1.8 billion euros was due to effects related to the first-time consolidation of BBA.

SLIDES 8 & 9: Automotive Segment Free Cash Flow full-year 2023

Moving on to the free cashflow results for 2023.

At year-end, free cash flow in the Automotive Segment reached 6.9 billion euros. It should be noted that free cashflow in the previous year included a positive effect of over 5 billion euros in net cash acquired from BBA. Without this effect, our free cash flow in 2023 was almost 900 million euros higher year-on-year, or an increase of 13%.

The change in working capital of 2.7 billion euros mainly reflects the increase in inventories to maintain stock levels in markets worldwide.  This ensured we have sufficient supply, including for new models, to meet the robust global market demand entering the new year.

SLIDE 10: Capital Expenditure full-year 2023

Capital expenditure for the year totaled 8.8 billion euros. Our investments in 2023 primarily focused on the fifth and sixth generation battery cell technology, digitalization of products and processes, and vehicle projects. In addition, we invested in construction of our plants, for example in Debrecen, Hungary, where we will launch the NEUE KLASSE next year.

The capex ratio for the year was 5.7%.

Changes in provisions had a positive impact on free cashflow of 1.5 billion euros.

The position “other items” reflects primarily tax payments.

SLIDE 11: Financial Services Segment full-year 2023

That brings me to our Financial Services segment, a key enabler for our business.

Financial Services is already an integral part of the customer journey, and will become even more important with the rollout of our direct agency sales model.

In 2023, the number of new financing and leasing contracts concluded with retail customers came in at the same level as the previous year with 1.5 million new contracts. This is a very solid result, considering the business environment with elevated interest rates and a highly competitive landscape.

Business developed positively quarter for quarter. While new contracts with end customers were down 20% in Q1 year-on-year, in Q4 contracts were up by 17%.

The share of new BMW Group vehicles either leased or financed

by the Financial Services segment stood at 38.2% in 2023.

Average financing volume per vehicle increased, due to an improved product mix in the automotive business. Overall, new business volume increased by 3.4% to 57.3 billion euros.

Segment earnings before tax amounted to 2.96 billion euros. The decrease reflects primarily two factors: higher refinancing costs due to rising interest rates, as well as the overall declining contract portfolio.

Revenues from the resale of end-of-lease vehicles remained at a high level, but were lower than previous year as used car prices started to normalize. We expect this trend to continue in 2024, leading to a lower result from off-lease vehicles.

At 0.18%, the credit loss ratio remained at low level.

After increasing the target range for the year to between 16 and 19 percent in August, Return on Equity reached 17.2% for the full-year.

SLIDE 12: Motorcycles Segment full-year 2023

That brings me to the Motorcycles segment.

In its 100th anniversary year, the BMW Motorrad brand achieved record deliveries, with over 209,000 units. An impressive accomplishment!

All major sales regions saw growth in 2023, with particular momentum coming from Europe with 4.7% and China with 2.8%.

The EBIT margin for the segment reached 8.1%.

At 259 million euros, the segment’s operating result was at the same level as 2022.

SLIDE 13: Other Entities Segment / Eliminations full-year 2023

Finally, you see the combined result from the Other Entities Segment and intersegment eliminations.

“Other Entities” recorded a loss in earnings before tax of 100 million euros. The decrease compared to 2022 was mainly driven by negative fair value measurement effects on interest rate hedging transactions.

Consolidations increased in earnings before tax to 1.3 billion euros. Lower eliminations associated with the leasing business had a positive effect compared to the previous year.

SLIDE 14: Dividend and Increased Pay-out Ratio

Ladies and Gentlemen,

At the BMW Group, we remain focused on ensuring that our shareholders benefit from the company’s success.

The Board of Management and the Supervisory Board will therefore propose a dividend of 6.00 euros per share of common stock and 6.02 euros per share of preferred stock to the Annual General Meeting. This results in a total dividend payout of approximately 3.8 billion euros. The higher dividend payout and earnings per share in 2022 reflected considerable one-off effects from the consolidation of BBA in our Group profit. Adjusted for the one-off effect, the dividend as well as earnings per share are higher in 2023.

The proposed dividend for 2023 represents a pay-out ratio of 33.7%. This is within our long-term strategic target range of 30-40% and also notably higher than the payout ratio in 2022.

At the end of June 2023, we successfully concluded the first program of our share buyback at 2 billion euros, which was approved at the Annual General Meeting in May 2022. On July 3rd last year, we launched the second program of up to 2 billion euros, with the first tranche concluding on December 31st. In total, 1.2 billion euros in share buyback were completed in 2023. The second tranche, with a volume of 500 million euros, started on January 2nd, and will be carried out by June 28, 2024, at the latest. The second share buyback program will be completed by December 31, 2025 at the latest.