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

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

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

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

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

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

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

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

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

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

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

If you have any questions, please contact:

BMW Group Corporate Communications

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

Telephone: +49 89 382-24118

Email: Max-Morten.Borgmann@bmwgroup.com

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

Telephone: +49 151 601-51137

Email: Dominic.Stoiber@bmw.de

Lennart Wermke, Communications BMW Group Financial Services

Telephone: +49 151 601-98096

Email: Lennart.Wermke@bmwgroup.com

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

Email: presse@bmwgroup.com

The BMW Group

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

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

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

www.bmwgroup.com

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Indústria Automóvel Europeia em Transformação: Desafios e Oportunidades

O setor dos transportes enfrenta hoje uma crescente pressão política e económica. As metas para a descarbonização são cada vez mais ambiciosas, ainda que os custos da energia, veículos e infraestruturas continuem a subir, agravados por tensões geopolíticas que acrescentam incerteza. Nesse contexto, a indústria automóvel europeia debate como encontrar um caminho sustentável e equilibrado para todos, que garanta a competitividade do setor, sem comprometer a sua capacidade de crescimento e inovação. Embora a eletrificação seja muitas vezes vista como a solução dominante, cresce a consciência de que uma transição eficaz exigirá uma abordagem diversificada, integrando diferentes tecnologias e ritmos de adaptação para conciliar metas climáticas com competitividade industrial.

Nesse sentido, e durante o arranque do debate, foi salientado que a descarbonização exige um esforço conjunto, que deve priorizar o desenvolvimento das capacidades industriais europeias, evitando o regime outsourcing das cadeias de fornecimento que enfraqueceria a indústria local. A transição deve ser assim feita de forma ponderada, reconhecendo que não é possível avançar demasiado depressa sem comprometer a resiliência económica. Portugal foi apresentado como um exemplo a seguir, destacando-se como um dos mercados de veículos elétricos com maior crescimento na Europa, resultado do forte investimento em infraestruturas de carregamento público e apoios fiscais significativos - incentivos estes que ainda não se verificam em toda a Europa.

Diversificação tecnológica e transição gradual

Apesar do progresso tecnológico ser considerado adequado, especialmente no que diz respeito à eletrificação, existem desafios significativos em termos de infraestrutura e adaptação dos consumidores, o que reforça a necessidade de uma abordagem regulatória mais flexível e abrangente. A rápida eletrificação enfrenta limitações práticas, como a disponibilidade e acessibilidade das infraestruturas de carregamento e a variedade de necessidades dos consumidores em diferentes regiões.

Apostar exclusivamente na eletrificação até 2035 poderá ser, segundo Thomas Becker  – Senior Vice President Governmental Affairs do BMW Group, demasiado restritivo:

“Não devemos colocar todos os ovos na mesma cesta”. A indústria precisa de manter uma abordagem aberta, que inclua uma diversidade de soluções tecnológicas para responder às diferentes realidades dos países europeus. Essa flexibilidade é essencial para garantir uma transição eficaz, que concilie metas ambientais com a competitividade industrial e a aceitação social.

Na perspectiva de Becker, a regulamentação deve permitir que diferentes tecnologias coexistam e evoluam, adaptando-se às necessidades específicas de cada mercado, promovendo não só a eletrificação, mas também soluções híbridas e outras tecnologias emergentes, garantindo assim uma transição sustentável e inclusiva para o setor automóvel.

A visão do mercado português

Em Portugal, onde a idade média do parque automóvel ronda os 14,5 anos, a modernização e a adoção de soluções híbridas plug-in são essenciais para cumprir as metas de redução de emissões e evitar pesadas multas aos fabricantes automóveis. Para tal, incentivos mais robustos são necessários para acelerar esta transição, garantindo que todas as soluções coexistam e contribuam para os objetivos climáticos. Durante a conversa foi também mencionado o crescente aparecimento de marcas chinesas no mercado, prevendo-se que nos próximos anos a quota de mercado asiática aumente consideravelmente em território europeu - um desafio acrescido a uma indústria que luta para manter a sua competitividade e sustentabilidade:

“O parque automóvel português é envelhecido, com uma média de idade entre os 13 e os 14 anos de idade. Os incentivos atuais ainda não são suficientes para renovar eficazmente este parque, não permitindo a qualquer cidadão ter acesso a veículos elétricos ou eletrificados. Ainda assim, temos assistido a uma crescente penetração das marcas chinesas no mercado europeu. Estas marcas, muitas vezes com preços competitivos e alinhadas com as novas legislações, estão a ganhar quota de mercado a um ritmo acelerado, representando já cerca de 7% do mercado na UE. Para garantir a sustentabilidade e competitividade da indústria nacional e europeia, é fundamental implementar mecanismos que reforcem a posição dos fabricantes locais, promovendo diretamente a renovação do parque automóvel, bem como o investimento na circularidade de materiais e baterias in-situ.” - Hélder Barata Pedro, Secretário-Geral da ACAP

O papel da digitalização e da indústria portuguesa

O debate destacou ainda a importância da digitalização como ferramenta fundamental para aproximar as ambições de sustentabilidade da realidade prática. A monitorização em tempo real da saúde das baterias e a análise do comportamento dos utilizadores permitem otimizar o desempenho e reduzir emissões, um aspecto ainda pouco explorado na regulamentação atual da União Europeia.

“A digitalização é a ponte entre as ambições de sustentabilidade e a implementação no mundo real. Os dados transformam ideologias em integração prática, permitindo monitorizar e otimizar o desempenho dos veículos. É fundamental que a regulamentação acompanhe essa complexidade para que possamos manter os empregos e o valor acrescentado na Europa.” afirmou Christine Marconcin Legl, Chief Operating Officer da Critical TechWorks

Já a indústria portuguesa, que produz cerca de 300 mil carros por ano, tem um papel importante na cadeia europeia de fornecimento automóvel. Contudo, os fornecedores nacionais estão preocupados com o futuro e a necessidade de uma visão global e resiliente que contemple a reutilização e reciclagem de materiais e baterias. A abertura a novos mercados, como a Índia ou o recente acordo Mercosul, são vistos como essenciais para garantir a competitividade da indústria europeia num cenário global.

“Em Portugal, estamos preocupados com o futuro da indústria automóvel, especialmente no que diz respeito à sustentabilidade e à competitividade. É fundamental que as políticas europeias considerem a realidade dos mercados e promovam incentivos que ajudem a renovar o parque automóvel, garantindo que ninguém fique para trás nesta transição.” Gonçalo Lage, Deputado do PSD e Coordenador do grupo da Comissão de Infraestruturas, Mobilidade e Habitação

Impacto social e o futuro da mobilidade

Quanto ao impacto social, foi sublinhado que milhares de postos de trabalho foram eliminados nos últimos anos e que as políticas públicas ainda não têm conseguido compensar estas perdas. A transição deve ser gerida de forma a garantir que trabalhadores e empresas não sejam deixados para trás, promovendo o desenvolvimento tecnológico e económico sem mudanças indesejadas.

No que respeita às tecnologias emergentes, a diversidade de opções no mercado é apontada como o caminho correto. A introdução de veículos a hidrogénio dentro do BMW Group, por exemplo, está prevista para 2028 com o BMW iX5 a liderar esta inovação. Entre o painel de oradores, foi geral o sentimento de que o Hidrogénio é uma forte aposta para o futuro da mobilidade, especialmente na vertente de veículos pesados e de longo curso, por se tratar de uma solução eficiente e de rápido abastecimento. Contudo, o desenvolvimento das infraestruturas inerentes será fundamental para o sucesso destas soluções.

Perspetivas e Sustentabilidade no Setor Automóvel: Um Diálogo Essencial

Ao longo de 1h30, e entre um painel de oradores interessado em abordar as temáticas de uma forma abrangente e com exemplos concretos, a talk tornou-se essencial para compreender os caminhos possíveis para o futuro do setor automóvel na Europa e em Portugal. Esta iniciativa reforçou igualmente o compromisso do BMW Group em participar ativamente na discussão sobre o futuro sustentável da mobilidade, promovendo um diálogo aberto entre indústria, política e sociedade por forma a construir soluções equilibradas e viáveis.

“Portugal é um mercado em rápida evolução, com a combinação certa de condições — indústria e consumidor. Precisamos de mais desta lógica em toda a Europa. Se assim for, estamos confiantes de que o nosso futuro será brilhante. O sucesso não será moldado por escolhas rígidas ou soluções isoladas, mas sim pela capacidade de combinar ambição climática, diversidade tecnológica e resiliência económica de forma equilibrada e realista.” - Thomas Becker, Senior Vice President Governmental Affairs, BMW AG

¹ Organizado pela Fundação AIP, o Portugal Smart Cities Summit é o maior marketplace nacional dedicado ao debate e apresentação de soluções pensadas para inovação urbana, sustentabilidade e tecnologia.

Durante três dias, centenas de empresas, startups, municípios, administração pública, universidades, centros de investigação, redes colaborativas e especialistas convidados reúnem-se na FIL, num ambiente que integra quatro áreas temáticas - Living (qualidade de vida e bem-estar territorial), Move (mobilidade e logística inteligentes), Eco (sustentabilidade e ambiente) e Connect (tecnologia e inteligência urbana e territorial) - e três palcos de conferências.

Para mais informações, por favor contactar:

Corporate Communications

BMW Group Portugal

João Trincheiras, Corporate Communications Director

E-mail: Joao.Trincheiras@bmw.pt

Sobre o BMW Group

Com as suas quatro marcas BMW, MINI, Rolls-Royce e BMW Motorrad, o BMW Group é o líder mundial no fabrico de automóveis e motociclos premium, prestando igualmente serviços financeiros de alta qualidade. A rede de produção do BMW Group inclui mais de 30 unidades de produção em todo o mundo; a empresa tem uma rede global de vendas em mais de 140 países. Em 2025, o BMW Group vendeu mais de 2.46 milhões de veículos de passageiros e mais de 202.500 motociclos em todo o mundo. O lucro antes de impostos no exercício de 2025 foi de 10.2 mil milhões de euros, sobre receitas no valor de 135.4 mil milhões de euros. A 31 de dezembro de 2025, o BMW Group tinha um efetivo de 154.540 colaboradores. O sucesso do BMW Group tem sido, desde sempre, construído numa ótica de longo prazo e assente numa conduta responsável. A Sustentabilidade é um elemento-chave da estratégia corporativa do BMW Group e abrange todos os produtos da cadeia de valores, desde a produção até ao fim de utilização de todos os seus produtos.

www.bmwgroup.com

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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. 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

Munich. The BMW Museum opened its doors to more than 847,000 guests last year – a new record. Highlights included the arrival of the exhibition “Belle Macchine. Italian Automotive Design at BMW” and the “50 Years of BMW Art Cars and the BMW 3 Series” special exhibition, which was replaced by a 50th anniversary celebration for the BMW 6 Series. Since the market launch of its founding father in spring 1976, the 6 Series has grown into a trailblazing design classic. And the original car can still claim the longest production run of any BMW model series – at 13 years. The new exhibition, which explores every aspect of the car fondly known as the “sharknose”, will be open to visitors in the BMW Museum’s Rotunda until the end of January 2027. It is accompanied by a “floating” body-only model of the 6 Series outside the Museum building and by a selection of cars in the Art Car Gallery and the permanent exhibition’s “car tower”.

One of the BMW greats, then as now.
The BMW Museum is recalling 50 years of BMW 6 Series history through a selection of hand-picked exhibits. BMW set new standards in automotive construction with the introduction of the 6 Series in the mid-1970s. “For five decades now, the BMW 6 Series has been a paragon of elegance, sporting potency and long-distance comfort,” says Helmut Käs, Head of BMW Group Classic and BMW Museum. “This iconic design has established itself as one of the most influential in BMW history and is highly valued by fans and collectors around the world.”

From 1976 to 1989, the original BMW 6 Series was produced exclusively in coupé form. The new model borrowed its technical underpinnings from the BMW 5 Series and took its cues stylistically from the sumptuous luxury coupés of the 1960s. Its bodies were initially made by Karmann, then produced at BMW Plant Dingolfing from 1982. The line-up featured five engine variants and a US-specific model. Chief designer Paul Bracq oversaw the creation of a dynamic, timeless shape: the pointy “sharknose”, eye-catching side profile and generously sized windows come together into an unmistakable visual whole. It took a while for a successor to the original 6 Series to emerge. The BMW 8 Series occupied the “large coupé” slot in the range from 1989, and it wasn’t until 2003 that a new generation of the BMW 6 Series – the E63 – arrived. The 6 Series also made a name for itself in motor sport. In 1983, BMW joined the fray in close-to-series Group A touring car racing with the 635CSi – and duly won the European Touring Car Championship in 1984 and 1986 and the German Production Car Championship in 1984.

The BMW 6 Series becomes a movie star.
As they approach the entrance to the Museum, visitors are greeted by an apparently floating BMW 6 Series, inspired by the “Flying Cars” series by French photographer Sylvain Viau. The aesthetic employed here recalls the futuristic visual language of classic science fiction films and previews the special exhibition in the Rotunda, where the role of the BMW 6 Series in movie and TV history is highlighted. Indeed, the BMW 6 Series Coupé carved out a space for itself on screens big and small, featuring in international productions such as Dallas and Back to the Future II, as well as German TV shows including Tatort and Der Bulle von Tölz.

“The BMW 6 Series remains a popular movie car to this day, especially in more avant-garde productions,” explain the curators of the special exhibition, Anna Schleypen and Klaus-Anton Altenbuchner. “It is no ‘off-the-peg’ solution, and neither could it be described as a typical action machine or pure luxury cruiser. Rather, the 6 Series is a car rich in character. The special exhibition pays tribute to its show-business side with a film set lifted straight from the 1970s against the Munich skyline. As such, it quite literally shines the spotlight on the movie star BMW 6 Series’ iconic connection to the silver screen.” The BMW 628CSi (1982) and BMW M635CSi (1985) strike a dynamic pose against this atmospheric film backdrop, while fictional movie posters showcase the car from different angles on the way up through the Rotunda.

The BMW 628CSi is one of the most successful of all 6 Series variants. Its 2.8-litre fuel-injected engine represented a high-tech upgrade on its arrival in 1979, replacing its carburettor predecessor. The 628CSi was in production until 1987, winning over drivers with its masterful blend of grace, sportiness and high comfort. The BMW M635CSi, available from 1984 with the 286 hp engine from the M1 and capable of a top speed in excess of 250 km/h (155 mph), was considered the fastest four-seater in the world at the time. 5,655 examples were built up to 1989, making this rare M model a modern BMW legend.

Two iconic 6 Series: the BMW 635CSi and BMW 633CSi
As well as the cinematic history of the BMW 6 Series, the special exhibition also focuses on the model’s cultural significance. The BMW Museum’s Art Car Gallery is (alternately) presenting two examples of the BMW 635CSi from the BMW Art Car Collection, which has been celebrating its 50-year anniversary since last year with the BMW Art Car World Tour. In 1982, Austrian artist Ernst Fuchs created the fifth BMW Art Car in the collection – the first based on a series-produced model. Fuchs’ Art Car, which he called “Firefox on Harehunt”, is a homage to mythology, speed and spiritual symbolism. Four years later, pop-art luminary Robert Rauschenberg added a sixth car to the collection, transforming the 635CSi into a black-and-white collage of art history, photography and everyday culture.

With the BMW 633CSi, the BMW Museum is showing another key member of the 6 Series family in its “car tower”. Unveiled at the same time as the 630CS, the 633CSi was initially fitted with the then state-of-the-art Bosch L-Jetronic fuel injection system. In September 1979, it then gained DME digital engine electronics, which brought further reductions in pollutant emissions and fuel consumption. However, the engine did experience a slight dip in output – from 200 hp to 197 hp.

An overview of the cars on display.
BMW 6 Series body-only model. / outside the BMW Museum
BMW 628CSi (1982). / BMW Museum, Rotunda
BMW M635CSi (1985). / BMW Museum, Rotunda
BMW 633CSi (1976). / BMW Museum, “car tower”
BMW Art Car #5 by Ernst Fuchs, BMW 635CSi (1982). / BMW Museum, Art Car Gallery (exhibition duration: 17 March – 13 July 2026)
BMW Art Car #6 by Robert Rauschenberg, BMW 635CSi (1986). / BMW Museum, Art Car Gallery (exhibition duration: 7 September – end of 2026)

The exhibition “Belle Macchine. Italian Automotive Design at BMW” will continue to run alongside the 50‑year anniversary celebration for the BMW 6 Series until the end of 2026. All the exhibitions are open to visitors during the BMW Museum’s usual opening times: Tuesday to Sunday, 10.00 a.m.–6.00 p.m. (last entry at 5.30 p.m.). Further information can be found at BMW Museum.

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

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

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

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

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

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

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

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

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

Class H           The Pace Race: The Supercar Comes of Age

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

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

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

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

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

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

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

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

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

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

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

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

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

Stay informed on these channels:

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

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

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

BMW Group Classic Media Server für Downloads:

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

- Check against delivery –

Statement

Walter Mertl

Member of the Board of Management of BMW AG, Finance

Annual Conference 2026

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

Good morning,

Ladies and Gentlemen,

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

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

In the face of these headwinds:

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

SLIDE: OVERVIEW OF PERFORMANCE FY 2025

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

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

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

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

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

SLIDE: GROUP FIGURES

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

SLIDE: SEGMENT PERFORMANCE

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

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

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

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

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

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

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

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

SLIDE: BMW GROUP SALES GLOBALLY AND BY REGION

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

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

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

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

SLIDE: BMW ELECTRIFIED AND BEV SALES GLOBALLY AND BY REGION

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

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

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

SLIDE: AUTOMOTIVE SEGMENT REVENUES

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

SLIDE: AUTOMOTIVE EBIT BRIDGE

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

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

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

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

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

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

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

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

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

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

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

SLIDE: R&D EXPENDITURE

Looking at R&D and Capital Expenditure in detail:

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

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

SLIDE: GROUP CAPITAL EXPENDITURE

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

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

SLIDE: AUTOMOTIVE FCF BRIDGE

Moving to free cash flow:

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

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

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

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

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

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

SLIDE: FINANCIAL SERVICES SEGMENT

Let’s now turn to our Financial Services segment.

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

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

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

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

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

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

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

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

SLIDE: DIVIDEND AND PAYOUT RATIO

Ladies and Gentlemen,

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

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

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

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

SLIDE: OUTLOOK 2026

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

What are our expectations for 2026?

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

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

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

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

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

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

- Check against delivery –

Statement

Oliver Zipse

Chairman of the Board of Management of BMW AG

Annual Conference 2026

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

Part I

Good morning, Ladies and Gentlemen,

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

First:

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

Second:

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

Third:

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

Fourth:

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

And finally:

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

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

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

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

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

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

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

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

This success is built on three important parameters.

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

First: Our balanced global positioning in sales and production.

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

And third: Our consistent strategic focus on technology openness.

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

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

This shows that our business model is robust and resilient.

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

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

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

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

Our worldwide presence is a decisive competitive advantage.

All BMW Group brands contributed to our 2025 result.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

Our electrified vehicles provide the clearest proof of this:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

It underlines that we are “already ahead”.

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

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

Part II

Ladies and Gentlemen,

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

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

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

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

Let’s start with the first item:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

But this is only the start.

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

Thank you very much.

Munich/Cernobbio. From 15 to 17 May 2026, BMW Group Classic is organising the legendary Concorso d'Eleganza Villa d'Este in cooperation with the Grand Hotel Villa d'Este. Around 50 spectacular automobiles will compete for the coveted trophies, above all the Trofeo BMW Group, with which the high-calibre jury will select 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:

VIVA VILLA D’ESTE: EXTRAVAGANT 1950S STYLE

“THE TOP GOES DOWN,THE PRICE GOES UP”: SELLING SUNSHINE

THEY EARNED THEIR NAMES: ENZO’S ENDURANCE LEGENDS

EVERY SCRATCH TELLS A STORY: AGEING GRACEFULLY WITHOUT RESTORATION

FROM CARNABY ST TO THE AUTOSTRADA: THE SWINGING SIXTIES GT

THE PACE RACE: THE SUPERCAR COMES OF AGE

The Sourcing & Selecting Committee of the Concorso d'Eleganza Villa d'Este 2026 is still accepting vehicle applications. On the event's website at https://www.concorsodeleganzavilladeste.com/blocks/take-part-as-an-entrant-registration, you can register online with vehicles for the competition classes that have already been determined.

The exciting meeting of the latest concept cars is a globally unique tradition. Owners and manufacturers of concept cars can also already apply for this event.

In 2026, BMW Group Classic is celebrating several anniversaries on Lake Como. The BMW 328, the BMW sports car icon from the 1930s, will be the centre of attention due to its 90th anniversary. In addition, "40 years of the BMW M3", "50 years of the BMW 6 Series" and "60 years of the BMW 02 Series" will be celebrated mainly on the grounds of Villa Erba.

The "Concorso d'Eleganza Villa d'Este Public Days" in the enchanting garden of Villa Erba will take place again in 2026. On Sunday 17 May, "Public Day - Il Festival" will once again give the general and interested public the opportunity to experience the Concorso d'Eleganza Villa d'Este car parade. Visitors can also look forward to a spectacular programme of events for the whole family.

The event format "Amici & Automobili - Wheels & Weisswürscht", well-known from Munich and now also established on Lake Como, will of course once again be part of the festival weekend. Cars of all makes from clubs and communities from all over Europe will meet for the fifth time in a row in the park of Villa Erba together with many visitors - true to the motto "Casually celebrating cars". If you would like to enter your car, you can send an email including information about the car and photos to Classic@bmwgroup.com, subject line "Wheels&Weisswürscht Lake Como 2026", by 02 March.

The organisers are also delighted that sponsors A. Lange & Söhne, Broad Arrow Auctions and Vranken Pommery will be taking part in the next edition of the Concorso d'Eleganza Villa d'Este.

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

Following last year's successful European premiere, Broad Arrow Auctions, a leading global collector car auction house and the fastest-growing auction house in its segment, the US auction house Broad Arrow Auctions will once again be auctioning offering spectacular automobiles on Saturday 16 May and on Sunday 17 May at Villa Erba. Exciting early highlights already set for the auction include a Classiche certified, “non-cat, non-adjust” 1990 Ferrari F40 (Estimate: €2.300.000 - €2.500.000), an exquisitely preserved 1929 Bugatti Type 43 Roadster with one-off coachwork by Eugène Matthys (Estimate: €2.500.000 - €3.500.000), and a pair of sought-after Honda NSX examples, including a lightweight 2003 NSX-R (Estimate: €700.000 - €800.000) and a rare 1999 NSX Type S factory finished in stunning Monte Carlo Blue Pearl (Estimate: €200.000 - €250.000). Interested consignors are asked invited to contact a Broad Arrow Auctions car specialist via www.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: “Year after year, we continue to develop the Concorso d’Eleganza Villa d’Este with great dedication. We want to offer visitors to the various event areas the highest level of automotive culture and entertainment, combined with the unique flair that can only be found in the surroundings of Villa d’Este and Lake Como.”

Davide Bertilaccio, CEO Villa d'Este Hotels highlights: “Few places in the world can elevate the art of the automobile as naturally and authentically as Villa d’Este and Lake Como. To welcome the Concorso d’Eleganza each year is not only to honour a remarkable tradition, but to celebrate one of the longest-running and most enduring concours in the world — a living expression of craftsmanship, passion and cultural heritage. Together with BMW Group Classic, we are proud to create an atmosphere where excellence belongs, where history continues to inspire the future, and where every guest becomes part of a truly timeless and exceptional experience.”

Further details about all the events extends of the 2026 event will be announced in spring.

As of today, international media representatives can apply for media accreditation for the Concorso d'Eleganza Villa d'Este. Please use our online tool in the media section of the event website https://www.concorsodeleganzavilladeste.com .

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

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

Stay informed on these channels:

Concorso d'Eleganza Villa d'Este app for iOS and Android

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/

A MINI Portugal e o artista Alexandre Farto, mais conhecido como Vhils, revelam uma nova obra no âmbito da sua parceria, que desde 2021 tem levado a arte urbana para o universo automóvel. A mais recente criação resulta numa intervenção única no novo MINI Aceman elétrico, transformando-o numa peça de mobilidade sustentável, interativa e carregada de personalidade.

Uma peça viva da cidade, esculpida em papel e memória

Neste projeto, Vhils interveio sobre o MINI Aceman recorrendo à mesma técnica utilizada nos billboards, que consiste na aplicação de múltiplas camadas de cartazes – reminiscência das paredes urbanas que acumulam camadas de tempo e cultura, para depois serem esculpidas, revelando detalhes icónicos do veículo como o logótipo, rodas ou superfícies envidraçadas.

A obra evoca a forma como as cidades se transformam com o tempo, com cada camada a representar uma época, uma voz ou uma memória coletiva. Ao esculpir essas camadas, o artista revela não só elementos visuais do MINI, mas também um diálogo entre passado e presente, entre o que está à vista e o que permanece por descobrir.

“Este ano, passamos do artesanal, com o Tracery, ao tecnológico, com o Mini Aceman. Com a técnica usada nos billboards, uma das suas primeiras técnicas, Vhils criou layers que, uma vez escavados e cortados, revelaram depois o que está escondido, o que não se vê. Um rosto, um olhar, uma identidade e uma memória.”destaca a directora do VHILSTUDIO, Filomena Raínho.

Uma apresentação pública e interativa

A nova peça foi revelada a 25 de novembro, no VHILSTUDIO, no Barreiro, perante convidados, representantes da marca e imprensa. Durante o evento de apresentação, os presentes tiveram a oportunidade de assistir ao momento final do processo criativo, com o artista a esculpir ao vivo os últimos detalhes da obra.

Mais do que um veículo, esta criação afirma-se como uma instalação artística itinerante, com potencial para integrar exposições, ativações culturais e conteúdos digitais da marca MINI ao longo de 2026.

Uma parceria que celebra a expressão criativa

Desde 2022, a parceria entre a MINI Portugal e o VHILSTUDIO tem dado origem a projetos artísticos que reinterpretam o legado da marca através da lente da arte urbana. Desde intervenções de grande escala, como a homenagem a Sir Alec Issigonis, até à escultura TRACERY num MINI clássico, esta colaboração tem afirmado a MINI como uma marca que vive o espaço urbano com autenticidade e visão.

“É no espaço urbano que o ADN da MINI nasceu, evoluiu e continua a afirmar-se como um símbolo de mobilidade inteligente, compacta e com personalidade. Esta nova colaboração com o Vhils reforça exatamente isso: a capacidade de olhar para a cidade não apenas como um espaço de passagem, mas como um palco de histórias, identidade e expressão. O Vhils é o artista ideal para materializar esta visão, porque tal como a MINI, vê na cidade muito mais do que edifícios e trânsito. Vê camadas, vozes, memória. E transforma tudo isso em arte”, afirma Gonçalo Empis, Head of MINI Portugal.

- Check against delivery –

Ladies and Gentlemen,

Good morning.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

Thank you.

- Check against delivery –

Ladies and Gentlemen,

Good Morning.

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

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

You all know the BMW Group as an ambitious company.

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

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

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

This development results mainly from three areas:

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

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

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

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

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

In addition to EBIT, tariffs also affect free cashflow.

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

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

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

Earnings before tax amounted to 1.4 billion euros.

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

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

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

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

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

This was primarily due to the consumption of warranty provisions.

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

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

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

This is driven by two factors:

Lower-than-expected earnings for the full year

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

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

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

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

Let’s now turn to our Financial Services segment.

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

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

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

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

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

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

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

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

Resale income remains positive on a portfolio basis.

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

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

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

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

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

Thank you.

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/

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

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

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

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

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

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

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

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

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

BMW Lifestyle Collection takes a turn for the digital.
Another focal point at ApeFest was the presentation of the new BMW M Collection, which has been customised by the company’s collaboration partner and carries Bored Ape Bimmer Club (BABC) branding.

The Collection was revealed as part of a live show fronted by animated 3D character “Max”, BMW’s very own digital ape. With a presentation big on charm and innovation, Max acted as a model bridging real-world fashion and digital experience.

QR codes transported visitors directly to the Collection’s product pages. The interplay of physical and digital elements created a new form of brand showcase – open, authentic and technologically on point.

The art installation: design as a shared experience.
BMW also made a statement with a live performance by the artist Pauser (@Pausrr), who turned 24 black BMW suitcases into large-format graffiti art. Each of the suitcases was designed individually and personalised with e.g. initials and personal symbols, making it a one-off collector’s item that was then sold.

The installation embodied the themes of identity, mobility and design. And the standalone individual pieces were arranged into a complex artwork that underscored once again the community-led character of the initiative.

Performance meets digital culture.
BMW was also represented at the event by an exclusive VIP fleet of vehicles including the BMW XM Label and BMW X7. Another star of ApeFest was a strikingly styled BMW M3 from the BMW Performance Center USA (Thermal), which served as a content studio for creators, media and guests. The high-performance model became a hotspot for video, photos and interviews focusing on design, technology and lifestyle. This was a place where product experiences and digital communication overlapped.

The BMW presence in Las Vegas was designed as an open-ended brand platform – with zones for gaming, fashion, art and connecting. The result was a space emphasising interaction and the sharing of ideas over traditional product presentations. Classic cars from the regional BMW community – members from southern California showed off their pride and joy at AREA15 – provided a bridge between the past and the future.

By hooking up with ApeFest once again, BMW has strengthened its presence in a space that mixes technological and cultural trends – and provided another demonstration of how mobility, lifestyle and digital culture can engage and connect with one another.

- Check against delivery –

Statement 

Oliver Zipse, Chairman of the Board of Management of BMW AG

Jochen Goller, Member of the Board of Management of BMW AG, Customer, Brands, Sales

Adrian van Hooydonk, Head of BMW Group Design

Markus Flasch, CEO BMW Motorrad

IAA Mobility 2025 Summit Press Conference

Munich , 8 September 2025

Speech Oliver Zipse, Chairman of the Board of Management of BMW AG

Ladies and gentlemen,

This year’s IAA MOBILITY impressively demonstrates that the desire for individual mobility has never been stronger. Today, more than ever, global success depends on the ability to master new technologies and to anticipate what customers around the world want.

It also takes courage to make bold leaps. A pioneering spirit – to explore new paths. Confidence in your own abilities. And resilience – to stay the course, even in the face of headwinds. And on top it requires a team of nearly 160,000 employees who are passionate about shaping the future of mobility. Then evolution becomes revolution. Vision becomes reality.

You’ll remember that, back in 2021, I promised we would lead BMW into a new era. With the NEUE KLASSE. Today, we deliver on that promise.

Early this decade, we recognized an opportunity; a chance to set new benchmarks across all relevant technologies in the car. It was an opportunity that only comes once in a lifetime. The perfect BMW moment.

The NEUE KLASSE is much more than just a new vehicle. It marks a completely new model generation. A massive leap that redefines the entire brand.

The new BMW iX3 will be followed by more than 40 new or updated BMW models by 2027. Each will have the NEUE KLASSE genes – regardless of the drivetrain. More than any other project, the NEUE KLASSE represents the innovative spirit of all our associates. Across all our brands.

On behalf of the entire company, it is my great honor to unveil:

The new BMW iX3!

Ladies and gentlemen,

I’ve been with the BMW Group for 34 years. I’ve witnessed many world premieres and bold technological innovations. But a vehicle like this is something you experience only once. All of us at the BMW Group have been working tirelessly towards this moment.

With the NEUE KLASSE, we’ve created an unprecedented interplay of multiple, ground-breaking technologies. Now, we are taking Sheer Driving Pleasure to a whole new level. In short: The NEUE KLASSE is more BMW than ever.

And the next highlight is already waiting in the wings. Early next year, we will unveil the second model of the NEUE KLASSE – a sporty sedan at the very core of the brand:

the new all-electric BMW i3.

Ladies and gentlemen,

From the drivetrain to battery technology and driving dynamics, from the operating system to the digital user experience: We’ve elevated every single aspect to the next level for the NEUE KLASSE.

With this new design language, we’ve even skipped a whole generation. And there's no one better to explain how our customers will experience this with all their senses than Adrian van Hooydonk.

Speech Adrian van Hooydonk, Head of BMW Group Design

Welcome ladies and gentlemen!

Yes, the big moment has finally come. As Oliver mentioned, with the Neue Klasse we are taking very big steps in technology. These bigger steps in technology can only become meaningful hand in hand with big steps in design. The BMW iX3 has a much bigger range helped by a very clean shape with excellent aerodynamics.

In the interior you will find a new display concept that allowed us to clean-up the dashboard and completely redefine the driving experience.

But let‘s look at the exterior design first: We have typical solid BMW SAV proportions with a lot of presence and emphasis on all four wheels. The surfaces are very clean with only a few precise lines. The front-end shows a new interpretation of the BMW typical face in which we replace chrome with light. Vertically oriented kidneys match the more upright overall appearance of our SAV. This new light signature is part of the daytime running light and it will make the new BMW iX3 very recognizable by day and by night. Overall, the car has a very solid stance and strong shoulders and, in the rear, again a new light signature that emphasizes the width of the car.

In the interior you will find that the driving experience is and will remain our focus, putting the driver at ease and in control! The key element to this is our all-new BMW Panoramic Vision which projects in the bottom of the windscreen and builds upon our years of experience with head-up displays. This new display is visible for all passengers on board and will allow you to quickly check the information you want and need while keeping your hands on the wheel and your focus on the road ahead. Together with our new free cut central display and iconic steering wheel these elements are the corner stones of our new Panoramic

iDrive system, a whole new driving experience that you will find in all our future BMW models from now on!

This new user experience already starts when you approach the car and continues as you get in and set the car up to your personal preferences. With My Modes you can do that very easily and select a perfectly curated driving experience – from screen content or colors to light and sound and even driving characteristics.

So, our new Operating System X focuses on the best driving experience but will also allow you a much higher level of personalization making your new BMW truly yours! Overall, the new digital aspects of our cars will make them more intelligent and easier to use.

At the same time, this has allowed us to design much cleaner and warmer interiors, creating very personal living environments on four wheels. The interior trim “Digital White” is spacious and modern.

So, starting with the BMW iX3 we are introducing a new form language that will lead to a new look and feel for the entire BMW brand. Our designs will be very clean and at the same time very strong in character, but above all: more BMW than ever!

Thank you very much!

Speech Jochen Goller, Member of the Board of Management of BMW AG, Customer, Brands, Sales

Thank you, Adrian!

Ladies and gentlemen,

Let’s now move on to MINI, which celebrated its very own game-changing moment already last year with the introduction of a completely new product range.

The “New MINI Family”, covering the most desirable and broad product portfolio in the brand's history, now features four very distinct models - Convertible, Cooper, Aceman and Countryman. And regarding the drivetrain, MINI customers of course have the choice between all-electric or highly efficient combustion engines.

Clever use of space, wheels at the corner, go-cart feeling, combined with true Britishness and maximum individuality. That's how MINI became the world's most successful premium small car brand. Driving a MINI has always been a confident personal statement. In this way, MINI has inspired numerous celebrities and designers throughout its 66-years long history.

And today, we are writing the next exciting chapter in this tradition. Partnering with a brand that stands for customization and thinking out of the box like few others. I am talking about Deus Ex Machina!

The outcome of this inspiring and exceptional partnership are two stunning John Cooper Works models – fraternal twins with very different styles, yet united by a shared enthusiasm.

I brought one of them with me today, so, let’s have a look.

Ladies and gentlemen,

“The Skeg.” A distinctive and contemporary re-interpretation of MINI's racing history. Pure. Bold. Innovative. This artwork on four wheels is based on the MINI John Cooper Works Electric. Inspired by the world of surfing, it offers pure electric freedom to enjoy the MINI go-cart feeling on coastal roads.

His twin – “The Machina” – is forged on the racetrack. Lean, fast and powered by a combustion engine, it embodies raw racing technology and authentic functionality.

Together, they stand for individual lifestyle and maximum driving excitement, regardless of the respective drive train.

Similar to what our customers can experience with the New MINI Family, which is winning over new and old customers worldwide.

That is especially true for our fully electric models. Today, already one in three MINIs has an electric heart. And the trend continues to rise.

Ladies and gentlemen,

Collaborations like the one with Deus Ex Machina are just one example for unique customization – the way only MINI can do.

And now, ladies and gentlemen, to something completely different.

Speech Markus Flasch, CEO BMW Motorrad

Ladies and gentlemen,

It is a great pleasure for me to present the BMW Motorrad Vision CE. It offers the most spectacular insight into our vision of future of urban

e-mobility that we have ever developed. For me, the Vision CE is a clear proof to our ambition to shape the future of emission-free mobility with courage and a pioneering spirit.

Highly innovative single-track urban mobility has been strongly anchored in the history of BMW Motorrad for decades. We revolutionized urban mobility already 25 years ago with the unique BMW C1. In 2014, we were the first manufacturer to combine outstanding design with an e-drive in the BMW C evolution. In 2022, we launched the CE 04, a design & technology masterpiece of emission-free mobility which remains the global market leader in its segment to this day.

At BMW Motorrad, the development of single-track e-mobility clearly stands for visionary concepts, innovation leadership and groundbreaking design. With the Vision CE's special self-balancing system, we are looking to the future and setting again new standards: Urban riding fun on two wheels without having to wear a helmet or motorcycle clothing, thanks to the unique structural bracket design.

The Vision CE – one like no other: Exciting and inspiring - just like BMW Motorrad!

Speech Oliver Zipse, Chairman of the Board of Management of BMW AG

Ladies and gentlemen,

At the BMW Group, we are constantly reshaping mobility – just as we have for nearly 110 years. Our customers’ individual needs, wishes – and, yes, their dreams – are always at the heart of all our brands.

All of our customers benefit from our innovative approaches and the latest technologies. At the same time, we are steering the company on a long-term path that is in line with the Paris Agreement.

This is the spirit that drives us at the BMW Group.

Thank you.

Munich. Please find the satellite details of the BMW Group Press Conference as follows: 

8 SEPTEMBER 2025.

08:30 - 08:50 A.M. CEST – BMW Group Press Conference at the IAA Summit. LIVE

Technical data TV satellite transmission:
 

Contact SNG: Tel. +49 (0) 179-5079009 (Torsten Jobmann)

Live Stream available at:

English: https://www.live.bmwgroup.com/en/live-streaming/
German: https://www.live.bmwgroup.com/de/live-streaming/

If you have any questions, please contact:
BMW Group Corporate Communications

Sibylle Böres, BMW Group Press & PR Events
Telephone: +49-151-60120906
E-Mail: Sibylle.Boeres@bmw.de

Wieland Brúch, Press Spokesperson BMW Product Communications
Electromobility and Sustainability
Telephone: +49-176-60172652
E-Mail: Wieland.Bruch@bmw.de

Munich. At the IAA Mobility in Munich from 9 to 14 September, MINI will transform the city into its own stage at two well-known locations: an impressive Open Space at Max-Joseph-Platz, and a central brand appearance in the MINI Pavillion at Lenbachplatz, presenting MINI’s brand DNA at the world's largest mobility event. The highlight is the world premiere of two exclusive JCW showcars, created as part of an exciting collaboration.

MINI Pavillion: MINI unveils exclusive JCW showcars.
MINI's racing background is not only evident from its recent success at the 24-hour race at the Nürburgring: motorsport has been part of the brand's essence from the very beginning. As part of the IAA, two unique MINI John Cooper Works showcars are celebrating their world premiere, the result of an inspiring collaboration.
For the duration of the IAA, the MINI Pavillion puts the models centre stage in a spectacular display. The showcars, which combine the brand's unmistakable racing enthusiasm with the spirit of a world-famous lifestyle brand, can be admired at Lenbachplatz. For this, the MINI Pavillion will be extensively remodeled, and dedicated entirely to the John Cooper Works brand.

• MINI Pavillion: Lenbachplatz 7a, 80333 München

MINI at Open Space: Heritage and humour at Max-Joseph-Platz.
A metropolis within a metropolis: With its appearance at the Open Space, MINI brings the vibrant city centre of London to the noble Max-Joseph-Platz in Munich's old town. An elaborately staged backdrop recreates the heart of the city and presents the brand’s British identity, including its humour in many details.

With the Bayerische Staatsoper and the Residenztheater in the background, the focus of Open Space is the all-electric models of the new MINI family, the high-performance MINI John Cooper Works Electric, MINI Service and MINI Experience Modes. 
With the MINI John Cooper Works Electric, MINI Aceman SE and MINI Countryman SE ALL 4, visitors will be able to experience three all-electric MINI models up close. Max-Joseph-Platz is also the starting point for test drives in cooperation with SIXT: true to the motto "Only MINI Can Do", visitors can take all-electric MINIs from the new MINI family out onto the city's streets from here.

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

MINI at the IAA: Community Day unites fans of the brand.
Fans of MINI can also become part of the IAA Mobility this year: at the "Community Day" on 13 September, MINI clubs will come together for a drive with their personal MINIs. Starting at Gut Kaltenbrunn on Lake Tegernsee, the route leads through Munich and ends with an inspiring get-together with music, BBQ and dialogue with the community in the MINI Pavillion.

The IAA: a platform for experts and enthusiasts.
As one of the largest and most important international automotive trade fairs, the International Motor Show (IAA) offers manufacturers, journalists and other enthusiasts a platform for dialogue on the topics of mobility, innovation and technology every two years. The IAA Mobility 2025 is organised under the slogan "It's All About Mobility". As part of the event, innovations and concepts will be presented in four formats - at the IAA Summit, the IAA Conference, the IAA Open Space and the IAA Experience - as well as at MINI in the MINI Pavillion at Lenbachplatz. Over half a million visitors were counted at the last IAA 2023 in Munich.

In case of queries, please contact:

Corporate Communications

Julian Kisch, Press Spokesperson, Product Communications MINI
Phone: +49-151-601-38072
E-mail: julian.kisch@mini.com

Micaela Sandstede, Head of Communications MINI
Phone: +49-176-601-61611
E-mail: micaela.sandstede@bmw.de

Munich. BMW, MINI and BMW Motorrad will present their new arrivals at two central locations during the IAA Mobility 2025 show, just like at the 2021 and 2023 editions of the event: The IAA Mobility Summit will take place at Munich’s exhibition centre (Messe München) – the BMW Group stand is in Hall A1 – and the BMW Group’s Open Space can be found at Max-Joseph-Platz square, under the gaze of the opera house. The generously proportioned Open Space, which covers an area of 3,000 m², is open to visitors free of charge on Tuesday, 9 September (the official opening day) from 11.00 a.m. to 9.00 p.m. CET, on Wednesday, 10 September – Saturday, 13 September from 11.00 a.m. to 11.00 p.m. CET and on Sunday, 14 September from 10.00 a.m. to 5.00 p.m. CET. BMW Welt and the BMW Museum will also be playing their part in the most important event of the year for the automotive and mobility sector with exhibitions and concepts of their own. The official opening of the IAA Mobility Summit will take place at the exhibition centre on Monday, 8 September at 8.00 a.m. CET. It is aimed primarily at trade visitors and is open every day until Friday, 12 September from 9.00 a.m. to 6.00 p.m. CET.

The premiere of the Neue Klasse.
The BMW Group is presenting one of the most significant new vehicles in its history at IAA Mobility 2025 in Munch, its home city. The BMW iX3, the first Neue Klasse model, will celebrate its public unveiling at the event. Revealed at the same time will be new technologies that will play a revolutionary and trailblazing role across the BMW Group in the future. The new BMW iX3 gives the public their first glimpse of the huge technological leap forward made by BMW in many areas: electric mobility, display and control/operation, digitalisation, connectivity, design, sustainability and technological openness. All upcoming BMW models will benefit from the innovations in the Neue Klasse – regardless of the drive system type used to power them.

Focusing on the new BMW iX3 and its innovations.
As BMW’s star of the IAA 2025, the new BMW iX3 will take centre stage event-wide. As well as the presentation of several examples of the global newcomer, the central stage in the shadow of Munich’s opera house at Max-Joseph-Platz will host daily “Masterclasses” featuring the new model. On each of the six days of the event, there will also be demonstrations of the new BMW Panoramic iDrive developed entirely in-house at BMW. These innovations from the BMW iX3 will likewise find their way into all future BMW models as part of a gradual process.

BMW Charging debuts bidirectional charging.
A dedicated area of the Open Space will focus on BMW Charging, with the help of current BMW electric vehicles like the new BMW iX and the BMW i5. The assembled experts here will provide the low-down on both public charging and the BMW Charging offering for home charging using various BMW Wallboxes. BMW Charging will present the bidirectional charging available in the BMW iX3 for the first time at the IAA Mobility show. This technology allows the iX3 to feed energy from its high-voltage battery into the customer’s home power supply (Vehicle-to-Home – V2H) or the public grid (Vehicle-to-Grid – V2G).

Models from BMW, MINI and BMW Motorrad at the Open Space.
Beyond the IAA Mobility show’s focus on the BMW iX3 as the first Neue Klasse vehicle, fans of the other BMW models and aficionados of the MINI, BMW M and BMW Motorrad brands are also well catered for, needless to say. Among the models on the bill at the Open Space are the battery-electric BMW i4, BMW i5, BMW i7 and BMW iX, the BMW X3 30e xDrive (WLTP, combined – in accordance with the EnVKV [German Passenger Car Energy Labelling Regulation]*: energy consumption weighted: 16.7 kWh/100 km and 3.3 l/100 km [85.6 mpg imp]; CO₂ emissions weighted: 76 g/km; CO₂ classes: with discharged battery G; weighted B; fuel consumption with discharged battery: 8.2 l/100 km [34.5 mpg imp]) and the BMW M5 Touring with plug-in hybrid drive system (WLTP, combined – in accordance with the EnVKV: energy consumption weighted: 27.6 kWh/100 km and 2.0 l/100 km [141.2 mpg imp]; CO₂ emissions weighted: 45 g/km (WLTP); CO₂ classes: with discharged battery G, weighted B; fuel consumption with discharged battery: 10.9 l/100 km [25.9 mpg imp]).

BMW Motorrad is presenting the BMW CE 02 and BMW CE 04 electric premium scooters – for electric mobility majoring in manoeuvrability – at the city-centre location. And with the BMW Vision CE, the brand also offers a fascinating look ahead to how developers and designers are envisaging the future of fully electric scooters for the big city.

MINI: show cars and “Britishness” launch a stage takeover.
MINI will spread its IAA Mobility 2025 presence across two locations in the heart of Munich. Its spectacular Open Space set at Max-Joseph-Platz and central brand appearance at the MINI Pavillon on Lenbachplatz will provide insights deep into the DNA of the brand. Plus, two eye-catching JCW show cars will celebrate their world premieres in Munich as part of a suitably gripping presentation. The Bavarian capital will turn into one huge stage for the iconic British brand during IAA Mobility 2025.

The JCW show cars will bring attention-grabbing presence to the MINI Pavillon and provide visual evidence of motor sport as a defining element of MINI DNA. The British icon and racing competition certainly go hand in hand, as confirmed most recently by the brand’s latest success in the Nürburgring 24-hour race. The show cars will be on display at Lenbachplatz for the duration of the IAA, locking into the spirit of a world-renowned fashion and lifestyle brand. The MINI Pavillon will be extensively refurbished for the occasion and dedicated entirely to the John Cooper Works sub-brand.

Entertainment for families at the Open Space.
In 2025, as in previous years, the Family Area at the Open Space invites visitors to get involved and enjoy a spot of relaxation at the same time. Children, teenagers and families can look forward to creative attractions such as LEGO build areas, a Disney+ Dance Challenge with Lilo & Stitch, craft activities and a water station. Other highlights – e.g. on the roof terrace – only add to the richly varied family programme.

Events at the exhibition centre, BMW Welt and BMW Museum.
Expanding on its star turn at the Open Space on Max-Joseph-Platz, the BMW iX3 also holds sway at the BMW Group’s 2,000 m² stand in the exhibition centre – which is located in Riem, in the eastern part of Munich. Alongside the spread of vehicles on display here at the Summit, innovations including BMW Panoramic iDrive, sixth-generation eDrive technology, and driving dynamics management provided by the “Heart of Joy” high-performance computer will be front and centre of presentations and talks by experts. The most important elements of BMW Panoramic iDrive are the display surface spanning the full width of the lower windscreen, the new multifunction steering wheel with shy-tech technology, and the Central Display. All play their part in an impressive large-scale animation. The experts at the Summit will also shed light on areas such as fuel cells, alternative fuels, plug-in hybrid drive systems and charging technology.

1961 Neue Klasse also makes an appearance at the show.
The BMW Group’s stand at the exhibition centre will be showcasing a celebrity car from years past, as BMW Classic winds back the clock to a BMW 1500 from the 1960s – the first model in the original Neue Klasse line-up. The 1500 was the headline act at the 1961 IAA in Frankfurt, a genuine breakthrough star that wrote the opening lines for an international success story. The Neue Klasse laid the foundations for the BMW Group to become the world’s most successful maker of premium automobiles. And now the BMW iX3 of 2025 takes us full circle – a car with all the tools to build on this growth and the first model in another new era.

Visitors to the exhibition centre will also encounter a selection of current models, including a BMW M5 Touring, a BMW X3 20d xDrive (WLTP, combined (EnVKV)*: fuel consumption 6.5 l/100 km [43.5 mpg imp]; CO₂ emissions 171 g/km; CO₂ class: F) and a BMW iX5 Hydrogen* (consumption as per WLTP: 1.19 kg H₂/100 km; consumption, combined as per NEDC: –; CO₂ emissions, combined as per WLTP: 0 g/km; range as per WLTP: 504 km [313 miles]; CO₂ class: A).

BMW Welt switches on a new type of charging hub.
As well as its appearances at the Open Space in the city centre and the exhibition centre, the BMW iX3 will also be on show at BMW Welt in the north of Munich from 6 September. Under the spotlight here along with the new fully electric BMW model are innovations such as BMW Panoramic iDrive and services like BMW Charging. During the IAA, customers stopping to top up their vehicles at the BMW Welt charging stations will be treated to a refreshing surprise and, if desired, a free personal tour of all things BMW iX3 and BMW Charging.

Shortly before IAA Mobility 2025 opens to visitors, a new vehicle charging hub will go into service outside BMW Welt. The BMW Welt High-Power Charging station will provide eight charging points for electric vehicles. Created by Designworks, BMW’s innovation studio, the hub fits in neatly with the unique architecture of the overall building. Expert talks and presentations will accompany the introduction of the new charging facility from 8 September and continue throughout IAA Mobility 2025.

DigiTour: interactive experiences at the BMW Museum.
The BMW Museum will greet visitors to IAA Mobility 2025 with a new digital attraction: the BMW Museum DigiTour. This web-based app, which can be accessed without downloading, provides a modern, fascinating and interactive offering for the visitors from around the world. This new digital visitor experience brings the history and allure of the BMW brand to life. A highlights tour of classic BMWs (from the early days to the present day) will be presented here in digital form, as will shortly the Museum’s temporary exhibition “Belle Macchine – Italian Automotive Design at BMW.” Additional tours are planned, including options for families and kids. The BMW Museum DigiTour is free of charge, opens a window into rarely shown archive material and is available in several different languages. 

The BMW Group: sustainability and circular economy across all areas.
As an integral part of the BMW Group’s strategy at IAA Mobility 2025, the theme of sustainability stands tall in an array of world premieres and innovations. Alongside the electrification of its drive systems, the BMW Group has adopted a holistic approach to achieving its goals in this area. The focus here is on reducing CO₂ emissions throughout a vehicle’s life cycle, and the development of the Neue Klasse has seen BMW doubling down on its commitment to these objectives. From the development of a product, use of secondary materials, procurement of raw materials and production, to the product’s use phase and eventual recycling, the BMW Group adheres to consistently circular thinking. This engagement with circularity can also been seen across the BMW Group’s stands at IAA Mobility 2025. Around 80 per cent of the installations, fixtures and materials in the Open Space at Max-Joseph-Platz are either already being reused or have been procured explicitly for extended use at other events as well. Plants, robots, concrete barriers and much of the event technology have largely been hired. The presentation at the Summit involves an even greater commitment to reusing materials. Single usage is therefore restricted primarily to graphics and materials placed under heavy stresses, such as floor coverings and wall surfaces.

*Consumption and emissions figures:
The figures for fuel consumption, CO₂ emissions, electric power consumption and range refer to vehicles in the German market. All figures are calculated based on the new WLTP test cycle. Fuel consumption and emissions data refers to the German Passenger Car Energy Labelling Regulation (PKW-EnVKV).


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


www.bmwgroup.com

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

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- Check against delivery –

Ladies and Gentlemen,

Good morning.

Thanks to the strength and foresight of our strategy, our attractive product portfolio and our global team and operations, the BMW Group is built to weather various conditions.

This is what separates us from the competition. And it underscores that there is not ONE automotive industry – major players are currently performing quite differently.

Through the first half-year, our sales performance demonstrates the appeal of our global brands and the ongoing success of our broad technological approach.

After confirming our original guidance from our Annual Conference after the first quarter results, we remain on track with our financial targets for the year – despite ongoing tariff uncertainty and fluctuations in the Chinese market.

Unpredictability is a longstanding feature of the auto industry and is the norm in today’s business environment. What is decisive is how you deal with it. Because global success is rather predicated on your ability to anticipate developments and to respond rationally and efficiently.

That is fundamental to the BMW Group. And we are building upon our leading position in the industry.

The overall global automotive market is growing. We are always ready to profitably gain market share wherever individual market conditions allow. As dynamics in the industry shift, we know exactly where we are placed with our premium brands and where we can pursue opportunities – maintaining a healthy balance of value and volume.

Over many decades, we have built up a comprehensive and balanced network of sales, production and supply chain operations spanning the major regions. This makes us one of the few truly global players in the industry and our deep roots in global markets offer us many advantages.

First, they allow us to tap into leading-edge developments in the individual markets and understand specific customer needs. Our ties to research universities, our R&D network and IT hubs and our network of local tech partners enable us to leverage key competencies from individual markets for our global products and strategy.

Second, through our extensive footprint in key markets, we remain resilient in the face of geopolitical instability and ever-increasing regulation.

Finally, our strong ties also allow us to engage in direct discussions with key political decision-makers, who value our perspective. Here, it is not just about our individual interests, but rather finding solutions for customers worldwide and driving shared economic prosperity.

The BMW Group welcomes the fundamental agreement between the European Union and the United States to reduce tariffs on both sides of the Atlantic. It’s now important to quickly finalize and implement the agreed measures.

We will continue to advocate for trade between the EU and the US not be hindered by import tariffs. The currently agreed US tariffs also burden European exports, affecting consumers and globally operating companies. Therefore, we urge both sides to continue working towards market openness and the convergence of technical regulations.

Through our global production network and supply chains, we maintain high flexibility to respond to fluctuations. Our production plants are attuned to market demand, allowing us to achieve capacity utilization above the industry standards.

At our largest single plant in Spartanburg in the United States, for example, we produce over 400,000 vehicles annually. Over half of which serve the local market and half of which we export. Across the United States we have created extensive value chains as well as a competency hub for our global X Family of vehicles in Spartanburg, which remain in high demand across the entire globe.

BMW made in America and sold to the world.

This combination of leveraging the competitive advantage of the US market in SUVs with BMW’s brand strength allows us to develop products which speak to customers’ needs in markets worldwide.

For the current financial year, our sales results continued into Q2 in line with our expectations, as conditions continue to vary from market to market. In Q2, we saw a sequential improvement from Q1.

Outside of China, all three of our major sales regions posted growth.

Group sales in these markets combined to grow by 6.3% through the first six months of the year.

Group sales in Europe grew overall by 10.2% in the second quarter and in Germany alone by over 10%, with growth in most markets outpacing the passenger vehicle market. Overall, the BMW brand increased its market share in Europe.

Among the most successful BMW models were those in the business class segment. In the first half of the year, the BMW 5 Series saw growth of more than 40% worldwide compared to 2024.

Other notable models that saw success included the BMW X2 models, which more than doubled sales through June.

With the full availability of the new MINI family, the brand grew in all regions worldwide, including in China. In the first half of the year, more than one in three MINIs sold was a BEV.

Rolls-Royce increased deliveries by nearly 10% in the second quarter, driven by strong sales from the Cullinan Series II*.

Drivetrains and model variants across the portfolio continued to see success in Q2. BMW M sold nearly 106,000 vehicles through June, the best-ever first half-year for the brand.

Sales of plug-in hybrid models from the BMW brand grew by almost 30% in the first six months. Our BEV models continue to be a fundamental pillar of our strategy. In the second quarter, we achieved an important milestone, with the delivery of our 1.5-millionth all-electric vehicle. Across the portfolio, we now offer more than 15 all-electric models.

In Europe, the Group’s BEV share reached 25%. With PHEVs included, the electrified share reached nearly 40%. Across all brands, BMW is the third best-selling BEV brand in Europe.

While we are proud of our position as a leading BEV player, we know that the world is multi-dimensional.

To meet consumer needs, especially in a product as complex and personal as a car, there is no single answer. Our Q2 results show that we can serve multiple preferences simultaneously: BEVs, PHEVs and our M models all achieved growth.

The most effective strategic approach is to use all technologies to reduce CO2 emissions overall. We remain committed to the goals of the Paris Climate Agreement, while advocating for a review of the 2030 and 2035 targets in the EU.

To achieve these goals and create effective CO2 regulations, we must take a comprehensive view across the entire value chain. This would consider all emissions across the entire life cycle and not just tailpipe emissions: from the supply chain to the raw materials used in the car, the production process, the vehicle drive, energy used to power the vehicle, and finally to recycling.

A dependency on a single technology can be damaging to an industry. Putting all your eggs in one basket is just poor asset allocation.

Hydrogen, for example, offers Europe an opportunity to use our expertise and take the lead on an emerging technology that will contribute to our climate goals. And, unlike BEVs, without the need for large amounts of raw materials or battery technology which are not localizable at large scale in Europe.

Beyond drivetrains, there is great potential with alternative fuels. There are more than 250 million vehicles in the EU, which could now immediately contribute to climate protection. But this requires a clear regulatory pathway and targeted investments in the ramp-up of all renewable fuels.

Take HVO100 as an example. While it is already available in markets across Europe, tax schemes and the CO2 fleet targets need to recognize this renewable fueling option to incentivize customer adoption. This would help in scaling an alternative fuel that has a 90% CO2 saving compared to normal fuels and can already be accessed today. For OEMs and customers, this is also a cost-effective way to reduce emissions in the use phase.

For Europe to maintain competitiveness and finance its future, we need to invest not only in new technologies, but also leverage our existing technologies, which can meet customer preferences and still contribute to climate targets.

For the BMW Group, we are now just five weeks away from the next major innovation step, which our entire company has been fully focused on for many years now: the launch of the NEUE KLASSE.

On September 5th, we will celebrate the world premiere of the all-new BMW iX3* at the IAA Mobility here in Munich.

In June we hosted media representatives at the pre-drive event in Miramas in southern France. The initial feedback has been tremendous.

We remain right on time with the launch, including at our new Plant in Debrecen. Construction also continues at our battery assembly facility in Irlbach-Straßkirchen.

With the NEUE KLASSE, we are making great strides in all relevant technology fields – whether in electrification, digital user experience, driving dynamics or sustainability.

The new BMW iX3 will be benchmark in the industry.

The all-electric 6th generation powertrain will set standards in performance and efficiency:

• powered by our battery cells developed in house, with 20% more energy density:
• an electric range of up to 800 kilometers according to WLTP;
• With 400-kilowatt maximum charging, customers will be able add over 350 kilometers to their vehicle’s range in just 10 minutes according to WLTP;
• And with an energy consumption of 15 kilowatt hours per 100 kilometers.

In addition, our revolutionary new iDrive will change the way the driver interacts with the car. With the BMW iDrive, we set an industry standard more than twenty years ago. After the reveal of the all-new Panoramic iDrive at CES in January, we are already seeing the industry follow our lead.

With the technology clusters we have developed for the NEUE KLASSE, we will scale our advanced technologies across the portfolio. We will start in the core segment to build momentum quickly. This is simply smart economics.

By 2027, we will bring 40 new models and model updates with NEUE KLASSE technology and design language on the road worldwide.

Our technology cluster approach also allows us to integrate market-specific features and content. In our major sales regions, we have a variety of local solutions with leading partners. This allows us, for example, to further enhance the digital user experience as well as automated driving functions in our upcoming NEUE KLASSE models.

In China, we are collaborating with Alibaba Banma to develop the next level of intuitive and conversational in-car voice interaction. We will also enhance our BMW Intelligent Personal Assistant with functionality from DeepSeek in our vehicles in China.

In most other countries, the next-gen BMW intelligent personal assistant will be powered by large language model technology from Amazon Alexa.

For driving assistance systems that meet local needs and regulations, we have also sought out partners in different geographies. Always following our philosophy in this area: smart, symbiotic and safe.

Just two weeks ago, we announced a new partnership with Momenta, a leading Chinese ADAS technology provider. The partnership will focus on software development and integration for Chinese road-networks, traffic-conditions and user expectations, utilizing advanced AI algorithms and data driven development methods. We will launch the systems in China starting with our NEUE KLASSE.

In other markets, we continue to build on our already very successful partnership with Qualcomm.

These examples show how adaptive the NEUE KLASSE architecture is.

With a software-defined vehicle, we maintain competency over all systems of the car and can roll them out to markets at the same time across the world. But we also are able to quickly integrate local tech stacks into our own ecosystem to give consumers access to innovations and features they are used to.

And through backward integration of software solutions available for all aspects of the vehicle over the air, we will continuously enhance the customer experience.

This is a huge advantage for us.

Ladies and Gentlemen,

Our consistent strategic approach and continued success is not a coincidence but the result of resolute, long-term planning and orientation. It is a multi-year process in every area of the company.

This is what our stakeholders expect from us.

The BMW brand is a promise. And we deliver on our promises.

We continue to build upon the strong position we are in today.

With the rollout of NEUE KLASSE technologies and products over the next two years, we will bring the company to a whole new level.

Thank you.

- Check against delivery –

SLIDE 2: BMW Group Half-Year Report to 30 June

Good morning,

Ladies and Gentlemen,

After the first six months of the year, the BMW Group remains on track to meet its full-year targets for 2025.

As expected, tariffs weighed significantly on financials in the second quarter.

Nevertheless, the BMW Group achieved Group earnings before tax of over 5.7 billion euros and a Group EBT Margin of 8.5 percent in the first six months.

SLIDE 3: BMW Group Performance in Q2 2025

In the second quarter, deliveries to customers at Group level increased by 0.4 percent year-on-year.

As of June, BMW Group global sales remained on par with last year.

All-electric vehicles made an important contribution with a share of total sales of 18.3 percent.

The share of electrified vehicles – meaning either a BEV or a plug-in hybrid – even amounted to 26.4 percent.

Group earnings before tax totaled over 2.6 billion euros in the second quarter and over 5.7 billion euros after 6 months.

This resulted in a Group EBT margin of 7.7 percent in Q2 and 8.5 percent in the first half-year.

The operating profit in the Automotive segment reached 1.6 billion euros in Q2 and over 3.6 billion euros after 6 months.

This led to an Automotive EBIT margin of 5.4 percent for the second quarter and 6.2 percent for the year to the end of June – both within our full-year guidance of 5 to 7 percent.

Excluding the depreciation resulting from the purchase price allocation of BBA, the margins came in at 6.5 percent for the second quarter and 7.3 percent through six months.

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

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

Between April and June, deliveries of BMW, MINI and Rolls-Royce vehicles to customers were on previous year’s level with 621,000 units.

We saw sales growth in all regions except China.

The BMW brand declined slightly by 2.6 percent compared to the second quarter of 2024.

Outside of China the brand grew by 4.7 percent.

MINI benefitted from the full availability of the entire model range and reported a significant year-on-year growth of 33.2 percent in the second quarter across all regions.

Retail sales in Q2 were especially strong in Europe, with double-digit growth of 10.2 percent year-on-year.

The European order intake for BMW remains strong, with an order bank reaching well into the fourth quarter.

The US reported a growth of 1.4 percent in Q2.

In China, retail sales levels in the first six months of 2025 were down 15.5 percent compared to the previous year.

However, during the second quarter we saw a slight sequential improvement month by month.

Sales of our all-electric vehicles continued to grow.

In the second quarter, we delivered more than 111,000 all-electric vehicles to customers.

Automotive segment revenues decreased moderately by 8.4 percent to 29.4 billion euros in the second quarter.

Adjusted for currency translation effects, the decrease was 5.3 percent, mainly due to lower sales volume in China.

Segment EBIT for the period from April to June totaled 1.6 billion euros.

The EBIT margin came in at 5.4 percent for the quarter and 6.2 percent for the half-year.

These margins include the negative effects from tariffs, which amounted to around 2 percentage points in the second quarter and around 1.5 percentage points in the first six months.

That brings me to my next slide, to take a detailed look at the year-on-year changes in the operational result.

SLIDE 5: Automotive Segment EBIT in Q2

Automotive EBIT declined by around 1.1 billion euros compared to the second quarter of 2024.

More than half of this difference is due to the impact of tariffs, which is included in the position Other.

Changes in currency and raw material positions were neutral in Q2.

In the second half year, we expect a headwind year-on-year.

The net balance of volume, model mix and pricing effects negatively impacted EBIT by 300 million euros in the second quarter, compared to the previous year.

Volume and model mix combined were neutral.

Pricing continues to be a headwind year-on-year, however to a much lesser extent than in the first quarter.

Competitive pressure remains strong, especially in the Chinese market. Here, price levels of the second half of 2024 continued into the first half-year of 2025, as expected.

Research and development expenses decreased by about 200 million euros compared to the prior-year quarter.

Group R&D expenditure as of June totaled 4 billion euros, slightly below previous year.

The R&D ratio according to the German Commercial Code came in at 6 percent after six months.

For the full year, R&D expenditure will be below last year’s level, and it will steadily decrease over the next years.

Selling and administrative expenses also decreased by around 100 million euros compared to the previous year.

The year-on-year headwind of 1.1 billion euros from Other Cost Changes can mainly be attributed to two factors:

• First, higher tariffs in the US and anti-subsidy tariffs imposed by the EU Commission on electrified vehicles from China
• And second, the sale of end-of-lease vehicles. Here, resale income was lower than in the second quarter of 2024, yet remains positive on a portfolio basis

SLIDE 6: Automotive Segment Free Cash Flow in Q2

Free cash flow in the Automotive Segment totaled about 1.9 billion euros in the second quarter.

Segment EBT amounted to 1.6 billion euros, which is 1 billion euros lower than in the previous year’s quarter.

The net change in working capital reduced free cashflow by around 300 million euros.

The net effect from capital expenditure and depreciation had an impact of 200 million euros in the second quarter.

Capital expenditure for the first half-year amounted to around 2.7 billion euros, a significant year-on-year reduction of around 700 million euros.

The capex ratio was 4.5 percent for the second quarter and 4 percent for the first six months.

After the peak in 2024, capex will decrease for the full year 2025.

We expect a capex ratio below 6 percent for 2025.

Changes to provisions negatively impacted free cash flow in the second quarter by around 200 million euros. This was mainly due to the consumption of warranty provisions.

The change in the position Other of around 1 billion euros reflects the development of a set of various topics, including accrued expenses, interest and advance payments received, income taxes and liabilities for tariff expenses not yet paid out.

After the first six months, Automotive Segment free cash flow is on previous year’s level with just over 2.3 billion euros.

For the full year, we are targeting a free cash flow of over 5 billion euros.

Our strong free cash flow generation enables us to further execute our consistent shareholder return strategy.

In May of this year, the Annual General Meeting authorized the Board of Management to buy back up to 10 percent of BMW AG's share capital over the next five years.

Based on this authorization, a third share repurchase program with a volume of up to 2 billion euros was approved.

It should be completed by April 30, 2027, at the latest.

The first tranche of 750 million euros began in May and will be completed no later than December 8th of this year.

SLIDE 7: Financial Services Segment in H1

Let’s move on to the Financial Services Segment.

The number of new contracts, concluded with retail customers in the first half year, reached almost 825,000 contracts, a slight decrease of 3 percent year-on-year.

This is due to the challenging situation on the Chinese market, which led to a moderate decrease in new credit financing business.

The new leasing business continued its dynamic growth in the first six months of the year.

The penetration rate for lease and loan offerings increased by 2.5 percentage points to 43.7 percent.

Driven by a higher average financing amount per contract, new business volume was on previous year’s level despite the slight decrease in new contracts.

Segment earnings amounted to just under 1.2 billion euros, a year-on-year decrease of 19.5 percent.

This results mainly from two topics:

• An addition to provisions following the receipt of a revised operational tax assessment for prior years.
• And the resale income of end-of-lease vehicles, which was lower than in the second quarter of 2024, yet remains positive on a portfolio basis

The credit loss ratio across the entire loan portfolio remained at a low rate of 0.27 percent.

SLIDE 8: Motorcycles Segment in Q2

In the Motorcycles Segment, deliveries decreased moderately by 8 percent year-on-year.

Segment revenues decreased by 2.8 percent.

Adjusted for currency translation effects, they were on par with the second quarter of 2024.

Segment EBIT in the second quarter totaled 136 million euros, with an EBIT margin of 14.2 percent.

SLIDE 9: Outlook 2025

Ladies and Gentlemen,

Our outlook for the full year is based on assumptions, which are described in detail in our half-year report.

Let me briefly mention some key factors for our business development in 2025.

In China, we have been observing increased monitoring of the automotive market by local regulatory authorities since the last two weeks of June.

This also affects commission payments from local banks to dealerships in connection with brokering retail financial and insurance products, payment terms to the supplier base as well as increased scrutiny of price competition.

Dealer commissions were significantly reduced by local banks in June.

We are closely following these developments and their potential impact on the Chinese automotive market.

Ladies and Gentlemen,

As you recall, our guidance given in March included all tariffs in force as of March 12th.

In our quarterly statement for Q1, we had assessed and included all tariff increases announced as of May 7th and confirmed our original guidance based on certain assumptions.

And in today’s half-year report, we maintain our consistent approach and have also incorporated the effects of all latest announcements.

According to the announcements on July 27th, an agreement between the US and the EU regarding the tariff situation is emerging.

Based on published information by the respective authorities, we expect partial reductions of the currently applicable tariffs between the US and the EU from August 1st.

Additionally, tariff negotiations across the globe are ongoing and may result in further changes.

Therefore, the expected impact from tariffs on our full-year results can still only be estimated based on certain assumptions.

For the full year 2025, we currently expect a burden from tariffs of around 1.25 percentage points on the EBIT margin in the Automotive segment, including mitigations.

Based on our assumptions, the full-year outlook remains unchanged.

On a Group level, we are targeting earnings before tax at previous year’s level.

In the Automotive segment, we expect a slight increase in deliveries and an EBIT margin in a corridor between 5 and 7 percent.

The EBIT margin in the Motorcycles Segment should come in at between 5.5 and 7.5 percent.

In the Financial Services Segment, we expect a Return on Equity in the range of 13 to 16 percent.

SLIDE 10: Q2 and H2 Profitability within Full-Year Target Corridor

Ladies and Gentlemen,

The BMW Group is a truly differentiated global player.

We set ourselves apart in the automotive industry with our global footprint and our highly flexible operations.

This strong strategic positioning enables us to mitigate the impact of tariffs and allows us to adapt swiftly to changing market conditions.

The BMW Group has a focused strategy and a clear plan how to effectively navigate our operating business.

As a result, we were able to provide a comprehensive guidance for the year 2025 in March, including the impact of tariffs.

And we delivered an EBIT margin within the full year target corridor of 5 to 7 percent both in the second quarter and for half-year.

At the BMW Group, we are steering our business carefully and in a consistent manner.

During the last years, we significantly invested in the future of our company, in line with our long-term planning.

In 2024, both capex and R&D reached peak levels.

Starting in 2025, we are reducing R&D and capex spending, as planned.

Our operating costs are also decreasing compared to prior year. Just as in Q1, this is again evident in our Q2 figures.

Based on the results of the first six months, we once again confirm our full-year targets for 2025.

And we remain committed to our long-term goals

of premium profitability and capital return to create value

for all our stakeholders.

Thank you.

Munich. 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

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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.

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

Walter Mertl

Member of the Board of Management of BMW AG, Finance

Annual Conference 2025

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

Ladies and Gentlemen,

Good morning!

SLIDE: BMW Group in Full-Year 2024

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

The BMW Group proved this once again in Q4 2024:

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

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

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

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

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

2024 was a year of two halves:

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

SLIDE: BMW Group KPIs in FY24

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

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

SLIDE: BMW Group Segment Performance in FY24

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

SLIDE: Automotive EBIT Development in FY24

Looking to the operating result in detail:

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

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

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

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

SLIDE: R&D Expenditure in FY24

SLIDE: Capital Expenditure in FY24

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

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

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

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

SLIDE: Automotive Segment Free Cash Flow in FY24

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

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

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

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

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

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

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

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

SLIDE: Financial Services Segment in FY24

Moving on to the Financial Services Segment.

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

SLIDE: Proposed Dividend and Payout Ratio

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

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

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

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

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

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

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

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

Looking to the market development:

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

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

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

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

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

SLIDE: Outlook 2025

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

Let me focus on selected guidance parameters.

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

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

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

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

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

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

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

SLIDE: Closing

Ladies and Gentlemen,

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

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

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

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

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

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

O BMW Group entra em 2025 com uma clara estratégia de crescimento, sustentada na sua componente tecnológica, numa renovada linha de produtos e na nova era do NEUE KLASSE. Na Conferência Anual do BMW Group, realizada em Munique esta manhã, o Conselho de Administração da BMW AG apresentou os resultados financeiros de 2024, reafirmando o compromisso da empresa com a inovação, eletrificação e a eficiência das suas operações.

Oliver Zipse, Presidente do Conselho de Administração da BMW AG, destacou a importância da visão estratégica da empresa, afirmando que “o que sempre distinguiu o BMW Group foi a nossa capacidade de manter o rumo, mesmo em condições difíceis. Continuamos claramente focados em duas coisas - o nosso desempenho a curto prazo e a nossa perspetiva a longo prazo. Com o NEUE KLASSE, estamos a implementar o maior projeto com foco no futuro na história da nossa empresa, enquanto prevemos alcançar um fluxo financeiro robusto.”

Em 2024, o BMW Group manteve um desempenho financeiro sólido, impulsionado pelo crescimento contínuo da eletrificação e pela gestão eficiente dos custos operacionais. A empresa registou um aumento das receitas para 158,5 mil milhões de euros (+2,2% face a 2023), sustentado pelo lançamento de novos modelos e pela elevada procura no segmento premium.

O lucro antes de impostos (EBT) situou-se nos 17,3 mil milhões de euros, que reflete uma margem EBT estável de 10,9%. No segmento automóvel, a margem EBT fixou-se em 8,6%, dentro do intervalo previsto, demonstrando a capacidade da BMW em manter a rentabilidade num complexo contexto de transformação do setor.

O cash-flow no segmento automóvel atingiu os 6,6 mil milhões de euros, assegurando a capacidade de investimento da empresa no desenvolvimento de novas tecnologias e na expansão da produção do NEUE KLASSE.

Em 2024, o BMW Group continuou a impulsionar a eletrificação da sua gama, registando um aumento significativo nas vendas de veículos elétricos, que totalizaram 426.536 unidades (+13,5% face a 2024), o que representa mais de 17% do total das vendas. No caso da MINI, cerca de 25% das vendas foram modelos BEV, enquanto na Rolls-Royce, um em cada três veículos entregues foi elétrico, destacando a relevância do modelo Spectre para a marca.

Além dos BEV, os híbridos plug-in continuam a desempenhar um papel essencial na transição energética do BMW Group. Em 2024, a empresa entregou quase 600 mil veículos eletrificados (BEV + PHEV), reforçando o seu compromisso com a mobilidade sustentável.

Para 2025, o BMW Group antecipa um crescimento ligeiro nas vendas a nível global, impulsionado pelo aumento da produção de modelos elétricos e pela introdução dos modelos do NEUE KLASSE na sua gama. O grupo antecipa uma margem EBIT para o setor automóvel entre 5% e 7%, mantendo assim um elevado nível de eficiência e otimização de custos.

A BMW Motorrad espera um ligeiro crescimento nas vendas que permitirá manter a sua rentabilidade.

A BMW prevê também um ligeiro aumento da quota de veículos elétricos nas suas vendas, com os BEV a representarem entre 20% e 25% das vendas globais até ao final do ano.

Com o arranque da transformação de toda a gama e produção dos modelos do NEUE KLASSE, a BMW pretende que a nova geração de veículos 100% elétricos represente um salto tecnológico na indústria automóvel. O primeiro modelo desta linha será o BMW iX3, cuja produção se iniciará no final de 2025 na fábrica de Debrecen, Hungria - o primeiro centro de produção do BMW Group dedicado exclusivamente a veículos elétricos.

O NEUE KLASSE marca ainda a introdução de novos clusters tecnológicos que irão definir a próxima geração de veículos BMW, incluindo uma arquitetura elétrica de 800V, um novo conceito de software e uma experiência de condução altamente digitalizada. Estes avanços tecnológicos permitirão uma maior eficiência, carregamentos 30% mais rápidos e um aumento de, pelo menos, 30% na autonomia dos seus veículos elétricos.

O BMW Group mantém ainda assim, a sua gama alargada com a disponibilização de diversas motorizações que incluem motores de combustão altamente eficientes, híbridos plug-in e veículos elétricos. Em 2028, a marca dará um novo passo ao lançar o primeiro modelo de produção movido a hidrogénio, completando a oferta de soluções de mobilidade net-zero.

O BMW Group está a transformar os seus veículos em verdadeiras plataformas digitais, introduzindo um novo sistema digital que permitirá atualizações over-the-air e uma experiência de condução mais intuitiva e conectada. A nova geração do BMW Panoramic iDrive será estreada no BMW iX3, com um display panorâmico e interativo, um head-up display 3D e comandos de voz aprimorados através do BMW Intelligent Personal Assistant.

Com a nova arquitetura elétrica e software definido pela BMW, a marca conseguirá uma redução de 30% no peso da cablagem dos veículos, além de uma eficiência energética melhorada com a recuperação de energia em travagem mais eficaz e uma integração total entre motor, travagem e aerodinâmica

Munich/Landshut. The BMW Group is presenting its next leap forward in the field of electric drive technology – and in the process ushering in a new era of all-electric driving. At the Tech Days event in Landshut, the company has provided some initial insights into the development and production of high-voltage batteries and electric drive systems using the sixth generation of BMW eDrive technology. Every fully electric Neue Klasse vehicle will enjoy the benefits. The first Neue Klasse model will go into series production later this year at Plant Debrecen in Hungary. Below is an overview of the technology highlights:

• The Energy Master intelligent central control unit on the high-voltage battery – developed by the BMW Group and produced at Plant Landshut.
• A new high-voltage battery concept that, together with the BMW cylindrical cell, promises to bring about a technological quantum leap – including significant improvements in energy density, charging speed and range.
• The BMW Group also demonstrates its technology-openness with electric drive systems – through the use of different electric motor types: SSM and ASM.
• A modular approach to electric motor production gives the BMW Group an exceptional degree of flexibility.
• The BMW Group pools together expertise from the entire electric mobility value chain in Bavaria and Austria – from development, via purchasing and production, to recycling.
• The BMW Group demonstrates both technology-openness and full expertise across all areas of electric mobility.

Adopting a technology-open approach while setting the pace in electric mobility

“For the BMW Group, electric mobility is the future and a key area of growth. We are leading the way with this drivetrain technology. At the same time, we are deliberately taking a technology-open approach, recognizing that mobility needs vary between different regions of the world,” explains Dr Joachim Post, Member of the Board of Management of BMW AG, Purchasing and Supplier Network. “We want to offer our customers the best drive concept for every need. It is possible to do both: offer the best drive technology for every need and be at the forefront of electric mobility.”

Slimmer, faster, further: the high-voltage batteries for Gen6

With the new sixth-generation BMW eDrive technology (Gen6 for short), the BMW Group is making a technological quantum leap. Improvements on the product side include a 30% faster charging speed and 30% increase in range, with certain models achieving even higher figures. Added to which, the Gen6 high-voltage battery concept benefits from the new 800V technology. Gen6 will make its debut this year in the Neue Klasse and subsequently be used to drive models across the BMW Group’s fully electric product range. The concept for the Gen6 high-voltage batteries is fundamentally new and will find applications in all vehicle segments – right up to the high-performance models from BMW M GmbH. Its new, even slimmer design allows the high-voltage battery to be integrated into a spread of different models, regardless of vehicle height. The high-voltage battery takes on the role of a structural component in the bodies of the Neue Klasse models (“pack-to-open-body”), and the new cylindrical cells will be integrated directly into the high-voltage battery (“cell-to-pack”). The new BMW cylindrical cell has a 20% greater energy density than its predecessor, the Gen5 prismatic battery cell. And charging in both directions will be possible: the BMW Group has confirmed bidirectional charging as standard for Gen6.

Highly intelligent central control unit: the BMW Energy Master

All of the elements that enable this technological leap forward come together in the BMW Energy Master. This central control unit is positioned on the high-voltage battery and provides the interface for high- and low-voltage power supply and for data from the high-voltage battery. It also controls the power supply for the electric motor and vehicle electrical system and ensures the safe and intelligent operation of the high-voltage battery. The BMW Group has filed a whole series of new patent applications for the vehicle electrical system, including its electronic fuses. Both the hardware and software of the Energy Master were developed fully in-house at the BMW Group. This ensures technological developments and updates for vehicles can be implemented independently and in real time via Remote Software Upgrades, providing a particular benefit for customers.

“Local for local” approach for high-voltage battery assembly and supplier network

The high-voltage batteries for the Neue Klasse are assembled in five new production facilities that the BMW Group has located close to its vehicle plants as part of a “local for local” approach. For example, cutting-edge assembly locations for Gen6 high-voltage batteries are taking shape in Irlbach-Straßkirchen (Lower Bavaria), Debrecen (Hungary), Shenyang (China), San Luis Potosí (Mexico) and Woodruff, near Spartanburg (USA). This approach safeguards production even in the event of unforeseen political and economic events. In addition, the existing locations are being strengthened, with jobs both secured and created. The “local for local” principle continues in the supplier network for battery cells: in order to cover the demand for Gen6, the BMW Group has reached contractual agreements for five battery cell factories – spread across Europe, China and the USA – with various partners.

“Cell-to-pack” and “pack-to-open-body”

Production of the Gen6 high-voltage batteries follows the “cell-to-pack” and “pack-to-open-body” principles. “Cell-to-pack” involves positioning the cylindrical cells – manufactured by the suppliers according to BMW Group specifications – directly in the housing of the high-voltage battery, without the intermediate step of a module being produced. “Pack-to-open-body” refers to the high-voltage battery’s new role as a structural component in the vehicle architecture. Numerous innovations patented by the BMW Group can be found here.

Know-how from Bavaria and Austria – in demand around the world

Before series production of the high-voltage batteries gets underway worldwide, the production processes will be developed and pre-series batteries subjected to thorough testing. This will happen at the BMW Group pilot plants for high-voltage batteries in Parsdorf, Hallbergmoos and Munich. The new series production plants around the world will then be ready. The product and process expertise is centred in Bavaria. Production of the Energy Master will take place at Plant Landshut, which will then supply all the high-voltage battery assembly plants around the world. There, the highly intelligent control unit will be installed on the high-voltage battery. The electric motor with sixth-generation BMW eDrive technology is produced at Plant Steyr in Austria, which is also home to a development centre for electric drive systems and thermal management.

Production of the Energy Master at BMW Group Plant Landshut  

A state-of-the-art production system for the BMW Energy Master is taking shape at Plant Landshut. The plant is currently producing the highly complex control unit in pre-series. Series production on the first production line will begin in August 2025, with a further expansion stage to follow in mid-2026. This is the first time the development and production of this central control unit has taken place in-house at the BMW Group. “As the company’s largest in-house component manufacturer, Landshut plays an important role for the Neue Klasse,” says Dr Joachim Post. “The plant is an innovation hub and a driver of transformation.” Around 200 people will be employed in the Energy Master production area at Landshut when production begins, rising to as many as 700 people as it ramps up further. The BMW Group has channelled investment in the high hundreds of millions of euros into the expansion of electric mobility at Plant Landshut since 2020, strengthening both the production facility itself and Germany’s status as an industrial powerhouse for the long term. The modular manufacturing system used to produce the Energy Master was also designed fully in-house by the BMW Group. It is supplied with subcomponents by a supply chain set up by the BMW Group. This extends to the n-tier supply chain for supply-critical components such as semiconductors. The benefits of this set-up can be seen in terms of both costs and supply security. The scalable production system enables the company to respond quickly and flexibly to market requirements. The high degree of automation, involving up to 400 robots in the final expansion stage, maximises efficiency. Comprehensive in-process monitoring, which includes the use of AI-based camera systems, and 100-per-cent end-of-line system checks in a clean-room environment ensure optimum quality.

Different recycling processes within the value chain

As electric mobility ramps up, there is an increasing focus on recycling of high-voltage batteries at the end of their lifecycle. Under a long-term partnership with SK tes – a leading provider of innovative technology lifecycle solutions – cobalt, nickel and lithium from end-of-life batteries are recovered from the BMW Group and integrated into the supply chain for the manufacture of new batteries. This closed-loop approach increases the efficiency and resilience of the BMW Group as part of a circular economy. The BMW Group will follow a similar path in the USA, Mexico and Canada up to 2026 with a separate partnership.

Innovative direct recycling at the BMW Group

The BMW Group is also exploring other recycling options in the value creation process. One example of this is the direct recycling method developed in-house. The BMW Group is working with its joint venture Encory to set up a competence centre for battery cell recycling in Lower Bavaria, where the company will put its direct recycling ideas into practice. This innovative process will enable residual materials from battery cell production and whole battery cells to be mechanically broken down into their valuable constituent components. The raw materials obtained in this way will be re-used directly in the pilot production process for battery cells at the company’s competence centres.

Technology-open approach for electric mobility: the new e-drive system of Gen6

The BMW Group has retained the principle of an electrically excited synchronous motor (EESM) for its Gen6 power unit. On this type of synchronous motor, the magnetic field in the rotor is generated by windings fed with direct current rather than permanent magnets. In this way, the strength of the rotor’s magnetic field can be optimally adjusted to the prevailing load conditions. This results in both excellent levels of efficiency at customer-relevant operating points and constant power output at high rotational speeds. As with the Gen5 version, the synchronous motor will be positioned above the rear axle and feature a compact housing incorporating the electric drive unit, power electronics and transmission. Many of the motor’s technical details were created with the help of patented expertise, with the non-potted rotor alone accounting for more than ten patent applications.

Neue Klasse additionally incorporates ASM technology

The Gen6 powertrain employs a second, additional electric motor technology in the form of the asynchronous motor (ASM). Here, instead of being generated by permanent magnets (PSM) or electrical excitation (EESM), the rotor’s magnetic field is induced by the stator. On this type of motor, the rotor takes the form of a metal cage. The asynchronous motor offers the advantage of a more compact design and superior cost efficiency. The ASM motor variants will be fitted at the front axle of Neue Klasse cars with BMW xDrive.

Extensive improvements to EESM technology

Besides the addition of ASM technology, the EESM technology has also undergone a major upgrade for Gen6: rotor, stator and inverter have all been fully designed for the new 800V architecture of the Gen6 tech in order to maximise drive system performance and efficiency. This has been further helped by a complete redesign of the oil and water cooling systems. In addition to this, the experts from the BMW Group have also succeeded in improving the electric motor and central housing in terms of their weight and rigidity too. The transmission still uses a two-stage helical design, but has been further optimised by enhancements to its geometry and cooling, lower friction levels and more pleasant acoustics. The electrically excited synchronous motor’s “brain”, the inverter, now features 800V technology along with silicon carbide (SiC) semiconductors to boost efficiency. The inverter is completely integrated into the electric motor’s housing. Its task is to convert the DC power supply from the high-voltage battery to AC for use in the electric motor. The inverter was developed in-house by the BMW Group and is produced at Plant Steyr in Austria.

Lower weight, costs and energy losses – greater efficiency in the vehicle

The results obtained from intelligently incorporating new technologies into the electric powertrain while consistently enhancing existing systems make impressive reading. When compared to a Gen5 xDrive model, a future Neue Klasse model complete with EESM and ASM technology boasts the following improvements: energy losses have been reduced by 40%, costs by 20% and weight by 10%. By combining different types of electric motor, the BMW Group’s technology-open approach is therefore clearly in evidence within the field of electric mobility. In future, customers will be able to choose from models equipped with one, two, three or four electric motors to suit their individual preferences and requirements. The sixth generation BMW eDrive technology is a significant factor in the gain in overall vehicle efficiency of around 20 per cent for the Neue Klasse. This figure is based on a comparison with the current generation of all-electric vehicles from the BMW Group.

Modular concept provides crucial advantage for manufacturing electric motors

The manufacturing concept for the Gen6 electric drive system uses the principle of modular building blocks. This forms the basis for highly flexible manufacturing of various electric drive variants across the entire Neue Klasse model range. The modular "building block” concept leads to positive economies of scale and cost savings in development and production. It also has the effect of improving the scalability of production volumes. The modular approach ensures a high degree of flexibility in production, the supply networks and procurement.

The Gen6 electric drive systems: made in Steyr

Series production of the Gen6 electric drive systems will commence at BMW Group Plant Steyr in summer 2025. Pre-production already got underway at the Austrian facility in September 2024. The pre-production motors are undergoing rigorous testing and some are already being fitted in Neue Klasse test vehicles from Plant Debrecen. By 2030, the BMW Group will have invested over one billion euros at the site since the project’s launch in 2022 to expand its development and production expertise for electric drive systems. Thanks to the increase in capacity, the plant will retain its status as the BMW Group’s leading facility for drive systems. The plant has been developing and building combustion engines for the BMW and MINI brands for over 40 years. Plant Steyr’s many years of experience and high level of expertise in the field of drive systems make it the ideal site for manufacturing the Gen6 electric motors. It has an annual production capacity of 600,000 electric drive units. Diesel and petrol engines continue to be manufactured there alongside the electric motors. By 2030, around half of the on-site employees should be working in electric mobility – a vital step for safeguarding the more than 4,700 jobs at the plant in the long term. In future, all key components of the innovative, highly integrated electric drive unit – i.e. the rotor, stator, transmission, inverter and housing – will be produced at Steyr. This will include manufacturing the inverters in an in-house clean room environment for the first time, thereby taking the engine plant into the realm of electrical engineering. The electric drive components will be built on two new assembly lines at Steyr.

Thermal management: complex interaction, crucial for performance
Thermal management involves highly complex interaction between various systems in an electric vehicle and is of critical importance for a host of performance parameters, including range, real-world consumption, acceleration and charging time. Thermal management is a question of constantly keeping the temperature of the electric motor, power electronics and high-voltage battery in the optimum range, while maintaining standards of passenger comfort at the same time. Efficient thermal management is important for fast charging too. Here, the battery temperature must be kept within a defined window in order to make optimum use of the available charging capacity. Unlike combustion engines, electric motors give off little heat. This means that, depending on the operating state, the battery and the passenger cell have to be not only cooled, but heated too. The Steyr site develops the thermal management systems for all electric vehicles from the BMW Group. The plant’s development centre is also responsible for the brain at the heart of the electric motor – the inverter.

BMW Group Plant Landshut – a multi-talented component manufacturer

BMW Group Plant Landshut is the BMW Group’s largest component plant anywhere in the world, supplying components to all the company’s vehicle and drive system plants. Its workforce of around 3,700 employees produces a broad spectrum of cutting-edge components for vehicles from the BMW Group. Working closely with the BMW Group’s Research and Innovation Centre (FIZ) in Munich, Plant Landshut plays a pivotal role as a hub of innovation for the automotive industry. It develops pioneering technologies and manufacturing processes that serve to maintain the company’s competitive edge. Over the course of the Neue Klasse project, the site is investing some €200 million in its light metal foundry to increase annual production capacity for the electric motor housings. The Injector Casting (ICA) process developed and patented in Landshut is a prime example of the plant’s innovative strength. This globally unique process is used to manufacture the electric motors’ highly complex aluminium housings that set new standards for lightweight design and functional integration.

In the event of enquiries please contact:

Corporate Communications

Christian Marxt

Spokesperson Production Network, Powertrain and High-voltage Batteries

Mobile: +49-151-601-79158

E-mail: Christian.Marxt@bmwgroup.com

Carolin Seidel

Spokesperson BMW Group Plant Landshut

Mobile: +49-151-601-90340

E-mail: Carolin.Seidel@bmwgroup.com

Florian Moser

Team Lead Purchasing and Supplier Network, Spokesperson Dr Joachim Post

Mobile: +49-151-601-62847

E-mail: Florian.Moser@bmwgroup.com

Bernhard Ederer

Spokesperson Drive Technology, Battery, Charging, Efficient Dynamics

Mobile: +49-176-601-28556

E-mail: Bernhard.Ederer@bmwgroup.com

Diana Schaidnagel

Spokesperson Sustainability

Mobile: +49-151-601-38407

E-mail: Diana.Schaidnagel@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 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 2023 was € 17.1 billion on revenues amounting to € 155.5 billion. As of 31 December 2023, the BMW Group had a workforce of 154,950 employees.

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

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

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

- Check against delivery –

Ladies and Gentlemen,

Good morning,

SLIDE 2: BMW Group Half-Year Report to 30 June 2024

The BMW Group remains on track and confirms its targets for 2024, despite the volatile market environment.

After a successful start to the year, we again achieved an EBIT margin for the Automotive Segment within our full year target range of 8-10 percent in the second quarter, thanks to our attractive product portfolio.

At the same time, we are continuing to invest in our future model line-up and securing the company’s long-term competitiveness.

SLIDE 3: Highlights of BMW Group Performance in Q2 2024

As of June, BMW Group global sales remained on par with last year.

The BMW brand grew by 2.3 percent globally or 6.2 percent if we exclude the Chinese market.

Global growth drivers are our all-electric vehicles and models from the upper premium segment, both of which saw a double-digit increase.

The Group EBT margin came in at 10.5 percent for the second quarter and 10.9 percent for the first half-year.

The Automotive EBIT margin reached 8.4 percent in the second quarter and 8.6 percent for the half-year, both within our full year target range of 8 to 10 percent.

Excluding the depreciation resulting from the purchase price allocation of BBA, the margins came in at 9.4 percent for the second quarter and 9.6 percent through six months.

Ladies and Gentlemen,

The BMW Group is committed to maintaining its strategic focus.

We have a clear plan and a long-term strategy that we are implementing systematically.

At the same time, we remain highly flexible in our execution and are able to respond swiftly to market developments.

This enables our operating business to deliver consistently good results.

SLIDE 4: BMW Group in Q2

Let’s take a look at the financial figures in the second quarter in more detail, starting with a brief overview of the Group.

BMW Group revenues were on par with the previous year.

Group earnings before tax totalled around 3.9 billion euros, resulting in a Group EBT margin of 10.5 percent.

SLIDE 5: Automotive Retail Units, BEV Units, Auto Revenue and Auto EBIT

On this slide you can see how the Automotive Segment performed across key figures.

In the second quarter, the BMW Group delivered approximately 619,000 BMW, MINI and Rolls-Royce vehicles to customers.

The BMW brand reported sales growth of 2.2 percent.

MINI, on the other hand, saw a significant decrease from the previous year, due to the planned model changeover across the entire product range.

However, in the second half of the year, the brand will benefit from the ramp-up of the New MINI Family, with the Countryman* and Cooper*, both available in several drivetrains, as well as the all-electric Aceman*.

We continue to see sales growth of our all-electric vehicles.

The BMW Group delivered about 108,000 BEVs to customers in the second quarter. This represents 17.4 percent of our total sales.

Our electrified vehicles – in other words, BEVs, plus plug-in hybrids – accounted for almost 24 percent of total sales in the second quarter.

Segment revenues increased slightly by 1.4 percent.

Adjusted for currency translation effects, revenues saw an increase of 2.1 percent.

The significant growth in all-electric vehicles and models from the upper premium segment contributed to this. The current trend is also expected to have a positive effect on revenues for the remainder of 2024.

Revenue per wholesale unit across the entire product portfolio is expected to be in line with last year’s level.

EBIT for the period from April to June totalled 2.7 billion euros.

The EBIT margin came in at 8.4 percent for the quarter and 8.6 percent for the half-year.

Excluding the depreciation resulting from the purchase price allocation of BBA, the EBIT margin was 9.4 percent for the second quarter and 9.6 percent through six months.

That brings me to the EBIT bridge, to explain in more detail the changes in the operating result, compared to the second quarter of the previous year.

SLIDE 6: Automotive Segment EBIT in Q2

The net balance of currency and commodity positions provided a tailwind of 500 million euros over last year’s second quarter.

For the full year 2024, we anticipate a positive net balance from currency and commodity positions.

This is expected to nearly offset material cost headwinds. However, we see additional requests for supply chain support.

The net balance of volume, model mix and pricing effects in the second quarter was about 300 million euros lower year-on-year.

Volume development and the model mix made a positive contribution to this.

The global price environment for new and used cars continued to normalise in the second quarter.

The Chinese market, in particular, remains highly competitive.

For the full year 2024, we expect the net effect from volumes, model mix and prices to be neutral over last year.

Research and development expenses increased by about 100 million euros compared to the prior-year quarter.

The BMW Group's research and development expenditure remained at a high level through the end of June, totalling almost 4.2 billion euros.

The R&D ratio according to the German Commercial Code was at 5.7 percent after the first six months.

The capitalization ratio for development costs, which is relevant for R&D costs according to IFRS, was 34 percent in the second quarter and 30.8 percent as of June.

Selling and administrative expenses increased by around 100 million euros compared to the previous year, primarily driven by personnel costs and expenses for IT projects.

The headwind of 200 million euros from Other Cost Changes can mainly be attributed to manufacturing costs. Here, inflation in material costs continues to have an impact.

SLIDE 7: Automotive Segment Free Cash Flow in Q2

Free cash flow in the Automotive Segment totalled 1 billion euros in the second quarter.

The change in working capital, amounting to 500 million euros, is largely due to the planned increase in inventory levels. This ensures we can continue to meet global demand for our products in the second half of the year.

The net effect from capital expenditure and depreciation reduced free cash flow by 400 million euros in the second quarter.

Total investments for April to June amounted to around 2.6 billion euros.

The capex ratio came in at 5.8 percent for the second quarter and 4.7 percent for the half-year.

As in the previous years, the major share of capital expenditure will occur in the second half of the year and especially in the fourth quarter.

We expect a capex ratio of more than six percent for the full year.

Changes to provisions positively impacted free cash flow in the second quarter by around 100 million euros.

The change in the position Other of around 800 million euros mainly reflects regular tax payments.

After the first six months, Automotive Segment free cash flow had reached just over 2.3 billion euros.

The difference in free cashflow compared to 2023 is due to the capex increase of around 1 billion euros.

We expect to see a positive contribution from a reduction in working capital.

For the full year, we are targeting a free cash flow of over six billion euros.

Since 2022, we have made a paradigm shift in our shareholder return strategy by adding a share buyback programme that supplements our annual dividend payout.

In doing so, we have increased the payout ratio of Automotive Free Cashflow by paying dividends in our target corridor of 30 to 40 percent as well as using the share buyback program.

BMW AG is continuing with its share repurchase programme as planned. At the end of June, it had acquired shares equivalent to 5.51 percent of the existing share capital as of June 30th.

The second tranche of the second programme, totalling 500 million euros, was completed in June.

The third tranche of 500 million euros, which began in June, will be concluded no later than December 31st.

By the end of 2024, BMW AG will have repurchased shares valued at 1.5 billion euros as part of the second programme, which amounts to 2 billion euros.

SLIDE 8: Net Financial Assets

Ladies and Gentlemen,

The BMW Group has a solid and robust balance sheet, confirming the company's considerable financial strength.

This is also underscored by our net financial assets in the automotive business, which totalled just over 43 billion euros.

Starting with the Half-Year Report 2024, we are changing the way we report net financial assets in our automotive business.

In addition to the Automotive Segment’s NFA that was previously reported, the new figure also includes the NFA of holding companies within the Other Entities Segment, which receive regular distributions from their subsidiaries.

I trust that this new, comprehensive definition of Net Financial Assets provides you with useful additional information.

SLIDE 9: Financial Services Segment in H1

Let’s move on to the Financial Services Segment.

Here, the positive trend in new business continues – for financing of both new and used vehicles.

A total of about 850,000 new leasing and credit financing contracts were concluded in the first half-year. This represents a significant increase of 16.5 percent year-over-year.

The volume of new business, encompassing all new credit financing and leasing contracts, climbed 18.2 percent to around 32 billion euros.

This positive development in new business is also reflected in the portfolio. The total value of all contracts managed surpassed 143 billion euros for the first time.

Segment earnings amounted to just under 1.5 billion euros. This year-on-year decrease of 13.1 percent resulted mainly from lower income from the resale of end-of-lease vehicles, which reflects the continued normalisation of the used car market.

During the reporting period, the credit loss ratio for the entire credit portfolio was 0.25 percent (2023: 0.15 percent).

The segment’s overall business performance was better than anticipated. For this reason, we are raising our full-year guidance for Return on Equity (RoE) from a range between 14 and 17 percent to a range between 15 and 18 percent.

SLIDE 10: Motorcycles Segment in Q2

In the Motorcycles Segment, second-quarter deliveries increased by 2.6 percent compared to the prior-year quarter.

EBIT in the second quarter totalled 110 million euros, with an EBIT margin of 11.1 percent.

SLIDE 11: Outlook 2024

Ladies and Gentlemen,

the BMW Group is on course to meet its targets for the year.

The market development in China in the first half of this year has not met our expectations.

We expect that the various measures taken by the government, including the cut in lending rates in July, will lead to a stabilisation of the market starting in the third quarter.

Our overall business environment will remain challenging throughout the rest of the year.

Our guidance assumes that geopolitical and macroeconomic conditions will not deteriorate.

Group earnings before tax will decrease slightly.

We expect to see a slight increase in demand, with sales in the Automotive Segment slightly higher than the previous year. The percentage of all-electric vehicles will increase significantly.

We are targeting an EBIT margin between 8 and 10 percent and a Return on Capital Employed (RoCE) between 15 and 20 percent.

Deliveries are projected to increase slightly in the Motorcycles Segment. The EBIT margin should come in between 8 and 10 percent, with a Return on Capital Employed (RoCE) between 21 and 26 percent.

In the Financial Services Segment we are now forecasting a Return on Equity (RoE) in the range of 15 to 18 percent for the full year.

SLIDE 12: BMW Group with Consistent Strategy and Focused Execution

Ladies and Gentlemen,

The BMW Group is pursuing a clear strategic approach, focused on long-term success.

Our company maintains a globally balanced footprint. We are leveraging this balance and the high flexibility of all our systems to mitigate market volatility and consistently provide our customers with the best products to suit their needs.

We continue to systematically implement our electrification and digitalisation strategy and make targeted investments in our future model line-up.

In 2024, we are setting a decisive course for our future. Research and development spending and capital expenditure will therefore respectively peak, as planned.

We expect our R&D ratio for the full year to exceed five percent, with a capex ratio of more than six percent.

Despite these high upfront investments, we were still able to deliver a solid financial performance in the second quarter, thanks to our attractive product range.

Across global markets, we are carefully steering our performance in line with individual market conditions.

At the same time, we are maintaining a high level of cost discipline.

Whether manufacturing costs, fixed costs, or capital expenditure: at the BMW Group, we have always constantly optimized our cost structures and will continue to do so.

I am confident that our clear long-term strategy, combined with focused execution in our operational business, will keep us competitive and successful – both now and in the future.

Thank you.

- Check against delivery –

Ladies and Gentlemen,

In the past few days, several automotive manufacturers have released their half-year results: A glance at the numbers shows just how differentiated our industry is.

The basic principles are the same for everyone – which reveals even more clearly how different strategic approaches are performing in the current environment. All those who are broadly diversified are reaping the benefits.

Our own ambitions are underlined by the first six months: In the face of headwinds, we can capitalise on our competitive strength in the market.

In the first half of 2024, BMW Group deliveries were at the same high level as the previous year. Our core BMW brand is growing.

In terms of financial performance, we also deliver consistently high profitability.

For the past ten consecutive quarters, our EBIT margin in the Automotive Segment has been within our strategic target range of eight to ten percent, or higher.

At 10.9 percent, the Group EBT margin once again outperformed our strategic target of 10 percent.

Above all, our all-electric vehicles and models in the higher-priced upper segments of our BMW and BMW M brands remain in very high demand.

In our view, e-mobility will continue to be the core drive technology of the future and our primary growth driver.

We anticipated this development early – which is why we have one of the most comprehensive and attractive EV portfolios in the marketplace today. We already offer at least one BEV model in nearly every segment that is relevant for us.

This wide-ranging offering lays the foundation for our continued dynamic growth in BEVs – even in the current more challenging market environment.

In absolute terms, BMW comes in a strong third in electric vehicle sales among all OEMs worldwide.

Our impressive performance in ramping up electromobility becomes even clearer when we look at the rate of growth in the first half of the year.

With growth of 34 percent, the BMW brand is number one worldwide among all relevant major players.

Take the example of the BMW X1, a customer favourite, and our luxury sedan, the new BMW 7 Series: In the case of both vehicles, one in five customers is already opting for the all-electric iX1* or i7* variant.

In the first half of 2024, our fully-electric sport coupé, the
BMW i4*, remained our line-up's best-selling electric vehicle – once again posting double-digit growth.

I have emphasised many times that following the hype without careful consideration is not a strategy. Emotionality and nervousness have never been good counsellors.

Our strategy is grounded in facts, experience and a continuous, realistic assessment of the current situation. It has proven robust – especially in turbulent times.

The approach to drive technologies rooted in this strategy makes us resilient and secures our market success.

With our globally aligned, highly flexible production network, we are capable of responding to fluctuations in demand better than others.

Supply chain management is increasingly critical to success.

We have established processes to identify risks in our supplier network at an early stage. This enables us to take action before a risk becomes an issue. We have not had any major impact recently.

This also ensures that we can respond to regional differences in customer preferences as needed – whether for cars with internal combustion engines, plug-in hybrids or BEVs.

As a result, we have consistently outperformed EU CO2 requirements for years.

One thing is clear: The most impactful contributions to climate protection are those we can make today: In other words, every tonne of CO2 we can save today – not sometime in the future – counts.

This also entails demanding and promoting the use of low-CO2 fuels like e-fuels, E 25 or HVO100 – as quickly and as widely as possible.

These fuels could immediately improve the carbon footprint of the existing fleet of more than 250 million vehicles in the European Union.

At the moment, however, we see a significant risk of eFuels being politically instrumentalised in the debate about the ban on combustion engines from 2035.

There are currently many indications that the EU Commission is striving for a bogus solution in which the ban on combustion engines is relaxed simply by ostensibly opening up to eFuels.

However, if it then does nothing to accelerate the ramp-up of low-CO2 fuels and make their use practicable, this would be a deliberate ban on combustion engines through the back door.

We continue to believe that a categorical ban on combustion technology is wrong. And we are also publicly committed to our highly efficient engines and plug-in hybrid technology, such as that used in our new BMW X3.

As a hybrid version, the high-volume X3 enables locally emission-free premium mobility well beyond city traffic.

The new X3 will be released onto the market in the fourth quarter – initially in the US and Europe.

You all know how popular our X models are. Last year, the current X3 was the best-selling model across our entire BMW product range.

When the all-electric NEUE KLASSE ramps up at our specially-built plant in Debrecen in late 2025, it will initially launch with an X model. This will be followed soon afterwards by a sporty sedan from Plant Munich.

With the NEUE KLASSE, our aim is to once again expand our technology leadership. Preparations are in full swing and progressing according to plan – despite the challenging conditions.

Our technology clusters allow us to quickly deploy the technologies of the NEUE KLASSE across our entire vehicle portfolio – elevating it to a whole new level, regardless of the drive technology.

Mastering this degree of integration and executing it efficiently are highly complex tasks. This is precisely where future competitiveness will be decided in our industry.

It is why we continue to focus on optimising interaction between all technologies – creating a holistic mobility experience for all our customers.

Our automated driving functions provide a good example of our technological edge.

A few weeks ago, we released a world first onto the market: We are the first automotive manufacturer to offer the combination of Level 2 and Level 3 driver assistance systems exclusively in Germany in the new 7 Series.

We have already obtained Level 2+ approval for numerous BMW models in the US, Canada and – making this another field where our technology clearly sets us apart. We will solidify this leading position with the NEUE KLASSE.

Ladies and Gentlemen,

The automotive industry is a major driver of the global economy – which increasingly makes it the focus of geopolitical interests.

The issues range from growing regulation to protectionist measures in the major economic areas of the US, China and the European Union.

We are seeing global competition for raw materials and access to strategically critical technologies, such as high-voltage batteries and semiconductors, as well as advancements in AI applications.

Each region and individual state is seeking to protect its own economic interests. This also includes localising the entire automotive value chain, including supply chains.

At the BMW Group, we remain committed to open markets and opposed to artificial barriers such as punitive tariffs.

The introduction of additional import duties, like those recently imposed by the EU, leads us down a dead-end street – and will ultimately not make European manufacturers any more competitive.

On the contrary, EU tariffs on BEVs from China instead penalise European manufacturers like the BMW Group – since they also produce vehicles in China for the European market.

Additional customs duties also limit the choice of electric cars for European customers and could therefore slow down decarbonisation in the transport sector.

Measures always lead to countermeasures. Let us not forget that implementation of the Green Deal in Europe also relies heavily on raw materials and technology from China, in particular.

Ladies and Gentlemen,

The BMW Group cannot entirely escape current market and geopolitical developments. However, with our long-term, yet flexible strategy, we are in the driver's seat.

We adapt quickly and effectively as conditions evolve.

We see no reason for hasty action or fundamental course adjustments.

We will continue on our path in the future. That means, sometimes we do things differently – but always out of conviction, not merely on principle.

This is what makes us strong and successful in the long term.

The fact of the matter is: The automotive industry will remain a growth sector in the future – and we intend to make sure the BMW Group in particular benefits from it.

Thank you.

Munich. Over a two-year period culminating in 2025, BMW Group Classic will have certified more than 20 Swiss BMW, BMW Motorrad and MINI retailers as BMW Group Classic partners.

The main criteria for successful certification as a BMW Group Classic partner are possessing the necessary expertise in historic BMW, BMW Motorrad and Mini vehicles and holding a suitable range of specialist tools for maintaining vintage vehicles and recent classics produced by BMW and Mini (from R50). Ensuring employees have the right level of training is a basic prerequisite for meeting customer requirements. Relevant training measures will be offered.

Customers looking for a BMW Group Classic partner to maintain, repair, restore or look after their historic vehicles can take advantage of the range of services traditionally available in Munich, but now also provided by specialists locally.

The support provided by BMW Group Classic headquarters in Munich for the local partners spans its full range of services, from assistance with technical issues, via help with procurement of replacement parts and remanufacturing of specialist tools, to provision of specific data/information from the BMW Group Archive and elsewhere.

The process of certifying BMW Group authorised retailers and workshops as BMW Group Classic partners began in 2019, and the number of international partners now stands at 148.

Bringing the history of the BMW Group to life and helping to shape the future are established pillars of BMW Group Classic strategy. 

To celebrate the certification of the new BMW Group Classic partners, a large-scale event – featuring a host of iconic vehicles from BMW history and some of the company’s latest new products – will take place at the BMW Group Brand Experience Center in Dielsdorf on 10 August 2024. This day-long event, with its richly varied programme, will give visitors the chance to meet BMW Group Classic and its local partners and explore what they have to offer.

Munich / Goodwood. The new BMW M5 (energy consumption weighted, combined: 1.7 – 1.6 l/100 km [166.2 – 176.6 mpg imp] and 25.5 – 25.0 kWh/100 km in the WLTP cycle; CO₂ emissions weighted, combined: 39 – 37 g/km in the WLTP cycle; fuel consumption with discharged battery: 10.3 – 10.2 l/100 km [27.4 – 27.7 mpg imp] in the WLTP cycle; CO₂ classes: weighted, combined B, with discharged battery: G) is ready to race, as it will demonstrate in the legendary hill climb at the Goodwood Festival of Speed 2024. This storied event taking place in the English county of West Sussex is therefore the ideal occasion for the world premiere of the high-performance sedan in its seventh generation. The new BMW M5 will be making its first public appearance as part of a spectacular line-up of vehicles that also includes the BMW M Hybrid V8 prototype endurance racer, the new BMW M4 CS (fuel consumption, combined: 10.2 l/100 km [27.7 mpg imp]; CO₂ emissions, combined: 232 g/km in the WLTP cycle, CO₂ class: G) and an array of classic machines from the motor sport history of BMW and BMW Motorrad.

With its M HYBRID system, the new BMW M5 is ideally equipped to post an impressive performance over the 1.86-kilometre (1.16-mile) hill climb. For the first time in the 40-year history of the high-performance sedan, an electrified drive system is on hand to provide instantaneous power development and imposing muscularity. The combination of a high-revving V8 engine with M TwinPower Turbo technology and the latest-generation electric motor generates system output of 535 kW/727 hp and peak torque of 1,000 Nm (737 lb-ft). This fresh approach to delivering the performance profile for which M cars are renowned teams up with bespoke chassis technology and the M xDrive all-wheel-drive system to deliver a performance experience of rare magnetism and allure.

The new BMW M5 will be unveiled at BMW’s trackside stand on Thursday, 11 July 2024 as an early highlight of the four-day event. The new BMW X3 will also celebrate its world premiere at the Goodwood Festival of Speed 2024. Now in its fourth model generation, the Sports Activity Vehicle (SAV) impresses not only with its visually striking design and innovative digital technology, but also with significantly enhanced agility and dynamic prowess. This increase in sporting appeal is embodied most prominently by the BMW X3 M50 xDrive (fuel consumption, combined: 8.3 – 7.7 l/100 km [34.0 – 36.7 mpg imp]; CO₂ emissions, combined: 189 – 175 g/km in the WLTP cycle; CO₂ classes: G – F), which will be presented at the Festival of Speed. The new range-topping variant of the X3 – a model series first launched 20 years ago – is fitted with the most powerful six-cylinder in-line petrol engine ever assigned to an M Performance model. The 3.0-litre unit joins forces with 48V mild hybrid technology to produce maximum output of 293 kW/398 hp.

The Hill beckons: BMW lines up with new machinery, racing legends and famous drivers and riders.

The races up the famous hill in the Duke of Richmond’s Goodwood estate will provide the Festal of Speed programme with some spectacular highlights once again this year. Demo runs featuring cars and motorcycles from a wide range of eras bring to mind the private hill climb held for the first time in 1936 in the grounds of Goodwood House. Among the members of the current BMW M GmbH portfolio set to take the Hill by storm alongside the new BMW M5 are the special-edition BMW M4 CS and BMW XM Label Red (energy consumption weighted, combined: 2.0 – 1.6 l/100 km [141.2 – 176.6 mpg imp] and 33.5 – 32.5 kWh/100 km in the WLTP cycle; CO₂ emissions weighted, combined: 45 – 35 g/km in the WLTP cycle; fuel consumption with discharged battery: 12.9 – 12.3 l/100 km [21.9 – 23.0 mpg imp] in the WLTP cycle; CO₂ classes: weighted, combined B, with discharged battery: G). And the latest endurance racing car from BMW M Motorsport, the BMW M Hybrid V8, will also be let loose in the unfamiliar surroundings of a hill climb sprint.

BMW Group Classic’s historic motor sport department will also bring a host of legendary vehicles and well-known drivers and riders to the event. Leading the way will be the BMW V12 LMR, which celebrated overall victory in the Le Mans 24-hour race in 1999. Franciscus van Meel, CEO of BMW M GmbH, will get behind the wheel on the 25th anniversary of this famous win. 55 years have now passed since Dieter Quester was crowned European touring car champion in a BMW 2002 TIK. This was the first championship title claimed by a BMW with a turbocharged engine. Piloting the 2002 TIK in the hill climb at this year’s Festival of Speed will be BMW Group Classic brand ambassador Prince Leopold of Bavaria. And memories of great victories will also be rekindled for legendary BMW touring car driver Johnny Cecotto: 30 years on from winning the Super Touring Car Cup, he will be reunited with his BMW 318i STW at Goodwood.

BMW Group Classic will compete in the hill climb events for motorcycles with a pair of historic racing bikes. The BMW RS 54 from the 1950s will be joined by a meticulously restored replica of the BMW R 255/1 with supercharged engine. In 1939, Georg “Schorsch” Meier rode a R 255/1 to victory in the Senior Tourist Trophy on the Isle of Man, becoming the first foreign rider to do so on a non-English bike. Among the riders lining up on these historic models will be Markus Flasch, Head of BMW Motorrad, who will also be piloting the BMW R20 concept through the twists and turns of the course. The latest concept bike from BMW Motorrad was unveiled to the public for the first time just a few weeks ago at the Concorso d’Eleganza Villa d’Este. Its design places the new 2.0-litre Big Boxer engine at centre stage, and the hill climb will now also provide it with the platform to showcase its power development and acoustic charms.

New models, one-off creations, concept cars and Vision Vehicles among the attractions at trackside.

Visitors to the Festival of Speed 2024 will be greeted by alluring examples of design, dynamism and innovation away from the track as well as on it. Among the models on show at the BMW M GmbH trackside stand will be the new BMW M135 xDrive (fuel consumption, combined: 8.1 – 7.6 l/100 km [34.9 – 37.2 mpg imp]; CO₂ emissions, combined: 184 – 173 g/km in the WLTP cycle; CO₂ classes: G – F), the new BMW M2 (fuel consumption, combined: 10.2 – 9.6 l/100 km [27.7 – 29.4 mpg imp]; CO₂ emissions, combined: 231 – 218 g/km in the WLTP cycle, CO₂ class: G) and the BMW M3 Touring (fuel consumption, combined: 10.4 – 10.3 l/100 km [27.2 – 27.4 mpg imp]; CO₂ emissions, combined: 235 – 233 g/km in the WLTP cycle, CO₂ class: G).

In honour of designer Marcello Gandini, who passed away in spring this year, BMW Group Classic will also be presenting the BMW Garmisch. This coupé is a rebuild of a concept car that Gandini had designed for coachbuilder Bertone but that then vanished without trace following its premiere at the 1970 Geneva Motor Show.

The vehicles on display at the Stable Yard will also include the BMW Vision Neue Klasse – which offers a look ahead to the upcoming generation of fully electric models from BMW – and the BMW i5 Flow NOSTOKANA, a one-off design whose exterior displays motifs from South African artist Esther Mahlangu using innovative colour-change technology. Also produced in just a single example so far, the BMW Concept Skytop has an exclusive blend of aesthetic appeal and dynamic potency. This design study is making only its second ever public appearance, following on from its world premiere at the Concorso d’Eleganza Villa d’Este. An open-top two-seater, the BMW Concept Skytop symbolises the joy of luxury travel. With design details recalling classic models like the BMW Z8 and BMW 503 and a super-powerful V8 from BMW’s current engine line-up, it bridges the past and the present in hallmark Festival of Speed style.

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.

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 und 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

Johannes Lacher, Product Communication BMW Automobiles

Telephone: +49-89-382-23051

E-mail: Johannes.Lacher@bmw.de

Christian Pomp, Product Communication BMW Automobiles

Telephone: +49-89-382-77770

E-mail: Christian.Pomp@bmw.de

Alexandra Landers, Head of Product and Brand Communication BMW

Telephone: +49-89-382-30871

E-mail: Alexandra.Landers@bmw.de

Marc Thiesbürger

Spokesperson BMW Group Classic

Telephone: +49-151-601-76534

E-mail: Marc.Thiesbuerger@bmwgroup.com

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

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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.

Aktuelles Foto- und Videomaterial finden Sie zum Download auf dem BMW Group Classic Media Server:
https://www.bmwgroupclassic-downloads.com/Events

München / Cernobbio. Wir alle blicken zurück auf ein Wochenende voll spektakulärer Automobile ihrer Zeit. Das traumhafte Flair des Grand Hotel Villa d´Este am Comer See bot die perfekte Bühne, um die Magie der Mobilität bei der diesjährigen Ausgabe des Concorso d´Eleganza in ihrer ganzen Vielfalt zu erleben. Das weltweit wohl exklusivste und traditionsreichste Festival für Automobile begeisterte vom 24. Mai bis 26. Mai zahlreiche Besucher. 

Unter den Teilnehmern der acht glamourösen Klassen kürte die Jury am Ende einen strahlenden Sieger. Mit dem Alfa Romeo 8C 2300 gewann ein Spider im Karosseriedesign von Figoni aus den 1930er Jahren. Dem stolzen Besitzer der HM Collection aus Belgien überreichten Helmut Käs, Leiter der BMW Group Classic und Präsident des Concorso d‘Eleganza Villa d´Este, und Wilhelm Schmid, CEO von A. Lange und Söhne, am Sonntag den prestigeträchtigen Siegerpreis Trofeo BMW Group – Best of Show. Neben der schillernden Trophäe erhielt der durch die Jury auserkorene Gewinner auch ein einzigartiges Modell der 1815 Chronograph in Weißgold. Die exklusive Uhr wurde von A. Lange und Söhne für den Sieger des Best of Show kreiert.

Diesjähriger Gewinner des per Publikumsentscheid gewählten Coppa d´Oro Villa d ´Este wurde der McLaren F1 aus dem Jahr 1995. Mit dem Fahrzeug von Tony Vassilopoulos aus Großbritannien überzeugte ein überaus erfolgreiches Supercar die Besucher am stärksten.

Der BMW Group Cocktail eröffnete das offizielle Programm auf glamouröse Weise mit der Präsentation des 20. BMW Art Car, entworfen von Julie Mehretu. Zum Auftakt einer festlichen ersten Nacht präsentierte BMW zwei atemberaubende Weltpremieren: das BMW Concept Skytop, das von seinen historischen Vorfahren, dem
BMW Z8 und dem BMW 503, beeinflusst wurde sowie das BMW R 20 Konzept, eine kühne Hommage an den Big Boxer Roadster von BMW Motorrad. Rolls-Royce feierte nicht nur das 120-jährige Jubiläum der Marke mit einer historischen Klasse im Rahmen des Concorso d´Eleganza Villa d´Este, sondern präsentierte mit dem
Rolls-Royce Cullinan Series II auch eine innovative Weiterentwicklung des führenden Luxus-SUV.

An beiden Publikumstagen konnte die BMW Group Classic die breite Öffentlichkeit begeistern. Bei Wheels & Weisswürscht – Amici & Automobili am Samstag kamen zahlreiche BMW Automobilclubs sowie Clubs anderer Marken aus Nord- und Mitteleuropa zusammen. Gemeinsam zelebrierten sie mit über 150 Modellen die automobile Vielfalt unterschiedlicher Marken von den 1930ern bis heute.

Der Concorso d´Eleganza Villa d´Este Public Day – il Festival zog mit zahlreichen Highlights knapp 12.000 Besucher an und war bereits am frühen Nachmittag ausverkauft. In der Rotunde im Park der Villa Erba präsentierte die BMW Group neben dem 20. BMW Art Car von Julie Mehretu weitere ikonische BMW Art Cars mit Le Mans
Rennhistorie. Zum 25. Jubiläum war der sportlich elegante BMW Z8 am Ufer des Comer Sees ein wahrer Publikumsmagnet. Auf der BMW Group Innovation Isle informierte das Unternehmen über neue Antriebsformen und technologische Innovationen ihres aktuellen Modellportfolios.

Das Tribute to Marcello Gandini ehrte den erst kürzlich verstorbenen italienischen Maestro des modernen Automobildesigns. Junge Besucher und Spielefans konnten sich auf der Carrera-Bahn austoben sowie beim Sim Racing mit Profi Bruno Spengler ihr Können unter Beweis stellen. Darüber hinaus zelebrierte der Publikumstag mit der grandiosen Parade aller Fahrzeugklassen des Concorso d´Eleganza Villa d´Este 2024 die gemeinsame Faszination für Automobilität und schlug mit einer imponierenden Show die Brücke zwischen Vergangenheit und Zukunft.

Zum Abschluss der Parade am Sonntag übergaben Helmut Käs (Leiter BMW Group Classic und Präsident Concorso d´Eleganza), Carlotta Fontana (Vorstandsmitglied Villa d´Este) und Massimiliano di Silvestre (Präsident BMW Italien) die Einnahmen aus den Ticketverkäufen vom Samstag sowie eine zusätzliche Zuwendung der BMW Group Classic als Spende in Höhe von 50.000 € an Matteo Monti (Bürgermeister Cernobbio) für den kommunalen Kindergarten von Cernobbio.

„Mit dem Concorso d´Eleganza Villa d´Este 2024 zeigen wir die Faszination der Mobilität in allen ihren Facetten und verbinden dabei die ikonische automobile Vergangenheit mit der Gegenwart und Zukunft. Wir verstehen uns darin, nicht nur ein exklusives Ereignis zu kreieren, sondern insbesondere auch mit den Publikumstagen eine
Veranstaltung für alle Liebhaber historischer Automobile zu schaffen“, erklärt Helmut Käs (Leiter BMW Group Classic und Präsident Concorso d´Eleganza Villa d´Este).

„Die Villa d'Este ist stolz darauf, die zeitlose Eleganz, die Klasse und die Leidenschaft für Automobile zu ehren, die den Concorso d'Eleganza seit 1929 auszeichnen. Der Erfolg der Veranstaltung liegt in den einzigartigen Fahrzeugen, die präsentiert werden, aber auch in den Emotionen und der Leidenschaft, die Generationen von Autoliebhabern teilen. Wir bedanken uns bei der BMW Group für die langjährige Partnerschaft und die gute Zusammenarbeit mit
der Villa d'Este“, sagte Davide Bertilaccio (CEO Villa d´Este Hotels).

Schon jetzt freuen wir uns, Sie im nächsten Jahr erneut am Comer See begrüßen zu dürfen. Bis es so weit ist und wir erste Details zur nächsten Edition verkünden können, laden wir Sie ein, alle Highlights des Concorso d´Eleganza Villa d´Este 2024 unter www.concorsodeleganzavilladeste.com noch einmal Revue passieren zu lassen. Natürlich können Sie auch auf unseren Instagram- und Facebook-Kanälen in Erinnerungen schwelgen.

Die vollständige Siegerliste entnehmen Sie bitte der angefügten Datei.

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

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

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

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

- Check against delivery –

Ladies and Gentlemen,

The figures for the first quarter of 2024 underline once again that: Our strategy for long-term, profitable growth is robust and effective – especially in the dynamic environment in which we operate.

These conditions are the same for all players within our industry. However, there are currently three distinct groups of commercial actors, each with their own approach.

1. The newcomers: the ones who generate a lot of hype with single products. They often have only individual technological highlights, such as maximum performance, the largest range or the largest screen. 
It remains to be seen whether the overall package will meet high customer expectations, especially in the premium segment, over the entire lifecycle.
Additionally, they face the challenge of managing complexity as they scale up and expand. Market entry is also bought with aggressive price positioning.

2. Then, there are the established manufacturers, who are trying to copy these new players’ approach, but run the risk of losing their own identity.

3. And, finally, there are a number of manufacturers who are struggling to keep pace with change – and therefore remain entrenched in their traditional business models.

In this competitive space, the BMW Group continues to chart its own, balanced course.

And we remain true to ourselves.

We analyse and anticipate both current and future trends without prejudging the outcome. From this, we develop our strategic approaches. The ability to respond to market developments, customer needs and new technological approaches is essential.

This has earned us a leading position in e-mobility and, at the same time, allowed us to maintain consistently high profitability, even in a volatile environment.

For nine quarters in a row, our EBIT margin in the Automotive Segment has been within our target range of 8 - 10 percent or higher, like it was in the first quarter of 2023. Walter Mertl already explained the reasons for this.

Our development efforts are focused on technologies that deliver real added value for our customers. Decades of market experience have taught us what our customers want throughout the entire customer journey. We use this knowledge and our technological expertise to create the perfect overall concept.

This is not easy to replicate.

The BMW Group is also one of the few “true” global players in the automotive industry. From production, to sales, to suppliers – we are in a strong position in all major markets.

We have well established footprints in each region along with a local-for-local mindset.

This global approach is our greatest strength. It creates resilience, opens up opportunities and keeps us flexible.

We are building on this to leverage our business success – today and in the future.

A look at global regions shows that markets and customer demand continue to develop in a highly diversified way. Maintaining a presence in all major sales markets enables us to balance out these different trends.

Our unique BMW approach allows us to respond flexibly to changing demand, especially when it comes to drive technologies.

But let me be quite clear: We continue to ramp up e-mobility at a fast pace that our competitors can barely keep up with.

Just a few weeks ago, we hit an important milestone: Since the market launch of the BMW i3, we have delivered more than one million all-electric vehicles to customers. This confirms the appeal of our fully-electric product range.

This is also backed up by our current figures in the Chinese BEV market. With growth of more than 18% in China in the first quarter, BMW outperformed both the total market for electric vehicles and the electric premium segment.

This means: We are gaining segment share in the world’s biggest e-mobility market.

However, our success in China is not just evident from the numbers. The BMW Group is held in high regard there as a "local player".

I experienced this when I was part of the business delegation led by German Chancellor Olaf Scholz in April. And we were also very pleased that Premier Li Qiang took the time to visit the BMW Group stand at Auto China in Beijing.

We are confident about long-term economic prospects in China. We are therefore comprehensively preparing our joint venture BBA's production site in Shenyang for future vehicle models.

In late April, we signed a Memorandum of Understanding to this effect in Shenyang, for investments totalling around 2.5 billion euros.

Our highly diversified electric offering, across BMW, MINI and Rolls-Royce, is not just in demand in China, but worldwide.

With sales up by about 28 percent, fully-electric vehicles once again made an important contribution to the BMW Group's sales growth and earnings in the first quarter of 2024.

At Auto China, a few weeks ago, we presented two vehicles that will reinforce this trend:

the all-new fully-electric MINI Aceman* and an update to the electric BMW i4*.

The BMW i4 comes straight from the heart of the BMW brand and is a success story in its own right. People love its combination of e-drive, design and signature driving dynamics – all the things they associate with the BMW brand.

More than 80,000 customers bought a BMW i4 last year – making it one of the best-selling BEVs in the entire premium segment.

MINI is also continuing on a path that is just as brand-authentic and modern.

The “New MINI Family” is a real game changer that reimagines the brand's unique British heritage in an entirely new way for the future.

The all-electric MINI Aceman brings fresh impulses. With this latest addition, the New MINI Family now features three models that serve different segments and appeal to new customer groups.

This will enable us to continue and expand the MINI success story in our global markets.

Our growth and economic success today are laying a solid foundation for the future.

We are investing more than ever in developing new products, efficient technologies and automated driving functions, as well as in digitalisation.

As the biggest single investment in the history of the company, the NEUE KLASSE shows how we are redefining the BMW brand for the future.

From design, to drive trains, to totally new forms of digital interaction between human and machine – the NEUE KLASSE represents a massive leap into the future across virtually all fields of technology.

All future BMW models will benefit from this – regardless of their drive technology. In this way, we are able to ensure that our customers always have the latest technology on board.

The NEUE KLASSE will start out with a Sports Activity Vehicle and a sedan in the current 3 Series segment.

We provided a glimpse of what this future will look like for BMW at our Annual Conference.

The BMW Vision Neue Klasse and the BMW Vision Neue Klasse X showcase both the consistency and the breadth of the NEUE KLASSE.
There is plenty of room between the two vehicles for innovation and new models – and we intend to use it.

Ladies and Gentlemen,

The BMW Group is growing – despite the many different challenges we face. Even in times of change, we deliver positive financial results at a consistently high level.

The course we are charting today will enable us to build on this success in the future – across all our brands and products, with next-generation technologies and within the company.

We are in a strong position globally and maintaining our leadership of the global premium segment.

We recognise that there are a lot of new players looking to gain a foothold in this highly attractive segment – and, of course, we are taking this very seriously.

But this is not a one-way street. You can be sure of that: Every player in this industry, whether an ambitious newcomer or an established manufacturer, is also keeping a very close eye on the BMW Group.

- Check against delivery –

Ladies and Gentlemen,

Good morning,

SLIDE 2: BMW Group Quarterly Statement to 31 March 2024

The BMW Group had a successful start into 2024.

Both sales and earnings for the first quarter were in line with our expectations. This results from the focused implementation of our strategic priorities.

At the BMW Group, we have strong brands and attractive products, which create ongoing high demand and a profitable operational business.

SLIDE 3: Highlights of BMW Group Performance in Q1 2024

In the first three months, the BMW Group delivered just under 595,000 vehicles to customers. This is a slight increase of 1.1 percent over the same period of last year.

Our all-electric vehicles, in particular, made an important contribution, with growth of 27.9 percent.

If we look at the BMW brand alone, that number was 40.6 percent.

At the same time, sales of models in the upper premium segment also recorded significant double-digit growth of more than 21 percent.

The Group EBT margin for the first quarter came in at 11.4 percent, which is above our strategic target of 10 percent.

The EBIT margin in the Automotive Segment was 8.8 percent. This falls clearly within our target corridor of 8 to 10 percent.

Ladies and Gentlemen,

This quarter confirms once again that the BMW Group's operating business consistently delivers strong results.

We have a clearly defined long-term plan. And we have significant flexibility in our systems and processes. This allows us to adapt quickly to developments and take advantage of market opportunities.

On this basis, we expect to operate at a consistent level throughout 2024.

SLIDE 4: BMW Group in Q1

Let’s take a look at the financial figures for the first quarter in more detail.

I’ll start with a brief overview at Group level.

BMW Group revenues were on par with the previous year.

Group earnings before tax totalled around 4.2 billion euros, resulting in a Group EBT margin of 11.4 percent.

SLIDE 5: Automotive Retail Units, BEV Units, Auto Revenue and Auto EBIT

And now more details on how the Automotive Segment performed across key metrics.

In the first three months, the BMW Group delivered 595,000 BMW, MINI and Rolls-Royce vehicles to customers.

The BMW brand reported growth of 2.5 percent.

Due to the upcoming model changeovers MINI sales were down 9.4 percent from the previous year. The New MINI Family, comprising the Countryman*, the Cooper* and the Aceman*, will boost MINI sales – particularly in the second half of the year.

This sales development is also reflected in segment revenues. Adjusted for currency translation effects, revenues saw a slight increase of 1.5 percent.

Both the higher sales volume and positive product mix effects from the upper price segment and BEV contributed to the increase in revenues in Q1 2024.

This is expected to provide a tailwind for revenues also in the remainder of 2024.

Furthermore, prices across the product portfolio are expected to be in line with last year’s level.

The electrification of our product line-up continued to generate substantial sales momentum in the most recent quarter.

Almost 83,000 fully-electric vehicles were sold – or 13.9 percent of our total sales.

Taken together, BEV and plug-in hybrids accounted for about 21 percent of total sales in the first quarter.

EBIT for the period from January to March was 2.7 billion euros, with an EBIT margin of 8.8 percent.

This means that the first quarter of 2024 is in line with the consistent trend in profitability since the beginning of 2022.

Q1 2023 was exceptional, as the effects of inflation were not yet fully reflected in the operating result.

I will provide more details on the Q1 year-on-year development with the EBIT bridge.

SLIDE 6: Automotive Segment EBIT in Q1

Changes in commodity prices accounted for a positive impact of around 200 million euros. Currency effects remained neutral.

For the full year 2024, we anticipate a positive net balance from currency and commodity positions.

The net balance of volume, model-mix and pricing effects is about 300 million euros lower than for the first quarter of 2023.

Increase in volumes made a slight positive contribution.

The double-digit growth by models in the upper price segment almost entirely compensated the effect from the higher BEV share.

Starting with the second quarter of 2023, we began to see increased competition due to better availability of vehicles in the market. This led to a gradual softening of the global price environment for new and used cars, which has continued into the first quarter of 2024.

For the full year 2024, we expect the net effect from volume, mix and pricing to be slightly positive, as planned.

We expect additional momentum from models like the new BMW 5 Series, which is currently ramping up in markets across the globe. In China, it launched after the Lunar New Year holiday and has therefore only been in showrooms for a few weeks.

Full availability of the BMW 7 Series will also have a positive effect.

Moving on, we come to research and development expenses – which were 200 million euros higher than in the prior-year first quarter.

Based on Group R&D expenditure, the R&D ratio according to the German Commercial Code came in at 5.4 percent.

Our R&D activities remain focused on the electrification and digitalisation of our entire vehicle fleet. We are constantly developing attractive new models, like the NEUE KLASSE or the next generation of the BMW X5.

Sales and administrative costs were 100 million euros higher than the previous year. This is largely due to IT projects and the increase in personnel costs, which was implemented from the third quarter of 2023.

The headwind of 700 million euros from Other Cost Changes essentially results from two areas.

The first is manufacturing costs.

Sales margins in the first quarter of 2023 still benefitted from a lower level of purchasing prices in 2022.

This led to a positive EBIT effect in Q1 2023 as inventories with lower manufacturing costs were sold.

Starting in Q2 2023, we saw an elevation in costs that has carried through into Q1 2024.

Another reason for the difference in other cost changes is income from the resale of end-of-lease vehicles.

As expected, income was lower than in the first quarter of 2023, yet remains positive.

The normalisation we have been seeing in the used car market over the past twelve to fifteen months has gradually continued.

SLIDE 7: Automotive Segment Free Cash Flow in Q1

Free cashflow in the Automotive Segment totalled about 1.3 billion euros in the first quarter of 2024.

The difference to the first quarter of 2023 mainly results from the lower EBT.

Inventory levels rose during the first quarter, in line with planning. This contributed to the change in working capital, which amounts to 1.2 billion euros.

The increase in stock will ensure that we can service the expected customer demand.

The net effect from capital expenditure and depreciation also reduced free cash flow by 200 million euros.

Capital expenditure for January to March totalled around 1.3 billion euros. This was mainly allocated to new models and structures, with a clear focus on electrification and digitalisation as well as automated driving systems.

The capex ratio for the year to the end of March was 3.6 percent.

Changes in provisions and in the position other, such as tax payments, had no net impact on free cash flow.

In the first quarter of 2024, investments totalling 2.3 billion euros were made into future models and innovations. Nevertheless, the Automotive segment generated 1.3 billion euros in free cashflow.

For the full year, the BMW Group is targeting a free cashflow above 6 billion euros in the Automotive segment, despite the planned peak investments in R&D and capex in 2024.

The strong underlying free cashflow generation supports our ongoing and consistent shareholder return.

As part of the share buyback program BMW AG has acquired shares equivalent to 5.03 percent of the share capital in place on March 31st.

The second tranche of the second program with a volume of 500 million euros is currently in progress and will be completed no later than June 28th.

Currently we see no reason not to continue with tranche three immediately after conclusion of tranche two.

SLIDE 8: Financial Services Segment in Q1

In the Financial Services Segment, the positive trend in new business from the second half of 2023 continued through the first three months of 2024.

The number of new contracts concluded with retail customers increased significantly by 21.5 percent year-on-year to reach 422,000 contracts. Financing for both new and used vehicles contributed to this growth.

In line with this, the volume of new business grew by 22.1 percent to just over 15.6 billion euros.

Segment earnings for the first quarter amounted to 730 million euros – a decrease of 215 million from the previous year.

This can be attributed both to higher credit risk provisioning and the normalisation of income from the resale of lease returns.

The credit loss ratio across the entire loan portfolio remained at a low rate of 0.21 percent.

SLIDE 9: Motorcycles Segment in Q1

In the Motorcycles Segment, first-quarter deliveries decreased slightly by 3.1 percent year-on-year.

EBIT for the year to the end of March totalled 106 million euros, with an EBIT margin of 12.2 percent.

SLIDE 10: Outlook 2024

Ladies and Gentlemen,

After a successful first quarter, we expect the solid business performance to continue throughout the year 2024.

Therefore, our guidance for key performance indicators remains unchanged.

This is based on the assumption that geopolitical and macroeconomic conditions do not deteriorate.

Group earnings before tax are projected to decrease slightly.

In the Automotive Segment, we are planning for slight year-on-year sales growth – with the percentage of all-electric vehicles set to increase significantly.

We expect to see an EBIT margin of between 8 and 10 percent and a Return on Capital Employed (RoCE) of between 15 and 20 percent.

Sales should be slightly higher in the Motorcycles Segment, too. The segment's EBIT margin should come in at between 8 and 10 percent and Return on Capital Employed (RoCE) should be between 21 and 26 percent.

In the Financial Services Segment, we are targeting a Return on Equity (RoE) in the range of 14 to 17 percent for the full year.

SLIDE 11: BMW Group with Consistent Performance

Ladies and Gentlemen,

The BMW Group combines a robust financial performance in its current business with a long-term perspective for the future.

We have a range of highly attractive products in the market and we are continuously developing new models that will set the standard for driving experience, digitalisation and connectivity.

As planned for and previously announced, our research and development spending, and our capital expenditure, will respectively peak in 2024.

We expect our R&D ratio for the full year to be above 5 percent, and the capex ratio above 6 percent.

Our underlying profitability allows us to finance these investments in the future and at the same time yield attractive returns to our shareholders.

We continue to steer the company in line with our strategic priorities. And we deliver what we promise.

Our flexibility allows us to quickly adapt to market fluctuations and to meet customer demand across the globe.

This ensures that we capitalize on market developments and deliver strong results through consistent execution.

Thank you.

Munich/Cannes. BMW has signed up as Official Automotive Partner of the Cannes Film Festival for the third year in a row. This means visitors to the festival will once again be able to enjoy an exclusive shuttle service featuring luxury vehicles from the premium carmaker’s current range. BMW is also using its Cannes spotlight for a special vehicle presentation. Following the successful world premiere of the BMW Films production The Calm last year, BMW will now introduce a one-off creation based on the BMW XM as part of the creative collaboration with British supermodel Naomi Campbell.

Now in its 77th year, the prestigious Cannes Film Festival will once again attract a plentiful cast of filmmakers, actors and cinema lovers from all over the world to the Côte d’Azur on 14 – 25 May 2024. But the presentation of the coveted Palme d’Or is not the only show in town; during the festival, heads increasingly turn towards the lifestyle chic and glamour of the Croisette and many other Cannes hotspots. For premium brand BMW, the event therefore provides the ideal stage on which to exhibit its latest luxury-segment models to a discerning international audience.

To this end, organisers and guests alike will have locally emission-free premium mobility at their disposal. The exclusive fleet of shuttles chauffeuring the stars and VIPs over the roads around the Palais des Festivals et des Congrès will also be available to the festival organisers and some of its Official Partners. It includes more than 200 vehicles, among them the all-electric BMW i7, BMW iX and BMW i5, plus the BMW XM with plug-in hybrid drive system.

Creative collaboration with Naomi Campbell produces one-of-a-kind result.

BMW has extended the partnership with Naomi Campbell that it launched last year. The latest product of this creative collaboration is the BMW XM Mystique Allure. Inspired by the supermodel, this unique take on the XM will make a very special appearance in Cannes on 15 May.

The collaboration took its first steps last year with the “Dare to be You” launch campaign for the BMW XM. Alongside her successful catwalk career, Naomi Campbell has also established herself as an actor and creative visionary, and has become one of the most influential figures on the global fashion scene. Her commitment to increasing diversity in the industry has made her a standard-bearer for the next generation of up-and-coming talent in the creative and fashion worlds.

The BMW XM and Naomi Campbell: trailblazers specialising in visual extravagance.

An enduring pioneering spirit and the ability to project poise and confidence are attributes shared by Naomi Campbell and the BMW XM. With its iconic design language, an interior permeated by high comfort and the M HYBRID drive system making its debut in a series-produced model, the BMW XM creates a whole new level of connection between luxury and high performance.

The plug-in hybrid system’s electric motor teams up with either a muscular six-cylinder in-line engine or punchy petrol V8, depending on the model variant. 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 is the most powerful series-produced, road-legal car yet produced by BMW M GmbH.

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

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

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

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

San Luis Potosí. BMW Group Plant San Luis Potosí is gearing up for production of the Neue Klasse: Construction of a local high-voltage battery assembly has now begun, along with expansion projects for the body shop, assembly and logistics areas. A total of 800 million euros will be invested in expanding the Mexican production site.

The Neue Klasse will also be produced in Mexico from 2027 onwards. The Sports Activity Vehicle model will be launched at the new BMW Group Plant Debrecen in Hungary as the initial derivative of the Neue Klasse in late 2025, while the Sedan will ramp up in Munich in 2026. Just one year later, additional production capacity will be available in Mexico – initially, for the Sports Activity Vehicle. The future high-voltage battery assembly at Plant San Luis Potosí, covering an area of more than 80,000 square metres, is key to integrating the Neue Klasse at the production site.

“The battery assembly in San Luis Potosí will be part of our global production network. For our new sixth-generation e-drive alone, we are building five locations on three continents,” explained Milan Nedeljković, member of the Board of Management of BMW AG responsible for Production, at the start of construction in Mexico. The BMW Group is committed to the “local for local” principle worldwide. “Locating battery factories close to vehicle manufacturing makes production more resilient.”

Close links between battery factory and vehicle production

In line with its “local for local” principle, the BMW Group locates its high-voltage battery assembly facilities worldwide as close as possible to its vehicle plants. In addition to the location in San Luis Potosí, assembly sites for sixth-generation high-voltage batteries are also being built in Debrecen (Hungary), Shenyang (China), Woodruff, near Spartanburg (USA) and Irlbach-Straßkirchen (Lower Bavaria). This approach safeguards production, even in the event of unforeseen political and economic developments. Existing locations are also being strengthened, securing jobs. The short distances involved reduce the carbon footprint of vehicle production.

The BMW Group will use its newly developed round cells for the first time in the Neue Klasse. This leap in technology will boost the energy density of cells by 20 percent and improve charging speed by up to 30 percent. Range will be extended by 30 percent. 

Further development of Plant San Luis Potosí

As well as integrating battery assembly, other changes are being made at Plant San Luis Potosí: Just under 20,000 square metres will be added to the body shop, resulting in a total area of over 90,000 square metres. Assembly and logistics areas are also being expanded by almost 10,000 square metres.

“With this further development of our site, we are also gearing up in Mexico for the launch of the next BMW model generation. As the first premium OEM producing fully-electric vehicles and high-voltage batteries in Mexico, we are at the forefront of our industry and, at the same time, continuing to reduce our environmental footprint,” said Harald Gottsche, president and CEO of BMW Group Plant San Luis Potosí.

Photovoltaic output to double

When it comes to efficient energy supplies, the BMW Group uses site-specific solutions at its locations around the world. “In Mexico, we are planning to expand the photovoltaic systems within the plant, to double the output from the solar panels,” said Nicole Haft-Zboril, Head of Real Estate Management at the BMW Group. “The plan is to generate more than 20 percent of the electricity we need at the moment – directly on the factory premises.” The wastewater treatment plant has also been expanded, with an investment of 3.3 million euros significantly increasing the reuse of treated wastewater.

Extensive skills development programme

BMW Group Plant San Luis Potosí is also stepping up its commitment to skills development, aimed at ensuring employees are highly qualified and prepared for the challenges of the future. Training will include topics such as safety awareness around production of high-voltage systems and the use of robotics in manufacturing processes.

The BMW Group plant in San Luis Potosí started production in 2019. Around 3,700 employees currently produce the BMW 3 Series Sedan as well as the BMW 2 Series Coupé and the BMW M2 models for the global market.

San Luis Potosí. BMW Group Plant San Luis Potosí is gearing up for production of the Neue Klasse: Construction of a local high-voltage battery assembly has now begun, along with expansion projects for the body shop, assembly and logistics areas. A total of 800 million euros will be invested in expanding the Mexican production site.

The Neue Klasse will also be produced in Mexico from 2027 onwards. The Sports Activity Vehicle model will be launched at the new BMW Group Plant Debrecen in Hungary as the initial derivative of the Neue Klasse in late 2025, while the Sedan will ramp up in Munich in 2026. Just one year later, additional production capacity will be available in Mexico – initially, for the Sports Activity Vehicle. The future high-voltage battery assembly at Plant San Luis Potosí, covering an area of more than 80,000 square metres, is key to integrating the Neue Klasse at the production site.

“The battery assembly in San Luis Potosí will be part of our global production network. For our new sixth-generation e-drive alone, we are building five locations on three continents,” explained Milan Nedeljković, member of the Board of Management of BMW AG responsible for Production, at the start of construction in Mexico. The BMW Group is committed to the “local for local” principle worldwide. “Locating battery factories close to vehicle manufacturing makes production more resilient.”

Close links between battery factory and vehicle production

In line with its “local for local” principle, the BMW Group locates its high-voltage battery assembly facilities worldwide as close as possible to its vehicle plants. In addition to the location in San Luis Potosí, assembly sites for sixth-generation high-voltage batteries are also being built in Debrecen (Hungary), Shenyang (China), Woodruff, near Spartanburg (USA) and Irlbach-Straßkirchen (Lower Bavaria). This approach safeguards production, even in the event of unforeseen political and economic developments. Existing locations are also being strengthened, securing jobs. The short distances involved reduce the carbon footprint of vehicle production.

The BMW Group will use its newly developed round cells for the first time in the Neue Klasse. This leap in technology will boost the energy density of cells by 20 percent and improve charging speed by up to 30 percent. Range will be extended by 30 percent. 

Further development of Plant San Luis Potosí

As well as integrating battery assembly, other changes are being made at Plant San Luis Potosí: Just under 20,000 square metres will be added to the body shop, resulting in a total area of over 90,000 square metres. Assembly and logistics areas are also being expanded by almost 10,000 square metres.

“With this further development of our site, we are also gearing up in Mexico for the launch of the next BMW model generation. As the first premium OEM producing fully-electric vehicles and high-voltage batteries in Mexico, we are at the forefront of our industry and, at the same time, continuing to reduce our environmental footprint,” said Harald Gottsche, president and CEO of BMW Group Plant San Luis Potosí.

Photovoltaic output to double

When it comes to efficient energy supplies, the BMW Group uses site-specific solutions at its locations around the world. “In Mexico, we are planning to expand the photovoltaic systems within the plant, to double the output from the solar panels,” said Nicole Haft-Zboril, Head of Real Estate Management at the BMW Group. “The plan is to generate more than 20 percent of the electricity we need at the moment – directly on the factory premises.” The wastewater treatment plant has also been expanded, with an investment of 3.3 million euros significantly increasing the reuse of treated wastewater.

Extensive skills development programme

BMW Group Plant San Luis Potosí is also stepping up its commitment to skills development, aimed at ensuring employees are highly qualified and prepared for the challenges of the future. Training will include topics such as safety awareness around production of high-voltage systems and the use of robotics in manufacturing processes.

The BMW Group plant in San Luis Potosí started production in 2019. Around 3,700 employees currently produce the BMW 3 Series Sedan as well as the BMW 2 Series Coupé and the BMW M2 models for the global market.

Beijing. Please find the satellite and streaming details of the BMW Group Night and Press Conference at Auto China 2024 with the World Premieres of the new MINI Aceman and the new BMW i4.

Agenda April 24, 2024:

14:00 - 14:40 CEST: BMW Group Night (LIVE)
From 15:15 CEST:    BMW Group Night (On Demand)

Technical data for TV Satellite transmission
attached as PDF for regions:

Europe, South Africa
Asia – China, India, Indonesia
C-Band North & South America, Northern Europe
Africa, Australia, Asia

Live Stream available at: 
http://www.live.bmwgroup.com 

Agenda April 25, 2024:

From 09:00 CEST:    BMW Group Press Conference (On Demand)

On Demand Stream available at: 
https://live.bmwgroup.com/k8oW8b 

If you have any questions, please contact:

BMW Group Corporate Communications
Ramona Sander, BMW Group Press & PR Events
Telephone: +49-151-601-76239
E-Mail: Ramona.Sander@bmw.de

Statement Part I – Vision Neue Klasse X

Ladies and Gentlemen,

In 1999 — 25 years ago — BMW presented the first X5, and with it established the sporty SAV segment. Since then, the X Family has been a pillar of the BMW brand, with around 12 million X vehicles sold worldwide. Today, the X family covers all customer wishes in this segment — from the premium compact class with the X1 to the luxury class with the X7 and XM.

Now, the BMW Vision Neue Klasse X looks ahead to the future of BMW and a totally new generation of BMW X models. This future doesn’t start on some far-off date – it begins next year, when we turn vision into a reality that our customers can experience for themselves.

Last year, we presented the BMW Vision Neue Klasse at the IAA Mobility, an outlook of what a sporty sedan from the NEUE KLASSE could look like. Because we aren’t just ramping-up e-mobility in niche models – but in our most successful, highest-volume segments.

From 2025 on, we expect demand for all-electric vehicles to increase significantly. That is precisely when we will be releasing the NEUE KLASSE onto the market. The NEUE KLASSE represents a start into a completely new model generation. It is redefining the BMW brand. With the NEUE KLASSE, we are taking BMW into the future:
in design, technology and the philosophy of the brand.

For the first time, we are showcasing the systematic implementation of the automotive industry's three major areas of future mobility combined. This means: electric, fully digital, and with a clear focus on sustainability. We have significantly improved each of these aspects.

Take the sixth generation of our battery cells, which we will use for the first time in the NEUE KLASSE: Quantum leaps in energy density will provide our customers 30 per cent more range and 30 per cent faster charging. The potential of digitalization can also be experienced in the NEUE KLASSE in totally new ways. This is made possible by four completely new electronic control units. Each one comes with computing power that is up to ten times faster than current systems.

Our completely redesigned iDrive redefines the interface between humans and machines. At the same time, we are also making impressive advances in the field of sustainability.

We are turning all the dials. In this way, we can significantly reduce our products’ carbon footprint and move even closer to circular use of raw materials. We are sticking to this path – also because our customers expect it from us.

And the most important thing is: These developments do not just benefit the NEUE KLASSE, they benefit all future BMW models.

Ladies and Gentlemen,

All of this shows that: With the NEUE KLASSE, we aren’t just opening the next chapter in the history of mobility – we are writing a whole new book: More Sheer Driving Pleasure. More digital experiences.

More sustainability.

In other words: More BMW than ever before.

Statement Part II - corporate messages

Ladies and Gentlemen,

You certainly couldn’t ask for more BMW or more future! With the NEUE KLASSE, we are rethinking individual mobility from the ground up. And what is more consistent than to apply this new approach to everything that defines the core of the BMW brand?

First of all, that refers to the BMW X philosophy embodied by the BMW Vision Neue Klasse X. But sportiness is also at the heart of every BMW. And it is this characteristic that the BMW Vision Neue Klasse completely reimagines in a sporty sedan.

Today, you can see both Vision Vehicles together on one stage for the first time. On the one hand, it shows how consistent the NEUE KLASSE is – in terms of design, technology and the relevant parameters for sustainability. On the other, it demonstrates how broad the NEUE KLASSE is. Here, you can see the two bookends of what we can imagine. But there is still plenty of room for other models and innovations in-between.

I can promise you today that: We will be taking both of these Vision Vehicles from the stage to the roads in a very similar form very soon. At least six different NEUE KLASSE models will be released in the first 24 months following the start of production. I call this an unprecedented and highly ambitious timeline. But if anyone can do it, then it’s us at BMW.

The NEUE KLASSE will significantly accelerate our ramp-up of e-mobility once again. But BEVs – along with our models in the upper premium and luxury segment – are already our biggest growth drivers. Last year, we sold more than 375,000 all-electric vehicles.

This year, once again, our fully-electric vehicles should see significant double-digit growth.

We will soon have sold more than one million BEVs worldwide. Including plug-in hybrids, we already passed the milestone of two million electrified vehicles. Plug-in hybrids are especially popular with our European customers. That is one of the reasons why it only took us just over two years to double our overall xEV deliveries from one to two million.

For the BMW Group overall, we are anticipating a slight increase in sales in 2024. The foundation for this is our wide range of drive technologies, all of which we are systematically further developing.

In this way, we can ensure we always offer the right products and services at the right time.

This also substantially reduces our carbon footprint. At the end of 2023, we outperformed the CO₂ limit set for us by the European Union by more than 20 percent. This shows that our strategy not only reflects customer requirements, but also ensures effective CO₂ reduction. Climate protection cannot be achieved successfully if it does not take customer needs into account. It just doesn't work. That is why we believe a comprehensive review of CO₂ fleet legislation in the EU is essential. Regulatory frameworks that ignore customer needs and market realities cannot be successful.

Especially, if they are unable to create the necessary conditions for alternative technologies. Then, they only provide objectives but exclude possible solutions. By the end of this year, we will have more than 15 fully-electric models in our line-up – from MINI, BMW and
Rolls-Royce as well as BMW Motorrad.

No matter if on two wheels or on four wheels – we always offer the best of everything. As promised, we offer at least one all-electric model for every brand as well as in every one of our core segments. This dynamism is 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 is at 3.3 percent.

We still expect half our deliveries to be all-electric before 2030. However, growth in BEVs worldwide is not linear. That was always clear to us. Development is volatile and market-specific, due to several factors. We remain as flexible as possible – that has been our strategy for years and we have reflected that efficiently in our architectures. We continue to prudently steer our BEV ramp-up in line with differentiated demand in global regions. And we have been successful.

For us, it is important to always maintain a realistic view of the development of e-mobility. BEV growth does not benefit from a purely ideological approach, but from long-term planning and consistent implementation of goals. That is why we are creating the best-possible conditions for this in our production network and supply chain – on a global scale.

The first production vehicles of the NEUE KLASSE will start rolling off the line at our new Plant Debrecen in the second half of 2025. That is where the first SAV model on our new fully-electric architecture will be launched. The sporty sedan, on the other hand, will ramp up from 2026 at our Plant Munich, which we are currently gearing up for the start of production.

Every second BMW produced at Plant Munich is already fully electric today. From late 2027 onwards, our more than 100-year-old main plant will exclusively build electric vehicles. We will also be manufacturing the NEUE KLASSE at our plants in San Luis Potosí, Mexico, and Shenyang, China. This perfectly demonstrates: Whether at a greenfield site or a traditional location, whether in Europe, Asia or the Americas – we are mastering the complexity and leading all our production sites into the future.

As you know, to master e-mobility you need powerful batteries.

We have made it our mission to understand every aspect of battery cells – from cell composition and cell format, all the way to industrial manufacturing.

We are able to recreate the entire process at our Battery Cell Competence Centre in Munich and the Cell Manufacturing Competence Centre in Parsdorf in Bavaria.

We are also applying our local for local principle to cell production for our batteries. Facilities will be located in direct proximity to our vehicle plants. This has led us to build our own production facilities for Gen5, as we are now doing in Thailand, and for the sixth generation of BMW high-voltage batteries in Hungary, the US, Mexico and China. This ensures short transport distances and secures our supply against unforeseen events around the globe.

From 2026, Gen6 batteries for our plants in Bavaria will come from our new location in Irlbach-Straßkirchen. Establishing an industrial site like this is no longer a straightforward process – especially in Germany. We sought frank and open discussion with residents in the early stages and explained the sustainable design and advantages of our location in Lower Bavaria to them.

This is how we build trust. We are very pleased that residents voted strongly in support of our new site. We see this as confirmation of our efforts. The future of e-mobility also entails integrating vehicles into the power grid: With the NEUE KLASSE, we are introducing bi-directional charging, which we have already tested extensively. Our customers can feed electrical energy stored in the vehicle back into their own house, electrical devices like your e-bike or the public power grid: This lowers electricity costs and helps stabilise networks.

As you can see: With the NEUE KLASSE, we are taking mobility to a new level and, at the same time, becoming an entirely new company.

All BMW models will benefit from the innovations of the NEUE KLASSE.

That means: In the near future, you will recognise the NEUE KLASSE in every BMW.

Our BMW Motorrad brand is well on its way to emission-free mobility in urban spaces. I like to ride a motorbike myself, whenever I have the time. So, I am delighted that we are launching many new models this year. Three of them stand out particularly:

Here, you can see the new CE02.

It is the second fully-electric model after the CE04, standing next to it, which is the undisputed market leader in its segment. There is something special about the new CE02 that makes it particularly appealing to young people: In Germany and other countries, you only have to be 15 to ride it.

The M 1000 XR is already the second M motorcycle model.
There are also a lot of fans eagerly awaiting the R 1300 GS Adventure. A comprehensive offering on two wheels: Whatever customers are looking for, they will find it at BMW Motorrad.

Just like BMW Motorrad, our MINI brand has a passionate fan community around the globe. With our NEW MINI Famliy we are taking the brand into a new dimension. Just as the NEUE KLASSE is doing for the BMW brand.

Now, MINI is gearing up for a world premiere: the Aceman.

This will be the third member of the NEW MINI Family and the first MINI we are offering exclusively as an all-electric vehicle. Even if it’s still camouflaged — I can promise you: It is unmistakeably a MINI – inside and out: signature design, go-kart feeling and digitally in tune with the times. And all this combined with a minimal ecological footprint. That describes not only the Aceman, but the entire New MINI family.

The Aceman fills the gap between the Cooper and the Countryman, which has grown significantly bigger. The all-new Countryman has been well received – whether with a combustion engine or all-electric. And the all-new Cooper, which will be available starting in May, is already sold out for the next four months.

Our NEW MINI family will be built at our Spotlight joint venture in China; in Oxford, UK, and, for the first time, in Germany, at Plant Leipzig. In the second half of the year, we will launch the all-new MINI Convertible which many fans are eagerly waiting for.

Together with the 5-door MINI Cooper, our NEW MINI family will then be complete. And now let’s jump from one end of our portfolio to the other. From the MINI typical Go-Kart-Feeling to our ultra-luxury marque.

Spectre* is the first battery-electric Rolls-Royce model to hit the showrooms. With its all-electric drive train we are bringing the driving experience at Rolls-Royce to a whole new level: that feels effortless just like a magic carpet ride.

We have never had so many pre-orders for a Rolls-Royce model. This shows that our exclusive customers acknowledge how perfectly Rolls-Royce and electrification fit together. Rolls-Royce is an unparalleled success story. Our luxury brand, with its unique product portfolio, has never been as strong and as differentiated as it is today. And let’s not forget the significant contribution margin it earns for the company.

And, now, Ladies and Gentlemen, as promised:

the new BMW 5 Series Touring!

BMW is where Touring meets e-drive: No one else in this segment has a vehicle like this on offer. The i5* Touring will be available from May. It delivers an electric range of over 500 kilometres and is especially popular in Europe.

The 5 Series Sedan and the i5 will also be available exclusively in China with a longer wheelbase. Both will be built at BMW Brilliance Plant Dadong.

Our high-performance brand BMW M also offers a technological spectrum: With the i4 M50*, the i5 M60* and the i7 M70* we have
three all-electric models on offer. And by the way, the all-electric i4 M50 is yet again our best-selling M model.

This year, fans can especially look forward to the new edition of the M5 – first, as a sedan, and later, also as a Touring. Both M variants come with an impressive partially electrified drive train. With the BMW M hybrid system, they are able to drive more than 70 kilometres on electric power alone.

Our plug-in hybrids remain an important element of our drivetrain portfolio. Why? Because they provide a boost to e-mobility that should not be underestimated. Many customers discover and come to appreciate the advantages of electric driving in this way.

The 5 Series and the 5 Series Touring are concrete examples of how BMW is implementing a variety of drivetrains to meet very diverse customer needs.

All of this is based on our flexible architecture, which enables us to cover the entire spectrum: from powerful BEVs to smart plug-in-hybrids to highly efficient combustion engines and high-performance M models.

The success of this approach has been reflected in our key figures for several years — in sales and profit margins. With our broad technological approach we are already thinking one step ahead: We have been testing the BMW iX5 Hydrogen* in selected countries under everyday conditions since last year.

Our pilot fleet’s world tour has raised awareness of the role hydrogen can play in the energy transition – not just for mobility, but industry-wide. Our vehicles performed well under various climate and traffic conditions, and the public response has been overwhelmingly positive.

This was no surprise to us, since hydrogen fuel cell drivetrains combine the best of both worlds: the advantages of an emission-free e-drive with the fast refuelling people are used to. That’s why we see hydrogen as an additional alternative drive technology that could make a lot of sense in the mid to long term.

For us, our aspiration to be strong tomorrow means being already strong today.

This is especially true of the new edition of our best-selling X model, the BMW X3, which will be released later this year. The new X3 will be available with a choice of highly efficient combustion engines or as a plug-in hybrid.

At the same time, we are preparing for the next major leap: The NEUE KLASSE is built on a separate new architecture – already tailored today to the electric vehicles of tomorrow. This enables us to make the best possible use of economies of scale as demand for electric models grows.

Vehicle architectures are important, but they are not the decisive lever – that would be our technology clusters. They enable innovations and technological advances to be scaled efficiently across all architectures. Behind this is a modular principle that allows us to roll out technologies to different vehicle concepts and segments.

This ensures that the innovations of the NEUE KLASSE will benefit the entire BMW model line-up in the coming years.

We don’t divide our products into “old” and “new”, but always offer our customers the latest technology – regardless of the vehicle's powertrain.

We are using the NEUE KLASSE as our innovation and technology booster for the entire portfolio and for all major future mobility topics that we implement in our vehicles, including design.

The NEUE KLASSE is our impulse, initiator and enabler to roll out new technologies over the next few years. As you can see: We will continue to serve all markets according to their needs, providing top products in all segments. The full range of four drive technologies, regardless of which architecture they are built on, is just one aspect here.

The BMW Group is a tech company. The ability to manage this complexity, to orchestrate, scale and further develop technologies is one of the BMW Group’s greatest strengths and a unique selling point. With this in mind, we offer our customers the best, coherent overall package. That is our aspiration and our goal. It might even be the most important secret ingredient in our company's success.

We already showcase our innovative strength in automated driving with models like the BMW 5 Series and BMW 7 Series. The new BMW 5 Series is the first car in Germany approved for partially automated driving at up to 130 km/h on motorways. A completely new feature is the Active Lane Change Assistant with eye confirmation. The driver simply glances briefly in the exterior mirror and the car changes lanes.

Starting in March 2024, our customers will be able to experience Level 3 highly automated driving in the BMW 7 Series. This means you can let go of the wheel and temporarily turn your attention to something else.

Your 7 Series takes care of speed and distance control all
by itself, as well as lane tracking.

The steps to automated driving is one of the three main stories on the online version of the “BMW Group Report 2023”. I invite you to click through our online report. Our award-winning online Report will once again provide you with a compact overview of everything we are working on. You can experience what moves us and you try out our interactive KPI calculator. Just like the title says:
Driving the NEXT ERA.

Our spectacular Vision Vehicles show the direction in which we are taking mobility, in line with the major topics of the future. The most important aspect for our customers is: What does it feel like on the road?

In the Board of Management, we already got to drive a pre-series model of the NEUE KLASSE. We all agree that: It is Sheer Driving Pleasure at a whole new level. This is something only we can do! It is typically BMW.

A lot of people talk about transformation. That is when one thing replaces another. But, in our industry, it is more a case of things happening at the same time: Parallel approaches that still unmistakably move us forwards. That is why the BMW Group is committed to continuous and simultaneous progress – through bold leaps in innovation and responsible action.

And that brings us full circle:

Strong today – and strong tomorrow.

Thank you!

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

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

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

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

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

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

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

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

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

Compelling products – BEV offering as main growth driver

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

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

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

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

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

Diverse product range guarantees growth

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

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

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

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

MINI and Rolls-Royce to become electric-only brands

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

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

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

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

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

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

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

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

New generation of BMW iDrive takes user interaction to next level

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

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

Technology clusters: Latest innovations – regardless of powertrain

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

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

NEUE KLASSE test drives now underway

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

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

Hydrogen fuel cell as further pillar of drive technology

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

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

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

Sustainability built into strategy

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

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

BMW meets all business objectives for 2023, as forecast

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

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

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

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

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

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

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

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

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

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

Outlook for 2024: BMW Group expects profitable growth

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

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

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

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

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

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

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

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