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Munich/Cernobbio. The participants in this year’s Concorso d’Eleganza Villa d’Este (May 15th – 17th 2026) and the visitors to the event enjoyed an unforgettable experience amid spring temperatures on the shores of Lake Como. Assembled under the banner “Future needs Heritage”, the Concorso’s selection of motoring gems and vehicle exhibits extended from the early eras of the automobile to cutting-edge concept cars and prototypes. The result was a compelling overview of more than a century of automotive history. The stunning Villa d’Este luxury hotel provided a fitting backdrop for the world’s most elegant and prestigious contest for historic automobiles.

The only special roadster produced at the Munich plant

The BMW 328 “Bügelfalte” from 1937 was crowned the overall winner of the Concorso d’Eleganza Villa d’Este 2026 by the Jury of distinguished experts – and therefore claimed the title of “Best of Show”. This one-off model owes its name to the eye-catching metal edging atop its front wings.

On Sunday evening, its proud owner Stefano Martinoli was honoured with the “Trofeo BMW Group – Best of Show”. The prestigious winner’s prize was presented by Helmut Käs, Head of BMW Group Classic and President of the Concorso d'Eleganza Villa d'Este, Wilhelm Schmid, CEO of A. Lange and Söhne, and the President of the Jury, Lorenzo Ramaciotti. Along with the impressive trophy, the winner – selected by the Jury – also received a unique example of the 1815 CHRONOGRAPH timepiece in 18-carat white gold with solid pink-gold dial and hand-engraved Concorso d’Eleganza Villa d’Este crest on the hinged cuvette. This exclusive watch was created by A. Lange & Söhne specially for the winner of the Trofeo BMW Group. Another A. Lange & Söhne masterpiece was also celebrating its premiere at the Concorso: the Cabaret Tourbillon Honeygold, released in a limited edition of 50 pieces.

Mercedes-Benz SL 300 Roadster wins prize selected by Public Referendum

The Trofeo Coppa d'Oro Villa d'Este, awarded by public vote, was won by the Mercedes-Benz SL 300 Roadster owned by Eric Blumencranz from the USA. This 1963 car was one of the last examples to leave the factory.

In total, 54 vehicles from 13 countries took their places in this year’s Concorso d’Eleganza Villa d’Este across eight competition classes. Out of these emerged the respective class winners. While some of the classes were dedicated to a particular era, others represented more unusual groupings – such as spectacular Ferraris from the 1950s and 60s, and cars from various decades radiating a very special aura thanks to their original condition and lack of extensive restoration.

The grand parades outside Villa d’Este on Saturday and in the parkland of Villa Erba on Sunday were each led by a BMW 328, the roadster turned legend celebrating its 90th birthday this year. Built from 1936 to 1940, the 328 – with its 2.0-liter six-cylinder in-line engine – represents a milestone in automotive history and was the most successful sports car of the 1930s. The 328 shaped the character of BMW like arguably no other model and continues to enthral to this day. All those years ago, it already embodied the attributes that continue to define the brand to this day: dynamism, aesthetic appeal and standout technology.

Two BMW world premieres on Friday evening

The first highlight of the Concorso d’Eleganza Villa d’Este 2026 arrived on Friday evening with the world premiere of the Vision BMW ALPINA. This car combines all the elements that set the newly established BMW ALPINA brand apart: extreme driving capability, sophistication, and the mastery of both performance and comfort. The coupé roofline is long and raked, its form signalling the dynamism that accompanies an ability to accommodate four people in genuine comfort. At 5,200 mm in length, the 2+2-seater exudes an imposing presence, and its V8 engine provides a fitting choice of power source. Four elliptical exhaust tailpipes conjure the characteristic Alpina notes that are such an influence on the driving experience: sonorous and deep at low speeds, muscular and stirring at higher revs.

Helmut Käs, Head of BMW Group Classic and President of the Concorso d'Eleganza Villa d'Este, said: “I think the Concorso d’Eleganza Villa d’Este is exactly the right place to unveil a new car; it’s very much in keeping with this year’s motto “Future needs Heritage”. A reveal of this kind at Villa d’Este is something quite special; here, we are drawing a line from the past, through the present to the future. I find the atmosphere at the Villa d’Este really fantastic. The special thing about it is this: arguably nowhere else in the world can you experience this scenario of a brand-new model among all of these historic vehicles. This is what makes the event so captivating.”

The second world premiere on Friday evening saw BMW Motorrad laying down a powerful, emotionally engaging statement. The BMW Motorrad Vision K18 stands for uncompromising passion, assured long-distance performance and outstanding visual presence. The guiding visual theme of the Vision K18 is “The Heat of Speed”. A 1,800 cc six-cylinder in-line engine is the bike’s technical and stylistic centrepiece. It steers the appearance of the arrow-shaped “Full Force Forward” bike from every angle, it encapsulates the commitment of BMW Motorrad to blending technical excellence with emotional resonance, and it makes performance not only numbers on a sheet of paper but also an experience for the eye to behold. At the same time, the straight six is showcased as an element of BMW’s DNA and flies the flag for pioneering spirit – dialling up the radicalism, sharpening character at a detail level and inspiring solutions for future series-produced machines in the process.

The two Public Days of the weekend gave BMW Group Classic the platform to appeal to a broad audience of car enthusiasts. At the heart of the programme was “Amici & Automobili – Wheels & Weisswürscht”, which has developed into a fixture of the Concorso within just a few years. Here, fans of legendary cars and enthusiasts get together in the extensive grounds of Villa Erba to compare notes on their favourites.

40 Years of the BMW M3
The big “40 Years of the BMW M3” anniversary created considerable excitement thanks to the array of cars on display. This was the model that launched a whole new category: the compact high-performance sports car. The original BMW M3 started life as a homologation special for a variety of touring car race series. To gain the necessary clearance to take its place on the grid, at least 5,000 road-legal examples of each competing model had to be sold. That figure was surpassed by some distance, as the BMW M3 quickly became a byword for driving pleasure and technical expertise. Between 1987 and 1992, the BMW Motorsport GmbH-built BMW M3 E30 won all the relevant touring car race series and today remains the most successful touring car racer of all time. Many legendary wheelmen were keen to be present at the anniversary, including BMW works drivers Johnny Cecotto, Roberto Ravaglia and Emanuelle Pirro, and brand ambassador HRH Prince Leopold of Bavaria.

At Villa Erba, BMW celebrated the 50-year anniversary of both the BMW 6 Series and the BMW Art Car Collection as part of the BMW Art Car World Tour. On display were two masterpieces from the collection – Robert Rauschenberg’s BMW 635 CSi from 1986 and John Baldessari’s BMW M6 GTLM from 2016 – that were celebrating landmark anniversaries of their own. Stopping off at 60 locations in more than 30 countries, the “on tour” BMW Art Cars have now greeted over two million visitors at leading art fairs, museums, motor sport events and cultural institutions. The BMW Art Car World Tour will reach its pinnacle in summer 2026 with the biggest exhibition yet at BMW Welt in Munich.

The spectacular parade of all the historic cars in the grounds of Villa Erba on Sunday turned into an acclaimed show-reel, with the “Concept Cars & Prototypes” class adding to the attraction by creating a bridge between the past and the future. Following the parade, Helmut Käs, Head of BMW Group Classic and President of the Concorso d'Eleganza Villa d'Este, handed over the receipts from ticket sales on Saturday to Enrico and Giovanni Figini, presidents of the La Cometa charitable organisation in Cernobbio. In the presence of Cernobbio mayor Matteo Monti and his deputy Mario Della Torre, Helmut Käs also presented another donation from BMW Group Classic to Elisabetta Forni, President of aid organisation Comitato Basso Lario, likewise based in Cernobbio.

Longstanding partnerships with BMW Group Classic
 “The Concorso d’Eleganza Villa d’Este is much more than simply one of the most renowned events in the classic car world. Since 1929, it has also been a place where beauty, tradition, craftsmanship and passion converge to inimitable effect – and that can now look back on almost a century of history,” says Davide Bertilaccio, CEO Villa d'Este Hotels. “At Villa d’Este, the Concorso is an integral part of our identity. We don’t just host the event, we are committed to extending its legacy. We are guardians of something unique, something that doesn’t only belong to the present but also to the generations before us that created it and to those who will have the privilege and responsibility of carrying it on. Our long partnership with the BMW Group, which now stretches back over more than 20 years, has enabled this extraordinary event to continue evolving while staying true to itself. Together, we have set ourselves the aim of preserving its authenticity, refining every detail and ensuring that every edition of the event remains a celebration of timeless elegance, automotive excellence and the unmistakable spirit of Villa d’Este. Of course, the true success of the Concorso lies in the exceptional vehicles and in the emotions at play here – in the enthusiasm of collectors, experts and visitors from around the world and in the sense of wonder that this place always evokes. This makes the Concorso d’Eleganza Villa d’Este not only an event but also a legacy that must be preserved, protected and passed on,” adds Bertilaccio.

Wilhelm Schmid, CEO of A. Lange & Söhne, also highlighted the long-standing partnership with BMW Group Classic: “The worlds of fine watchmaking and automobiles have much in common: timeless design, the finest craftsmanship and utmost precision. And we have been celebrating this for 15 years now as a partner of the Concorso d’Eleganza Villa d’Este. But this is also about never standing still, about letting the wheels of cars roll and the hands of watches circle their dials. More than anything, though, it requires great passion to be part of these two worlds. All of this can be found both in the Best of Show winner and the specially manufactured example of our 1815 CHRONOGRAPH. And so it was a great pleasure for me to present the winner of this year’s competition with this unique timepiece.”

Bidders from 31 countries at the Broad Arrows auctions
Broad Arrow Auctions, driven by Hagerty, returned as the official auction partner of BMW AG for the Concorso d’Eleganza Villa d’Este, registering a 71 percent increase in bidders over 2025 with those bidders representing 31 different countries. Over two days, Broad Arrow Auctions hosted a spectacular sale of 70 cars epitomising style, performance and desirability, with collectors from around the world treated to a superb atmosphere at Villa Erba.

A 2018 Pagani Zonda Unica was the star attraction in the sale, along with a 2023 Ferrari Daytona SP3 and one of the most iconic supercars of all, a 1990 Ferrari F40. They formed part of a superb catalogue of classic and contemporary models from BMW, Lamborghini, Maserati, Porsche and others, all of which contributed to an auction that shared the same sense of glamour and heritage as the Concorso itself. Full results of the auction are available on the Broad Arrow Auctions website.

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

To bridge the gap until the next edition of the event, we would like to invite all car enthusiasts to look back on the highlights of the Concorso d'Eleganza Villa d'Este 2026 at www.concorsodeleganzavilladeste.com.

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Please open the attached file to see the complete list of winners.

Munich. BMW AG is simplifying its capital structure: its share capital of approximately €616 million will in future consist solely of ordinary shares. At today’s Annual General Meeting of BMW AG and a subsequently held separate meeting of preferred shareholders, the conversion of preferred shares into ordinary shares was approved by a clear majority. Approval at the Annual General Meeting amounted to 99,99%, while the separate meeting of preferred shareholders approved the resolution with 99,77%. The conversion will be brought into effect by way of an amendment to the Articles of Association, with no additional payment obligation for preferred shareholders. The conversion will become effective upon registration of the amendment to the Articles of Association in the commercial register. The BMW AG will announce the exact timing by public notice.

Currently, approximately 91% of BMW AG’s share capital consists of voting ordinary shares, and around 9% of non-voting preferred shares, which carry a fixed dividend preference of €0.02 per share. The dividend preference of the preferred shares will be applied for the last time for the 2025 financial year. From the 2026 financial year onward, the balance sheet profit available for distribution will be allocated evenly across all shares. Following the approved conversion at a ratio of 1:1,each share will in future carry the same voting right at the Annual General Meeting.

“For the weighting of BMW AG in major stock indices such as the DAX or the EURO STOXX 50, it is already the ordinary shares that are decisive as the share class with the highest free‑float market capitalization. As a result of the conversion, their proportion in free float will increase significantly by around 19%,” said Chief Financial Officer Walter Mertl on Wednesday in Munich. “This step therefore strengthens the weighting of BMW AG in relevant indices. The simplified capital structure represents a clear added value for investors and may have a positive impact on the share price performance of the BMW share.”

A single share structure follows the internationally recognised corporate governance principle of “one share, one vote”. This increases the attractiveness of the BMW share, in particular for international and institutional investors.

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 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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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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- Check against delivery –

The 106^th BMW Annual General Meeting!

A very warm welcome to all our shareholders!

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

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

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

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

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

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

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

What currently defines the BMW way?

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

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

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

These are the topics I would like to discuss.

Ladies and Gentlemen,

We met the following goals in financial year 2025:

•      Our target profitability range for the Automotive Segment.

•      Group earnings before tax of over 10 billion euros.

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

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

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

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

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

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

•      BMW leads the global premium segment.

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

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

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

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

Let’s move from models to markets.

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

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

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

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

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

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

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

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

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

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

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

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

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

In China. For China. With China.

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

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

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

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

Every industrial policy measure should

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

•      and ensure continuity in cooperation with international trading
partners.

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

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

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

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

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

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

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

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

Germany carries significant weight as an industrial location within Europe.

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

However, we are falling behind:

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

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

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

Our plants are operating at high capacity:

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

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

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

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

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

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

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

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

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

The race is on.

The NEUE KLASSE is realising its potential and generating excitement.

Ladies and Gentlemen,

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

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

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

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

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

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Video.

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Ladies and Gentlemen,

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Dear Shareholders,

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

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

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

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Video.

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

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

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

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

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

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

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

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

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

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

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

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

Thank you for 35 intense and exciting years at BMW!

- Check against delivery –

Ladies and Gentlemen,

Good morning.

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

Three characteristics in particular define the BMW way:

First: Our strategy of technological neutrality

Second: The BMW Group’s global footprint and

Third: Inspiring brands and fascinating products.

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

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

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

The launch of the iX3 has been extremely successful.

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

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

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

The iX3 also continues to win notable major international awards.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

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

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

That combination is what sets the BMW Group apart.

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

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

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

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

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

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

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

Thank you.

- Check against delivery –

SLIDE 2: BMW Group Quarterly Statement to 31 March 2026

Ladies and Gentlemen,

Good Morning.

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

SLIDE 3: BMW Group Performance in Q1 2026

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

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

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

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

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

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

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

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

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

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

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

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

This was driven by shifts in regional and powertrain sales.

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

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

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

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

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

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

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

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

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

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

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

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

Switching gears to BEV retail sales:

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

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

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

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

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

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

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

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

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

SLIDE 5: Automotive Segment EBIT in Q1 2026

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

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

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

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

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

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

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

SLIDE 6: Automotive Segment Free Cash Flow in Q1 2026

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

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

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

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

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

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

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

This trend will continue throughout 2026.

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

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

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

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

Ladies and Gentlemen,

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

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

SLIDE 7: Financial Services Segment YTD March 2026

Let’s now turn to our Financial Services Segment.

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

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

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

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

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

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

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

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

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

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

SLIDE 8: Motorcycles Segment in Q1 2026

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

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

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

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

SLIDE 9: Outlook 2026

Ladies and Gentlemen,

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

Thank you.

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

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

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

Order intake in Europe reaches record levels

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

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

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

MINI maintains its growth trajectory

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

BEV demand growing in Europe

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

Currency effects weigh on revenues

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

Disciplined cost management continues to deliver results

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

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

Share buyback on track

The Annual General Meeting in May 2025 authorised the Board of Management to buy back up to 10% of BMW AG’s share capital over the next five years. Based on this new authorisation, the Board of Management approved a third share buyback programme with a volume of up to € 2 billion, to be completed no later than 30 April 2027. The first tranche of shares worth € 750 million were repurchased by December 2025. The second tranche of shares, amounting to € 625 million, is on track to be purchased by 31 August 2026. On 31 March 2026, BMW AG held shares with a nominal value of € 12,225,269. 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/

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Beijing. The BMW Group’s exhibition stand at Auto China 2026 is dedicated entirely to the Neue Klasse. In Beijing, the new BMW iX3 Long Wheelbase, the new BMW i3 Long Wheelbase, and the new BMW 7 Series featuring Neue Klasse technologies are celebrating their world premieres. “With the introduction of the new BMW iX3 for China, the BMW i3 for China, and the new BMW 7 Series, we are marking an important milestone in the biggest future project in BMW’s history: the Neue Klasse. We are making a major leap – in technology, driving experience, and design,” said Oliver Zipse, Chairman of the Board of Management of BMW AG. “With the new BMW 7 Series, we are demonstrating how we are scaling the new technology clusters and the new design language across our entire portfolio. This is a powerful example of how every future model will benefit from the innovations of the Neue Klasse.”

The BMW Group’s presence at Auto China 2026 highlights its technological focus. The company is showcasing numerous forward-looking innovations in Beijing, including a digital experience featuring BMW Panoramic iDrive that is tailored entirely to the needs of customers in China, as well as driver assistance systems developed specifically for the demands of Chinese traffic conditions. The MINI brand is also present at Auto China 2026, attracting attention with two emotional concept cars.

The BMW iX3 and BMW i3: world premieres for the first two Neue Klasse models developed specifically for China.

The first Neue Klasse models developed in China for China are celebrating their world premieres at Auto China 2026: the new BMW iX3 and the new BMW i3. Both models embody the leap into a new era and reflect BMW’s ambition to lead innovation in China, the company’s largest single market, particularly in electrification, digitalisation, and software-defined vehicles.

With their distinctive Neue Klasse design language, the BMW iX3 and the new BMW i3 herald a new era in BMW design. Both models combine typical BMW proportions with a pared-back, more technical design language. Key features include a reinterpretation of the iconic BMW kidney grille, integrated light signatures, and forward-oriented lines.

Both the new BMW iX3 and the new BMW i3 are based on the sixth generation of BMW eDrive technology (Gen6). A key feature of Gen6 BMW eDrive technology is the cylindrical cell technology of the high-voltage battery. This enables a range of more than 900 kilometres on a single charge in the new BMW iX3, according to the CLTC cycle. In the new BMW i3, the maximum range, according to the CLTC cycle, exceeds 1,000 kilometres. Thanks to the Neue Klasse’s 800-volt architecture, both models can be charged at a fast-charging station with a peak charging power of 400 kW. According to the CLTC standard, this allows enough energy for up to 400 kilometres of driving to be added in ten minutes.

World premiere of the new BMW 7 Series – the first luxury sedan featuring Neue Klasse technologies.

The BMW Group is making a powerful statement with the new BMW 7 Series: as the most exclusive interpretation of sheer driving pleasure, it underlines its leadership in the luxury segment.

The new BMW 7 Series represents the most extensive model revision in the history of the BMW Group. In its seventh generation the BMW 7 Series once again makes a significant leap forward. As the brand’s flagship and image leader, the new BMW 7 Series assumes a pioneering role in introducing Neue Klasse technologies into existing models. This step also marks the beginning of a cross-segment and cross-powertrain technology roll-out that will benefit all future BMW models.

Design premiere of BMW’s luxury class.

The new BMW 7 Series embodies the specific interpretation of the new BMW design language for the luxury segment. A monolithic exterior, the new BMW Iconic Glow kidney grille, and minimalist crystal headlights create a striking presence and strong visual identity. The side profile impresses with reduced surfaces, a distinctive character line, and refined details, while the rear is defined by newly designed lights and clear, precise forms.

Exclusive in-car experience: a sense of well-being with luxurious materials, modern design, and innovative technologies.

The interior of the new BMW 7 Series stands out through its combination of luxurious materials, modern design, and advanced technologies. The clear design language featuring high-quality surfaces, such as leather, textiles, wood, crystal glass, and metal, together with an immersive lighting concept with an ambient light strip and new lighting elements, creates an exclusive yet welcoming atmosphere.

BMW Panoramic iDrive and the BMW Passenger Screen open up new dimensions in entertainment and information.

The new BMW 7 Series combines the strengths of a luxury sedan with innovative Neue Klasse technologies to deliver a comprehensive digital user experience that places both the driver and the passengers centre stage. Highlights include the new BMW Panoramic iDrive with optimal driver orientation and the first-ever BMW Passenger Screen, the enhanced BMW Theatre Screen for a cinematic experience or mobile working in the rear, as well as the Bowers & Wilkins sound system with Dolby Atmos support for an outstanding audio experience.

The multimodal operating logic of the BMW Panoramic iDrive combines touch-based, haptic, and voice interaction. The BMW Intelligent Personal Assistant, featuring Amazon Alexa+ AI technology, plays a central role in this. ^[1]In China, the BMW Intelligent Personal Assistant is enhanced with DeepSeek AI technology.

New driver assistance systems in the BMW 7 Series.

The comprehensively upgraded Level 2 driver assistance systems in the new BMW 7 Series enable hands-free driving on motorways at speeds of up to 130 km/h in many European countries, the United States, and Canada, including automated lane changes following eye confirmation and “Entry-to-Exit” assistance. The City Assistant offers navigation-guided “Address-to-Address” driver assistance through BMW Symbiotic Drive. ^[2] BMW Symbiotic Drive ensures seamless interaction between assistance systems and human driving behaviour. The driver’s intention to accelerate, brake, or steer merges intuitively with AI-supported software. The BMW 7 Series relies on driver assistance technologies that were specifically adapted for the Chinese market.

New “Address-to-Address” driver assistance system specifically for the Chinese market.

Beginning with the BMW iX3, BMW is introducing a new driver assistance system developed specifically for Chinese traffic conditions. By the end of 2027, it will be available in 12 BMW models in China, including the new BMW 7 Series and BMW i3. For more than 20 years, BMW has been a pioneer in the development of driver assistance systems, always placing safety and reliability under complex, real-world conditions at the forefront. For the new generation of intelligent BMW driver assistance in China, BMW combines decades of experience in functional integration and operational safety with the strengths of locally trained end-to-end AI, developed in partnership with the Chinese company Momenta. The result is a unique system for navigation-guided “Address-to-Address” driver assistance. The central computer for automated driving works in harmony with the “Heart of Joy”. In the new iX3 and i3, BMW Soft-Stop technology delivers the smoothest assisted driving experience to date.

Another highlight of these new driver assistance technologies is the unique cooperative braking system. When driver assistance is activated, it allows the driver to influence the system with light braking input without deactivating assistance. This function underlines BMW’s symbiotic philosophy for Level 2 driver assistance systems, including in China. As a result, the driver remains involved in a collaborative interaction between human and artificial intelligence. The entire user experience with BMW Panoramic iDrive is designed to ensure that the driver is always informed about the system’s status and remains intuitively attentive.

A digital leap forward: BMW Panoramic iDrive and the digital user experience for China.

With the start of the Neue Klasse, the display and control concept becomes a key driver of the in-vehicle digital user experience. At its heart is BMW Panoramic iDrive, which will be shown for the first time in China in models with Neue Klasse technologies presented at Auto China 2026. These cutting-edge technologies were adapted to meet local market needs.

It is based on BMW Operating System X. The system is designed to be scalable within the brand: core functions, architecture, and design principles are globally uniform, while content, services, and technologies can be adapted to specific markets and regions.

This scalability allows BMW to tailor digital functions to different usage habits and regulatory frameworks. One example is voice interaction: while BMW relies on Amazon technologies in Europe and the United States, in China, it uses a proprietary solution developed in collaboration with local technology partners such as DeepSeek. This way, BMW integrates different technological approaches within the same system architecture without compromising quality, safety, or user experience.

BMW has comprehensively enhanced the digital system for the Chinese market. This goes beyond localisation, representing a version designed for China. Around 70 per cent of the Chinese version of the BMW Operating System X is developed in local development centres. On-site teams contribute their expertise in Chinese user behaviour, for example, in voice interaction, navigation, personalisation, and the integration of digital ecosystems.

A key factor in this success is close collaboration with leading Chinese technology companies. Together with partners like Alibaba, DeepSeek, Amap, and Huawei, BMW develops digital functions and services that integrate deeply into the Chinese ecosystem. These collaborations support the integration of modern AI technologies, local services, and content into the in-car experience.

Navigation is also deeply integrated into the overall digital experience. In collaboration with Amap, BMW offers high-resolution, lane-accurate navigation in China that precisely visualises complex traffic situations and urban junctions. The content appears consistently across all relevant display levels for safe and intuitive navigation.

Furthermore, BMW Panoramic iDrive opens up new possibilities for personalisation. Configurable content, customisable widgets, and AI-powered functions allow the digital vehicle experience to adapt to different usage scenarios, from daily commuting and family journeys to business trips.

That is why China plays a key role in the BMW Group’s global digital strategy. The combination of scalable system architecture, local development expertise, and close partnerships with Chinese technology companies allows BMW to implement market-specific digital innovations while making them available worldwide.

The BMW iX3 Flow Edition demonstrates the production-ready status of BMW E Ink technology.

The world premiere of the new BMW iX3 Long Wheelbase at Auto China 2026 is accompanied by the BMW iX3 Flow Edition concept car. It offers a striking example of the transition from a static to a dynamic vehicle surface. Its E Ink technology, seamlessly integrated into the bonnet, allows the driver to choose among eight carefully selected animations at the touch of a button. The iconic Chinese buildings resemble modernity and progress. Ranging from subtle to expressive, the design makes innovation visible and conveys the driver’s style and mood in a personalised and context-sensitive way. By integrating this technology into the bonnet of the BMW iX3 Flow Edition, the BMW Group takes E Ink to a new level. Integrated into a large-scale bodywork element for the first time, the concept car demonstrates the technology’s readiness for series production.

Special editions and one-offs highlight the diversity of the MINI brand.

With its diverse vehicle portfolio, MINI underscores its commitment to individual design and a broad range of character at Auto China 2026. This includes several special editions highlighting the brand’s design and heritage, including the MINI Paul Smith Special Edition, as well as various models from the high-performance John Cooper Works sub-brand.

A highlight of the display is the one-off MINI x Vagabund. Based on the MINI Countryman, two unique vehicles were created in collaboration with the Austrian design studio Vagabund. With a bespoke sound system, striking graphic accents, and an expressive colour scheme, the MINI concept cars become a mobile soundstage, embodying a spirit of adventure, community culture, and festival lifestyle. One of the two MINI x Vagabund vehicles will be presented in Beijing.

MINI will also showcase the MINI JCW “The Skeg” at Auto China 2026. The model is the result of a collaboration with Deux ex Machina and combines influences from surf and motorsport culture to highlight the sporty, progressive side of the MINI brand.

A series production preview of BMW’s hydrogen fuel cell technology: the BMW iX5 Hydrogen prototype in ‘Flow Emergence’ design.

Another eye-catcher at the BMW Group’s exhibition stand at Auto China 2026 is the redesigned vehicle from the BMW Hydrogen Pilot Fleet, which has been in global operation since 2023. From 2028, the new BMW iX5 Hydrogen will become the first BMW series-production vehicle powered by a hydrogen fuel cell drive. In doing so, the BMW Group is bringing the benefits of this technology into everyday use: electric driving with long ranges and short refuelling stops.

The BMW iX5 Hydrogen from the pilot fleet, presented at Auto China 2026, also draws attention with its design concept developed by Designworks Shanghai. Thematically aligned with BMW’s hydrogen fuel cell technology, the wrap concept, developed under the motto ‘Flow Emergence’, uses water as a metaphor to visualise the generation and transformation of energy in nature. Inspired by water landscapes and Far Eastern watercolour painting, it illustrates the condensation of time and energy. The flowing visual language, with gentle colour gradients, conveys the transition from stillness to movement and the unfolding from within. The design of the pilot fleet vehicle at Auto China 2026 symbolises the continuous transformation of energy for climate-friendly and sustainable mobility in the future.

Innovation and bespoke individuality across 4,400 square metres of exhibition space.

The BMW Group is exhibiting its BMW and MINI brands at Auto China 2026 across a record exhibition space of around 4,400 square metres. This space is almost three times larger than in 2024 and underscores the importance of the Chinese market to the company. The exhibition stand showcases a total of 42 vehicles, including 28 BMW vehicles and 14 MINI vehicles, with three world premieres and 14 vehicles that are individualised, customised, classic cars, or special edition cars. Two BMW motorcycles will also be featured at Auto China 2026.

The BMW Highlight Show, featuring a 300-square-metre LED wall, presents the new BMW iX3 Long Wheelbase and the new BMW 7 Series to visitors throughout the day. Through interactive exhibits, ten ‘Deep Dive’ stations invite visitors to explore the latest technologies and charging solutions, including robotics and bidirectional charging. The extensive BMW Individual range is illustrated through an exhibition of 164 paint samples and 36 leather samples. An immersive audio experience with Dolby Atmos and Bowers & Wilkins creates an exceptional sound environment.

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/

Please find attached additional photo material of the BMW i3 design premiere with Oliver Zipse, Chairman of the Board of Management of BMW AG, and Adrian van Hooydonk, Head of BMW Group Design

- 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/

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Ladies and Gentlemen,

Good morning.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

Thank you.

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Ladies and Gentlemen,

Good Morning.

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

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

You all know the BMW Group as an ambitious company.

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

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

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

This development results mainly from three areas:

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

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

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

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

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

In addition to EBIT, tariffs also affect free cashflow.

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

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

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

Earnings before tax amounted to 1.4 billion euros.

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

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

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

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

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

This was primarily due to the consumption of warranty provisions.

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

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

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

This is driven by two factors:

Lower-than-expected earnings for the full year

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

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

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

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

Let’s now turn to our Financial Services segment.

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

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

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

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

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

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

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

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

Resale income remains positive on a portfolio basis.

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

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

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

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

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

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

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

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

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

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

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

Ladies and Gentlemen,

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

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

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

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

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

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

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

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

Thank you.

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

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

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

Growth in electrified vehicles and M models

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

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

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

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

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

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

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

Significantly lower R&D spending and capital expenditure

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

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

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

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

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

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

Group pre-tax earnings exceed € 8.0 billion

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

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

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

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

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

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

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

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

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

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

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

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

Financial Services Segment sees continued new business growth

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

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

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

BMW Motorrad posts higher margin in YTD September

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

Full-year guidance for 2025

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

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

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

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

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

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

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

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

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

GLOSSARY – explanatory comments on key performance indicators

BEV

Battery Electric Vehicle.

Deliveries to customers

A new or used vehicle is recorded as a delivery once it is handed over to the end user (which also includes leaseholders under lease contracts with BMW Financial Services). In the US and Canada, end users also include (1) dealers when they designate a vehicle as a service loaner or demonstrator vehicle and (2) dealers and other third parties when they purchase a company vehicle at auction and dealers when they purchase company vehicles directly from the BMW Group. Deliveries may be made by BMW AG, one of its international subsidiaries, a BMW Group retail outlet, or independent third-party dealers. The vast majority of deliveries – and hence the reporting of deliveries to the BMW Group – is made by independent third-party dealers. Retail vehicle deliveries during a given reporting period do not correlate directly to the revenues that the BMW Group recognises in respect of that particular reporting period.

EBIT

Profit before financial result. Profit before financial result comprises revenues less cost of sales, less selling and administrative expenses and plus/minus net other operating income and expenses.

EBIT margin

Profit/loss before financial result as a percentage of revenues.

EBT

EBIT plus financial result.

EBT Margin

Profit/loss as a percentage of revenues.

PHEV

Plug-in-hybrid electric vehicle.

RoCE

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

RoE

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

If you have any questions, please contact:

BMW Group Corporate Communications

Dr Britta Ullrich, Finance Communications

Telephone: +49 89 382-18364

Email: britta.ullrich@bmwgroup.com

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

Telephone: +49 89 382-24118

Email: max-morten.borgmann@bmwgroup.com

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

Email: presse@bmwgroup.com

The BMW Group

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

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

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

www.bmwgroup.com

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

YouTube: https://www.youtube.com/bmwgroup

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

Facebook: https://www.facebook.com/bmwgroup

X: https://www.x.com/bmwgroup

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.

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. The destination of the BMW Motorrad International GS Trophy 2026 has been decided: this time the off-road adventure will take place in Romania in late summer 2026. With this decision, BMW Motorrad opts for a second destination within Europe. After much sand and steppe, the event returns to the mountains. Dense forests, gravel roads, river crossings, and steep ascents and descents will characterise the upcoming International GS Trophy 2026 in Romania. In 2026, the BMW R 12 G/S will showcase its impressive on- and off-road capabilities as the GS Trophy Competition Bike while traversing the country.

Romania is renowned for its stunning natural beauty and diverse landscapes. From the majestic Carpathian Mountains to rolling hills and fertile plains, it offers a wide range of terrain for adventure seekers. For off-road enthusiasts, the Carpathian Mountains offer a challenging landscape with steep climbs, rocky paths and dense, jungle-like forests.

Romania is deeply rooted in history and culture and is home to numerous medieval castles, fortresses and churches, including the famous Bran Castle, which is often associated with the Dracula legend. The country boasts a vibrant mix of traditions and folklore. Overall, Romania offers a unique blend of natural beauty, cultural richness and adventure, making it an ideal destination for the International GS Trophy 2026 competitors.

The Int. GS Trophy 2026 Competition Bike.

A classic enduro for pure riding fun, both on and off road. Its authentic design is inspired by the legendary BMW R 80 G/S. With the new BMW R 12 G/S, BMW Motorrad is offering a classic enduro for pure off-road fun. The abbreviation borrowed from its predecessor, the R 80 G/S, also stands for "off-road (Gelände) / road (Strasse)" and signals that the new model in the BMW Motorrad R 12 family is equally at home on both terrains.” (Markus Lederer, Head of Boxer model series).

BMW Motorrad and off-road sport. This motorsport success story runs like a red thread through the company's history. The high-torque flat-twin boxer engine in combination with the propeller shaft drive has proven its winning power and durability in countless competitions. In 2026, the BMW R 12 G/S will have the opportunity to prove itself at the International GS Trophy.

National qualifying events worldwide and another international qualifying event at the BMW Motorrad Enduro Park.

There is still some time to go before the official start of the BMW Motorrad International GS Trophy 2026, however. Meanwhile, the national and international qualifying rounds offer a foretaste of what is to come. There will be 8 national qualifying event and one international qualifying round worldwide, where skilled enduro riders can demonstrate their capabilities.

In order secure a place on one of the 15 national teams, participants are required to perform GPS navigation exercises, off-road special stages and technical tests. Nine men's teams and six women's teams can look forward to the adventure.

The qualifying rounds for the BMW Motorrad International GS Trophy 2026 are confirmed for the following countries and regions:
• Australia 
• China 
• Germany 
• India 
• Japan 
• South Korea 
• Ukraine 
• International qualifying for interested parties from other countries at the BMW Motorrad Enduro Park in October 2025.

Registration for the International Qualifier takes place via the BMW Motorrad Enduro Park website.

About Romania:

It is located in Eastern Europe and borders Ukraine to the north and east, Hungary and Serbia to the west, Bulgaria to the south, and Moldova and the Black Sea to the east. The country has a temperate continental climate with four distinct seasons. Summers are warm, especially in the lowlands, and winters are cold with heavy snowfall in the mountains. Spring and autumn offer mild and pleasant weather, which is ideal for off-road motorbike tours. Romanian is the official language, but many people also speak English, particularly in urban areas. With a population of around 19 million, Romania is one of the most densely populated countries in Eastern Europe. Romania is home to a rich variety of wildlife, including bears, wolves and lynx in the Carpathian Mountains. It is also home to the Danube Delta, a UNESCO World Heritage Site and one of the most biodiverse regions in Europe, offering unique opportunities for birdwatching and wetland exploration. Romania is renowned for the hospitality of its people. The cuisine is hearty and flavourful.

Capital:                   Bucharest
Population:             ~ 19 million
Size:                       238,391 km²
Currency:               Romanian leu (RON)
Language:              Romanian (the official language); English is mainly spoken in urban areas.

About the BMW Motorrad International GS Trophy.

BMW Motorrad Corporate Communications The BMW Motorrad International GS Trophy is an event that celebrates the spirit of the legendary BMW Motorrad GS models. It encompasses everything that a BMW GS stands for: riding fun, adventure and challenges. The BMW Motorrad International GS Trophy 2026 Romania is the tenth edition of the event. The previous events took place in Namibia in 2024, in Southeast Europe (Albania) in 2022, in Oceania (New Zealand) in 2020, in Central Asia (Mongolia) in 2018, in Southeast Asia (Thailand) in 2016, in North America (Canada) in 2014, in South America (Chile, Argentina) in 2012, in South Africa (South Africa, Swaziland, Mozambique) in 2010 and in North Africa (Tunisia) in 2008. The current event will involve 15 teams. Others involved include the GS Trophy marshals, doctors, sponsors and a photo and film crew.

The BMW Motorrad International GS Trophy is not a race, but rather a 'once-in-a-lifetime' experience in which a diverse group of off-road enthusiasts from around the world compete in a series of special stages. Not all of these tests are purely riding tests. Skills and teamwork are essential, too. Since competitors are together for a lot of the time, also spending the night in bivouacs, this is an adventure that promotes a sense of togetherness, too. People, cultures and motorcyclists from all over the world come together, and it is not uncommon for friendships to be made for life.

Based on the experience of past GS Trophy events, the most successful teams are ultimately those that demonstrate solid preparation, excellent teamwork and riding ability, while at the same time having a lot of fun and experiencing wonderful international camaraderie.

Be sure to get in on the action!

Over the next few months, BMW Motorrad will reveal more details about the competition bike, the R 12 G/S, as well as information about the participating countries and selected teams. BMW Motorrad offers a multi-channel media experience during and after the event. The spectrum ranges from live streams and up-to-date social media posts during the event and a professionally shot and edited video summary after the Int. GS Trophy 2026.

For details of event and teams, see the dedicated website gstrophy.com.

Immediately following the BMW Motorrad International GS Trophy 2026 Romania, BMW Motorrad will once again be offering “Follow the Trails” tours: these allow customers to follow in the footsteps of the competition on the original GS Trophy motorcycles.

For further press material on BMW motorcycles and BMW Motorrad rider equipment, see the BMW Group PressClub at https://newsroom.bmwgroup.com/global/en.

In case of queries, please contact:

Tim Diehl-Thiele, Head of Communications BMW Motorrad Telephone: +49-151-601-57505, Tim.Diehl-Thiele@bmw.de

Ingo Wirth, Head of Communications MINI and BMW Motorrad Telephone: +49-151-601-25814, Ingo.Wirth@bmw.de

Internet: www.press.bmw.de

E-mail: presse@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 Munich, 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 Motorrad 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.

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

- 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. After the successful return of the ##BMW Motorrad Days## to Garmisch-Partenkirchen in 2024, the Hausberg became once again in 2025 the international hotspot of BMW Motorrad lifestyle and pure motorcycle culture for over 40,000 fans from around 50 nations.

For the 20th anniversary in Garmisch-Partenkirchen at the Hausbergbahn - overall the 23rd BMW Motorrad Days - the international BMW Motorrad community celebrated with product innovations, exhibitors, shows, test ride opportunities, and not least with rustic Bavarian lifestyle and great party atmosphere.

The extensive program of the BMW Motorrad Days left no wishes unfulfilled and the fans could experience the full range of the brand.

In the tents as well as the open areas of the BMW Motorrad Days, there was a lot on offer: In the Heritage Area, unique custom bikes could be admired alongside shows in the original Motodrom. Besides various stunt shows, the focus was especially on the brand experience of BMW Motorrad. With the latest motorcycle models, which were extensively tested in around 1,600 test rides, concept bikes, accessories, a large fan shop, international travel, training and test ride partners, Rent A Ride, Experience Hub, the
BMW Motorrad Plant Berlin, the BMW Group Classic as well as numerous international exhibitors and partners, there was much for visitors to see and experience.

For fans of the BMW GS and G/S models, BMW Motorrad had something special in store. An off-road track was specially created for this event at Hausberg, where the current
F 900 GS, R 1300 GS, and the brand-new R 12 G/S could be tested off-road in their respective segments.

As a special highlight, the two ##BMW WorldSBK## factory riders Toprak Razgatlıoğlu and Michael van der Mark honored the event, being available to fans for autographs and photos, and showcasing their extraordinary skills both off-road with the BMW R 1300 GS and at the stunt show, thus generating excitement among the fans.

Press material on BMW motorcycles in the BMW Group PressClub at
https://newsroom.bmwgroup.com/global/en.

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

Munich. On 7 June, the “Belle Macchine. Italian Automotive Design at BMW” exhibition will open its doors at the BMW Museum. With its famed sense for timeless aesthetics, Italy has set standards in fashion, interior and product design for as long as anyone can remember. And Italian designers have also left an enduring mark on the automotive world. This exhibition explores the influence of Italian design at BMW and provides a fascinating retrospective on the evolution of coachbuilding and body design over the past few decades.

BMW has drawn inspiration from Italian coachbuilding culture since as far back as the 1930s. Collaborations with renowned designers such as Giorgetto Giugiaro, Giovanni Michelotti and Marcello Gandini produced icons that have made a lasting impression on the brand. “BMW has harnessed Italian influences to create automotive design that blends class and elegance with modern forms and functionality. The combination of Italian design and German engineering excellence was a key driver of BMW’s growth into a premium manufacturer,” explain curators Anna Schleypen and Klaus-Anton Altenbuchner. The exhibition illustrates this development with a variety of design sketches from the BMW Design Archive, a selection of exhibits and 23 historic vehicles, and provides a captivating insight into the design history of BMW.

A tour of the exhibition
“Belle Macchine. Italian Automotive Design at BMW” extends over five platforms and ramps within the BMW Museum’s iconic “Bowl”. It starts with a general introduction into the world of Italian design, citing examples of the country’s endeavours in the fields of fashion and product design. The impact of noted Italian studios on the design of bodies for BMW vehicles occupies much of the exhibition space. For example, the BMW Garmisch concept car penned by Marcello Gandini represents the essence of Italian style and played a major role in the design of the original BMW 3 Series and 5 Series of the 1970s. As is clear from the numerous production cars on display, such as the popular BMW 1800 TI/SA, the stylistic influence of Italian designers was leveraged to successful effect by a large number of models. BMW’s acquisition of fellow carmaker Glas is also brought under the spotlight with a three-strong line-up including the BMW 3000 V8, affectionately known as the “Glaserati”. The exhibition continues with a showcase of perfectly formed one-offs like the BMW Pininfarina Gran Lusso Coupé, BMW 2800 GTS Frua and BMW Nazca M12 designed by Fabrizio Giugiaro. These models were commissioned by the company to serve as sources of creative inspiration or put forward by the Italian designers themselves to ensure they were part of the conversation when BMW was scouting for partners. 

On the ramps between the platforms, visitors are taken on a visual road-trip with stop-offs including the legendary Concorso d'Eleganza Villa d'Este on the shores of Lake Como – a beauty contest for historic vehicles of unparalleled tradition. The design drawings on show here provide further evidence of the artistic signature of Italian designers. The exhibition finishes on a high with a model of the BMW Vision Neue Klasse – the modern successor to the Italian-flavoured original Neue Klasse of yesteryear – and special study vehicles such as the BMW M1 Hommage. These cars see BMW recognising the achievements of the Italian designers of the time and re-interpreting its own design history as a source of inspiration for its latest creations.

In another visual highlight, the exhibition area is enveloped in a 360-degree display – projected onto the walls of the “Bowl” – that showcases the work of Italian artist Giorgio de Chirico, who studied for a time in Munich.  

Munich. At a meeting of the Supervisory Board held following the Annual General Meeting of BMW AG, Dr. Nicolas Peter was elected its chairman. 86.21 percent of shareholders had elected earlier, at the BMW AG Annual General Meeting, Dr. Peter to the Supervisory Board for a four-year term.

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

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

The Annual General Meeting has also elected Dr. Marc Bitzer, Ms. Rachel Empey, Ms. Anke Schäferkordt and Prof. Dr. Christoph Schmidt to the Supervisory Board for another four-year term.

BMW Group Corporate Communications

Sebastian Keßler, Communications BMW Group, Strategy

Telephone: +49 89 382-21616

Email: Sebastian.KE.Kessler@bmwgroup.com

Dr. Dominic Stoiber, Communications BMW Group, Strategy

Telephone: +49 89 382-51137

Email: dominic.stoiber@bmwgroup.com

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

Telephone: +49 89 382-24118

Email: max-morten.borgmann@bmwgroup.com

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

Email: presse@bmwgroup.com

The BMW Group

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

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

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

www.bmwgroup.com

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

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- Check against delivery –

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

The BMW way – for the success of your company.

Dear Shareholders!

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

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

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

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

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

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

We make decisions with a long-term perspective.

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

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

Today, our environment is more dynamic than ever.

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

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

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

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

We have invested a considerable amount of money.

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

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

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

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

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

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

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

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

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

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

Let me begin with my first point: our strategy.

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

•      “BMW late winner of the drivetrain transition”.

•      “How BMW went from laggard to magician”.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

The US market was also up by over 20 percent.

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

My second topic for today is our goals.

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

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

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

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

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

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

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

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

What matters most to you, as shareholders, is:

What are our plans for 2025?

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

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

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

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

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

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

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

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

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

Punitive tariffs, rising regional isolation, technological decoupling:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Movie

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

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

Movie

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

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

Driving scene

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

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

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

Dear Shareholders!

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

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

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

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

Thank you!

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

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

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

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

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

Far-reaching vision,international growth and electromobility

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

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

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

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

Supervisory Board sets course for continuity at the company

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

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

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

BMW Group Corporate Communications

Sebastian Keßler, Communications BMW Group, Strategy

Telephone: +49 89 382-21616

Email: Sebastian.KE.Kessler@bmwgroup.com

Dr. Dominic Stoiber, Communications BMW Group, Strategy

Telephone: +49 89 382-51137

Email: dominic.stoiber@bmwgroup.com

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

Telephone: +49 89 382-24118

Email: max-morten.borgmann@bmwgroup.com

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

Email: presse@bmwgroup.com

The BMW Group

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

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

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

www.bmwgroup.com

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

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- Check against delivery –

Ladies and Gentlemen,

As a global player, the BMW Group operates within the current tensions of world politics. Like many sectors of the global economy, we are adjusting to a new reality – one in which abrupt changes in external conditions often have far-reaching consequences, not just for our industry.

In these circumstances, it is critical not to get caught up in the public frenzy or rush into hasty actions. That is why we continue to focus on our long-term strategic course with pragmatism and flexibility.

And this approach is proving its value: Despite the volatile conditions, the BMW Group has started 2025 in line with our expectations.

There are three main reasons for this:

First, our fresh and attractive product line-up across all drive technologies – which helped us achieve a robust performance, especially in Europe and the US.

Second, continued strong sales growth for our all-electric vehicles.

And, third, a high standard of cost discipline across the company.

All of this meant that, despite various influencing factors, our profitability for the first quarter was in the upper half of our guidance.

Let's take a closer look at the details:

In all major sales regions outside of China, we increased our sales, compared to the same period of last year. Excluding China, sales grew by almost six percent (5.9%).

This confirms the effectiveness not only of our product strategy, but also of our technology-open approach. Our vehicles are in demand, across all types of drivetrain.

We saw particularly good growth in Europe and the US – with sales in Europe up solidly by more than six percent and an increase of four percent in the US.

We are growing steadily across the entire Americas region, with growth of over 5 percent. We are also growing overall in our markets outside Europe, America, and China by 15 percent. Thanks to our strong performance in other markets, we were able to nearly offset the persistent challenges in the Chinese market.

We have the right products on the market at the right time. Our wide range of all-electric vehicles across all brands allows us to take full advantage of the growing demand for pure electric vehicles.

The more than 32-percent increase in BEV sales underlines the strong appeal of our electric vehicles. Above all, high demand in Europe fuelled this growth in BEVs. Here, sales of fully-electric vehicles climbed by more than 64 percent year-on-year. E-mobility “made by BMW” is also gaining popularity in the US, with sales up by more than 23 percent.

Nearly one in five vehicles sold by the BMW Group is now fully-electric.

The total share of electrified vehicles – that is, pure electric cars plus plug-in hybrids – now exceeds 25 percent.

MINI, in particular, is benefiting from the strong demand for all-electric vehicles. Today, an electric heart beats in one out of every three vehicles built by the brand. With all models of the New MINI Family now fully available, the brand recorded sales growth of four percent. In China, locally-built electric models played a key role in the brand’s growth of over 18 percent.

The share of fully-electric vehicles in total sales is especially important for meeting European CO2 targets. In 2024, the BMW Group once again significantly outperformed its European CO2 fleet target. Based on internal calculations, our numbers came in at under 100 grammes per kilometre in the WLTP cycle for the first time. We are confident that we will meet the original legal requirements this year as well.

In addition to the growth in all-electric vehicles, we also benefited from continued high demand for our sporty BMW M models – with sales up 5 percent in the first quarter. High-performance models such as the two BMW M5* variants and the BMW M3* were the main growth drivers.

Ladies and Gentlemen,

The first quarter of 2025 highlighted our company’s ability to seize opportunities in a challenging environment and to successfully defend our position in the marketplace.

Looking ahead, new orders across all drive technologies give us every reason for confidence – especially in Germany, where we are seeing significant growth.

Nevertheless, 2025 remains a year of high volatility. We are closely monitoring developments and preparing for different scenarios. This will enable us to respond flexibly and quickly to changing circumstances. We remain firmly committed to deliver robust results and to meet our ambitious annual targets.

Free trade and international cooperation are important drivers of growth and progress. They have always guided our actions. In trade conflicts, on the other hand, nobody wins. All sides should therefore avoid a spiral of isolation and trade barriers, and instead promote growth, progress and innovation worldwide.

We are advocating for this at various political levels in our markets. Thanks to our international footprint and strong, long-term commitment in various countries, we enjoy a high level of credibility. That is why people listen to us attentively and our arguments are well received.

Ladies and Gentlemen,

It is especially important in challenging times that we continually assess the situation in our markets and regions. That is why I have spent significant time in the past few months gathering information about the situation on the ground in our most important markets.

Just two weeks ago, I was at Auto Shanghai. This trade show provides a valuable indicator for current trends – especially for the Chinese market.

One of the highlights was the world premiere of our BMW Vision Driving Experience, or VDX for short. This is the most powerful development prototype BMW has ever built. The key data speaks for itself:

• 18,000 Newton meter of torque.
• 1.2 tonnes of Downforce.
• Lateral forces of up to 3 g.

These are the kind of numbers you usually only see in top-of-the-range racing cars.

The VDX is a pure test vehicle, designed to push the limits of driving physics. However, many of its technologies will be used in our NEUE KLASSE.

In particular, the VDX showcases the performance capabilities of our “Heart of Joy” – one of four high-performance computers that will control key functionalities, such as driving dynamics, automated driving and infotainment in our NEUE KLASSE.

The “Heart of Joy” clusters all drivetrain and driving dynamics functions in a single, standardised electronic control unit. In combination with our dynamic performance control system – which was developed entirely in-house – we are redefining the BMW brand’s most fundamental core characteristic.

We are creating “the next level of Sheer Driving Pleasure”.

We demonstrated exactly what this means with an incredible live performance in Shanghai. For this purpose, we built our own test track with a massive ramp.

The public and trade press were more than impressed with the performance and possibilities unleashed when we combine our decades of experience in driving dynamics with cutting-edge control technology. This is something only we at BMW can do.

Our customers will benefit directly from this – because a system that can manage forces like these can also handle everyday operations with ease: not just in terms of agility and driving stability, but also efficiency and comfort.

Towards the end of the year, series production of the NEUE KLASSE will begin at our new plant in Debrecen, Hungary – starting with the BMW iX3*, which will celebrate its world premiere at the IAA MOBILITY in Munich.

After that, the rollout will continue in rapid succession. In 2026, production of a sporty sedan at the heart of the BMW brand will get underway at our main plant in Munich.

We are deliberately launching the NEUE KLASSE in high-volume segments, so that our innovations can immediately have a broad impact.

Between now and 2027, we will release more than 40 new or updated BMW models onto the market – from BEVs, to plug-in hybrids, to vehicles with combustion engines. All of these will benefit from the technologies of the NEUE KLASSE – and, of course, from the new design language as well.

No other manufacturer has a project as comprehensive and ground-breaking as ours ready for production.

Ladies and Gentlemen,

With its broad product portfolio across all brands, its technology-open approach and highly flexible production network, the BMW Group is in an excellent position to exploit growth opportunities as they arise.

Thanks to our global footprint, we are also able to respond quickly to changes in individual regions, as well as challenges around the world.

We will continue to build on these typical BMW strengths in future.

Thank you.

- Check against delivery –

SLIDE 2: BMW Group Quarterly Statement to 31 March 2025

Ladies and Gentlemen,

Good Morning.

In a highly dynamic environment, the BMW Group has delivered sales and profitability for the first quarter in line with expectations.

Our core business has a strong foundation of highly attractive products and is well diversified. With a balanced presence in our sales regions, we have a strong competitive position and are able to deliver a consistent performance.

In the first quarter, the BMW Group proved this once again.

SLIDE 3: BMW Group Performance in Q1 2025

Let’s take a detailed look into the key figures for the first quarter.

Group earnings before tax totalled over 3.1 billion euros.

Based on Group revenues of 33.8 billion euros, this resulted in a Group EBT margin of 9.2 percent.

The EBIT margin in the Automotive segment came in at the upper end of our 2025 annual target corridor with 6.9 percent.

Excluding the depreciation resulting from the purchase price allocation of BBA, the margin was 8.1 percent.

Global retail sales decreased slightly by 1.4 percent compared to last year’s first quarter.

Sales of all-electric vehicles increased by 32.4 percent, which represents a share of 18.7 percent of total sales.

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

Here you can see how the Automotive Segment performed across key metrics.

In the first quarter, the BMW Group delivered just over 586,000 BMW, MINI and Rolls-Royce vehicles to customers, a slight decrease of 1.4 percent compared to last year’s first quarter.

While the BMW brand was slightly down 2 percent year-on-year, the MINI brand benefited from the full availability of all models and reported a growth of 4.1 percent.

Group sales grew across all regions except China.

Here, the lower run-rate of the second half of 2024 has carried over into the first quarter of 2025, as expected.

The sales development in the Chinese market in Q1 was also impacted by the model changeover of our important BMW X3 and operational challenges in certain areas of the dealer network.

In Europe, the BMW Group increased retail sales solidly by 6.2 percent.

The order intake for BMW vehicles in the region across our entire product portfolio is strong, with an order bank reaching well into the third quarter.

In particular, BEV retail sales grew by 64.2 percent in Europe, confirming the region’s crucial role in driving our electrification strategy.

In the US, year-on-year retail sales grew by 4 percent.

Our commitment to electrification remains an important cornerstone of our strategy. And the demand for our all-electric vehicles remains strong.

In the first three months, the BMW Group delivered almost 110,000 all-electric vehicles to customers worldwide, representing a significant growth of almost a third (32.4 percent).

The share of our all-electric vehicles amounted to 18.7 percent of total sales.

Our electrified vehicles – meaning BEVs and plug-in hybrids –accounted for almost 27 percent of total sales.

With our comprehensive and compelling line-up of electrified vehicles we remain confident that we will meet our CO2 emission targets in the EU for 2025.

Automotive Segment revenues amounted to 29.2 billion euros and were moderately lower than in the same quarter of 2024, mainly due to lower vehicle sales to dealers.

Segment EBIT for the first three months was 2 billion euros, with an EBIT margin of 6.9 percent.

Let’s now have a detailed look at the year-on-year changes in the operational result on the next slide.

SLIDE 5: Automotive Segment EBIT in Q1

Auto EBIT declined by around 700 million euros compared to the first quarter of 2024.

Changes in currency and raw material positions accounted for a positive impact of around 100 million euros.

The net balance of volume, model-mix and pricing effects was a headwind of 900 million euros compared to the first quarter of 2024.

The pricing headwind compared to Q1 2024 reflects the global price environment and especially the challenges of the highly competitive Chinese market.

In China, the price levels of the second half of 2024 continued into the first quarter, as expected.

Accordingly, Q1 revenues per vehicle in the Automotive segment were below the level of Q1 2024.

For the full year, they are expected to be in line with last year’s level.

Ladies and Gentlemen,

I emphasized at our Annual Conference that for the year 2025, not only R&D expenditure and capex, but also operational costs will decrease compared to 2024.

Our Q1 results provide first evidence for this cost decrease in nominal terms, covering the effects of inflation.

Research and development expenses were around 200 million euros lower than in Q1 2024.

Based on Group R&D expenditure, the R&D ratio according to the German Commercial Code came in at 5.9 percent.

Sales and administrative expenses also decreased year-on-year by about 200 million euros, mainly due to lower IT costs.

In Other Cost Changes, the headwind of 300 million euros essentially results from two topics:

• The income from the resale of end-of-lease vehicles was lower than in the first quarter of 2024, yet remains positive on average across the portfolio.
• The anti-subsidy tariffs imposed by the EU Commission on electrified vehicles from China impacted EBIT in the low three-digit million euros range in Q1.

The other tariff increases only started to come into effect from early March and therefore had minimal impact on the Q1 results.

SLIDE 6: Automotive Segment Free Cash Flow in Q1

Free cashflow in the Automotive Segment totalled about 400 million euros in the first quarter of 2025.

Segment EBT amounted to 1.9 billion euros, which is 800 million euros lower than in the first three months of 2024.

The net change in working capital contributed around 100 million euros to free cashflow.

Inventories rose during the first quarter, as production exceeded retail sales and wholesale volumes.

While this is typical first quarter seasonality, this year’s Q1 stock increase is much less pronounced than in previous years.

The impact of increased inventories as well as of higher trade receivables was compensated by the development of trade payables, which increased also due to higher production levels.

The net effect from capital expenditure and depreciation reduced free cashflow by 600 million euros.

This includes a positive component with invest lower than depreciation in the first quarter.

On the other hand, it also incorporates a higher cash outflow of 964 million euros in Q1, which is related to the capex peak in the last quarter of 2024.

Capital expenditure for January to March amounted to around 1.2 billion euros, a year-on year reduction of around 100 million euros.

The capex ratio for the first quarter was 3.6 percent.

For the full year 2025, capex will decrease compared to 2024, with an expected capex ratio below 6 percent.

The development of provisions reduced free cash flow by 200 million euros.

The change in the position other, which includes regular tax payments, led to a reduction in free cashflow of around 800 million euros.

For the full year, the BMW Group is targeting a free cashflow above 5 billion euros in the Automotive segment.

At the end of the first quarter, the Automotive net financial assets came in at 45.5 billion euros, which is around the same level as at the end of 2024.

This provides a solid foundation to navigate the current challenges in global markets.

And it enables us to distribute our Automotive Free Cashflow via dividends and share buybacks.

Ladies and Gentlemen,

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

On April 3rd, we successfully concluded the fourth and final tranche of our second share buyback program.

With completion of this program, we have repurchased shares valued at 4 billion euros since the start of our share-buyback authorization in 2022.

This corresponds to a reduction in share capital of over 7 percent.

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

SLIDE 7: Financial Services Segment in Q1

Moving on to the Financial Services Segment.

The number of new contracts concluded with retail customers decreased slightly by 4.6 percent year-on-year to reach almost 403,000 contracts.

For new vehicles, new business units were on par with last year’s quarter.

Consequently, the penetration rate for lease and loan offerings increased by 1.2 percentage points to 43 percent.

For used vehicles, new business units decreased moderately, due to the lower number of end-of-lease vehicles that were returned compared to the first quarter of 2024.

New business volume grew by 2.4 percent to 16 billion euros, driven by a higher average financing amount per contract.

Segment earnings for the first quarter amounted to 650 million euros, a year-on-year decrease of 80 million euros.

This results mainly from two factors:

• The lower income from the resale of end-of-lease vehicles due to reduced average gains per unit.
• And the lower number of returned vehicles compared to 2024.

The credit loss ratio across the entire loan portfolio remained at a low rate of 0.23 percent.

SLIDE 8: Motorcycles Segment in Q1

In the Motorcycles Segment, first-quarter deliveries decreased slightly by 3.9 percent year-on-year.

EBIT for the first three months totalled 76 million euros, with an EBIT margin of 9.4 percent.

SLIDE 9: Outlook 2025

Ladies and Gentlemen,

Let’s move to our outlook for 2025.

Our guidance given at the Annual Conference on March 14th included all the tariff increases in force as of March 12th.

Since then, political and macroeconomic volatility has increased even further.

Due to ongoing developments and negotiations, the expected effects from tariffs on 2025 results can only be estimated based on certain assumptions.

So, we have taken the latest impact as of May 5^th, meaning tariffs on US imports of CBU (= completely built up) and non-USMCA components at an additional 25%. But on the other hand, the executive order from last week regarding non-stacking and the eligibility of 3.75% of MSRP for the Spartanburg production volume has some positive impact, given our strong local footprint in the US.

And the extremely high tariffs for imports from the US to China are neglectable, given we also have a strong local footprint in China.

In particular, the localization of the X5 in 2022 helps mitigating.

And still, the tariff increases that started to come into effect from early March will have a notable impact on the Q2 results.

We assume that some of the tariff increases as of May 5th or up to May 5th will be temporary and that there will be reductions from July 2025.

Our guidance also includes measures to mitigate the impact of higher tariffs.

Based on these assumptions, our guidance parameters for the full year remain unchanged.

Group earnings before tax are expected to be at previous year’s level.

In the Automotive segment, we are forecasting a slight increase in deliveries.

The EBIT margin is expected in a corridor between 5 and 7 percent.

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

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

SLIDE 10: Q1 Performance in Line with Expectations

Ladies and Gentlemen,

The BMW Group delivered as expected in the first quarter with an EBIT margin at the upper end of our full-year target corridor.

The geopolitical and macroeconomic uncertainty has reached a level we have rarely seen before.

We are closely monitoring the impact of the current macroeconomic conditions on consumer sentiment.

It is therefore all the more important that we continue to follow our long-term strategic plan.

This includes using the flexibility of our global network to mitigate the impact of the current developments.

And it includes disciplined spending – be it R&D, capex or operating costs.

As we walk the talk, nominal cost reductions are already visible in our Q1 figures.

Our clear long-term strategy, our strong brands and products and the high level of cost discipline throughout our entire organisation remain the basis for our long-term financial success.

Thank you.

Munich/Cernobbio. On 23 – 25 May 2025, BMW Group Classic will host the legendary Concorso d’Eleganza Villa d’Este in cooperation with the Villa d’Este luxury hotel. The partnership has been running for 20 years in its current form.

Around 50 of the most spectacular cars of their eras will do battle in the following competition classes for the coveted prizes. Most prestigious of all is the “Trofeo BMW Group”, awarded by the high-calibre Jury to the overall winner of the Concorso d’Eleganza.

Class A
Glorious Excess: The Evolution of the ‘Money no Object’ Motor Car, 1920-1940

Class B
Sculpture in Motion: The Decade of the automotive Arms Race, 1928-1938

Class C
Renaissance: The Post-War European Sports Car comes of Age

Class D
Titans of the Track: When the Boss says “Let´s race!”

Class E
Frozen in Time: Preservation ‘Time Capsules’ from 1900-1973 which have survived in unrestored State

Class F
“Go Big or Go Home”: Automotive Excess of the ‘80s to the new Millenium, when nothing seemed too fast, expensive or bold

Class G
Vanishing act: Gone but proudly not forgotten

Class H
Style matters: Opulence meets Elegance before Times change forever

Prizes will also be awarded once again to spectacular concept cars from a variety of manufacturers competing in a separate class with a rich tradition.

The Concorso d’Eleganza parade on the terrace of Villa d’Este will take place in customary style on the Saturday of the event. Beyond the “Trofeo BMW Group - Best of Show” top prize, the participants and competing vehicles at the Concorso will each battle it out for victory in their individual categories, for the “Coppa d’Oro” prize awarded by Public Referendum and for an array of other distinctions such as the “Trofeo del Presidente”, which will be presented by Helmut Käs, Head of BMW Group Classic and President of the Concorso d’Eleganza Villa d’Este. Star opera singer and BMW Group Classic brand ambassador Jonas Kaufmann will again present the “Trofeo Il Canto del Motore” for the best engine sound, as chosen by the Jury.

The Concorso d’Eleganza Villa d’Este will provide the stage for spectacular BMW Group world premieres once more this year. The BMW brand will celebrate the premiere of an elegantly sporting one-off designed to provide motoring pleasure for two; BMW Motorrad will present a case study in unbridled adrenalin on two wheels; and BMW M GmbH will bring several high-performance models to Lake Como, including a world premiere.

The 2025 calendar contains a multitude of anniversaries that will be honoured in suitable style at the Concorso d’Eleganza Villa d’Este. This will be the first time that all of the still-surviving original body variants of the BMW 328 that lined up for the 1940 Mille Miglia have come together to be displayed – so it is a truly unique occurrence. The cars include the victorious BMW 328 Touring Coupé and the legendary BMW 328 “Mille Miglia” Series 1 roadster (nicknamed the “Trouser Crease Roadster”). BMW finished the race in 1st, 3rd, 5th and 6th places, and also won the prize for regularity and the team award in all classes.

BMW Group Classic will bring a number of cars from its collection to Cernobbio to help mark a handful of other anniversaries. One of the headline acts in the crowd-pulling grounds of Villa Erba will be an array of different BMW 3 Series models of all generations reflecting 50 years of the 3 Series. Meanwhile, a pair of BMW icons from the 1950s – the BMW 507 and 503 – notch up their 70th birthdays this year and will be integrated across the event programme in fitting style. Not to be forgotten and likewise on the Lake Como bill will be the BMW Isetta, itself turning 70 in 2025. The 50th anniversary of the legendary BMW Art Cars will be embodied by Sandro Chia’s Art Car no. 13 (a BMW M3 GTR). Rolls-Royce Motor Cars is also celebrating a special milestone, the centenary of the launch of the very first Phantom – the pinnacle model in the marque’s portfolio.

Broad Arrow Auctions – a Hagerty (NYSE: HGTY) company – is the official auction house partner of the Concorso d'Eleganza Villa d'Este. In this its first year in the role, it will auction a selection of extraordinary collectors’ vehicles. The auction will take place over two days in the grounds of Villa Erba. An independent auction focusing on BMW cars will be held on the evening of Saturday, 24 May. Among the examples in the sale will be a BMW 507 Series II from 1958, a 1981 BMW M1 and a BMW Z8 from model year 2000. The main auction – open to all brands – is scheduled for Sunday, 25 May. Consignors wanting to offer exceptional vehicles for auction at the Concorso d'Eleganza Villa d'Este are asked to contact a Broad Arrow Auctions specialist on +44 20 4592 0169 (UK/Europe) or +1 313 312 0780 (North America), or via e-mail at info@broadarrowauctions.com. A wide selection of collector cars on offer are already available for viewing at broadarrowauctions.com.

BMW Group Classic thanks its partners A. Lange & Söhne, Broad Arrow Auctions, VRANKEN-POMMERY MONOPOLE and Schedoni Luxury Goods SRL for their support.

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

“This year’s edition of the Concorso d’Eleganza Villa d’Este is set to be another wonderful event featuring myriad highlights. The vehicles entered in the concours and their owners represent the focal points and centrepiece of the event. Awaiting us is an exciting competition for the coveted prizes, first and foremost the “Trofeo BMW Group – Best of Show”. But that’s not all: we have three world premieres from BMW to look forward to and will be celebrating several fantastic anniversaries. The special exhibition of all the surviving cars that raced to glorious overall victory for BMW in the 1940 Mille-Miglia is particularly close to my heart. Guests can experience this and much more – not only at Villa d’Este but also once again on the public days in the gardens of Villa Erba.”

Davide Bertilaccio, CEO Villa d'Este Hotels:

“The Concorso d'Eleganza has been part of the history and tradition of Villa d'Este for almost a century now, and we feel honoured to be able to welcome vehicle owners from around the world – together with cars of rare beauty and value – year in, year out. It all represents the perfect match for the elegance and scenic allure of this timeless setting on the shores of Lake Como. We are proud of our ongoing collaboration with BMW Group Classic and will be pulling out all the stops to offer our guests and classic vehicle enthusiasts an unforgettable weekend.”

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

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

Keep up to speed via the following channels:

Concorso d’Eleganza Villa d‘Este App for iOS and Android

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

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

BMW Group Classic Media Server for downloads: 

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

Please do also download the official app in your trusted app store.

- Check against delivery –
 
Statement
Oliver Zipse
Chairman of the Board of Management of BMW AG
Annual Conference 2025
BMW Welt in Munich, 14 March 2025, 08:00 a.m. CET
 
Part I:
 
Good Morning, Ladies and Gentlemen.
 
Welcome to our annual conference.
 
2025 will be a milestone year for the BMW Group in many respects – as we set the course today for our success in the decade to come.
 
Despite volatile global conditions, we remain firmly committed to growth in the current financial year. At the same time, we are bringing our largest future-focused project, the NEUE KLASSE, to the roads.
 
We have a clear plan: We remain sharply focused on innovation and sustainable growth. In 2025, we expect sales figures to rise once again. At the same time capital expenditure will decrease, as planned. This will enable us to increase our free cash flow.
 
There are four reasons for our confidence:
 
 
First:
Our strategy is robust and gives us a clear path forward. We are setting the pace in key areas. Our technology open approach remains successful and is gaining more traction. Policymakers and competitors are pivoting in our direction – which we continue to pursue systematically.
 
Second:
The BMW Group is one of our industry’s few true global players. Our extensive global footprint creates opportunities. It makes us resilient. And it provides the flexibility we need to respond effectively to external influences.
 
Third:
With BMW, MINI, Rolls-Royce and BMW Motorrad, we have four strong brands. All of them are incredibly popular around the globe. Each has its own distinct identity and delivers emotionally compelling products for different target groups.
 
And fourth:
Our NEUE KLASSE: No other manufacturer has a project as ambitious and ground-breaking as ours about to enter production. I will come to this in the second part of my presentation.
 
Let's start with the first topic: our strategic direction.
Our technology-open approach is market-oriented. It allows us to fully leverage the available potential across all markets and regions.
 
We make no distinctions – whether we are talking about combustion engines, plug-in hybrids, all-electric vehicles or, from 2028, a hydrogen-powered car. We consistently implement design principles, innovation and the latest technologies in all our vehicles.
 
No one masters this technological diversity better than we do. Numerous national and international accolades confirm this.
 
Our approach is also gaining increasing recognition in political circles. Even our competitors are pivoting towards our strategy. We have proven that technological openness, growth and CO₂ reduction are very much compatible.
 
Let’s take a look at 2024:
 
We met our adjusted targets for the year. We delivered more than 2.45 million vehicles and achieved an EBIT margin of 6.3 percent in the Automotive Segment.
 
Our vehicles with highly efficient combustion engines remain in strong demand worldwide. At the same time, battery-electric vehicles continue to be our main growth driver.
 
Several other manufacturers – including some that only produce electric cars – saw a decline in sales. But we achieved growth with our all-electric vehicles. Even in challenging market conditions. In 2024, BEV sales once again climbed significantly year-on-year – increasing by more than 13 percent.
 
Fully-electric vehicles accounted for over 17 percent of total sales last year. Including plug-in hybrids, nearly one in four vehicles sold was electrified.
 
We are targeting further growth in e-mobility in 2025. We will hit two major milestones this year: We will reach the total of more than three million electrified vehicles and over 1.5 million BEVs sold since the launch of the BMW i3 and BMW i8.
 
Our customers can choose between over 15 BEVs across all our brands. One example is the new edition of the BMW iX*: The recently presented model update boasts an impressive electric range of over 700 kilometres in the WLTP cycle – with significantly more drive power.
 
That is BMW EfficientDynamics.
Our combination of electrified vehicles and highly efficient combustion engines also has a positive impact on our climate footprint. In 2024, the BMW Group once again outperformed its European CO2 fleet target – by more than 30 grammes. Based on our internal calculations, our fleet emissions fell below 100 grammes per kilometre in the WLTP cycle for the first time.
 
We will continue to ensure that our customers always have access to the latest technology – across all drivetrains. The key to achieving this lies in our production network’s high level of flexibility.
 
That brings me to my second point:
our global footprint.
 
The BMW Group is a true global player. Very few automotive manufacturers have such a comprehensive presence across all relevant economic regions as we do. Be it in sales, research and development, production or our supplier network. This combination gives us a strategic advantage that sets us apart from the competition in an increasingly fragmented world.
 
We remain committed to expanding our local for local approach. We are constantly improving our access to different market regions and strengthening our resilience, especially along supply chains.
One example of this is our high-voltage battery assembly plants in the three major sales regions: Europe, the Americas and China. In total, five new assembly facilities for the next generation of high-voltage batteries are being built near our production sites worldwide – complete with a local supplier network. In this way, we are already creating the necessary conditions today for successful growth in the future.
 
We are gradually adapting our production network to rising sales of electric vehicles. Late this year, our new plant in Debrecen, Hungary will become our first facility to exclusively produce all-electric vehicles. Our main plant in Munich will follow in 2027.
 
Our production follows the market and our product range aligns with demand. We build roughly the same number of vehicles in our three key market regions of Europe, the US and China as we sell there. This balanced distribution is another key differentiator for the BMW Group.
 
At the same time, Germany and the US serve as key export hubs for us. In 2024, we manufactured over one million vehicles at our plants in Germany. This represents about a quarter of the country’s total car production. 56 percent of these vehicles are then exported outside the European Union.
An impressive proof of the BMW Group's significant contribution to industrial value creation in Germany.
 
In the US, one out of every two vehicles from our Plant in Spartanburg, South Carolina, is exported. Last year, we achieved an export value of over 10 billion US dollars. This once again makes the BMW Group the largest automotive exporter in the United States by value. We benefit from an integrated global economy. That is why we continue to advocate for open markets and free trade.
 
Third point: the performance of our brands.
 
The success of the BMW Group is built on the global appeal and resonance of our four brands. At the same time, we know how to fulfil the specific needs and preferences of our customers in different markets with our products.
 
Last year, our core BMW brand leveraged its strength to the full: In three out of four regions, BMW grew sales and gained market share. This has enabled BMW to maintain its number one position in the global premium segment.
 
BMW performed particularly well in Europe. Italy, Spain, France and the UK led the way, with all reporting double-digit growth rates.
With a six-percent increase, the brand significantly outperformed the overall European market, which only grew by just over one percent.
 
In the US market, we achieved record sales for the second consecutive year. Here, too, the strength of our market-driven approach to drivetrains is delivering results. Thanks to our steadily growing BEV portfolio, we sold more than 50,000 electric vehicles in the US for the first time. With this momentum, we are optimistic about the year ahead, as we celebrate “50 years of BMW North America”.
 
In our markets outside the main sales regions, we also posted growth, in a declining environment overall. In this region, we lead the premium segment in total for the first time ever. The main growth drivers here included the South Korean, Australian and Indian markets.
 
China remains a key market for the BMW Group. In 2024, we sold more than a quarter of all our vehicles there. The market is highly dynamic and characterised by increased competitive pressure. In this environment, BMW maintained nonetheless its position as the number one in its segment with a market share of three per cent. This put us within our target range.
 
In 2024, we delivered over 100,000 BEVs to customers in China for the first time. This makes China our biggest single market for electric vehicles – even though our sales performance there was dampened last year by persistently low consumer sentiment.
 
The high-margin vehicles built by BMW M once again played an important role in our market success in 2024. For the 13th consecutive year, M sales increased. Nearly one in ten BMWs sold carried the letter M. Demand for the sportiest BMW models has continued to grow, especially in China.


2025 is the first year with the complete New MINI Family available. And we will exploit this potential.
 
There are a total of five unique models to choose from – three of them BEVs. The fully-electric MINI models – with the MINI Cooper Electric* leading the way – are being particularly well received. With an increase of 24 percent year-on-year, sales of MINI BEVs also saw highly dynamic growth last year. Nearly one in four MINIs is now powered by an electric heart.
 
In the ultra-luxury segment, Rolls-Royce continues to set the benchmark. At more than 5,700 units, Rolls-Royce sales remain high.
Most notably, the all-electric Spectre exceeded expectations in its first full year of sales. Every third Rolls-Royce sold is now fully-electric.
 
BMW Motorrad also impressed in 2024, achieving a new all-time sales high of over 210,000 units. BMW Motorrad remains the undisputed number one in the global premium motorcycle segment.
 
Ladies and Gentlemen,
 
All of this shows that the BMW Group is well positioned across all brands, drive technologies and segments to continue on its growth path. With our global approach, we have the right answers to challenges worldwide. This has often enabled us to offset fluctuations in demand in individual markets.
 
Now, it is time for Walter Mertl to present the Group Financial Statements for 2024 and look ahead to our goals for 2025.

 
Part II:
 
Ladies and Gentlemen,
 
Growth and innovation – these are two of the main topics we will be focusing on this year. At the same time, we stand on the threshold of a new era.
 
Late this year, we will launch our NEUE KLASSE: a project that is unprecedented in both form and significance in the history of the BMW Group.
 
With the NEUE KLASSE, we will be turning the mobility of the future into reality. Driving dynamics, drivetrain, battery technology, operating concept, digitalisation: We have refined each of these aspects and, in the case of design, even skipped a generation.
 
In this way, we are redefining not only the BMW brand, but also the future of individual mobility.
 
Standing here next to me is the BMW Vision Neue Klasse X: the series version of this vehicle will kick off the NEUE KLASSE. Production will ramp up at our new plant in Debrecen late this year.
After that, the rollout will continue in rapid succession, including a sporty sedan at the core of the BMW brand in 2026.
 
We are deliberately starting out in high-volume segments: We want our innovations to have a broad impact, not just in niche segments.
 
Between now and 2027, we will release more than 40 new or updated BMW models onto the market – from electric to plug-in hybrid to vehicles with combustion engines. Each will have the DNA of the NEUE KLASSE.
 
The NEUE KLASSE is BMW and BMW is the NEUE KLASSE.
 
The NEUE KLASSE is more than just a single vehicle. It marks the beginning of a completely new generation and introduces our technology boosters for the entire brand. Regardless of the drive technology, all future BMW models will benefit from the technologies of the NEUE KLASSE – and, of course, also from the new design language.
 
Allow me to share a few examples of our groundbreaking advances in technology:
 
With the BMW Panoramic iDrive, we are re-imagining our typical BMW driver orientation. The all new BMW Panoramic Vision is the centrepiece. This newly-developed additional Head-Up Display projects content across the full width of the windscreen.
 
Seamless integration of various display and operating elements enables a completely new level of intuitive interaction. From the launch of the very first model of the NEUE KLASSE, all future BMW models will come with BMW Panoramic iDrive.
 
The sixth generation of our BMW eDrive technology will make e-mobility even more appealing to our customers. The new BMW round cells promise 20 percent higher energy density, 30 percent faster charging and at least 30 percent more range. And within just 10 minutes, enough energy for another 300 kilometres can be recharged.
 
For the first time, the Gen6 high-voltage batteries also feature the latest 800-volt technology and enable bi-directional charging. Compared to the current fifth generation, we will reduce the cost of the high voltage battery by 40-50 percent, on a comparable electric range basis.
 
The electronics architecture has also been completely redesigned. Going forward, its four high-performance computers will control key customer functionalities. For example driving dynamics, automated driving and infotainment.
 
These “super-brains” deliver more than 20 times the in-vehicle computing power than current systems. This makes our models future-proof for software and function updates, as well as new AI features.
 
We have also greatly simplified the electrical system, dividing it into four zones, with intelligent control. 600 metres less wiring, a 30 percent reduction in weight and a 20 percent increase in energy efficiency are just some of the improvements we will achieve with this.
 
And, of course, we are also harnessing technical opportunities to take driving dynamics to a whole new level.
 
The BMW Vision Driving Experience showcases the potential of the technologies introduced in the NEUE KLASSE. We are pushing driving dynamics to its physical limits.
 
This highly emotional driving machine will thrill more than just BMW fans.
 
The VDX is the most powerful development prototype BMW has ever built. We are using it to test our “Heart of Joy” – one of the four super-brains in the NEUE KLASSE.
 
We developed the software for the driving dynamics control system entirely in-house. This will be used in all future electric BMW models, setting new standards for dynamic performance and efficiency.
 
It is hard to put into words exactly how it feels behind the wheel. You simply have to experience it.
 
Take a look for yourselves at what our “Heart of Joy” can do, paired with a maximum torque of 18,000 Newton meters.
 
You can't fake that kind of enthusiasm. Our Board of Management already had the chance to drive the series version of the NEUE KLASSE. Let me tell you: We were all equally excited about the driving experience – but not just in terms of pushing the physical limits. Most importantly, we were deeply impressed by the added value our technologies create for our customers in everyday situations.
 
This is truly the next level of Sheer Driving Pleasure.

Ladies and Gentlemen,
 
We first announced the NEUE KLASSE at our Annual Conference back in 2021. Today, just four years later, we are entering the final stretch.
 
Standing next to me is one of the prototype vehicles we have been producing in Debrecen since late last year.
 
What is still hidden under camouflage foil here will be unveiled at the IAA MOBILITY in Munich in early September. There we will present the production model that will be available to our customers.
 
I can already reveal one key detail to you today: this BMW will be released onto the market as the BMW iX3. This is how we continue the success story of the first all-electric BMW X model that has won over BMW fans worldwide since 2020.
 
Testing of the BMW iX3 is in full swing.
 
These impressions show that the next BMW iX3 is a typical X model, and a BMW through and through. As I’m sure you saw at the end of the film: The final phase of development for the sporty sedan, the second NEUE KLASSE vehicle, is also progressing rapidly.
Ladies and Gentlemen,
 
What has always set the BMW Group apart is that we keep our sights set on operational performance in the here and now. At the same time, we lay the foundation for our long-term future success.
 
We will continue to consistently pursue our BMW path – with foresight, customer focus, self-confidence and in the knowledge of our strengths.
 
We are ready. More than ever.
 
Thank you.
 

- 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.

Media accreditation phase for the Concorso d´Eleganza Villa d´Este 2025 starts from this day forward. (11am CET) 

The registration tool is available at:

https://www.concorsodeleganzavilladeste.com/press/

There you will also find all relevant information.

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: EESM 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 an option 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 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. 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. After the successful return of the BMW Motorrad Days to Garmisch-Partenkirchen in 2024, Garmisch-Partenkirchen will again become the international hotspot for all fans of the BMW Motorrad lifestyle and pure motorcycle culture in 2025.

From 4 to 6 July, BMW Motorrad will thrill its international community for the 20th anniversary at Garmisch-Partenkirchen at the Hausbergbahn with new product launches, exhibitors, shows, test ride opportunities, and last but not least, with the untamed Bavarian way of life and a great party atmosphere.

BMW Motorrad will announce more detailed information about the
BMW Motorrad Days 2025 in due time.

Press material on BMW motorcycles in the BMW Group PressClub at
https://newsroom.bmwgroup.com/global/en.

In case of queries, please contact:

Tim Diehl-Thiele, Head of Communication BMW Motorrad
Tel.: +49 89 382 -57505
Tim.Diehl-Thiele@bmw.de

Jens Lemon, Head of Communication MINI and BMW Motorrad
Tel.: +49-151-601-23635,
Jens.Lemon@bmw.de

Internet: www.press.bmw.de
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 motorbikes 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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Instagram: https://www.instagram.com/bmwgroup
LinkedIn: https://www.linkedin.com/company/bmw-group/

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 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 months as part of the BMW Digital Premium package for all vehicles with BMW Operating System 9. A special gimmick has been included that allows players to select a 3D model of the new BMW 2 Series Gran Coupé as a speedy underwater car and then race though a fictional underworld with it. Players chasing the high score have to avoid obstacles, break through barriers and collect boosters and power-ups.

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

BMW Lifestyle with exclusive, customised ApeFest collection.

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

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

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

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

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

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

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

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

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

In the event of enquiries please contact:

Corporate Communications

Cypselus von Frankenberg, Product Communication BMW Automobiles

Telephone: +49-89-382-30641

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

Alexandra Landers, Head of Product and Brand Communication BMW

Telephone: +49-89-382-30871

E-mail: Alexandra.Landers@bmw.de

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

E-mail: presse@bmw.de

The BMW Group

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

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

The success of the BMW Group has always been based on long-term thinking and responsible action. Sustainability is a vital element of the BMW Group’s corporate strategy, from the supply chain through production to the end of the use phase of all products.

www.bmwgroup.com

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Munich, Germany and Pune, Bengaluru, Chennai, India. The BMW Group and Tata Technologies, a global product engineering and digital services company, are proud to announce the official launch of their joint venture BMW TechWorks India with offices in strategic talent hubs Pune, Bengaluru and Chennai. With the final signing of the contracts and the approval of the authorities, the joint venture will initially start with 100 employees at these three locations and rapidly scale to four-digit number of employees by the end of 2025, with a strong focus on attracting top-tier Indian talent. The BMW Group and Tata Technologies each hold 50 per cent of the shares in this JV.

BMW TechWorks India complements BMW Group’s global strategy by engineering seamless, scalable software solutions for next-gen vehicles and delivering leading digital experiences. Tata Technologies’ proven capabilities across the entire product value chain, from conceptualization to detailed engineering and turnkey SDV development, will drive key software projects for the BMW Group’s premium mobility solutions and facilitate access to India’s impressive talents.

At the heart of this collaboration is the ethos of “Engineer in India for the World”. India’s exceptional engineering and IT talent will play a pivotal role in developing strategic software solutions for SDVs, automated driving, digital infotainment, and automotive digital services.

In addition to automotive software, the joint venture will provide digital innovations for the BMW Group's Business IT. Consequently, BMW TechWorks India will expedite the digital transformation of the car manufacturer's global production network, along with enhancing its digital customer journey and sales processes. Another key area of focus will be the development of AI applications and platforms, which will increase the speed and efficiency of all core business processes.

The JV offers young Indian professionals an unparalleled opportunity to work on breakthrough technologies that will shape the future of mobility on a global scale. The JV's commitment to nurturing local talent and innovating next-gen automotive innovations reinforces India’s emergence as a global innovation hub in the automotive tech ecosystem. Aspiring talent can apply here to be part of the JV and innovate solutions that deliver a global impact.

Christoph Grote, Senior Vice President of Electronics and Software BMW Group expressed his enthusiasm on the establishment of the JV: “BMW TechWorks India is a significant addition to our global vehicle software development initiatives. India’s software talent will be a great asset for our Software-Defined Vehicles of the future. With agile processes and state-of-the-art tools, engineers at BMW TechWorks India will co-create innovative automotive digital experiences, such as automated driving and next-gen infotainment systems.” 

Alexander Buresch, CIO, and Senior Vice President of BMW Group IT commented: “With BMW TechWorks India, we are steadily advancing our international IT-Hub strategy and broadening our global Business IT presence. The partnership with Tata Technologies represents a strategically important step and provides excellent conditions for developing innovative software solutions along our value chain. We are excited to welcome Indian tech talents to join us in driving the digital transformation of the BMW Group.”

Warren Harris, CEO and MD of Tata Technologies, said: “Our joint venture with the BMW Group, BMW TechWorks India, underscores our deep expertise in Software-Defined Vehicles (SDV) and reflects our commitment to driving innovation in both automotive software and business IT. By leveraging Tata Technologies' strong brand presence in India, this JV will attract top talent and provide a platform to develop forward-thinking solutions that redefine the future of mobility. We are excited to partner with the BMW Group in engineering premium, software-driven vehicles, enhancing digital experiences, and accelerating their digital transformation journey.”

Nachiket Paranjpe, President of Automotive Sales at Tata Technologies, commented: "The rapid evolution of automotive technology is transforming the way vehicles are developed, with Software-Defined Vehicles at the forefront of this shift. At Tata Technologies, our deep automotive expertise and end-to-end solutions across the value chain – from concept and detailed engineering to manufacturing engineering and turnkey SDV development – position us perfectly to support the BMW Group in shaping the future of mobility. Through this joint venture, we will push the boundaries of automotive technology, creating vehicles that are not only cutting-edge but also deliver exceptional driving experiences to consumers worldwide."

Aditya Khera, CEO of BMW TechWorks India: “With the launch of BMW TechWorks India, we are establishing a world-class software hub that will play a critical role in the BMW Group's automotive software and business IT strategy. By combining the BMW Group's and Tata Technologies' leadership in software-defined vehicles and product engineering excellence, we are poised for innovation and growth, offering India's top talent the opportunity to shape the future of the BMW Group's mobility solutions“.

The management team of BMW TechWorks India is comprised of seasoned executives from both partner companies. Representing Tata Technologies are Aditya Khera as CEO and Sweta Girinatham as CFO of this JV. From the BMW Group, Oliver Scheickl holds the position of COO of Automotive Software in this new JV and Stefan Flader serves as COO of Business IT.

-------------------------End of joint press release --------------------

Global network for Software & IT-Hubs

For several years now, the BMW Group has been pooling its digital expertise at international locations, thereby securing its IT and software know-how for the long term. In total, more than 15,000 employees worldwide work in software development and Business IT for the BMW Group and its joint ventures. The locations span the entire globe: USA, Portugal, Germany, Romania, South Africa, India and China.

With the new joint venture BMW TechWorks India, the BMW Group sets another milestone in its growth strategy and strengthens its position as a leading company in the field of automotive software and business IT.

BMW Group in India

The BMW Group has been active in India since 2007 and employs around 650 people. BMW India’s headquarter is located close to New Delhi in Gurugram, which is also home to a training centre. Further activities include a production plant in Chennai, a spare parts warehouse in Pune and a dealer network in the country's major metropolises. In 2023, BMW Group India recorded the best annual result in its history with BMW and MINI selling 14,172 units (+18%) and BMW Motorrad selling 8,768 units (+20%). 

Midgard.  “As you set out for Ithaka, hope your road is a long one, full of adventure, full of discovery.” These words echo across the dawn of the final day, capturing the essence of every journey that brought the riders here. From distant lands, they have traversed trials and terrains, not just in Namibia but in their own worlds of preparation and perseverance. Each twist of the throttle has been a chapter, each obstacle a lesson, and every kilometer ridden, a story etched into the landscape of this adventure.

Now, as they stand on the brink of the last challenge, they know that the true treasure of this journey is not the podium but the friendships forged, the limits surpassed, and the moments that have become memories. Like Odysseus on his path to Ithaka, they’ve come to realize that the greatest victories are the ones found along the road, not just at its end.

The time had come, and they were off! The last day of the BMW Motorrad International GS Trophy 2024 arrived sooner than anyone had imagined. It felt like just yesterday that the competitors were arriving here in Midgard, with no speck of dust in their lungs. Now, dust and adventure are part of their every day, ingrained in both rider and machine.

Today's ride may only be 50 kilometers, but BMW Motorrad has saved one of the toughest for last. The riders departed for a loop around the estate, near the fringes of the Okavango Delta, before returning to the Lodge for the final challenge of the event.

The light morning breeze brought hopes for a less dusty ride, but by now, the dust didn’t matter. The riders, their gear, and the bikes had seen so much of it, they had become one with the earth, carrying the Namibian dust as a badge of honor.

The first part of the loop seemed deceptively easy. Hardpacked trails provided traction, and the riders made good progress despite the loose rocks scattered across the steep uphills. But the respite was short-lived. Soon, loose, large rocks covered the trail, forcing the riders to constantly adjust their lines while the rolling uphills seemed endless. It became clear that BMW had indeed saved the best for last. The motorcycles were at the mercy of the terrain, and only the most experienced riders could navigate these challenges.

The trail was unforgiving. Thorny bushes lined the narrow path, leaving no room for errors. Just like yesterday’s special challenge, the wheels had to keep moving, or the riders would find themselves in deep trouble.

Switchback after switchback, the constant elevation gain meant only one thing: what goes up must come down. And not just once but multiple times, as if they were riding from peak to peak. When the downhills ended, they gave way to sandy, dry creek crossings—not as frequent as in previous days, but enough to remind the riders that they were still very much in Namibia.

It was astonishing to see that the most technical trail of the event had the least amount of sand. It wasn’t just the difficulty but the relentless length of it, stretching over 50 kilometers, pushing the limits of both riders and bikes.

The trail wound its way through the rugged ridges for hours, and after the grueling loop, the riders finally returned to base camp, just in time for lunch and some much-needed rest before the last stage, which would take place within the camp's premises.

The BMW R 1300 GS has proven to be the perfect companion on this journey, but now it’s time for the riders to put it through the real and final test. Rider Karen Weckx (351) of Female Team Benelux, said: “This trail was really fantastic. I was really having fun. It was a technical ride. I cannot describe it otherwise. The bike felt really comfortable, really powerful and really smooth. The GS can do anything!”

The final special challenge of the BMW Motorrad International GS Trophy 2024, aptly named the “Final Course,” was designed to test every skill the riders had honed throughout the competition. Unlike the previous challenges, this time all participants gathered around to witness the event unfold in its entirety, just as they had done in Albania for the 2022 GS Trophy.

The course, though relatively short, brought a unique twist to the competition. It featured three distinct paths, each designed to challenge the riders in different ways. Teams had to strategize and assign each rider to one of the paths based on their strengths, before coming together for a final challenge that would require seamless coordination.

The first path was a steep off-camber climb, leading to a narrow ledge that the rider had to carefully navigate around a flag. The uneven terrain and the incline demanded precise throttle control and balance. The second path, similar to the first, also involved off-camber sections but with two flags to navigate, making it a test of agility and concentration over a shorter but more technical course.

The third path, positioned centrally, was a slalom course marked by a series of tightly spaced cones. This section was all about finesse and control, as riders weaved their way through the cones with precision.

Once each rider had completed their assigned path, they regrouped at the far end of the course for the final segment. Together, they faced another steep off-camber section, and then entered the "garage"—a tight maze of turns that required sharp handling and coordination. The final task was to navigate through the same slalom course as the third rider had, before racing back to the starting point.

The challenge ended when all three riders stopped their bikes and raised their hands in the air. Every dab, out-of-bounds, and bike drop was counted as a penalty, adding an extra layer of pressure as the teams pushed themselves to the limit. With everyone gathered together, the atmosphere was electric, as cheers and encouragement rang out, embodying the true spirit of GS camaraderie. It was a thrilling, nail-biting conclusion to an unforgettable adventure, testing not just the riders’ skills but their teamwork and endurance.

Rider Antoine Saad (241) of Team Middle East, said “We obviously had a tactic for this challenge. We divided the paths according to everyone’s skills. And our strategy worked flawlessly. The most challenging part was the garage, because all three of us would have arrived there at the same time, we decided that one of us would have to burn it. I think we did well.”

And the winner is…

As the final scores were tallied, it became clear that Team Germany had dominated the BMW Motorrad International GS Trophy 2024, securing the overall victory in the men’s category. Team South Africa delivered an impressive performance, earning them a strong second place, while Team Brazil, known for their grit and determination, took third place, rounding out the podium with a commendable effort.

For the Female teams, the International Team emerged as the champions, showcasing exceptional skill and teamwork. Team Japan continued their strong showing by claiming second place, while Team France secured third.

This year’s competition highlighted the remarkable talent and resilience of all participants, with each team demonstrating outstanding performance and camaraderie throughout the event, making this edition of the GS Trophy one of the most memorable to date.

And as the sun set on the final day, the riders gathered with their hearts full and their spirits lifted by the journey they had shared. They have ridden through sand and stone, braved the winds and heat, and stood shoulder to shoulder against every challenge Namibia has thrown their way. The thrill of victory may belong to a few, but the true rewards are carried by all—the strength discovered, the friendships forged, and the awe-inspiring landscapes etched into their memories.

Each rider will leave with stories that will last a lifetime, not defined by scores or rankings but by the moments of courage, laughter, and camaraderie that have woven this adventure together. And as they reflect on this incredible journey, they will understand that it was never about the destination alone, but the richness of the path they traveled. “And if you find her poor, Ithaka won’t have fooled you. Wise as you will have become, so full of experience, you’ll have understood by then what these Ithakas mean.”

Quotes:

Male Winner Team Germany:

Christopher Michi (181): “I feel absolutely incredible! To be here, part of this amazing event, and to win alongside my teammates who have become like family to me—it’s a dream come true. I still can’t believe it’s real.”

Niko Wecker (182): “It’s unbelievable. We’ve been training for one and a half years, pushing ourselves every day for this exact moment, and now that we’ve achieved it, I’m overwhelmed with happiness. This victory means everything to us.”

Jan Stahl (183): “Our hearts were racing, waiting to see if our names would appear on that board. When it finally did, the sense of relief and pride was overwhelming. This is truly beyond anything we could have imagined.”

Female Winner International Team: 

Małgorzata Jakubiak (321): “I am beyond thrilled! This feels like a dream come true, and I’m so proud of what we’ve accomplished together. Being here, representing our team and competing at this level, is an incredible honor that I will cherish forever.“

Anna Cárdova (322): “I am over the moon! I never imagined we would come this far, and to be standing here as winners is just surreal. It’s an honor I never expected, and I’m so grateful to be a part of this incredible experience!”

BMW Motorrad International GS Trophy 2024, Namibia. 

Final standings: 

Male Teams:

1. Germany, 283 points

2. South Africa, 223

3. Brazil, 177

4. France, 153

5. UK, 150

6. Latin America, 147

7. Italy, 145

8. International Team, 140

9. China, 139

10. India, 134

11. Benelux, 125

12. South Korea, 117

13. Japan, 112

14. Mexico, 107

15. USA, 94

16. Middle East, 93

Female Teams:

1. International, 278

2. Japan, 273

3. France, 267

4. Germany, 263

5. South Korea, 249

You can follow the BMW Motorrad International GS Trophy 2024 on the BMW Motorrad social media channels:

http://www.facebook.com/bmwmotorrad

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https://www.youtube.com/bmwmotorrad

https://www.linkedin.com/bmwmotorrad/showcase/bmwmotorrad

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https://www.tiktok.com/@bmwmotorrad

You will find press material on BMW motorcycles in the BMW Group PressClub at https://newsroom.bmwgroup.com/global/en

In case of queries, please contact:

Damien Cagnart, Spokesperson BMW Motorrad 

Tel: +49-151-601-95806, Damien.Cagnart@bmw.de 

Tim Diehl-Thiele, Head of Communications BMW Motorrad

Telephone: +49-151-601-57505, Tim.Diehl-Thiele@bmw.de

Web: www.press.bmw.de 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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Midgard.  As the Atlantic breeze faded into the distance, the riders knew they were leaving behind the ocean and entering the final, toughest stretch of their journey. Though the end of the GS Trophy was still a day away, the ride ahead marked a turning point - an intense test of endurance, with the finish line finally in sight. The vast, open landscapes of Namibia had become familiar, but today, the riders would push deeper, leaving behind the cool air of the coast for the harsh heat of the interior. With every mile eastward, they edged closer to the culmination of an epic adventure that had tested their limits and brought them together as a team.

The day began in the soft light of dawn, with the sky overcast from the lingering humidity of the Atlantic. Riders gathered for a 7:45 a.m. start, after a hearty breakfast by the ocean. Some wandered down to the shoreline, eager to feel the cool, wet embrace of the sea one last time. A few brave - or perhaps crazy - souls even ventured in for a morning swim, relishing the moment. For some, this was their first encounter with the Atlantic, or any ocean at all.

The beach sand clung to them like a final farewell, a souvenir for their journey back to the desert. The dust that had followed them throughout the adventure now mingled with the sand, a reminder of both the places they had been and the road still ahead. Engines roared to life, cutting through the morning mist as the convoy prepared to leave Swakopmund.

The riders pulled away from the coast, leaving behind the cool, salty breeze and the rhythmic crash of the waves. The journey eastward beckoned, a return to the arid embrace of the Namib desert. The day’s ride would be long and challenging, but there was a palpable sense of resolve among the riders. Today marked the beginning of the end, the final push before they could rest and reflect on an adventure that had taken them through the heart of one of the world's most beautiful and unforgiving landscapes.

 As the riders departed from the lively coastal town of Swakopmund, the contrast was immediate. Just minutes after leaving the ocean’s edge, they were once again surrounded by the arid expanse of the Namib Desert. This is the world’s oldest desert, a stark and beautiful landscape where the paved road ahead seemed to stretch infinitely into the horizon, offering a rare chance for the riders to absorb the sheer vastness and isolation of this ancient land.

Alongside the road, a single water pipeline traced their path, carrying the lifeblood of the coast to the interior, sustaining life in this otherwise harsh environment. It was a humbling reminder of the resilience and adaptability required to thrive here. Much like the GS Trophy itself, which not only brings adventure but also creates job opportunities and global exposure for Namibia, this pipeline represented a vital connection, sustaining the country and its people.

But soon the pavement ended, and the riders were jolted back to reality. The smooth tarmac gave way to a well-graded dirt road, beckoning them to test the full capabilities of their GS bikes. They accelerated, finding their rhythm once more, only to be slowed by a dense fog rolling in from the coast. This thick mist, a familiar companion to the desert so close to the ocean, cloaked their path, forcing them to ease off the throttle and navigate cautiously. Yet, as quickly as it appeared, the fog lifted, revealing the sun above, though its warmth remained elusive. The air remained cold as they ascended towards the imposing Bosua Pass.

The terrain transformed again as they left the desert behind, entering sparse farmlands dotted with patches of vegetation. A testament to the last rainy season, these scattered green patches whispered of a brief, fleeting abundance. Locals spoke of how this region turns lush with grass between December and February, a striking contrast to the dry, dusty land that now stretched out before them.

As they drew closer to the mountains, the rock formations loomed like silent storytellers, their ancient faces etched with the passage of millions of years. Riding through this timeless landscape, it felt as though they were journeying back in time. Nestled within these mighty rocks, a solitary house stood, a lone guardian of the mountains, isolated from the world beyond.

By now, the fog had completely cleared, and the convoy reached an altitude of about 1,200 meters. The sun, now high in the sky, gently warmed their backs as they rode on. The ever-changing scenery of Namibia unfolded before them - dry grass, scattered greenery, and the distant peaks. After nearly 150 kilometers and seemingly in the middle of nowhere, they came upon a surprise: Shell, an official sponsor of the GS Trophy, had set up an on-site gas station. Here, the riders refueled both their bikes and themselves, taking a brief but welcome break.

The riders traversed the Moon Landscape, a desolate, otherworldly region known for its barren, lunar-like terrain. Located near the Swakop River, this area features undulating hills and valleys of eroded rock formations carved by millions of years of wind and water erosion. The stark, monochromatic scenery, with its craters and ridges, contrasts the vast, arid plains surrounding it. It’s a place where the harshness of nature and the timelessness of the landscape evoke a sense of awe, making one feel as though they’ve set foot on another planet.

Finally, they reached the summit of Bosua Pass at 1,728 meters - the highest road in Namibia. What a journey it had been, rising from sea level to this majestic height in just one morning. Here, they were ready for the first special challenge of the day, standing at the edge of one of the most dramatic landscapes they had encountered yet.  

Day 5, Special Challenge 1: The LEATT Push Challenge. This challenge simulated a real-world scenario that every rider dreads - jump-starting a bike with a dead battery. Time began as soon as the riders started pushing the stalled motorcycle, working together to build enough speed to kick the engine to life. The goal was to get the bike running and come to a stop as quickly as possible. It required not just strength, but coordination and quick thinking. Though modern bikes rarely face this issue due to advanced technology, this challenge was a reminder that out in the wild, riders need to be ready for anything. It was a brief but intense test of teamwork and resilience, pushing the riders to solve a problem many might face on a remote trail.

Rider Matt Poole (161), of Team UK, said: “The technique was quite simple, we just push as hard as we can, and my teammate would steer towards the hardpacked dirt, with third gear. Once he had enough speed, he would release the clutch, jump-starting the bike. And it worked quite well!”

At the top of Bosua Pass, the riders were treated to a panoramic view of the Kuiseb River Basin, a lifeline cutting through Namibia’s arid landscape. Spanning around 450 kilometers and covering over 21,000 square kilometers, this ephemeral river rarely flows. It only comes to life during significant rainy seasons, like in 2010/11 when it ran for 184 consecutive days - the longest period in recorded history. The basin's upper region, dominated by the Khomas Highland and escarpments, acts as a crucial water catchment area, sustaining the surrounding farmlands and highlands. As the river makes its way westward, it supports diverse ecosystems, including the globally recognized coastal wetland at Walvis Bay, home to extensive bird and marine life. For the riders, this view was not just a reminder of the land’s geological past but also of the delicate balance of life sustained by these rare waterways in an otherwise unforgiving terrain.

After the riders completed the first special challenge, they continued their journey along the rugged mountain paths, navigating through the unyielding but captivating terrain of rolling hills, hardpacked dirt, and loose rocks. For another 60 kilometers, they traversed this unforgiving landscape, eventually stopping for a much-needed lunch break amidst the harsh yet stunning surroundings. The day also featured a fourth special stage: The MPS Questionnaire, a quiz that challenged even the most knowledgeable riders on BMW Motorrad history and models, adding a cerebral twist to the adventure.

Their path then led them into Windhoek, Namibia's bustling capital - a stark contrast to the isolation they'd experienced so far. Entering Windhoek felt like stepping into another version of Namibia, one 

defined by its commercial and industrial character. The city, with its modern architecture, busy markets, and vibrant atmosphere, presented a surprising shift from the tranquil vastness they had grown accustomed to. The sight of nearly 100 motorcycles winding through the capital's streets turned heads and served as a striking reminder of the adventure they were on.

As the convoy moved through the capital, the riders were struck by the sheer remoteness of the country they were exploring. From Swakopmund to Windhoek, they encountered just four cars, three pedestrians, one cyclist, and two horseback riders - a testament to the sparsely populated nature of this expansive land.

Leaving Windhoek behind, the riders transitioned back onto gravel roads, marking the beginning of the final stretch toward Midgard. This would be the last time they rode on tarmac, a poignant moment signaling the end of an incredible journey across Namibia's diverse terrains. As they approached the Midgard Country Estate, where their adventure had begun, the realization set in that only one day and the final special challenge remained before the conclusion of the GS Trophy.

Day 5, Special Challenge 2: The Midgard Slow Trial. At the Midgard Country Estate, the riders gathered for the final special challenge of the day. The goal was not speed but control and precision. Each rider had to navigate a short trial course as slowly as possible without touching a foot to the ground, stopping, or dropping the bike. Time started when the front wheel crossed the cones and ended if the rider dabbed or reached the finish line. The longer the combined times of all three riders, the better their score. It was a test of balance and patience, a true display of skill to close out the day’s events.

Rider Mauro Zucca (153) of Team Italy, said: “The technique is really simple. We will ride with just the clutch, using the bike's torque, and 

rolling with first gear.” After the completion of the challenge, Mauro’s hands were shaking. When asked for the reason, he mentioned: “This was unexpected. There were a lot of large stones on the trail, and I grabbed the handlebars as hard as I could, which was a mistake. Unfortunately, that led to a few dabs, but overall, we are very satisfied.”

After the last special challenge, the riders began setting up their tents at the Midgard Country Estate, knowing they would be here for two more nights. It was a welcome opportunity to unwind and reflect on the day's challenges. Some took a dip in the pool, washing off the dust and fatigue, while others shared stories from the day's ride, the excitement still palpable in the air. As dinner time approached, the anticipation grew, not just for the food but for the announcement of the day’s results. With the competition heating up, Teams Germany and South Africa were locked in a tight battle for the lead, separated by only a few points. The stage was set for an exhilarating final showdown.

Tomorrow marks the last day of the BMW Motorrad International GS Trophy 2024, here in Namibia - a final chance for the teams to leave their mark on this epic adventure. 

BMW Motorrad International GS Trophy 2024, Namibia. 

Day Five overall standings: 

Male Teams:

1. Germany, 233 points

2. South Africa, 199

3. Brazil, 137

4. UK, 134

4. International Team, 134

6. Italy, 133

7. France, 131

8. India, 130

9. Benelux, 121

10. Latin America, 119

11. South Korea, 109

12. China, 107

13. Mexico, 97

14. Japan, 92

15. Middle East, 79

16. USA, 76

Female Teams:

1. France, 239

2. International Team, 238

3. Germany, 231

4. South Korea, 225

5. Japan, 223

You can follow the BMW Motorrad International GS Trophy 2024 on the BMW Motorrad social media channels:

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You will find press material on BMW motorcycles in the BMW Group PressClub at https://newsroom.bmwgroup.com/global/en

In case of queries, please contact:

Damien Cagnart, Spokesperson BMW Motorrad 

Tel: +49-151-601-95806, Damien.Cagnart@bmw.de 

Tim Diehl-Thiele, Head of Communications BMW Motorrad Telephone: +49-151-601-57505, Tim.Diehl-Thiele@bmw.de

Web: www.press.bmw.de 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.

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Swakopmund.  The ocean rose like a mirage on the horizon. The cold, salty breeze from the Atlantic washed away the dust of the dunes, a welcome reprieve after the unforgiving heat. Here, where the vastness of the Namib Desert meets the endless stretch of ocean, it felt as though we had arrived in a new world—one where sand and sea dance together in perfect contrast, a place where the desert surrenders to the deep blues of the coast.

The riders awoke to a mild morning, but the tranquility wouldn’t last. The day ahead promised both adventure and challenges as they prepared to leave camp.

Shortly after setting off, the route guided them around the rugged beauty of Kleine Spitzkoppe, the smaller sibling of the iconic Spitzkoppe formation. By now, the riders had become familiar with Namibia’s ever-changing landscape. If there were one word to describe the terrain, it would be “unpredictable” — a land where every twist and turn offered a new challenge.  

After skirting the edges of Kleine Spitzkoppe, through the sweeping expanse of the national park, the riders arrived at the site of their first special challenge of the day. The warm-up was over, and the real test was about to begin.

Day 4, Special Challenge 1: The ADVANTEC Pull Challenge. Emulating every rider’s nightmare—a motorcycle that has run out of gas—this challenge added a tough layer of complexity. The task seemed simple enough: cover 50 meters, but those 50 meters were buried under deep, unforgiving sand.

At the start, the three riders lined up. The first rider set off quickly, racing through the sand towards the finish line. But as they tore ahead, the real challenge began for the second rider. While battling through the cloud of dust and sand kicked up by the first, the second rider had to attach a towing rope to the third motorcycle and pull it through the sand to the finish.

As the second rider fought to maintain traction and pull the towed bike forward, the first rider had already arrived at the finish, grabbing a gas can to simulate refueling the third bike. It was a test of coordination, strength, and strategy—made all the more difficult by the sandy conditions and the relentless dust cloud left behind by the first rider’s departure.

Rider Taher Altayed (243) of Team Middle East, said: “Super nice special challenge. We had to coordinate with each other and make sure that everybody knew what to do. The plan was very simple. I would ride my bike to the gas can while my teammates would tow the disabled bike. Easy!”

The riders completed the loop around Kleine Spitzkoppe, a trail that offered a bit of everything. The mostly hardpacked dirt, loose gravel, and rocky terrain kept them focused, while the few dried creek crossings with their sandy beds added just enough unpredictability to keep everyone on their toes.

As they pushed westward, the road led through small communities, where local residents stood by their handmade roadside stands, waving at the passing riders. The sight of the convoy of motorcycles and support vehicles was a spectacle for the local children, their eyes wide with excitement. Who knows what thoughts ran through their minds—maybe one of them dreamed of becoming a future GS rider, traversing distant lands and taking part in something as grand as the GS Trophy.

The road from the first special challenge to the lunch break location was manageable, even for the least experienced riders. By now, everyone had found their rhythm, tackling the sand and loose gravel with confidence. Even the steep, rocky uphills didn’t pose the challenge they once did. On their way, the riders passed through an abandoned marble mine, with massive marble blocks scattered across the landscape—a reminder of a once-thriving area that had long since faded away.

After a quick but much-needed lunch break, the riders prepared to enter the Khan River Canyon, for a rugged 80-kilometer stretch of terrain that would test their skills and endurance. Plunging into the heart of the canyon, they found themselves surrounded by towering rock walls that rose sharply on either side, their jagged edges casting long shadows across the trail. It was a surreal landscape—majestic, yet unforgiving—signaling the approach of their second and final special challenge of the day.

The path narrowed as it snaked between the rock formations, forcing the riders to navigate the tight passes carefully. At times, the towering cliffs seemed to close in on them, and the road was a thin thread carved through eons of erosion. The smooth canyon floor gave way to rough patches of loose gravel, with large boulders strewn along the sides, reminding them of nature’s power to both create and destroy.

With every twist and turn, the canyon revealed a new wonder—massive rock formations that looked as though they had been sculpted by hand, their colors shifting from deep reds to light browns under the changing light. Riding through these towering rock faces, it felt as if the earth itself had split open, creating a natural passageway just for them.

At certain points, the track widened and narrowed unpredictably, requiring the riders to maintain a careful balance of precision and speed as they navigated through the rugged terrain. The towering rocks and winding paths gave the feeling of riding through a labyrinth carved by time, with each bend offering a new, breathtaking view of the canyon’s dramatic landscape.

The constant shifting of the road surface—from hard-packed dirt to loose rocks to deep sand—kept everyone focused, and the echo of the motorcycles reverberating off the canyon walls only added to the sense of isolation and adventure.

As the canyon finally opened up, the riders knew they were emerging from one of the most dramatic and challenging stretches of the day—a place where the raw beauty of Namibia’s terrain had left its mark on both them and their bikes. But there was little time to rest; at the canyon’s exit, the second special challenge awaited, ready to test their endurance once again.

Day 4, Special Challenge 2: Rooi Tafel Trial. Set against the surreal backdrop of towering rock formations, the Rooi Tafel Trial demanded both precision and grit. The three riders began in the start box, with rider one setting off as the clock started. The course was a tough trial section featuring sharp turns, deep sand, and challenging rock climbs. Upon reaching the finish line, rider one would raise their hand, signaling for rider two to start, followed by rider three. Points were deducted for dabs, going out of bounds, or dropping the bike. The riders had to work quickly but carefully, with all three needing to complete the course within a 5-minute limit.

Rider Martin Ulreich (252) of the International Male Team, said: “This section was very small and very tight. You must ride very slowly and carefully, and because it was so technical, we couldn’t do it without putting our feet down. We didn’t drop a bike, so we hope our time was good.”

Among the adrenaline and tough competition, there was a heartwarming moment that truly captured the GS spirit. The riders from Team India, along with their MRP, took a pause to embrace one another in a heartfelt group hug. Grateful for the rare opportunity to be together in Namibia, competing in the GS Trophy, it was a touching reminder of what this event is all about—camaraderie, teamwork, and the bonds that form through shared adventure. It was a genuine demonstration of the GS team spirit, showing that beyond the challenges, the experience of being here together meant everything.

As the riders emerged from the canyon, the landscape shifted once again. The rocks became sharper and more defined, as if hardened by time, standing tall with a wisdom that seemed ancient and untouchable—as if this was the birthplace of Africa. The journey westward brought not only a change in scenery but a change in the air. The temperature dropped quickly as the cold ocean breeze swept in, a refreshing contrast to the desert heat they had endured all day.

When they finally entered Swakopmund, it felt like stepping into a different world. The stark desert gave way to the lively, touristic atmosphere of the coastal town. New houses lined the oceanfront, markets bustled with energy, and the streets buzzed with life. It was as though they had left Namibia behind and crossed into a completely new country.

The day came to a close with dinner by the ocean, the sound of the waves a soothing backdrop to the evening’s festivities. As the scores for the day were announced, the riders celebrated with laughter and camaraderie, all while preparing for the challenges of the next day—the longest of the GS Trophy, Day 5.  

Quotes:

Rider Tomas Harrison (122), Team Latin America: “The day was spectacular. The canyon was such a treat. Similar to what we did yesterday, but this one was very narrow, beautiful rocks, such a great experience. We were riding in the middle of very tall rock formations, and a lot of trees, which was rare if you think we’re in the desert. We were riding with team UK and we really bonded. It was such a beautiful ride.”

BMW Motorrad International GS Trophy 2024, Namibia.

Day Four overall standings: 

Male Teams:

1. Germany, 155 points

2. South Africa, 150

3. International Team, 101

4. Brazil, 98

5. France, 95

6. Benelux, 93

7. Italy, 89

8. Latin America, 87

9. South Korea, 85

10. India, 82

11. UK, 81

11. China, 81

13. Mexico, 78

14. Middle East, Africa, 63

14. Japan, 63

16. USA, 49

Female Teams:

1. France, 172

2. Germany, 168

3. Japan, 167

4. International Team, 166

5. South Korea, 160

You can follow the BMW Motorrad International GS Trophy 2024 on the BMW Motorrad social media channels:

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https://www.instagram.com/bmwmotorrad

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https://www.linkedin.com/bmwmotorrad/showcase/bmwmotorrad

https://www.x.com/bmwmotorrad

https://www.tiktok.com/@bmwmotorrad

You will find press material on BMW motorcycles in the BMW Group PressClub at https://newsroom.bmwgroup.com/global/en

In case of queries, please contact:

Damien Cagnart, Spokesperson BMW Motorrad 

Tel: +49-151-601-95806, Damien.Cagnart@bmw.de 

Tim Diehl-Thiele, Head of Communications BMW Motorrad Telephone: +49-151-601-57505, Tim.Diehl-Thiele@bmw.de

Web: www.press.bmw.de 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

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

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Spitzkoppe. And if these rocks could speak, they would whisper of ancient winds and timeless suns. Of shadows stretching long across the desert’s canvas. Like giants frozen in a dance, their granite domes painted in hues of gold and crimson revealing the earth's very bones. Her great ribs of stone, piercing the sky and breathing secrets of a time before time. 

This imagery perfectly captured the scene that greeted the riders on the morning of the 3^rd day of the BMW Motorrad International GS Trophy in Namibia. Bathed in the soft glow of dawn, the rocks stood like an ancient Greek-Roman sculpture—Nature’s masterpiece, with layers of stone draped over each other like a blanket. It was a visual feast for the riders, a brief moment of stillness and admiration before they tackled the day’s first Special Challenge, set right next to the campground.  

Day 3, Special Challenge 1: The Spitzkoppe INSTA360 Challenge. Equipped with only a sheet of instructions and a compass, the riders set off on foot to find a hidden GS Trophy wooden board in the rugged terrain around Spitzkoppe. They had five steps to follow, navigating the rocky landscape to reach their target, then take a selfie with the board and return to the starting point—all while racing against the clock. With an Insta360 camera capturing their every move, the riders dashed over rocks and through narrow paths, eyes scanning the terrain for clues. The challenge tested their navigation skills, sense of direction, and quick thinking, all under the pressure of time.

Rider Scott Acheson (133) of Team USA mentioned, “This exercise was great! It helped that I grew up without GPS and modern navigation systems. My Marine Corps Training paid off.”

After leaving Spitzkoppe, the riders pushed north, winding through farmlands where the scenery seemed almost to shift with each passing moment. Suddenly, as if an invisible line had been drawn in the sand, the fields gave way to the vast, empty expanse of the desert. It was as if someone had declared, “From here, it's farmlands; beyond, only the desert.” 

Riding through this stark boundary, the riders witnessed the incredible perseverance of nature - several places where, centuries ago, small creeks once meandered, leaving behind a trace of life in the form of sparse vegetation struggling against the arid land. Soon, the riders reached the location for the second Special Challenge of the day.

Day 3, Special Challenge 2: The Camel Thorn Tree Challenge. In this challenge, the riders needed to prove their quick thinking and teamwork by demonstrating how to plug a tire under time pressure. As soon as they left the start line, one rider jumped on their bike and raced over to the disabled motorcycle, while another took off on foot to join them. The third rider grabbed the toolkit and hurried to meet the others. Once all three riders reached the disabled bike, the task was clear: work together to plug the tire as quickly as possible. With hands moving swiftly and focus sharpened, they would patch up the tire, bringing the challenge to a close.

Rider JP Boer (232) of Team South Africa said: “We had a very good time. There were no hick-ups, and our tactic was very straightforward: as fast as possible. All of our riders are pretty comfortable with these kinds of challenges.”

As the riders continued their journey, they entered the now-dry Omaruru River, one of Namibia's ephemeral rivers, which carved a natural corridor of life through the arid landscape. The dry riverbed stretched before them, lined with ancient Camelthorn and Ana trees that offered shelter and food to desert-adapted wildlife like kudu, oryx, and baboons. Even in its dry state, the Omaruru River told stories of nature's untamed power, its flow capable of surging unexpectedly during the rainy season, reshaping the desert floor with each passing year.

The rocky canyon’s terrain became even more challenging. Its walls, painted in every conceivable shade of grey and brown, seemed like a masterpiece etched by time. The path narrowed and widened, sometimes only a few meters across, then opening up to a width of nearly 100 meters. Riding through the deep sand that filled the canyon floor, every twist and turn became a test of skill and concentration.

With the sun directly overhead, the midday light cast no shadows, flattening the landscape and hiding the road’s many dips and ridges, making the ride even trickier. The color variations in the canyon’s layered walls hinted at the slow, powerful movements of the Earth's crust, a silent reminder of the planet's ancient and ongoing transformations. However, it was the perfect opportunity for the participants to complete the additional Special Challenge of the day, the Photo Challenge.

Pushing through these challenges, the riders made their way toward the lunch break, a well-deserved rest after a morning of relentless terrain and unforgiving heat.

Only a few kilometers from the lunch break, the riders came across the third special challenge of the day.

Day 3, Special Challenge 3: The Omaruru METZELER Challenge. This time, all three riders lined up, ready to tackle the course in relay style. Rider one set off first, navigating through a winding course, circling around the flag, then up and over a rock before making the return trip through the exit gates back to the start. Once back, he high-fived the second rider, who immediately set off to repeat the course. The process continued as the second rider returned to high-five the third rider, who then completed the course. The challenge was all about speed, precision, and teamwork—the clock only stopped once the third rider crossed the finish line and returned to the start.

Rider Stephan Sleeckx (142) of Team Benelux, said: “It was very demanding, and the sand was very deep, but it actually went well. I only had one dab, and my team member had one drop, but it went very good. It was a fast challenge but very dusty.”

On their way back to the Spitzkoppe Camp, the riders were treated to a breathtaking view of the distant Brandberg Mountain, its outline barely visible on the horizon. Known for the ancient White Lady painting found in its caves, Brandberg is a place rich in history and once the site of a mining town that extracted tin from its depths.  

The return trail offered a welcome respite from the relentless sand earlier in the day. The hard-packed track, interspersed with rocky sections, provided a smoother ride, allowing the riders to catch their breath and enjoy the changing scenery. The terrain continued to surprise with its diversity; small volcanic rocks appeared on the sides of the track, seemingly placed with purpose, evenly scattered like stones in a Zen Garden.

As they neared their destination, the majestic Spitzkoppe rock formation emerged on the horizon. Towering over the landscape like the tallest building in a quiet village, it beckoned its residents home.

The day ended with the announcement of the results and a teaser video for Day 4 of the GS Trophy, leaving the riders eagerly anticipating the challenges to come. 

Quotes:

Rider Dmytro Ivanov (251), International Male Team: “This was an amazing ride on the sand! Perfect conditions, and I love riding in the sand. You don’t know what life will bring tomorrow. So, we must live today. And today, I wanted to ride sand!”

Rider Dake Zue (191), Team China: “It was very challenging. We have no issues with sand, but it was a very long sand trail, almost 50 kilometers, and that made things harder for us.”

Rider Andrea Gioia (151), Team Italy: “I really enjoyed the sand. My dad, Massimo (Rider 152), is better, and I had to learn from him when I was younger. So I had a great teacher.”

BMW Motorrad International GS Trophy 2024, Namibia.

Day Three overall standings: 

Male Teams:

1. Germany, 127 points

2. South Africa, 113

3. International Team, 88

4. Brazil, 80

5. India, 75

5. China, 75

7. Benelux, 73

8. France, 70

8. Italy, 70

10. UK, 67

11. South Korea, 64

12. Japan, 58

13. Latin America, 57

14. Mexico, 50

15. Middle East, Africa, 48

16. USA, 29

Female Teams:

1. International Team, 134

2. France, 133

2. Japan, 133

4. Germany, 131

5. South Korea, 126

6. Benelux, 117

You can follow the BMW Motorrad International GS Trophy 2024 on the BMW Motorrad social media channels:

http://www.facebook.com/bmwmotorrad

https://www.instagram.com/bmwmotorrad

https://www.youtube.com/bmwmotorrad

https://www.linkedin.com/bmwmotorrad/showcase/bmwmotorrad

https://www.x.com/bmwmotorrad

https://www.tiktok.com/@bmwmotorrad

You will find press material on BMW motorcycles in the BMW Group PressClub at https://newsroom.bmwgroup.com/global/en

In case of queries, please contact:

Damien Cagnart, Spokesperson BMW Motorrad 

Tel: +49-151-601-95806, Damien.Cagnart@bmw.de 

Tim Diehl-Thiele, Head of Communications BMW Motorrad Telephone: +49-151-601-57505, Tim.Diehl-Thiele@bmw.de

Web: www.press.bmw.de 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

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

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

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Spitzkoppe.

There's something magical about waking up in Namibia, even more so when it's under the roar of lions, ready for battle - or at least, that's what it felt like listening to the nearly 80 boxer engines revving up as they emerged from the valley where the campground lay, signaling the start of the day.

Day 2 began with a loop on the premises of Ai Aiba, a lodge that spans over 5,000 hectares and is part of a game reserve. As the riders made their way through this vast and impressive reserve, they encountered various animals, including giraffes, and more, creating what felt like a true safari on GS motorcycles.

The ride proved to be extremely technical, presenting the most challenging trails encountered so far, all set against the backdrop of magnificent granite hills towering beside the road. However, whether the riders had time to enjoy the views was another matter entirely. Along the deep sandy trails, the true spirit of GS shined brightly, as riders leaped off their bikes to assist others without a second thought. This spirit of camaraderie is what the GS Trophy is all about. But to make matters more challenging, the absence of wind created extremely dusty conditions. 

Namibia's diverse terrain revealed itself just a few kilometers from the campsite. After navigating the technical ride, still surrounded by sand, the competitors suddenly found themselves on a massive granite rock the size of a small village, where the first special challenge of the day awaited. The solid ground provided a much-needed break for the riders.

Day 2, Special Challenge 1: The Flying Boxer. In this trial, the riders had to demonstrate their ability to pull their motorcycles from one ledge to another, simulating a real-world scenario like a fallen bridge over a canyon. A motorcycle hung mid-air, attached to a rope anchored to sturdy objects. The riders needed to sprint to the opposite end, grab two ropes, secure them to the bike, and pull it from one edge to the other, creating an incredible spectacle.

Rider Sunghee Kim (301) of Female Team South Korea shared, “After seeing the exercise, we decided to pull the bike with our weight. We have enough confidence that we can use our power and weight. We will also try to stand on a flat surface.” After a successful attempt, she added, “The technique we were practicing worked. We went straight for the flat part of the ledge and pulled from there. That helped a lot and we were able to complete the challenge.”.

On the way to the second Special Challenge, the riders often wondered if there was even an actual trail. Thanks to the guidance of their appointed Marshals, they arrived safely at the location for the second part of the day. Navigating through thick bushland and deep sand, the competitors continued around Ai Aiba, even crossing what seemed to be an airstrip - a long, straight stretch of hard-packed dirt that could easily be mistaken for a road. If it weren't for the helicopter supporting the medical team, one might not realize it was used as a landing strip.

Again, the competitors found themselves riding on a massive granite rock, and after tackling a very steep uphill climb, which was no problem for the R 1300 GS bikes, they arrived at the location for the second special challenge of the day.

Day 2, Special Challenge 2: The SENA Rock Challenge. In this challenge, competitors had to complete a lap around a large granite rock and follow a bicycle trail back to the starting line. Each rider completed the loop, with the first rider setting a reference time for the remaining two riders (or one for the female teams). The closer the three riders crossed the finish line, the higher their score. While no timing devices were allowed, riders could use their BMW Communicator Systems to time their laps.   

Rider Steven Ferguson (162) of Team UK explained the team’s tactic: “About this challenge, the riding part was the easiest. We had one rider counting the times of all three to try and be as similar as possible, and I had the easy job to go first, and my time was the time the other two had to match. I think we got pretty close.”

The morning concluded by closing the loop around the Ai Aiba lodge, where the riders returned for lunch before beginning the final part of their journey, heading further west towards the Spitzkoppe Lodge.

Riding into the heart of Namibia. With their energy restored, the riders pushed on towards Spitzkoppe, also known as the “Matterhorn of Namibia.” This iconic group of granite peaks rises dramatically from the flat desert floor, creating a striking landmark visible from many kilometers away. The route from Ai Aiba to Spitzkoppe was entirely off-road, featuring sandy tracks, rocky outcrops, and dry riverbeds that provided a variety of challenges.

Upon reaching Spitzkoppe Camp, riders had the opportunity to refuel their bikes and take in the breathtaking scenery of the surrounding area. Spitzkoppe is not only a geological marvel but also a cultural treasure, with numerous rock art sites hidden among its caves and overhangs.

The Road to Namibia conclusion. Three BMW R 1300 GS Adventure bikes began a journey from Germany, carrying the Trophies to Namibia. What better way to transport the coveted prize than on the perfect Adventure motorcycle? Nikki van der Spek, one of the riders, shared, “It was an amazing journey, with the highlight of it being the sighting of wildlife. We rode 20 meters away from rhinos, we got to see giraffes, a lot of elephants, and even lions!” When asked about the motorcycle, Vasco Santos added, “It is really impressive. If I could only use one word, it would be ‘comfort,’ especially during the extremely long riding days in Europe. We could barely realize we were on a motorcycle. The Automated Shift Assistant option had zero problems. While on the dirt, I was skeptical about it, I found out it added another layer of comfort.

The day concluded with a sense of accomplishment as riders settled in for the night under a full moon, surrounded by one of Namibia's most iconic landscapes.

Quotes:

Rider Fernando Dias (103) of Team Brazil: “I really liked this day. I prefer riding this terrain. It was not so hard for me. Team Brazil did really well today and we’re very satisfied.”

Rider Francisco Leyva (112) of Team Mexico: “It was an amazing day. It started a little bit rough with the deep sand, but as the day progressed, we felt better and better with every kilometer. We kept a nice pace, and we had a great time.”

BMW Motorrad International GS Trophy 2024, Namibia.

Day Two overall standings: 

Male Teams:

1. South Africa, 70 points
2. Germany, 65
3. International Team, 54 
4. China, 52
5. Benelux, 47
6. Brazil, 44
7. Italy, 36
8. Latin America, 32
9. South Korea, 31
10. Mexico, 29
11. India, 25
12. Middle East, Africa, 23
13. Japan, 21
14. UK, 20
15. France, 19
16. USA, 18    

Female Teams:

1. Germany, 71 

2. Japan, 71  

3. Benelux, 62 

4. France, 58 

5. South Korea, 57 

5. International Team, 57 

You can follow the BMW Motorrad International GS Trophy 2024 on the BMW Motorrad social media channels:

http://www.facebook.com/bmwmotorrad

https://www.instagram.com/bmwmotorrad

https://www.youtube.com/bmwmotorrad

https://www.linkedin.com/bmwmotorrad/showcase/bmwmotorrad

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You will find press material on BMW motorcycles in the BMW Group PressClub at https://newsroom.bmwgroup.com/global/en

In case of queries, please contact:

Damien Cagnart, Spokesperson BMW Motorrad 

Tel: +49-151-601-95806, Damien.Cagnart@bmw.de 

Tim Diehl-Thiele, Head of Communications BMW Motorrad Telephone: +49-151-601-57505, Tim.Diehl-Thiele@bmw.de

Web: www.press.bmw.de 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.

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Ai Aiba, Namibia. The 9th BMW Motorrad International GS Trophy began with a beautiful African sunrise. After breaking camp, the riders packed their gear into bags, which were later transported to the next camp. As is tradition, 2 or 3 teams were randomly selected to handle the task of loading the bags onto the transportation truck. After a hearty breakfast, the moment everyone had been eagerly anticipating arrived. Stefanie Grund, Senior Project Manager of the event, waved the checkered flag, signaling the start of this year's adventure riding event. At 7:45 am local time, Team Brazil, the International Female Team, and Female Team Japan crossed the start line to cheers from the crowd.

The competitors formed groups of 7-9 motorcycles and, guided by their appointed Marshals, embarked on the first day and first Special Challenge. Only a few kilometers away from the Midgard Country Estate Lodge, still within its perimeter, the riders faced their first Special Challenge.

Day 1, Special Challenge 1: The Namibia Welcome Trial. Near the ruins of an abandoned copper mine, the participants lined up their bikes at the starting point. The first rider’s departure marked the start of the timing for the challenge, with the other two riders (or one for a female team) following after a 5-second interval. Navigating a narrow, short trail through marked gates, the riders tackled sand, steps, drops, and tight turns. At the end, they parked their bikes side by side and rushed to the mine’s closed entrance to ring a bell. The timer stopped when the third rider hit the bell – an ideal warm-up for both the teams and the Marshals.

Although the trial seemed easy initially, many riders were caught by surprise by its narrow passes. Rider Yasuhiro Maehara (212) from Team Japan said before the start of the challenge, “I think it’s very easy, and we’re really excited to get in there!” After completing the challenge with only a few deductions, he added, “I’m sorry. It was not so easy. I had to put my foot down a few times. The short corner and the deep sand caught me off-guard.”

Rider Dev Venkatesh (202) of Team India, said: “This was the best welcome for a special challenge for me. It is the first time I ride the 1300 GS off-road and it felt incredible. Smooth like butter. The challenge was short but very technical. You don’t have room for improvement, you have to stick to your lines. But we completed the trial without any mistakes and did a clean run, so we’re very excited to learn about the results.”

Rider Sunghee Kim (301) of Female Team South Korea, said: “Although it was an easy course, we had a little bit of hard time. But we didn’t drop the bike, which was great. And we feel very welcome,” quoting the name of the special challenge. 

Leaving behind this historic estate's lush, serene landscape along the Swakop River, known for its acacia woodlands, wildlife sightings, and scenic views, the riders headed west. The nearly 200-kilometer ride offered a real warm-up, with constantly changing terrain from hard-packed dirt to loose gravel and deep sand. The magnificence of Namibia began to unfold, with rock formations dating back nearly 700 million years. The riders experienced a sense of isolation, encountering little traffic along the way while staying alert for freely roaming cattle and wildlife crossings. 

Namibia’s rainy season typically begins in December and can last until April, but this past year, the last rain fell quite early, making the riding conditions extremely dusty. The lack of wind didn’t help, leaving both riders and motorcycles looking as though they’d been on an adventure of epic proportions. This added an element of danger, as the old Enduro saying warns: "If there is dust and you can’t see the road, there will be a rock right in front of you." However, it was remarkable to see nature thriving despite the dry conditions, with trees growing on rocks, proving that even a little dirt is enough for a seed to sprout.

After the long and dusty ride, the riders arrived in Omaruru, a charming town known for its vineyards, art scene, and cultural heritage. Omaruru is home to local wineries, such as Kristall Kellerei, Namibia's only wine estate, which produces unique wines from specially adapted grape varieties. The town also boasts art galleries and the Omaruru Artist's Trail, where local artists display and sell their work.

After a much needed refueling and lunch break, the riders were ready for their first true taste of Africa. Just a few kilometers from their afternoon stop, the second special challenge awaited them.

Day 1, Special Challenge 2: The AKRAPOVIČ Enduro Challenge. The trail led to a dry riverbed – synonymous with one thing: very deep sand. The riders had to navigate an extremely sandy riverbed and complete a marked course while being timed. It soon became clear why it was called "the AKRAPOVIČ Enduro Challenge," as they blasted through the sand, revving their engines to their limit, struggling to stay on their bikes and avoid getting stuck in the river bed. This was certainly no warm-up exercise and the roaring of the engines could be heard for many kilometers away.

Rider Marion Linder (331) of the Female Team Germany, said: “This was a very demanding challenge. The sand was very deep, but we got a real taste of Africa. In fact I even got it between my teeth.”

Rider Francisco Leyva (112) of Team Mexico, after a phenomenal performance in the deep sand, was asked how many years of sand training the team had, and he said: “Four days. That’s all the time we got with this bike. We don’t know and we don’t care about the results. Me and my friends are smiling, and that’s the best outcome.”

The day’s final challenge took the riders on a detour through a phenomenal cluster of jeep tracks with challenging uphills covered by loose rocks and deep sand, leading them to the Ai Aiba Rock Painting Lodge. The camp, nestled amid imposing granite boulders at the foothills of the Erongo Mountain range, is rich in history. These ancient rock formations are the eroded remains of a volcanic complex around 130 million years old and are famous for countless rock painting sites, making Ai Aiba a mystical exploration of nature.

During today’s route, the riders had also the chance to take pictures for the third Special Challenge, the Photo Challenge. This year, their pictures will be judged by BMW officials, and the scores will count towards tomorrow’s results.

Competitors and crew were rewarded with a beautiful African sunset as they waited for the day’s results

Quotes:

Rider Ruhan De Villiers (233) Team South Africa: “This was a very nice first day. Nice gravel roads with sandy bits in between. I think the two challenges went well for us as a team, and from what I can see, it will only get more challenging from tomorrow. Definitely the last section on our way here, was the highlight of the day. Back home, I have an R 1200 GS Rallye, and I love the 1300. I think I will try to buy one when I return.”

Rider Karen Weckx (351), Female Team Benelux: “It was a fantastic day. It was tough, but it was fantastic. Beautiful scenery, beautiful tracks, especially in the afternoon, the more technical riding and that dry river crossing, I loved it. Our team did really well during the first challenge, but we struggled a lot in the second. So we’re curious about the results.”

BMW Motorrad International GS Trophy 2024, Namibia.

Day One overall standings:

Male Teams:

1. South Africa, 41 points 

2. Germany, 31

3. International Team, 30

3. Benelux, 30

5. Italy, 22

6. Brazil, 21

7. Mexico, 19

8. China, 17

9. France, 16

10. Latin America, 15

11. South Korea, 13

11. Japan, 13

11. India, 13

14. USA, 10

15. Middle East, Africa, 8  

15. UK, 8

Female Teams:

1. Japan, 41 points

2. Benelux, 37

3. France, 36

4. International Team, 31

5. Germany, 26

5. South Korea, 26

You can follow the BMW Motorrad International GS Trophy 2024 on the BMW Motorrad social media channels:

http://www.facebook.com/bmwmotorrad

 https://www.instagram.com/bmwmotorrad

 https://www.youtube.com/bmwmotorrad

 https://www.linkedin.com/bmwmotorrad/showcase/bmwmotorrad

 https://www.x.com/bmwmotorrad

 https://www.tiktok.com/@bmwmotorrad

You will find press material on BMW motorcycles in the BMW Group PressClub at https://newsroom.bmwgroup.com/global/en.   

In case of queries, please contact:

Damien Cagnart, Spokesperson BMW Motorrad Tel: +49-151-601-95806, Damien.Cagnart@bmw.de

Tim Diehl-Thiele, Head of Communications BMW Motorrad Telephone: +49-151-601-57505, Tim.Diehl-Thiele@bmw.de

Web: www.press.bmw.de

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

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/bmwgrou

The Ultimate Off-Road Challenge: An Adventure of a Lifetime

Over six days, 22 teams from around the globe — 16 men’s and 6 women’s — will navigate a challenging 1,350-kilometer route through Namibia's incredible landscapes. This event is not a race but a test of skill, endurance, and team spirit, reflecting the true spirit of the GS community as riders tackle everything from vast deserts and towering dunes to rocky trails and dry riverbeds.

To earn their place in this prestigious event, riders first competed in rigorous national qualifying events in their respective countries, where the top three male riders and the top two female riders earned the honor of representing their country as part of a team. For the first time, to ensure everyone could experience this unique adventure, BMW Motorrad organized an international qualifier at the BMW Motorrad Days 2023. This new entry point allowed riders from countries without a dedicated national team to compete and join the global GS Trophy community.

Introducing the GS Trophy Competition Bikes

The 2024 GS Trophy features the debut of the BMW R 1300 GS Trophy Competition Bike, a powerful machine developed exclusively for this event. Equipped with a 1,300cc air/liquid-cooled boxer twin engine, the R 1300 GS delivers 143 horsepower and 145 Nm of torque, paired with specialized off-road accessories like engine protection bars, adjustable levers, and robust cross-spoke wheels to handle the most challenging terrains.

The BMW F 900 GS Trophy Marshal Bike will guide participants through Namibia’s demanding routes. With its 895cc parallel-twin engine, generating 105 horsepower, and enhanced off-road capabilities, the F 900 GS serves as the perfect companion for the dynamic and unpredictable conditions of the GS Trophy.

The Route: Six Days of Pure Adventure

The 2024 GS Trophy route will take riders through Namibia’s extraordinary landscapes, offering a mix of sand dunes, rocky mountain passes, riverbeds, and dense bushland. Participants will face "special stages" that test their off-road riding capabilities, mechanical knowledge, navigation skills, intelligence, and teamwork. Each challenge is designed to highlight the versatility and ruggedness of the BMW R 1300 GS Trophy Competition Bike and the riders' resilience.

An Event Like No Other

Along with the 60 participants, 15 journalists, marshals, mechanics, medics, partner representatives, and a film and photo crew will join the event, bringing together nearly 190 people from 32 nations, 120 motorcycles, and 32 support vehicles. It is a global celebration of adventure motorcycling, capturing the very essence of the GS spirit.

Returning to the Roots: Africa

The BMW Motorrad International GS Trophy 2024 marks a significant milestone as the event returns to Africa, where it all began. The first GS Trophy was held in 2008 in Tunisia, setting the stage for one of the most celebrated and challenging adventure motorcycling events worldwide. After exploring incredible terrains in Southern Africa (South Africa, Swaziland, and Mozambique) in 2010, the GS Trophy is again embracing Africa's rugged landscapes.

Over the years, the GS Trophy has traversed some of the world’s most stunning and demanding locations: from the deserts of Tunisia to the wilds of Patagonia (2012), the forests of Canada (2014), the jungles of Thailand (2016), the steppes of Mongolia (2018), and the mountains of New Zealand (2020). Most recently, in 2022, it explored the unspoiled beauty of Albania. Now, in 2024, the GS Trophy comes full circle, returning to Africa— the birthplace of the event—to challenge a new generation of riders against Namibia's dramatic and diverse landscapes. This return to Africa is an homage to the spirit of adventure and exploration that has defined the GS Trophy since its inception.

Meet the Teams: The Faces Behind the Adventure

The 2024 BMW Motorrad International GS Trophy brings together a diverse group of talented riders from across the globe. These riders represent the spirit of adventure, determination, and camaraderie that define the BMW Motorrad GS Trophy. Here’s a look at the teams competing for glory in Namibia:

Team BRAZIL 

No. 101

Rider: Igor Rezende 

Age: 33

Hometown: Conselheiro Lafaiete, Minas Gerais, Brazil

Occupation: Mechanical Engineer

Why the BMW GS: I was drawn to the BMW GS for its versatility, allowing seamless transitions from on-road to off-road adventures on a single motorcycle.

No. 102

Rider: Tomaz Santos

Age: 35

Hometown: Itapema, Santa Catarina, Brazil

Occupation: Realtor 

Why the BMW GS: I was introduced to the world of Big Trail riding by a family friend, who sparked my passion for adventure on two wheels.

No. 103

Rider: Fernando Dias

Age: 31

Hometown: Paripora de Bom de Jesus, São Paulo, Brazil

Occupation: Personal Trainer

Why the BMW GS: Encouraged by friends familiar with my love for Big Trail and off-road riding, I was inspired to explore the GS competition.

Team MEXICO

No. 111

Rider: Juan Carlos Muñiz

Age: 30

Hometown: Mexico City, Mexico

Occupation: Motorcycle Mechanic

Why the BMW GS: In 2017, I rode an R 1200 GS for the first time, and it captured my heart. Determined to own one, I worked tirelessly to make it happen.

No. 112

Rider: Francisco Leyva

Age: 35

Hometown: Mexico City, Mexico

Occupation: Entrepreneur

Why the BMW GS: I was drawn to BMW Motorrad for its quality and the lifestyle it promotes. The GS model caught my attention for its exceptional capabilities on both asphalt and dirt.

No. 113

Rider: Juan Pablo Isaac

Age: 31

Hometown: Merida, Mexico

Occupation: Entrepreneur

Why the BMW GS: Growing up on the tank of my dad's 1955 R60, I had my first GS adventure to Chiapas at 16, and the GS has been a staple in our family ever since.

Team Latin America 

No. 121 

Rider: Valdor Warkentin 

Age: 39

Hometown: Loma Plata, Paraguay

Occupation: Veterinarian and Farmer

Why the BMW GS: After buying an F800R in 2015, I quickly realized my love for off-road riding. I transitioned to my first R 1200 GSA in 2018, diving deep into the GS world.

No. 122

Rider: Tomas Harrison

Age: 44

Hometown: Sandiago, Chile

Occupation: Civil Engineer

Why the BMW GS: Inspired by a dream of long motorcycle trips, I bought my first BMW, an R1100GS, in 2006. My passion led to global journeys and a deep love for the GS models.

No. 123

Rider: Mathias Eulerich

Age: 24

Hometown: Asuncion, Paraguay

Occupation: Entrepreneur

Why the BMW GS: Taught by my father from a young age, the first bike I drove was a GS 650 from 1999, and I’ve been hooked ever since.

Team USA

No. 131

Rider: Jacobus de Wet

Age: 44

Hometown: Crystal Beach, Texas, USA

Occupation: Maintenance

Why the BMW GS: I wanted to compete in the GS Trophy but had the wrong bike, so I got a GS and started training, which made me a better rider and pushed me to join the Namibia event.

No. 132

Rider: Kirk Graydon

Age: 57

Hometown: Simpsonville, South Carolina, USA

Occupation: Mechanical Engineer

Why the BMW GS: I discovered the GS Trophy by chance in 2017, at the BMW Riders Academy, just 15 minutes from home. After taking a class, I’ve been passionate about GS ever since. 

No. 133

Rider: Scott Acheson

Age: 58

Hometown: Middleburg, Florida, USA

Occupation: Sales Manager

Why the BMW GS: With a lifetime of riding experience, I decided to get a BMW—the original adventure bike. My 2011 BMW R 1200 GSA has taken me across diverse terrains nationwide.

Team Benelux

No. 141

Rider: Jeffrey Kiestra

Age: 29

Hometown: Burgum, The Netherlands

Occupation: Leasing Company / Volunteer Firefighter

Why the BMW GS: Inspired by a family training session on a GS, we fell in love with the experience and have been riding GS bikes ever since, exploring off-road adventures.

No. 142

Rider: Stephan Sleeckx