Foto: BMW Group
Following a third quarter characterised by exceptional charges as a result of the technical actions relating to the Integrated Brake System (IBS), the BMW Group expects a final quarter with sequentially rising deliveries. As outlined in the ad hoc announcement of 10 September, the technical campaigns in the reporting period from July to September – in addition to the reluctance to buy in China – dampened the sales and revenue situation. Furthermore, additional warranty expenses in the high three-digit million range were incurred. As a consequence, the BMW Group adjusted its forecast for the year. Despite this, the ramp-up of e-mobility remains intact and also contributed to the BMW Group’s success in the third quarter: BEV deliveries grew significantly by +10.1% year-on-year, while the share of all-electric vehicle sales rose to 19.1% per cent.
In total, the BMW Group delivered 1,754,157 cars in the nine-month period (2023: 1,836,563 cars/ -4.5%). In the third quarter, the premium manufacturer delivered 540,881 BMW, MINI and Rolls-Royce brand vehicles (2023: 621,699 vehicles/ -13.0%). The BMW Group benefited from its global presence and was able to balance out the different sales trends in the major regions of the world. The BMW brand grew by +4% outside China, gaining +0.1 percentage points in global market share, while the premium brands MINI and Rolls-Royce were in the process of changing models.
In Europe, the BMW brand achieved moderate growth of +7.6% in September, with deliveries increasing significantly in individual markets such as Spain, the UK, France and Italy. Despite the IBS-related measures in the Americas region and delivery stops in the US market, deliveries reached the previous year’s level and BMW maintained a stable market share.
The company is working flat out to replace the IBS components and is pressing ahead with the processing of vehicles in customer hands and those in stock. Most of the vehicles in stock will be delivered before the end of the year once the components have been replaced.
‘After the extraordinary burdens in the third quarter, we are looking ahead: In the fourth quarter, despite high planned upfront expenditure, we are back on course for stronger earnings in order to achieve our annual targets,’ said Oliver Zipse, Chairman of the Board of Management of BMW AG, on Wednesday. ‘At the same time, we are maintaining a balance between securing short-term earnings and long-term success: This year, we are investing more than ever before in new products, technologies and our plants so that we can continue BMW’s success story with the NEW CLASS from next year.’
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