SHERIDAN, WYOMING – November 29, 2024 - The BMW Group, a global leader in premium automobiles and motorcycles, recently shared its strategic direction and outlook for the future during a conference call led by Chairman of the Board of Management, Oliver Zipse. The company emphasized its commitment to technology openness, global presence, and a strong product lineup to navigate the evolving automotive market.
Navigating Challenges, Embracing Opportunities
Zipse acknowledged the challenges faced in the third quarter of 2024 but expressed confidence in the company's ability to achieve its annual targets. "After the extraordinary challenges in the third quarter, we are looking ahead: In the fourth quarter, we are back on track for stronger earnings in order to achieve our annual targets, despite planned high upfront expenditures," he stated.
Global Presence and Market Adaptability
BMW's global presence across sales, production, and supplier networks provides a strong foundation for navigating fluctuating market conditions. Zipse highlighted the company's ability to compensate for regional variations in demand, while closely monitoring developments in key markets like China.
Product Leadership and Sales Growth
BMW's attractive product lineup has fueled solid sales growth, particularly in Europe. The company reported significant sales increases in key European markets, including the UK, Spain, Italy, and France. Global demand for high-margin models in the upper vehicle segments remains strong, with BMW M high-performance cars showing continued growth.
Electrification Strategy Drives Momentum
BMW's commitment to electrification is evident in its diverse range of all-electric models across the BMW, MINI, and Rolls-Royce brands. The company reported strong sales of battery electric vehicles (BEVs), with almost 300,000 units sold in the first nine months of 2024, representing a 19% increase year-on-year.
"While other manufacturers – including some that only produce electric cars – are seeing a significant decrease in sales, battery-electric vehicles remain a growth driver for us in 2024," Zipse affirmed.
NEUE KLASSE: Shaping the Future of Mobility
The NEUE KLASSE, BMW's next generation of electric vehicles, is on track for its launch next year. With innovative design, advanced electric drivetrains, and a comprehensive digital experience, the NEUE KLASSE promises to set new standards in the automotive industry.
Technology Openness: A Key to Future Success
BMW remains committed to technology openness, recognizing the importance of diverse drivetrain solutions to meet evolving customer needs and regulatory requirements. The company plans to introduce its first series-produced fuel cell vehicle in 2028, further expanding its portfolio of sustainable mobility solutions.
Advocating for Free Trade and Global Collaboration
Zipse emphasized the importance of free trade and a reliable framework for the automotive industry to thrive. He expressed concerns about protectionist measures, such as tariffs on imported electric vehicles, which could hinder industry growth and innovation.
Investing in the Future
The BMW Group continues to invest in new products, technologies, and production facilities to secure its long-term success. The company is expanding its global production network, including new assembly plants for high-voltage batteries, to support the rollout of the NEUE KLASSE and future generations of vehicles.
A Balanced Approach to Sustainable Mobility
BMW's strategic direction reflects a balanced approach to sustainable mobility, combining electrification, technology openness, and global collaboration. The company is committed to meeting regulatory requirements while offering customers a diverse range of innovative and attractive vehicles.
Looking Ahead with Confidence
Despite the challenges facing the automotive industry, the BMW Group remains confident in its ability to navigate the changing landscape and achieve its goals. The company's strong product lineup, global presence, and commitment to innovation position it for continued success in the years to come.