“Contrary to assumptions made to date, the BMW Group now assumes that reimbursements of customs duties from the American and German authorities totaling a high three-digit million figure will not be received in 2025 but only paid in 2026. Considering these reimbursements and the impact on profit outlined above, free cashflow in Segment Automotive for the year 2025 is expected to be above €2.5bn (previously above €5bn).

“The dividend payout ratio remains in the corridor of 30% to 40% of net income attributable to BMW AG shareholders. Additionally, the BMW Group remains committed to the share buyback program,” BMW said.