Click to enlarge.
The BMW Group (BMW.DE) today announced that year-on-year (YoY) it achieved a slight +2.4% increase in deliveries, reaching a total of 1,795,734 vehicles in the YTD September (2024: 1,754,157). In Q3, the automaker delivered 588,140 BMW, MINI and Rolls-Royce vehicles to customers (2024: 540,881. YoY +8.7%).*
“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.”
During the first nine months, of 2025 the largest growth rate 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 were at 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 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 celebrate the next premiere, with the BMW i3, as we electrify the heart of BMW.”
During the nine-month period, the BMW Group said it 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 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 or -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 or -5.6%; adjusted for currency translation effects -3.9%).
Lower R&D Spending and Capital Expenditures
As previously announced, the BMW Group has moved from last year’s record levels of future investment, which were required for electrification and digitalization 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/ or -10.6%; Q3: €1,921 million;Q3 2024: € 2,473 million or -22.3%) with increased 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% or -0.4 percentage points; in Q3 2024 at 7.6%).
As planned, capital expenditure was also significantly lower, at €4410 million for the nine-month period and €1,674 million for the third quarter (2024: € 5,641 million or -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%.
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.
*AutoInformed on
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
BMW Group Posts Q3 €8B in Pre-Tax Earnings
Click to enlarge.
The BMW Group (BMW.DE) today announced that year-on-year (YoY) it achieved a slight +2.4% increase in deliveries, reaching a total of 1,795,734 vehicles in the YTD September (2024: 1,754,157). In Q3, the automaker delivered 588,140 BMW, MINI and Rolls-Royce vehicles to customers (2024: 540,881. YoY +8.7%).*
“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.”
During the first nine months, of 2025 the largest growth rate 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 were at 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 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 celebrate the next premiere, with the BMW i3, as we electrify the heart of BMW.”
During the nine-month period, the BMW Group said it 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 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 or -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 or -5.6%; adjusted for currency translation effects -3.9%).
Lower R&D Spending and Capital Expenditures
As previously announced, the BMW Group has moved from last year’s record levels of future investment, which were required for electrification and digitalization 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/ or -10.6%; Q3: €1,921 million;Q3 2024: € 2,473 million or -22.3%) with increased 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% or -0.4 percentage points; in Q3 2024 at 7.6%).
As planned, capital expenditure was also significantly lower, at €4410 million for the nine-month period and €1,674 million for the third quarter (2024: € 5,641 million or -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%.
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.
*AutoInformed on
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.