The BMW Group said today in Munich that during Q1 of 2024 it delivered 594,533 automobiles. This means, the company posted a tiny increase of 1.1% compared to the previous year. Throughout the three-month period, the major automotive markets largely showed an upward trend based on pent up demand and increased sales in the mid-price volume segment. (AutoInformed on: Mercedes-Benz Q1 2024 Profit Drops 25% as Sales Slump)
“The past nine quarters underline BMW’s continuity and reliability: As planned, we are dynamically expanding the share of electric vehicles while maintaining our high level of profitability. Some call this transformation — for us, it is continuous progress,” said the Chairman of the Board of Management of BMW AG, Oliver Zipse.
The EBIT margin in the Automotive segment of 8.8% was within the target range of 8-105, according to the previous full-year guidance. At 11.4%, the EBIT margin at Group level was above the strategic target of >10 %. First-quarter Group revenues totaled €36,614 million less than the previous year’s record high (2023: € 36,853 million/-0.6%).
BMW Group claimed it benefited with relatively young product line-up: The BMW brand sold 530,933 units in Q1– an increase of +2.5% year-on-year. It achieved sales growth of 2.4% (84,475 units) in the USA and growth of 10.2% in Europe with 188,863 units delivered. In China, the volume segment developed dynamically in lower price ranges, while the premium segment declined slightly. The BMW brand sold 182,998 vehicles, in line with segment development (2023: 190,774 units/-4.1%). In Germany, deliveries grew by 4.6% to 49,509 vehicles.
Q1 By Major Market
- 4% growth (84,475 units) in the USA.
- 2% in Europe with 188,863 units delivered.
- China, the volume segment developed dynamically in lower price ranges, while the premium segment declined slightly. The BMW brand sold 182,998 vehicles, in line with segment development (2023: 190,774 units or -4.1%).
- In Germany, deliveries grew by 4.6% to 49,509.
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 – Good Q1 Earnings on Slight Sales Increase
The BMW Group said today in Munich that during Q1 of 2024 it delivered 594,533 automobiles. This means, the company posted a tiny increase of 1.1% compared to the previous year. Throughout the three-month period, the major automotive markets largely showed an upward trend based on pent up demand and increased sales in the mid-price volume segment. (AutoInformed on: Mercedes-Benz Q1 2024 Profit Drops 25% as Sales Slump)
“The past nine quarters underline BMW’s continuity and reliability: As planned, we are dynamically expanding the share of electric vehicles while maintaining our high level of profitability. Some call this transformation — for us, it is continuous progress,” said the Chairman of the Board of Management of BMW AG, Oliver Zipse.
The EBIT margin in the Automotive segment of 8.8% was within the target range of 8-105, according to the previous full-year guidance. At 11.4%, the EBIT margin at Group level was above the strategic target of >10 %. First-quarter Group revenues totaled €36,614 million less than the previous year’s record high (2023: € 36,853 million/-0.6%).
BMW Group claimed it benefited with relatively young product line-up: The BMW brand sold 530,933 units in Q1– an increase of +2.5% year-on-year. It achieved sales growth of 2.4% (84,475 units) in the USA and growth of 10.2% in Europe with 188,863 units delivered. In China, the volume segment developed dynamically in lower price ranges, while the premium segment declined slightly. The BMW brand sold 182,998 vehicles, in line with segment development (2023: 190,774 units/-4.1%). In Germany, deliveries grew by 4.6% to 49,509 vehicles.
Q1 By Major Market
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.