Click to enlarge
BMW (XETRA: BMWG.DE) said today that Group revenues totaled €31,007 million (2025: € 33,758 million; -8.1%; adjusted for currency translation effects: -4.3%).* It noted the persistently intense competition in the automotive sector – particularly in China – as well as the slight decline in sales. Furthermore, adverse currency effects had a negative impact, primarily the Chinese Renminbi (Yuan) and the US dollar.
“Once again, our earnings for the first quarter demonstrate the value of strategic consistency, operational strength and a high degree of flexibility. We are well positioned to deliver continued success, despite challenging conditions,” claimed Oliver Zipse, Chairman of the Board of Management of BMW AG.**
[The questions for 2026 are whether EVs are salable without money on the hood so to speak in the U.S. How increased low-cost Chinese EVs in Europe affect premium brand sales, and the whim or dementia of the moment of the Trump Administration tax and tariff policies and their negative effects on global trade. Trump said last Friday that he would boost tariffs on EU cars and trucks to 25% this week from 15%. BMW does have significant production capacity in the U.S., but its output is largely for export so far– AutoCrat?]*
The BMW Group delivered a total of 565,780 vehicles to customers worldwide in Q1 2026. This is a decrease of -3.5% compared year-over-year. The BMW brand delivered a total of 496,006 vehicles to customers across the world in the first quarter of 2026 (-4.6%). One in ten of all BMW units delivered was a BMW M model.
MINI Growing
The MINI brand increased its global sales for the fifth consecutive quarter, delivering 68,503 vehicles – growth of +6.0%. BEVs accounted for 35.1% of all MINI deliveries. The Rolls-Royce brand delivered a total of 1271 vehicles to customers in the first quarter (-8.0%). BMW Motorrad delivered 42,735 motorcycles and scooters to customers over the same period (-4.2%).
BEV Sales Rising in Europe
The BMW Group’s vehicle deliveries increased by 3.1% across all drivetrains in Europe, its largest sales region. Battery electric vehicles accounted for 25.3% of all sales in Europe (global: 15.5%). “The BMW Group remains confident that it will meet the EU (27 + 2) CO₂ targets for 2026.”
In the Americas sales region, which slightly declined by -4.0%, the decline in deliveries of all-electric BMW automobiles was largely offset by increased deliveries of vehicles with combustion engines.
In China, where the total market contracted sharply by -17.5%, BMW Group deliveries performed somewhat better, falling by -10.0% during the reporting period.
Cost Management Continues to Help Results?
“The BMW Group successfully delivered nominal costs reductions in the first quarter to tackle external challenges. The cost of sales went down by -6.4%, while administrative and sales expenses fell by -5.1% across the Group. As planned, the Company reduced its research & development expenditure from the 2024 peak to € 1,755 million (Q1/2025: € 1,984 million; -11.5%). The research & development expenditure ratio (German Commercial Code) fell to 5.7% (Q1/2025: 5.9%). Investments also decreased in the first quarter to € 1,723 million in line with planning (Q1/2025: € 2,819 million; -38.9%). The capital expenditure ratio came in at 2.0% (Q1/2025: 3.6%).
Flexibility and speed of execution are two of the BMWGroup’s strengths. That’s abundantly clear with the Neue Klasse – a stringent and comprehensive renewal of our entire vehicle portfolio in record time. The automotive innovations coming to market will strengthen our competitive position and improve our profitability,” said Chief Financial Officer Walter Mertl. “In a demanding economic environment, we remain highly focused on costs, leveraging multiple opportunities across the company with an approach designed to deliver sustained results.”
The 2026 Financial Year Outlook
The BMW Group confirmed today its full year forecast after the first quarter, in a deteriorating economic environment provoked by the Iran war and Trump Administration tax and tariff policies. “Forecasts for the global economy and automotive markets have been revised downwards in recent weeks. The global automotive market is now expected to see a slight decrease.
- For the 2026 financial year, the BMW Group continues to expect a higher level of volatility related to tariffs. The company anticipates a negative impact from higher tariffs of around 1.25 percentage points on the EBIT margin in the Automotive segment.
- The geopolitical situation in the Middle East is currently characterized by a high degree of uncertainty due to the ongoing conflict in the region. The outlook assumes that the conflict will not be enduring.
- The BMW Group continues to see overall growth potential in Europe and the United States. In China, the company looks to balance sales volume, transaction prices and dealer profitability.
- Globally, the company forecasts that deliveries will be on a par with the previous year and that fully-electric vehicles will account for the same share of sales as 2025.
- A moderate decline in Group earnings before tax is expected for 2026.”
*AutoInformed on
**Inevitable BMW Group Q1 2026 Financial Results Footnotes
- Profit before financial result as percentage of segment revenues.
- Group profit before tax as a percentage of Group revenues.
- Shares of ordinary / preferred shares. In computing earnings per share of preferred shares, earnings to cover the additional dividend of €0.02 per share of preferred shares are spread over the four quarters of the corresponding financial year.
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 Q1 2026 Sales Soft. Earnings at €2.348 Million Drop
Click to enlarge
BMW (XETRA: BMWG.DE) said today that Group revenues totaled €31,007 million (2025: € 33,758 million; -8.1%; adjusted for currency translation effects: -4.3%).* It noted the persistently intense competition in the automotive sector – particularly in China – as well as the slight decline in sales. Furthermore, adverse currency effects had a negative impact, primarily the Chinese Renminbi (Yuan) and the US dollar.
“Once again, our earnings for the first quarter demonstrate the value of strategic consistency, operational strength and a high degree of flexibility. We are well positioned to deliver continued success, despite challenging conditions,” claimed Oliver Zipse, Chairman of the Board of Management of BMW AG.**
[The questions for 2026 are whether EVs are salable without money on the hood so to speak in the U.S. How increased low-cost Chinese EVs in Europe affect premium brand sales, and the whim or dementia of the moment of the Trump Administration tax and tariff policies and their negative effects on global trade. Trump said last Friday that he would boost tariffs on EU cars and trucks to 25% this week from 15%. BMW does have significant production capacity in the U.S., but its output is largely for export so far– AutoCrat?]*
The BMW Group delivered a total of 565,780 vehicles to customers worldwide in Q1 2026. This is a decrease of -3.5% compared year-over-year. The BMW brand delivered a total of 496,006 vehicles to customers across the world in the first quarter of 2026 (-4.6%). One in ten of all BMW units delivered was a BMW M model.
MINI Growing
The MINI brand increased its global sales for the fifth consecutive quarter, delivering 68,503 vehicles – growth of +6.0%. BEVs accounted for 35.1% of all MINI deliveries. The Rolls-Royce brand delivered a total of 1271 vehicles to customers in the first quarter (-8.0%). BMW Motorrad delivered 42,735 motorcycles and scooters to customers over the same period (-4.2%).
BEV Sales Rising in Europe
The BMW Group’s vehicle deliveries increased by 3.1% across all drivetrains in Europe, its largest sales region. Battery electric vehicles accounted for 25.3% of all sales in Europe (global: 15.5%). “The BMW Group remains confident that it will meet the EU (27 + 2) CO₂ targets for 2026.”
In the Americas sales region, which slightly declined by -4.0%, the decline in deliveries of all-electric BMW automobiles was largely offset by increased deliveries of vehicles with combustion engines.
In China, where the total market contracted sharply by -17.5%, BMW Group deliveries performed somewhat better, falling by -10.0% during the reporting period.
Cost Management Continues to Help Results?
“The BMW Group successfully delivered nominal costs reductions in the first quarter to tackle external challenges. The cost of sales went down by -6.4%, while administrative and sales expenses fell by -5.1% across the Group. As planned, the Company reduced its research & development expenditure from the 2024 peak to € 1,755 million (Q1/2025: € 1,984 million; -11.5%). The research & development expenditure ratio (German Commercial Code) fell to 5.7% (Q1/2025: 5.9%). Investments also decreased in the first quarter to € 1,723 million in line with planning (Q1/2025: € 2,819 million; -38.9%). The capital expenditure ratio came in at 2.0% (Q1/2025: 3.6%).
Flexibility and speed of execution are two of the BMWGroup’s strengths. That’s abundantly clear with the Neue Klasse – a stringent and comprehensive renewal of our entire vehicle portfolio in record time. The automotive innovations coming to market will strengthen our competitive position and improve our profitability,” said Chief Financial Officer Walter Mertl. “In a demanding economic environment, we remain highly focused on costs, leveraging multiple opportunities across the company with an approach designed to deliver sustained results.”
The 2026 Financial Year Outlook
The BMW Group confirmed today its full year forecast after the first quarter, in a deteriorating economic environment provoked by the Iran war and Trump Administration tax and tariff policies. “Forecasts for the global economy and automotive markets have been revised downwards in recent weeks. The global automotive market is now expected to see a slight decrease.
*AutoInformed on
**Inevitable BMW Group Q1 2026 Financial Results Footnotes
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.