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Tag Archives: Oliver Zipse
Dr. Norbert Reithofer, Supervisory Board Chair of BMW Retires
The BMW Group* (Bayerische Motoren Werke AG ADR BMWYY) said today that Dr. Norbert Reithofer, Chairman of the Supervisory Board of BMW AG since 2015, and closely associated with the company for nearly four decades, is stepping down from his position, effective immediately.
“After 38 years, it is time for me to say goodbye to the BMW Group. It has been an honor to be a part of this exceptional company. I would like to thank all our associates, shareholders and stakeholders for your trust and support,” said Reithofer. “Together, we have overcome tremendous challenges and celebrated unparalleled successes. I firmly believe that the BMW Group will continue to follow its own unique BMW path.” Continue reading
Posted in auto news, milestones, mobility company, news analysis, people, shows and events
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Board of Management of BMW AG, Dr. Nicolas Peter, Dr. Norbert Reithofer, German Corporate Governance Code, Ken Zino, Oliver Zipse, X @KenAutoinformed
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BMW Group Q1 2025 Earnings Drop 25%
“The more challenging the environment, the more crucial it is to have compelling products, a consistent strategy and a high degree of flexibility. Our technology-open approach remains a key success factor: with our young, highly attractive models and our broad range of drives, we are able to meet the various needs of customers worldwide. This enables us to achieve robust results and stay on course to meet our ambitious full-year targets,” said Oliver Zipse, Chairman of the Board of Management of BMW AG. Continue reading
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. Continue reading
BMW Manufacturing is Largest US Automotive Exporter
BMW Manufacturing led the nation in automotive exports by value, according to data released by the US Department of Commerce. The South Carolina plant exported 227,029 BMW Sports Activity Vehicles and Coupes during 2022 with an export value of ~$9.6 … Continue reading
BMW Group to Spend $1.7B to Make Electric Vehicles in US
The new Woodruff factory will encompass over 1 million sq. ft. and produce next generation batteries for fully electric vehicles. About, and 300 new jobs will be created on site. Plant Spartanburg currently produces lithium-ion battery modules for the two plug-in hybrid electric vehicles built at the plant, the BMW X3 xDrive30e and BMW X5 xDrive45e. In 2021, ~70,000 electrified BMWs were built on site. Continue reading
BMW Group Q1 – Record Deliveries of 637,000, up 33%
Improved revenues and earnings of €4.26 per share were driven by a combination of higher sales volume figures across all regions of the world, particularly in China, and higher selling prices. Helpful effects also came from the sharp rise in prices of used vehicles, causing revenues from the sale of previously leased vehicles to rise, above all in the USA where the Biden Administration economy is soaring. Group revenues grew by 15.2% to €26,778 million (2020: €23,252 million; +18.9% adjusted for currency factors). Continue reading
Posted in financial results
Tagged auto industry commentary, autoinformed, autoinformed.com, BMW AG, BMW Group Q1, Ken Zino, Oliver Zipse
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BMW Group Posts Q3 €8B in Pre-Tax Earnings
“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.” Continue reading →