What’s Happening: The BMW Group is looking forward to financial year 2023 with optimism, thanks to profitable growth in a persistently challenging business environment and a dynamic increase in electric vehicle sales. The company is preparing for the launch of its next product generation, the NEUE KLASSE, in two years.
Why It Matters: The growth of electric vehicle sales is crucial for the BMW Group to maintain profitability while transitioning to a more sustainable future. With new luxury-class models, the company expects to see growth in the mid-double-digit percentage range for 2023.
- The main growth drivers in 2023 will be fully-electric (BEV) vehicles and high-end premium segment models, such as the new BMW 7 Series, the updated BMW X7, and the Rolls-Royce model family.
- BMW Group expects its global automotive segment deliveries to increase slightly in 2023.
- The company is targeting an EBIT margin of 8-10% in the automotive segment for the financial year.
- In 2023, BMW Group expects BEV models to account for 15% of total sales.
- MINI and Rolls-Royce will become electric-only brands in less than ten years.
- The BMW Group aims to deliver over 10 million fully-electric vehicles to customers by 2030.
Bottom Line: BMW Group is anticipating significant growth in electric vehicle sales in 2023, driven by its strong product portfolio and new luxury-class models. The company is well-positioned to transition to a more sustainable future while maintaining profitability, with plans to make MINI and Rolls-Royce electric-only brands within the next decade. The upcoming launch of the NEUE KLASSE product generation will further solidify BMW Group’s commitment to electric vehicles and sustainable mobility.