Bmw overtakes Mercedes in revenues and estimates stable margins in 2024
In 2023 operating profit of 18.4 billion, the highest value in the company's history. Offensive in sight with the Neue Klasse in 2025
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Bmw files an excellent 2023 but says its high-end electric vehicles, 15 new models across brands, will drive moderate growth overall in 2024. The German luxury car maker estimates an Ebit margin of between 8% and 10% for its car segment this year, in line with the 2023 figure (which was 9.8%, initially forecast to be between 9 and 10.5%, thus lower than expected due to higher costs).
The picture is expected to improve from 2025, when the Munich-based company will launch a new line of fully digital and sustainable, high-end, super high-tech electric vehicles called Neue Klasse. With this new series, the range of the cars will increase by up to 700 km, +30%, and charging times will be cut by the same amount: 10 minutes to get 300 kilometres. Profitability should be ensured by 20 per cent lower production costs.
Oliver Zipse, CEO of BMW, presented the Neue Klasse X concept, the suv that will go into production in the second half of 2025 in Hungary, at the opening of the annual conference. The sports saloon, on the other hand, will be assembled from 2026 na Munich. Five more models will follow by 2027. The group expects that from 2025, 30 per cent of the cars sold will be electric, and 50 per cent by 2030, of course if 'market conditions, the evolution of raw material prices and their availability, as well as the pace of infrastructure recharging' allow it.
A big question mark, Zipse reiterated during the press call, will be 'consumer behaviour' and for this the European Commission will necessarily have to be flexible. Bmw is in favour of a revision of the European emissions regulation. Also because Brussels has set conditions, according to Zipse, without offering the option of alternative technologies to the electric car: only limits not to be crossed. And in any case Bmw in 2023 was under the established CO2 emission ceiling.
In 2023, meanwhile, delivery was a record, above 2.5 million. Electrics reached 375,000, or 15% of sales and 74% more than in 2022. Looking at different regions, in the US, a total of 395,741 BMW and Mini vehicles were delivered to customers between January and December 2023. This represents an increase of 9.4 per cent. In Europe, sales totalled 942,805 units for the full year 2023 (+7.5%). In China, 824,932 Bmw and Mini vehicles were sold in 2023 (+4.2%).
