BMW Group on way to achieve 2019 targets

THE BMW Group recorded growth in deliveries, revenues and earnings in the third quarter and is therefore well on its way to achieving its targets for 2019. Group net profit increased at a double-digit percentage rate, helped to some extent by a base effect from the previous year’s reported figures. Moreover, profitability has continued to improve over the course of the nine-month period. To compensate for the high upfront expenditure on future-oriented technologies, the BMW Group is working hard on continually improving efficiency.

‘At the nine-month stage, we are well on our way to achieving our targets for the year as a whole,’ said Oliver Zipse, Chairman of the Board of Management of BMW AG, in Munich.

‘However, we are looking further into the future, having recognised that far-reaching technological transformation is a great opportunity for the BMW Group. I am convinced that our business model will only benefit from this. The vehicle of the future, with all its integrated digital functions, is a high-tech product of a complexity that is still underestimated.’

The BMW Group sees enormous potential for the future role of the automobile sector on the back of these technological developments:

The Group is significantly expanding its range of e-mobility products. By 2023, the company will have 25 electrified models on the roads – more than half of which will be all-electric. The key to implementation is highly flexible vehicle architectures and an equally agile production system that enables a model to be manufactured as an all-electric, a plug-in hybrid or a combustion engine version to ideally meet demand in each relevant market segment. By 2021, demand for electrified vehicles is likely to double compared to 2019. The BMW Group then expects to see a steep growth curve up to 2025, with sales of electrified vehicles growing on average by more than 30% annually.

By the end of 2021, the company aims to have more than a million all-electric or plug-in hybrids on the roads worldwide.