Tag Archives: 2023

News

Royal Enfield Announced the Pricing on the New Shotgun 650

Way again in December 2023, we have been capable of get our first look at the long-awaited Royal Enfield Shotgun 650. While it did not look precisely like the SG650 Concept first unveiled at EICMA a number of years earlier, it nonetheless appeared fairly darn good.

Considering the truth that lots of manufacturing machines find yourself not trying something like their idea variations (a lot to the chagrin of fanatics), we predict it turned out remarkably effectively. And we, in fact, said as much in our First Ride Review.

But till now, you’d just about simply must take our phrase for it when you stay in North America. But that is lastly coming to a detailed as Royal Enfield simply dropped how a lot the bike will value and it fairly cheap. 

Here’s What The Shotgun 650 Will Cost In The US And Canada

Like most OEMs that promote in a number of markets, Royal Enfield publicizes pricing and availability data for various markets in waves.

In January 2024, we learned about Indian and European pricing, and we famous that the Shotgun 650 was priced barely decrease than the Super Meteor 650 in these markets. At that point, we speculated that this might give us what to anticipate when it lastly got here to North America.

Friends, now that completely satisfied day has arrived, and it appears to be like like we have been bang on the cash. In the US, the Royal Enfield Shotgun 650 will begin at an MSRP of $6,899, whereas our Canadian associates will discover an MSRP of $9,199. 

For comparability, the Super Meteor 650 begins at $6,999 within the US and $9,599 in Canada. That’s simply above the place the Shotgun 650 is priced in each markets.


Royal Enfield Shotgun 650 - Characters - Badass

41 Photos

650 Twins Fans, The Continental GT 650 And INT 650 Are Getting Some Updates, Too

If you’ve got been watching the rollout of the Super Meteor 650 and the Shotgun 650 and questioning when the Continental GT 650 and INT650 have been going to get some love, concern not. Royal Enfield bought you all one thing good, too.

For 2024, each the Continental GT 650 and INT650 get new colorways, in addition to LED headlights, new CEAT tires that Enfield says are “improved,” a extra snug seat with a redesigned mesh and foam saddle, adjustable brake and clutch levers, the cool machined aluminum switchgear housing that debuted on the Super Meteor 650 and can be discovered on the Shotgun 650, and new grips.

The 2024 Royal Enfield Continental GT 650 begins at an MSRP of $6,349 within the US and $8,499 in Canada. Choose the 2024 Royal Enfield INT650 as a substitute, and the MSRP begins at $6,149 within the US and $8,199 in Canada.

You can try this picture gallery under to check out all the brand new colorways. Which one is your favourite? Let us know within the feedback.


Royal Enfield Continental GT 650 - Apex Gray - Front Left Angle View

99 Photos

Featured

Honda Elevate Has Now Reached 30,000 Homes In India

The Honda Elevate was launched in India in September 2023 as an all-new product from India after 2017

Honda Elevate

  • The made-in-India Honda Elevate has additionally been launched in Japan, because the Honda WR-V

  • Honda India’s exporting markets embody Turkey, Mexico, the Middle East, South Africa, and Nepal.

  • The Japan-spec Honda WR-V makes use of the identical 1.5-litre engine however produces much less energy and torque.

  • In Japan, the Elevate is priced between Rs 11.54 lakh to Rs 13.69 lakh in INR (transformed).

  • In India, the Elevate is priced between Rs 11.58 lakh and Rs 16.20 lakh (ex-showroom pan India).

The Honda Elevate is the most recent providing from the Japanese automaker, with India as its first market. The Elevate was launched right here in September 2023 within the compact SUV area, and within the final six months since its launch, the compact SUV has reached 30,000 prospects in India.

Launched In Japan As WR-V

Honda Elevate

The ‘Made in India’ Honda Elevate has now been launched in Japan underneath the WR-V nameplate. Honda India has been exporting to each left-hand-drive markets (Turkey, Mexico, and Middle East) and right-hand-drive markets (Nepal, Bhutan, South Africa and SADC international locations). Now, Japan marks the latest addition to Honda India’s export enterprise.

Also Check Out: Volkswagen Won’t Offer A Sub-4m SUV In India, To Focus On Premium Models

More About Japan-spec Honda Elevate (WR-V)

Honda WR-V Japan-spec

The Japan-spec Honda Elevate, often called the WR-V there, employs the identical 1.5-litre naturally aspirated petrol engine because the India-spec mannequin however provides a decrease output of 118 PS and 142 Nm. For reference, the India-spec Honda Elevate generates 121 PS and 145 Nm with the identical engine. It’s vital to notice that the Honda WR-V in Japan is proscribed to the CVT automated gearbox, whereas in India it comes with the choice of each a 6-speed guide and a CVT.

Honda WR-V Japan-spec Interior

The Japanese model of the Elevate comes with options like a smaller 9-inch touchscreen infotainment system with Apple CarPlay and Android Auto assist and electrically adjustable and foldable ORVMs, although it doesn’t get a sunroof. Safety is taken care of by six airbags, hill begin help, ABS with EBD, traction management system, and superior driver help programs (ADAS) like adaptive cruise management, lane departure warning, and automated emergency braking.

The India-spec Elevate is a little more feature-loaded than its Japanese counterpart, because it will get an even bigger 10.25-inch touchscreen infotainment system, a wi-fi telephone charger, and a sunroof. 

Also Check Out: Hyundai Venue E vs Kia Sonet HTE: Which Entry-level SUV To Go For?

Honda Elevate (WR-V) Price Range In Japan

In Japan, the Honda WR-V is priced between 2,098,800 yen to 2,489,300 yen (Rs 11.54 lakh to Rs 13.69 lakh in INR). In India, the Elevate is priced between Rs 11.58 lakh and Rs 16.20 lakh (ex-showroom pan-India). Here, it rivals the likes of the Maruti Grand Vitara, Hyundai Creta, Kia Seltos, Volkswagen Taigun, Toyota Hyryder, Skoda Kushaq, and Citroen C3 Aircross.

Disclaimer: Price transformed on the time of wiring this text, and should differ relying on time.

Read More on : Elevate on road price

Motorsport

The 2025 Nissan Kicks Finally Gets All-Wheel Drive

When we first noticed camouflaged prototypes of the next-generation Nissan Kicks in July 2023, we knew vital adjustments had been coming to Nissan’s small crossover. Now, the covers are lifted and we’re handled to a really symmetrical design that is a little bit greater and packs an incredible punch. Say hey to the 2025 Nissan Kicks.

Right away, you will discover Nissan’s signature V-Motion grille is gone. In reality, there is not a single reference to V-Motion anyplace within the Kicks press launch. Look carefully on the new face, nevertheless, and you will see vestiges of the previous design language. The openings on the bladed grille slant inwards, culminating in a ridge atop the fascia. At the highest, slender headlights additionally angle downwards on the internal edges. It’s a really clear, squarish look that extends rearward with a excessive, straight beltline.

2025 Nissan Kicks
2025 Nissan Kicks
2025 Nissan Kicks

Things are a bit extra fascinating on the again. Nissan retains the floating roof motif with an accessible two-tone look, and the Kicks “kink” within the pillar remains to be there too. It provides solution to a much less blocky rear gate with outstanding vertical taillights mounted excessive on the corners. Overall, it is a very totally different look in comparison with the outgoing Kicks. The new model has a bigger, extra upright look.

It’s not simply an look, both. Nissan says the 2025 Kicks is larger, although actual specs aren’t accessible but. We’re advised there’s simply over an inch extra shoulder room for entrance and rear passengers, with these within the again getting slightly below an additional inch for knees. With the rear seats up you get 30 extra cubic ft of cargo area, or 60 extra cubes with them folded. Nissan says the area is best-in-class, and the rear opening area of 40.3 inches can also be listed as best-in-class.

2025 Nissan Kicks

Space actually issues in a small SUV, however we suspect occupants might be extra within the Kicks’ digital improve. The new inside is radically totally different due to a pair of show screens for the motive force middle infotainment system. That middle display screen measures as much as 12.3 inches, with a 7-inch display screen put in as normal. It controls an array of tech that features non-obligatory 360-degree surround-view cameras and an accessible Bose 10-speaker sound system. Wireless Apple CarPlay and Android Auto are constructed into the system.

Underneath all of it, you will discover a new 2.0-liter four-cylinder engine making 141 horsepower and 140 pound-feet of torque, managed by a CVT. And for the primary time, you may ship that energy to all 4 wheels with Nissan’s Intelligent All-Wheel Drive system. Thus outfitted, Nissan provides a snow mode that’s designed particularly for all-paw efficiency on slippery surfaces.

2025 Nissan Kicks
2025 Nissan Kicks

Further aiding drivers are options equivalent to automated emergency braking, rear cross-traffic alert, rear automated braking, and lane departure warnings, all a part of Nissan’s standard-issue Safety Shield 360 System. Step as much as the SR trim and you will get ProPilot that provides steering help. Nissan is eager to say that is additionally a primary for the Kicks.

How a lot will all this price? Nissan is not prepared to debate pricing however guarantees data will come earlier than the on-sale date later this summer season. For reference, the 2024 Kicks begins at $22,440, together with the vacation spot charge. With the hefty design adjustments and energy enhance, it is secure to imagine the 2025 Kicks will begin someplace within the mid-$20,000 vary.

Motorsport

Abandoned Cars Are Becoming a Big Problem in Oakland

Oakland, California, has an deserted automotive drawback. Over six months in 2023, individuals reported practically 14,000 deserted vehicles to town, and the state of affairs has worsened in 2024. The metropolis is working out of house to retailer the automobiles, resorting to stacking them on high of one another in some cases, and residents are fed up and annoyed with all of the vehicles.

The automobiles litter town’s streets, blocking entry to houses, companies, and even colleges whereas chewing up beneficial parking house. ABC 7 News Bay Area went on a ride-along with Oakland council member Noel Gallo, uncovering practically 50 deserted vehicles in about half-hour, all in numerous states of disrepair. Many had been stolen and stripped for elements, whereas others had been victims of smash-and-grab operations.

According to ABC 7’s report, the Oakland Police Department will solely reply if a car is obstructing entry to a house. The Oakland Department of Transportation handles all the opposite deserted automobiles, and it might probably take time to take away a automotive.

The metropolis has so many abandoned cars that it pays practically $1 million yearly in storage prices, with one lot containing for than 2,000 automobiles. However, reduction may quickly be coming as metropolis council members voted for elevated funding to resolve the difficulty, hiring a number of tow firms whereas using parking tons from the California Department of Transportation. The metropolis can be hiring 15 extra parking management technicians who will hit the streets this yr.

Motorsport

The Vision Neue Klasse X Shows BMW’s Dream Future Is Just More SUVs

BMW needs you to know that issues are altering. In fall of 2023, the corporate unveiled the Vision Neue Klasse concept car, an all-electric sedan that previews the design and engineering we are able to anticipate from a brand new era of BMW automobiles. Today, BMW debuts the Vision Neue Klasse X, the crossover member of the brand new EV household. Because whereas BMW insists it’s on the precipice of a paradigm shift, it’s not about to desert its widespread and worthwhile “sports activity vehicles.”

The “Neue Klasse” title is freighted with which means for BMW lovers. The firm first coined this moniker—which is solely German for “new class”—within the early Sixties, making use of it to a brand-new lineup of sporty, modernist sedans. The Neue Klasse spawned the legendary BMW 2002, and saved the corporate from the brink of extinction.

BMW Vision Neue Klasse X SUV Concept

Modern BMW is not existentially threatened the way in which it was within the early Sixties, however the firm faces a dramatically evolving international auto business. BMW has toyed with EVs and hybrids for years now, however the brand new Neue Klasse idea lineup factors to a full-scale re-envisioning of how a BMW appears to be like, works, and drives.

If the Vision Neue Klasse idea sedan is tomorrow’s 3 Series, the Vision Neue Klasse X seen right here might be understood as tomorrow’s X3.

“Together with the BMW Vision Neue Klasse, the BMW Vision Neue Klasse X showcases the breadth of our future BMW model lineup,” stated Oliver Zipse, Chairman of the Board of Management of BMW AG, in a press release. “In this way, we are underlining that the Neue Klasse is much more than just a car or a specific concept; it is redefining the BMW brand—and, at the same time, will be more BMW than ever.”

BMW Vision Neue Klasse X SUV Concept
BMW Vision Neue Klasse X SUV Concept

That means this high-riding crossover must carry out. BMW is bringing a brand new, EV-specific software program technique to the duty. In the standard internal-combustion car, every system—engine, transmission, stability administration, adaptive suspension—is managed by its personal ECU. Tweaking the car’s efficiency in real-time entails numerous communication between these discrete computer systems.

BMW says the Neue Klasse platform will do away with standard system-specific ECUs in favor of “super-brains”—”high-performance computers working smartly together on what, up until now, was processed separately,” stated Frank Weber, member of the Board of Management of BMW AG, in a press assertion. Each super-brain could have as much as 10 occasions the computing energy of a traditional ECU.

BMW Vision Neue Klasse X SUV Concept

This will permit one super-brain to manage all aspects of driving dynamics, from torque supply to traction administration to suspension conduct or drive-mode changes. Another super-brain will deal with all points of automated driving, from the sensor suite to GPS route navigation to steering and braking. BMW guarantees that this super-brain setup will enhance processing energy and pace, whereas simplifying the digital structure of the car and lowering the scale (and weight) of required {hardware}.

“The result will be more dynamic performance, more precision, more efficiency and even more fun to drive,” Weber stated in his assertion.

BMW says the Neue Klasse EVs will use an all-new sixth-generation model of the corporate’s eDrive propulsion expertise. New, spherical lithium-ion batteries promise 20 p.c extra vitality density than the present prismatic cells, and BMW says the Neue Klasse automobiles will use 800-volt structure for fast charging, enabling 186 miles of battery vary with a 10-minute plug-in. Power and efficiency figures weren’t given for the Vision Neue Klasse X.

The most putting side of the Vision Neue Klasse X is its design. Like the Vision Neue Klasse idea sedan, the X’s physique contours are refreshingly easy. The kidney grille, which was squashed and widened on the Neue Klasse sedan, stands tall right here, a signature that BMW says will distinguish its Sport Activity Vehicle fashions from its standard sedans within the all-electric future.

BMW Vision Neue Klasse X SUV Concept
BMW Vision Neue Klasse X SUV Concept
BMW Vision Neue Klasse X SUV Concept

The silhouette is acquainted as a BMW crossover, however the greenhouse is impressively ethereal, partially due to some difficult proportioning: The A- and B-pillars are tapered on their exterior edges, skinny and spindly from the surface however flaring out to standard thickness. Of course, the Vision Neue Klasse X has a Hofmeister kink—a Neue Klasse design signature—although right here it’s represented by a ghostly reflective appliqué on the rear quarter home windows.

Inside, the Vision Neue Klasse X embraces newfound minimalism, regardless of promising an entire new degree of perpetually-connected telecom integration. Rest in peace, iDrive: With the Neue Klasse, BMW needs you to manage the center-dash show by contact or by way of controls on the steering wheel.

A second full-width show on the base of the windshield exhibits pace, battery standing, and different data you’d usually discover on a driver’s instrument panel, which BMW says shall be augmented by a head-up show. Aside from a tiny assortment of bodily buttons on the middle console, the whole cockpit is basically button-free.

BMW Vision Neue Klasse X SUV Concept

As with final 12 months’s Neue Klasse idea sedan, the X options “Verdana” textile upholstery, which is claimed to be plant-and-mineral-based and fully petroleum free. The injection-molded inside elements are stated to be constituted of recycled maritime plastics. The coral shade of the corduroy-like upholstery, coupled with the large panorama roof and the beneficiant greenhouse, give the inside of the X an invitingly ethereal really feel.

In particular person, the Vision Neue Klasse X looks like a midway step between a flight-of-fancy idea automobile and a ready-for-production machine. The headlights and taillights really feel like show-car stuff, and a BMW consultant admitted that the manufacturing inside might want to have a couple of extra bodily controls than what’s on show right here. But the door handles and latches, the physique stampings, and the daylight openings all appear factory-ready—which they higher be, since BMW is promising that the primary Neue Klasse crossover will go into manufacturing in 2025.

Whether you consider this as a wholly new class of automobiles or not, one factor is for certain: The all-electric way forward for BMW shall be outlined by SUVs that, I’m betting, will look so much like what you see right here.

News

KTM Parent Company Says It’s Taking Over MV Agusta

Think again to October 2023. If you are the kind of individual to comply with KTM, MV Agusta, or the motorbike business generally, you may recall that is when KTM mum or dad firm Pierer Mobility publicly stated its strategic plan to deepen its cooperation with MV Agusta.

How did it plan to do that, precisely? At the time, Pierer stated it might do that with a name possibility on a majority stake in MV Agusta, to be exercised someday in spring 2026. 

It’s solely spring 2024, although, so why are we giving an replace? Because on March 15, 2024, Pierer Mobility formally introduced that it is performing an early takeover of a majority stake in MV Agusta. 

As with the plan that was beforehand introduced, it is nonetheless doing this by way of the decision possibility; that half hasn’t modified. What has modified is basically simply the timeline. It’s doing this by way of subsidiary firm KTM AG, which is able to now buy a further 25 p.c of MV Agusta shares, for a complete of fifty.1 p.c of shares within the Varese-based OEM. 

In addition to taking a majority stake in MV Agusta, KTM will even take over industrial management of MV Agusta. It plans to ramp up manufacturing quantity on the Varese manufacturing facility to over 10,000 bikes yearly, and previously announced plans to modernize the factory in order to facilitate just such a move back in July 2023.

MV Agusta Is Also Getting A New CEO

In addition to asserting the early takeover of MV Agusta, Pierer Mobility additionally concurrently introduced that Pierer Mobility AG executive board member Hubert Trunkenpolz will now turn out to be the brand new CEO and chairman of the board for MV Agusta. He will take over each positions from Timur Sardarov, who will “continue to be available to the company as Vice-Chairman, brand ambassador, and consultant.” 

What does Sardarov must say about all of this? He posted the next assertion on his official Instagram account following the Pierer announcement.

 

We’re concerned with seeing what the longer term now holds, as questions come up whether or not or not MV Agusta be a fourth model to share engines and platforms with KTM, Husqvarna, and GasGas, or will or not it’s one thing extra?

The principal factor that units MV Agusta aside within the minds of followers worldwide is all the time its distinctive method to design, with creations which can be like nobody else’s. 

That’s by no means meant as a backhanded praise to Kiska, which creates loads of cool stuff that has fans of its own. But it is exhausting to argue that MV Agusta very a lot has its personal design language and persona, so it will likely be fascinating (and maybe barely demanding, if I’m trustworthy) to see how that evolves transferring ahead.

Here’s hoping for the very best.

Motorsport

2025 Infiniti QX80: This Is It

We would not be shocked in the event you double-check our Infiniti QX Monograph concept post from August 2023. The automobile you see right here seems just about similar, from the vertically-oriented nook vents and lights flanking the massive grille, to the black roof, and even the flush door handles. There is one notable distinction, nonetheless. This is not an idea. It’s Infiniti’s new QX80 three-row SUV. And there’s a lot to debate.

The Anti-Wedge

We will not spend a lot time on the outside styling. This primarily is the Monograph idea in manufacturing type, stretching 17.5 toes nose-to-tail with its chunky physique mounted on an old-school body. In truth, Infiniti makes it a degree to speak in regards to the QX80’s very upright stature, calling it an “anti-wedge profile” with a hood that is almost flat because it extends ahead.

2025 Infiniti QX80
2025 Infiniti QX80
2025 Infiniti QX80

As with the Monograph idea, an illuminated Infiniti brand holds station within the double-arch grille. The tall greenhouse stands out with black trim and an out there black roof, whereas down low, electrically-powered flush door handles lengthen when the SUV is unlocked.

The cumbersome exterior interprets to extra room on the within. Infiniti does not have particular figures to share simply but, except for 161.1 cubic toes of complete passenger house. Compared to the outgoing mannequin, we’re advised there’s 18 p.c extra space behind the second-row seats and 54 p.c behind the third. A two-row model is not supplied.

We did not see the Monograph idea’s inside, however now we want we had. It’s a really good-looking leather-clad cockpit with the range-topping Autograph trim getting semi-aniline quilted seats complemented with wooden and aluminum trim. As you’d count on, instrumentation is a digital affair with two 14.3-inch show screens merged to create a large show occupying many of the sprint. A 3rd display screen measuring 9.0 inches sits on the entrance of the middle console, tilted as much as function the bottom of operations for the QX80’s local weather controls, heated/cooled seat capabilities, and drive modes.

2025 Infiniti QX80 Interior

The smaller display screen makes use of haptic suggestions when numerous capabilities are operated, giving the motive force a minimum of some tactile sensations when doing issues like turning up the warmth. Infiniti does not clarify the system additional or if the suggestions modifications relying on what you are touching. But this is not a wholly buttonless affair. The steering wheel gives some tactile controls, together with the means to change up the motive force show by means of a variety of appearances. And gear choice is achieved by means of a set of buttons on the middle console.

And the QX80 has no scarcity of issues to regulate. Of specific curiosity is an assortment of cameras that provide all types of views each exterior and inside, together with one thing known as Front Wide View. It takes digital camera info and creates a 170-degree ahead view that shows on each screens, giving the motive force the flexibility to see round parked automobiles in keeping with Infiniti. There’s additionally an Invisible Hood view that gives a glance immediately in entrance of the QX80, and we imply proper in entrance. It’s helpful for seeing obstacles close to the entrance tires, or how shut you’re to a parking curb.

A characteristic known as Enhanced RoundView is actually a tweaked exterior 360-degree digital camera that aids with parking and tight conditions. In-car cameras present front-seat passengers what’s taking place within the again, and it is also accessible by means of a smartphone so you possibly can take a peek anytime. And as a result of we dwell in a linked society that may’t perform with out social media, Infiniti has one thing known as Journey Diary. This will seize pictures or movies from forward-facing or in-car cameras and add them to your social channels, for higher or worse.

2025 Infiniti QX80 Interior

The tech prepare does not cease with cameras. The QX80 actually retains passengers cool with Biometric Cooling—infrared sensors situated within the headliner detect when somebody is sizzling and robotically adjusts particular person local weather settings. Heated and cooled seats additionally assistance on that entrance, and within the new QX80, you will discover heated seats manner again within the third row. Massaging seats can be found for second-row passengers, and everybody can profit from a 24-speaker, 1,200-watt Klipsch audio system. It’s optionally available on all however the range-topping Autograph trim, however the usual system remains to be a 14-speaker rig with 600 watts.

Infiniti InContact with Google Built-In runs the present. Wireless Apple CarPlay or Android Auto are commonplace, as are a bunch of Infiniti driver help and security techniques that include ProPilot 1.1 Upgrade to ProPilot 2.1 and you will get hands-free driving in sure conditions. There’s an optionally available heads-up show for the primary time, too.

More Power, More Gears, More Money

There’s lots to maintain passengers occupied, however what in regards to the driver? Gone is the previous 5.6-liter V-8 engine, changed with a twin-turbocharged 3.5-liter V-6 making 450 horsepower and 516 pound-feet of torque. That’s a notable enhance over the V-8, and it sends energy to both the rear wheels or all 4 by means of a 9-speed computerized transmission. Infiniti says the body-on-frame development has 57 p.c extra lateral stiffness versus the previous mannequin, and when outfitted with the air experience suspension, the QX80 lowers itself 1.2 inches at increased pace for higher effectivity. When parked, it will possibly drop 2.8 inches to assist of us get out and in.

2025 Infiniti QX80

Making the many of the QX80’s energy bump are 5 drive modes: Standard, Eco, Sport, Snow, and Tow. If none of these fit your tastes, a sixth mode for customized settings is included. Speaking of customization, you possibly can tweak the inside lighting with 64 colours that shine by means of LED lights within the doorways and sprint. Nine exterior colours can be found at launch, and you may select wheels as much as 22 inches in dimension. Should you have to tow, the QX80 is rated for 8,500 kilos.

At launch, the 2025 Infiniti QX80 is accessible in 4 trims: Pure, Luxe, Sensory, and Autograph. Here’s a value breakdown per trim, together with a compulsory $1,995 vacation spot price.

Model Price
2025 Infiniti QX80 Pure RWD $84,445
2025 Infiniti QX80 Pure 4WD $87,545
2025 Infiniti QX80 Luxe RWD $91,545
2025 Infiniti QX80 Luxe 4WD $94,645
2025 Infiniti QX80 Sensory 4WD $102,640
2025 Infiniti QX80 Autograph 4WD $112,590

The new QX80 is actually costlier than the outgoing mannequin—considerably extra in range-topping Autograph guise. By comparability, the BMW X7 slots neatly into the Infiniti’s value vary. However, the Lexus LX600 nonetheless instructions a bit extra general with costs reaching past $130,000.

Will consumers shell out extra cash than ever for this new Infiniti flagship? We will discover out later this summer time when the 2025 QX80 goes on sale.

Energy

Solar Panel Credits 2024: How Much Can You Save And How To See If You Qualify

The federal photo voltaic tax credit score for 2023 is 30% of the price of the photo voltaic photovoltaic system put in in your property. You can declare this quantity if you file your taxes in 2024. So, for example, if the price of the tools and the set up got here as much as $25,000, your federal tax legal responsibility may go down by 30%, i.e., $7,500, because of this credit score. These appreciable financial savings can go a great distance in serving to you break even in your funding a lot earlier.

Although the federal photo voltaic tax credit score can solely be claimed as soon as, you’ll be able to roll over the steadiness of the credit score to the next 12 months if what you owe the IRS is lower than the credit score quantity. In the instance above, in case your total tax legal responsibility was solely $5,000, you could possibly roll over the remaining $2,500 to say in the course of the subsequent tax 12 months. If you are eligible to say the credit score, fill out IRS Form 5695 and embody it as a part of your tax return.

The 30% tax credit score worth will solely apply till 2032. The Inflation Reduction Act, signed in 2022, outlines the federal photo voltaic tax credit score schedule till 2034. While the credit score was elevated from 26% to 30% for photo voltaic panel installations made between 2022 and 2032, it can lower to 26% in 2033. For the next 12 months, 2034, the credit score will lower once more to 22%.

BMW

Excellent prospects for BMW Group in Upper Palatinate – Plant Regensburg investing and persevering with to rent

+++ Very excessive capability utilisation, with annual manufacturing of 238,301 autos in 2023 – Higher manufacturing figures anticipated for 2024

+++ Global market launch of recent BMW X2 in early March

+++ 600 new hires in 2024

+++ Further € 200 million funding to safe long-term way forward for Regensburg and Wackersdorf

Regensburg. Prospects are trying good for the BMW Group in Upper Palatinate: Plant Director Armin Ebner is extraordinarily optimistic for 2024. “Since we added a night shift in autumn of last year, our daily production has already increased by about 300 vehicles, to 1,300 currently. Our total annual production for 2023 was 238,301 vehicles.” This implies that, final 12 months, practically one in ten BMWs produced worldwide got here from Regensburg.

“This confirms the strong customer appeal of the compact class models built in Regensburg, the BMW X1 and the BMW X2,” underlines Ebner. The second technology of the BMW X2 went into manufacturing in Regensburg in November. The international market launch of the car manufactured solely at BMW Group Plant Regensburg occurred on 2 March. Its essential markets might be China, the US and Europe.

Production of new BMW iX2 at the BMW Group Plant in Regensburg – car assembly (10/2023)

Ebner anticipates an additional enhance within the variety of autos produced in Regensburg in 2024. To be extra exact, the plant will be capable to manufacture properly over 300,000 models per 12 months, if justified by market demand. Production of electrical fashions, particularly, is predicted to extend considerably: In 2024, a minimum of one in three BMWs leaving the BMW Group’s Bavarian car vegetation must be an electrical automotive – and the identical applies to Regensburg.

“With the BMW iX1 and BMW iX2, we will continue to inspire customers around the world with fully-electric driving pleasure from Regensburg,” says Ebner. Europe is a very essential gross sales marketplace for the fully-electric BMW iX2. In its home market of Germany, as an example, the BMW iX1 was Germany’s ninth hottest electrical automotive, with 14,694 new car registrations in 2023, in line with the Federal Motor Transport Authority (KBA).

High-voltage batteries for the electrical vehicles in-built Regensburg are produced on the Leibnizstraße web site, in direct proximity to the car plant. “Our location in Leibnizstraße provides valuable support for the transformation. The fact that we produced more than 100,000 high-voltage batteries here last year is evidence of the successful ramp-up of electromobility in Regensburg,” explains Ebner. To meet variations in buyer demand throughout all areas of the world, Regensburg may even proceed to construct autos with an inside combustion engine as a part of the combination on the identical meeting line.

Commissioning of battery testing centre in Wackersdorf from mid-2024 

The Wackersdorf location can also be set to grow to be a significant facilitator for electromobility: “The first deliverables from our new battery testing centre will enter into regular operation in Wackersdorf from mid-2024 onwards,” says Ebner. The new testing centre, masking an space of greater than 8,000 sq. metres, might be built-in into the positioning’s present constructing constructions. Here, high-voltage batteries and different electrical powertrain parts for future BMW Group fashions might be put by means of their paces in a really early section of improvement – properly earlier than the beginning of manufacturing.

A building with history: Once intended as reprocessing facility, “hall 80” now symbolizes Wackersdorf site’s electric future. (09/2023)

600 new hires deliberate by finish of 2024

This excessive stage of manufacturing can also be mirrored within the improvement of worker numbers. “We already hired more than 500 new staff in 2023. For 2024, we are planning on recruiting another 600 for our production,” explains Ebner. The web site is trying to rent staff in areas with abilities shortages, equivalent to upkeep and electronics. “But we will also be offsetting natural attrition caused by people leaving the plant due to age,” Ebner continued. BMW Group Plant Regensburg will recruit 120 new apprentices in the summertime as properly. “This will include training eight apprentices for our planned new site in Straßkirchen here in Regensburg.” The BMW Group’s core employees at its Regensburg and Wackersdorf places in japanese Bavaria at present totals round 9,250 staff.

Production of new BMW iX2 at the BMW Group Plant in Regensburg – car assembly (10/2023)

€ 200 million funding in securing long-term future – gearing up for manufacturing of NEUE KLASSE from second half of the last decade

By the top of 2024, a complete of round € 200 million might be channelled into the Regensburg and Wackersdorf places. Ebner: “The prospects for both sites look very good. This renewed investment will help us secure the long-term future of both facilities. At the same time, it is also an investment in Upper Palatinate as a location for industry.”

At the identical time as constructing the present fashions, the car plant in Regensburg can also be making ready for manufacturing of the following mannequin technology, which can ramp up within the second half of the last decade. “With the NEUE KLASSE, the company aims to set new standards for digitalisation, electrification and circularity – and we are already gearing up for this in Regensburg. During the production break over the New Year, we completed the first major modifications, including for our vehicle assembly. Further extensive structural measures will be implemented at the turn of the year 2024/2025,” explains Ebner.

Armin Ebner, head of BMW Group plant Regensburg (10/2023)

Extensive useful resource conservation initiatives
BMW Group Plants Regensburg and Wackersdorf are additionally investing in useful resource conservation. Initiatives vary from transport logistics to biodiversity, and from water administration to new, resource-efficient manufacturing strategies. “For example, at the start of the year, we converted one of our paint shop’s two base coat lines entirely to dry separation using limestone powder. The second line – due to production reasons – will be switched in August 2025.”

This technique will save the BMW Group plant websites in Regensburg and Dingolfing a complete of 17 million litres of water and round 17,400 megawatt hours of vitality per 12 months. “Converting the painting process moves us another step closer to the BMW Group’s aim of reducing CO2 emissions throughout the entire vehicle lifecycle by 40 percent by 2030,” emphasises Ebner.

BMW Group Plant Regensburg additionally invested in water-efficient practices in 2023. Refurbishing its re-cooling techniques has diminished the plant’s complete water consumption by a fifth, saving round 53 million litres of water per 12 months.

BMW Group plant Regensburg, paint shop (12/2023)

Digitalisation in step with ideas of BMW iFACTORY

As it implements the BMW iFACTORY, the BMW Group can also be targeted on digitalising the Regensburg plant web site to create a digital and clever linked manufacturing unit. “We are following a holistic approach that brings together people, processes and systems. Digitalisation optimises processes and helps our employees do their jobs – because people will continue to be the backbone of our production,” says Ebner.

For instance, BMW Group Plant Regensburg is the automotive trade’s first plant worldwide to make use of an end-to-end digitalised and automatic course of for inspection, processing and marking of painted car surfaces in commonplace manufacturing that depends on robots managed by AI (synthetic intelligence).

BMW Group plant Regensburg, car assembly: Smart maintenance using artificial intelligence – Predictive maintenance (11/2023)

“My aim is for us to be a pioneer, shaping change together with our outstanding plant team, so we can defend our leading global position – and so mobility ‘made in Upper Palatinate’ can continue to inspire people all over the world in the future,” sums up Ebner.

BMW Group Corporate Communications
 Saskia Graser, head of Communications Regensburg and Wackersdorf
Cell cellphone: +49 151 6060 2014, Email: Saskia.Graser@bmw.de

Media web site: www.press.bmwgroup.com

Email: presse@bmw.de

BMW Group Plants Regensburg and Wackersdorf

The BMW Group has considered itself for many years because the benchmark for manufacturing know-how and operational excellence in car building – together with at its places in Regensburg and Wackersdorf. 
The BMW Group car plant in Regensburg has been in operation since 1986 and is certainly one of greater than 30 BMW Group manufacturing places worldwide. A complete of as much as 1,300 autos of the BMW X1 and BMW X2 fashions come off the manufacturing line at Plant Regensburg each workday – destined for purchasers everywhere in the world. Different kinds of drive trains are flexibly manufactured on a single manufacturing line – from autos with inside combustion engines to plug-in hybrids, to fully-electric fashions.

High-voltage batteries for the electrical fashions in-built Regensburg are additionally produced domestically, in direct proximity to the car plant. They are assembled on the electrical part manufacturing facility, which opened in 2021 on the Leibnizstrasse location.
BMW Innovation Park Wackersdorf additionally belongs to the Regensburg web site. The 55-hectare campus constructed within the Nineteen Eighties was initially supposed as a nuclear reprocessing facility. The BMW Group has positioned its cockpit manufacturing there, in addition to its components provide for abroad vegetation. In addition to BMW as the most important employer, a number of different corporations are additionally based mostly at Innovation Park Wackersdorf. A complete of round 2,500 staff work there.

The BMW Group core employees on the Regensburg and Wackersdorf places in japanese Bavaria is made up of round 9,250 staff, together with greater than 300 apprentices.

www.bmwgroup-werke.com/regensburg/de.html

BMW

BMW Group continues on worthwhile progress course

Munich. The BMW Group achieved its enterprise targets for monetary yr 2023, as forecasted. Despite sturdy competitors and risky situations, the corporate efficiently maintained its worthwhile progress and defended its main place within the international premium phase: A complete of 2,554,183 premium autos weredelivered to clients within the yr to the tip of December (2022: 2,399,632 models / +6.4%) ‒ together with 717,620 models within the fourth quarter (This fall 2022: 651,794 models / +10.1%). Deliveries for the complete yr had a strong improve, leading to a market share of three.3%.

High demand for its merchandise was the motive force for the BMW Group’s persevering with sturdy monetary efficiency: The Group EBT margin got here in at 11.0% (2022: 16.5%; This fall: 8.6%; 2022: 8.2%), above the strategic goal of 10%. The EBIT margin within the Automotive Segment of 9.8% (2022: 8.6%; This fall: 8.5%; This fall 2022: 8.5%) was inside the forecast goal vary of 9.0-10.5%. 

Throughout 2023, the corporate’s recent and enticing vary of fully-electric autos was a key progress driver. The BMW Group delivered a complete of 375,716 fully-electric automobiles (2022: 215.752 models / +74,1%) to clients, attaining a share of round 15% of whole gross sales, as deliberate. Including the PHEVs delivered, the BMW Group bought a complete of 565,875 electrified autos (2022:433,792 models / +30.5%) and thus achieved a gross sales share of twenty-two%.

The electrification of the automobile portfolio contributes considerably to CO2 emissions discount within the Group and likewise to the continued discount of CO2 fleet emissions. In the European fleet, the BMW Group continued to cut back emissions in 2023: At 102.1 grams per kilometre of CO 2 (in response to WLTP; 2022: 105 g/km / -2.8%), the preliminary determine was considerably beneath the goal set by the European Union of 128.5 grams per kilometre.

“The year 2023 underlined how we are implementing our strategy consistently and successfully. We posted strong growth and substantially increased our percentage of fully-electric vehicles, while improving our operational profitability. A lot of people talk about ‘transformation’. For us, it’s more a question of continuous progress,” mentioned Oliver Zipse, Chairman of the Board of Management of BMW AG, on Thursday. “We are advancing forward with our course – offering our customers the newest innovations and the latest technology, regardless of the vehicle’s powertrain. In this way, we aim to continue to deliver strong products for strong demand.”

Solid improve in Group revenues
Group revenues reported a strong improve within the full yr and climbed to € 155,498 million (2022: € 142,610 million / +9.0% / adjusted for foreign money translation results: +13.1%). 

In the interval from January to December 2023, the revenues of BMW Brilliance Automotive Ltd. (BBA) have been absolutely included; within the prior yr, this was solely the case from 11 February 2022 onwards, following full consolidation. This must be factored into the year-on-year comparability.

In addition to full consolidation, revenues have been primarily pushed by greater gross sales volumes and constructive product combine results. Higher rates of interest and tailwinds from mortgage financing additionally contributed to the expansion in revenues – which have been impacted by foreign money headwinds from the Chinese renminbi and the US greenback. 

R&D bills attain new excessive

Group analysis and growth prices for the complete yr rose considerably to € 7,538 million (2022: € 6,624 million / +13.8%). In addition to growth bills for brand new fashions, like the brand new BMW 5 Series, the X3 and X5 (mannequin replace), Rolls-Royce Spectre* and future fashions for the NEUE KLASSE, R&D spending was primarily targeted on additional electrification and digitalisation of the automobile portfolio and on automated driving.

The R&D ratio (in response to the German Commercial Code) for the complete yr was 5.0% (2022: 5.0%) and due to this fact on the excessive finish of the corporate’s long-term goal vary of 4.0-5.0%.

The BMW Group’s capital expenditure elevated within the full yr to € 8,836 million (2022: € 7,791 million / +8.5%). Substantial funding was channelled into the electrification and autonomous driving modules, in addition to organising high-voltage battery manufacturing in numerous markets and plant development in Debrecen, Hungary.

The capex ratio for the 12-month interval got here in at 5.7% (2022: 5.5%).

“We are making major investments in innovative technologies and electrification and digitalisation of our products and plants. We are investing in the future of the BMW Group and generate a strong free cashflow. Our strong financial performance paves the way for this. Our profitability today lays the foundation for our success in the future. Thanks to our highly efficient premium vehicles with leading technology, we aim to maintain our profitable growth in the future,” mentioned Walter Mertl, member of the Board of Management chargeable for Finance.

Group earnings (EBIT) considerably greater

The firm’s full-year earnings earlier than monetary end result (EBIT) mirrored the BMW Group’s sturdy working efficiency: In 2023, EBIT climbed to € 18,482 million(2022: € 13,999 million / +32.0%). In addition to the complete consolidation of BBA and better automobile deliveries, decrease intersegment eliminations associated to the leasing enterprise additionally had a constructive impact.

Between January and December, the BMW Group reported pre-tax earnings (EBT) of € 17,096 million (2022: € 23,509 million / -27.3%). Here, the destructive honest worth pushed monetary end result of € -1,386 million (2022: € 9,510 million) displays a corresponding base impact: In the prior yr, the revaluation of BBA fairness pursuits of € 7.7 billion, as a part of the complete consolidation, had considerably elevated the BMW Group’s monetary end result, Group earnings and Group web revenue.

The EBT margin for January to December got here in at 11.0% (2022: 16.5%).

Group web revenue for the 12-month interval amounted to € 12,165 million (2022: € 18,582 million / -34.5%). Without the one-time revaluation impact, Group web revenue would have been greater year-on-year, with an EBT margin on par with the earlier yr.

Significant improve in Automotive EBIT in YTD December

In the Automotive Segment,full integration of the working enterprise of BMW Brilliance Automotive Ltd. (BBA), greater gross sales volumes and constructive product combine results boosted revenues for the 12-month interval by 7.0% to € 132,277 million (2022: € 123,602 million / adjusted for foreign money translation results: +11.3%), as did greater revenues from aftersales enterprise. Negative foreign money translation results, primarily from the Chinese renminbi and the US greenback, impacted income progress: Excluding these headwinds, revenues noticed a major improve of 11.3% for the complete yr.

Depreciation and amortisation from the acquisition worth allocation in reference to the complete consolidation of about € 1.4 billion impacted the phase’s price of gross sales for the complete yr in addition to a slight improve in gross sales and administrative prices.

The Automotive Segment’s earnings earlier than monetary end result (EBIT) for the complete yr have been additionally considerably greater, at € 12,981 million (2022: € 10,635 million / +22.1%). A constructive impact got here from the full-year inclusion of the BBA end result and from the web impact of quantity, combine and pricing, pushed by the upper gross sales quantity and the upper share of high finish in addition to BMW M autos. However, headwinds resulted from greater analysis and growth spending and elevated manufacturing prices towards 2022 in addition to the upper share of electrified autos. The EBIT margin for this era was 9.8% (2022: 8.6%; +1.2 %-pts.). Excluding depreciation and amortisation for BBA belongings from the acquisition worth allocation of € 1.4 billion beforehand referred to, the EBIT margin was 10.8%.

Thanks to this constructive earnings growth, the phase’s free money circulate amounted to € 6,942 million on the finish of December (2022: € 11,071 million / -37.3%). The earlier yr included the constructive one-time impact of round € 5 billion from the complete consolidation of BMW Brilliance.

 

BMW AG share buyback programme continued

Based on the authorisation issued on the Annual General Meeting in May 2022, the Board of Management made the choice to purchase again shares price as much as € 2.0 billion. During the preliminary share repurchase programme between July 2022 and June 2023, BMW AG repurchased a complete of twenty-two,199,529 shares of frequent inventory for
€ 1,850 million and 1,923,871 shares of most popular inventory for € 150 million. This is equal to three.78% of the present share capital. In accordance with the Board of Management resolution, all shares acquired have been retired within the third quarter of 2023.

The second share buyback programme, price as much as € 2.0 billion, obtained underway in July 2023. By the tip of 2023, BMW AG had acquired 4,218,363 shares of frequent inventory and 942,892 shares of most popular inventory. A complete buy worth (excluding incidental acquisition prices) of round € 500 million was paid for the shares repurchased on this first tranche. This corresponds to 0.81% of the present share capital.

The second share buyback programme continued in January 2024 with the second tranche. As of 12 March 2024, the BMW Group had purchased again 7,531,194 shares with a complete worth of € 734 million and thus holds 1.18% of the present share capital.

The second share buyback programme will probably be concluded no later than 31 December 2025.

Dividend of € 6.00 proposed

Shareholders will even take part within the success of economic yr 2023. Subject to the approval of the Annual General Meeting, thecompany’s unappropriated revenue (in response to the German Commercial Code) of € 3,802 million (2022: € 5,481 million / -30.6%), representing a preliminary payout ratio of 33.7% (2022: 30.6%), will probably be distributed to shareholders from BMW AG’s web revenue.

Taking into consideration the goal vary of 30-40% of web revenue for the payout ratio attributable to the shareholders of BMW AG, the Board of Management and Supervisory Board will suggest a dividend of € 6.00 per share of frequent inventory (2022: € 8.50) and € 6.02  per share of most popular inventory (2022: € 8.52) to the Annual General Meeting on 15 May. BMW Group workers will as soon as once more take part within the firm’s success in an applicable method.

 

Stable earnings efficiency in Financial Services Segment

In the troublesome aggressive panorama of economic yr 2023, BMW Group Financial Services reported slight progress in its quantity of recent enterprise with retail clients, which elevated to € 57,333 million (2022: € 55,449 million / +3.4%). Due to the improved product combine, the common financing quantity per automobile rose. The variety of new contracts concluded with retail clients reached the earlier yr’s degree of 1,542,514 (2022: 1,545,490 contracts / -0.2%). At the tip of the yr, the penetration fee – the share of recent BMW Group autos leased or financed by the Financial Services Segment – stood at 38.2% (2022: 41.0% / –2.8 %-pts.).

In the 12-month interval, the phase reported pre-tax earnings of € 2,962 million (2022: € 3,205 million / -7.6%). This decline in earnings primarily resulted from greater refinancing prices and the smaller whole portfolio of 4,952,318 retail contracts (31 Dec. 2022: 5,210,246 contracts / -5.0%).

BMW Group Financial Services benefited from persevering with excessive earnings from the resale of end-of-lease autos – though this was much less constructive year-on-year and due to this fact had a dampening impact on earnings. Prices for used automobiles are more likely to proceed this pattern in 2024.

Lower credit score threat provisioning in comparison with the earlier yr had a constructive impact. In 2022, credit score threat provisioning had been closely influenced by geopolitical uncertainties and weaker macroeconomic prospects.
The credit score loss ratio for 2023 remained on the low fee of 0.18%.

“The Financial Services segment supports our sales growth with its financing activities and makes a major contribution to earnings. We will be integrating our financial services business even more closely into our sales processes and our ‘customer journey’ going forward. Digitalisation of our processes will play a key role in this. In all areas of the company, digitalisation and AI will contribute to greater efficiency, speed and value creation,” in response to CFO Mertl. “Also in view of the upcoming demographic change, these two topics are essential for the BMW Group.” 

At 17.2%, return on fairness within the Financial Services Segment for monetary yr 2023 (2022: 17.9% / -0.7%-pts.) was according to the adjusted steering of 16-19%.

Motorcycles Segment steps up deliveries once more in centenary yr

BMW Motorrad celebrated its centenary in 2023 with two restricted version fashions known as “100 years”, three new fashions and 4 mannequin updates. In its anniversary yr, the phase additionally achieved a brand new all-time excessive, with a complete of 209,066 bikes and scooters delivered to clients (2022: 202,895 models). This represents a slight improve of three.0% and confirms expectations for the monetary yr.

In the 12-month interval, BMW Motorrad revenues rose barely to € 3,214 million (2022: € 3,176 million / +1.2%; adjusted for foreign money translation results: +3.2%). The phase EBIT for January to December was € 259 million (2022: € 257 million / +0.8%) and due to this fact on a par with the earlier yr. The EBIT margin stood at 8.1% (2022: 8.1%).

 

BMW Group steers profitable course in closing quarter of the yr

The BMW Group achieved dynamic progress in deliveries and a robust monetary efficiency within the fourth quarter of 2023. It delivered 717,620 premium autos to clients (This fall 2022: 651,794 models / +10.1%), together with 128,849 fully-electric autos (This fall 2022: 87,557 models / +47.1%).

Group revenues noticed a strong improve within the fourth quarter to achieve € 42,968 million (2022: € 39,522 million / +8.7%). Group analysis and growth prices have been greater within the closing quarter of the yr, at € 2,080 million (This fall 2022: € 1,739 million / +19.7%). The R&D ratio (in response to the German Commercial Code) was secure at 5.9% (This fall 2022: 5.8% / +0.1 %-pts.). The BMW Group’s capital expenditure totalled € 3,758 million (2022: € 3,111 million / +20.8%).

Group earnings earlier than monetary end result (EBIT) of € 4,412 million (2022: € 3,500 million / +26.1%) have been considerably greater year-on-year. Group earnings earlier than tax (EBT) rose considerably within the fourth quarter to € 3,682 million (2022: € 3,253 million / + 13.2%). The EBT margin for this era was 8.6% (2022: 8.2%).

Group web revenue for the fourth quarter totalled € 2,614 million (2022: € 2,175 million / +20.2%).

Automotive Segment revenues posted strong fourth-quarter progress to achieve € 37,283 million (2022: € 34,571 million / +7.8%; adjusted for foreign money translation results: +12.2%).

Earnings earlier than monetary end result (EBIT) confirmed strong progress within the fourth quarter to € 3,171 million (2022: € 2,932 million / +8.2%). The EBIT margin of 8.5% (2022: 8.5%) remained secure from the earlier yr, underlining the sturdy working efficiency of the Automotive Segment within the closing quarter of the yr which confirmed the seasonally excessive price burden.

Solid earnings growth within the Automotive Segment resulted in a free money circulate of € 1,183 million within the fourth quarter (2022: € 1,195 million / -1.0%).

In the Financial Services Segment, the penetration fee climbed to 39.5% within the fourth quarter and has due to this fact maintained its progress trajectory (2022: 37.1% / +2.4 proportion factors). The phase’s fourth-quarter pre-tax earnings (EBT) totalled € 511 million (2022: € 533 million / -4.1%). This slight lower was as a consequence of greater refinancing prices and a smaller whole portfolio.

Employee numbers greater year-on-year

The BMW Group had 154,950 workers on the finish of 2023 (2022: 149,475 / +3.7%). This slight improve in worker numbers was primarily in growth and IT, in addition to within the BMW Group’s international manufacturing community.

Proposed re-election of supervisory board members

With the Annual General Meeting on May 15, 2024, the present mandate of Supervisory Board members Dr. h.c. Susanne Klatten, Stefan Quandt and Dr. Vishal Sikka will come to an finish. The Supervisory Board will suggest re-electing Dr. h.c. Susanne Klatten, Stefan Quandt and Dr. Vishal Sikka for one more four-year mandate.

* * *

You will obtain additional info on the Group Financial Statements 2023 and the outlook for the present monetary yr on the BMW Group Annual Conference on 21 March 2024. You can observe the digital occasion from 9:00 am (CET) dwell within the web at: https://www.live.bmwgroup.com/en/live-streaming/, adopted by the dwell streaming of the Annual Conference Q+A with media from 10:30-11:30 am.
The dwell streaming of the Investor relations Q+A with analysts will probably be streamed from 12:30-01:45 pm at: https://www.bmwgroup.com/en/investor-relations/annual-conferences.html.

The BMW Group Report 2023 will probably be revealed on 21 March at 7.30 a.m. (CET) at https://www.bmwgroup.com/en/investor-relations/company-reports.html.

The BMW Group – an summary: 
Full yr 2023

2023

2022

Change in %

Deliveries to clients

 

 

 

 

Automotive1

models

2,554,183

2,399,632

6.4

BMW

models

2,252,793

2,100,689

7.2

MINI

models

295,358

292,922

0.8

Rolls-Royce

models

6,032

6,021

0.2

Motorcycles

models

209,066

202,895

3.0

 

 

 

Employees (as of 31 Dec. 2023)

154,950

149,475

3.7

EBIT margin Automotive Segment

p.c

9.8%

8.6%

14.1

EBIT margin Motorcycles Segment

p.c

8.1%

8.1%

-0.4

EBT margin BMW Group2

p.c

11.0%

16.5%

-33.3

 

 

 

Revenues

€ million

155,498

142,610

9.0

Automotive

€ million

132,277

123,602

7.0

Motorcycles

€ million

3,214

3,176

1.2

Financial Services

€ million

36,227

35,122

3.1

Other Entities

€ million

11

8

37.5

Eliminations

€ million

-16,231

-19,298

-15.9

 

 

 

Profit earlier than monetary end result (EBIT)

€ million

18,482

13,999

32.0

Automotive

€ million

12,981

10,635

22.1

Motorcycles

€ million

259

257

0.8

Financial Services

€ million

3,055

3,163

-3.4

Other Entities

€ million

-13

-203

-93.6

Eliminations

€ million

2,200

147

–

 

 

 

Profit earlier than tax (EBT)

€ million

17,096

23,509

-27.3

Automotive

€ million

12,642

18,918

-33.2

Motorcycles

€ million

258

269

-4.1

Financial Services

€ million

2,962

3,205

-7.6

Other Entities

€ million

-100

995

–

Eliminations

€ million

1,334

122

–

 

 

 

Group earnings taxes

€ million

-4,931

-4,927

0.1

Net revenue

€ million

12,165

18,582

-34.5

Earnings per share of frequent inventory

€

17.67

27.31

-35.3

Earnings per share of most popular inventory3

€

17.69

27.33

-35.3

1 Deliveries embody the three way partnership BMW Brilliance Automotive Ltd., Shenyang.

2 Ratio of Group earnings earlier than taxes to Group revenues.

3 Common/most popular shares. Earnings per share of most popular inventory are calculated by distributing the earnings required to cowl the extra dividend of € 0.02 per most popular share proportionally over the quarters of the corresponding monetary yr.

The BMW Group – an summary: This fall 2023

This fall 2023

This fall 2022

Change in %

Deliveries to clients

 

 

 

 

Automotive1

models

717,620

651,794

10.1

BMW

models

631,526

566,823

11.4

MINI

models

84,616

83,651

1.2

Rolls-Royce

models

1,477

1,320

11.9

Motorcycles

models

44,349

43,562

1.8

 

 

 

Employees (as of 31 Dec. 2023)

154,950

149,475

3.7

EBIT margin Automotive Segment

p.c

8.5%

8.5%

0.3

EBIT margin Motorcycles Segment

p.c

-7.6%

-9.4%

-19.0

EBT margin BMW Group2

p.c

8.6%

8.2%

4.1

 

 

 

Revenues

€ million

42,968

39,522

8.7

Automotive

€ million

37,283

34,571

7.8

Motorcycles

€ million

643

691

-6.9

Financial Services

€ million

9,504

9,086

4.6

Other Entities

€ million

2

2

0.0

Eliminations

€ million

-4,464

-4,828

-7.5

 

 

 

Profit earlier than monetary end result (EBIT)

€ million

4,412

3,500

26.1

Automotive

€ million

3,171

2,932

8.2

Motorcycles

€ million

-49

-65

-24.6

Financial Services

€ million

606

536

13.1

Other Entities

€ million

0

-16

-100.0

Eliminations

€ million

684

113

–

 

 

 

Profit earlier than tax (EBT)

€ million

3,682

3,253

13.2

Automotive

€ million

3,031

3,009

0.7

Motorcycles

€ million

-53

-57

-7.0

Financial Services

€ million

511

533

-4.1

Other Entities

€ million

-212

-263

-19.4

Eliminations

€ million

405

31

–

 

 

 

Group earnings taxes

€ million

-1,068

-1,078

-0.9

Net revenue

€ million

2,614

2,175

20.2

Earnings per share of frequent inventory

€

3.77

3.43

9.9

Earnings per share of most popular inventory3

€

3.78

3.44

9.9

1 Deliveries embody the three way partnership BMW Brilliance Automotive Ltd., Shenyang

2 Ratio of Group earnings earlier than taxes to Group revenues.

3 Common/most popular shares. Earnings per share of most popular inventory are calculated by distributing the earnings required to cowl the extra dividend of € 0.02 per most popular share proportionally over the quarters of the corresponding monetary yr.

GLOSSARY – explanatory feedback on key efficiency indicators

 

Deliveries to clients
A brand new or used automobile is recorded as a supply as soon as it’s handed over to the tip consumer (which additionally consists of leaseholders beneath lease contracts with BMW Financial Services). In the US and Canada, finish customers additionally embody (1) sellers after they designate a automobile as a service loaner or demonstrator automobile and (2) sellers and different third events after they buy an organization automobile at public sale and sellers after they buy firm autos straight from the BMW Group. Deliveries could also be made by BMW AG, certainly one of its worldwide subsidiaries, a BMW Group retail outlet, or unbiased third-party sellers. The overwhelming majority of deliveries – and therefore the reporting of deliveries to the BMW Group – is made by unbiased third-party sellers. Retail automobile deliveries throughout a given reporting interval don’t correlate on to the revenues that the BMW Group recognises in respect of that exact reporting interval.

EBIT

Profit earlier than monetary end result. Profit earlier than monetary end result includes revenues much less price of gross sales, much less promoting and administrative bills and plus/minus web different working earnings and bills.

EBIT margin

Profit/loss earlier than monetary end result as a proportion of revenues.

EBT

EBIT plus monetary end result.

Payout ratio

The payout ratio is preliminary. Although the Management Board and Supervisory Board are proposing a set dividend per share to the overall assembly, the variety of dividend-entitled shares is predicted to fall even additional on account of the continued share buy-back program between now and the Annual General Meeting. Accordingly, the overall quantity paid out to shareholders till May 15 presumably will even change.

PHEV

Plug-in-hybrid electrical automobile.

If you’ve gotten any questions, please contact:

BMW Group Corporate Communications

 

Dr Britta Ullrich, Finance Communications

Telephone: +49 89 382-18364

Email: britta.ullrich@bmwgroup.com

Eckhard Wannieck, head of Communications BMW Group, Finance, Sales

Telephone: +49 89 382-24544

Email: eckhard.wannieck@bmwgroup.com

Media web site: www.press.bmwgroup.com/deutschland

Email: presse@bmwgroup.com