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Volkswagen

Brand Group Core will increase working revenue in Q1 2024 regardless of difficult market surroundings

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The Brand Group Core delivered sturdy monetary ends in the primary quarter of 2024. With steady car gross sales and barely decrease gross sales income, the Brand Group Core reported a big year-on-year enhance in working revenue and working return. At 6.4%, working return was nicely throughout the goal hall of 6-7% for 2024. All manufacturers contributed to this achievement, reporting greater returns on the idea of centered price administration in addition to elevated implementation of synergy and effectivity measures throughout the Brand Group. The monetary efficiency within the first quarter felt the influence of offsetting results – these included, for instance, the abrupt termination of presidency incentives for electrical vehicles within the German market and the associated low cost measures firstly of the 12 months. Furthermore, there was excessive depreciation attributable to investments in product campaigns and the associated ramp-up of electrical merchandise.
The Brand Group Core was, nonetheless, capable of counteract these results within the first quarter of 2024 with a balanced product combine. The slight dip in demand for all-electric autos (BEV) was offset by greater deliveries of ICE fashions. Overall, steady Q1 unit gross sales figures at Brand Group stage mirror these results.

Brand Group Core increases operating profit in Q1 2024 despite challenging market environment

Significant enhance in Brand Group revenue and return on the again of strong car gross sales and gross sales income.

Key monetary efficiency indicators affirm the energy and resilience developed by the Brand Group Core: with unit gross sales of 1,191,926, the Brand Group’s car gross sales virtually matched the excessive prior-year stage (Q1 2023: 1,192,974 autos). Even although gross sales income got here in at 32.8 billion euros – thus barely decrease than the very robust gross sales stage of the earlier 12 months (Q1 2023: 33.2 billion euros) – working revenue earlier than particular objects grew 21% to 2.1 billion euros (Q1 2023: 1.7 billion euros).

The working return (earlier than particular objects) improved by 1.2 proportion factors to six.4%. Cash outflows within the first quarter had been primarily attributable to preparations for brand new mannequin ramp-ups.

The Brand Group Core delivered 1,543,500 autos to prospects within the first quarter of the 12 months, 6.2% greater than the identical prior-year quarter (Q1 2023: 1,453,500 autos). All-electric fashions accounted for an necessary share of deliveries: essentially the most profitable all-electric fashions from the Group delivered worldwide within the first quarter of 2024 had been the ID.4, ID.3, Škoda Enyaq and ID. Buzz. Škoda delivered 12.3% extra all-electric autos in Q1 2024 in contrast with the identical prior-year quarter. At Volkswagen Commercial Vehicles, the rise was as excessive as 29.4%.

Key figures for the Brand Group Core:

Key financials

Q1 2024

Q1 2023

Change 24/23

Unit gross sales (in 1000’s)
(incl. different autos from different manufacturers)

1,192

1,193

0%

Sales income

32.77 billion euros

33.16 billion euros

-1%

Operating revenue earlier than particular objects

2.11 billion euros

1.74 billion euros

+21%

Operating return earlier than particular objects

6.43%

5.25%

+1.2%-points

The Volkswagen Passenger Cars, Škoda, SEAT/CUPRA and Volkswagen Commercial Vehicles manufacturers every contributed to the sturdy Brand Group Core Q1 outcomes for fiscal 2024.

Unit gross sales on the Volkswagen Passenger Cars model within the first quarter of fiscal 2024 ran at 694,617, 5% down on car gross sales for a similar prior-year quarter (Q1 2023: 730,797 autos). Given the commonly difficult market surroundings, a really robust efficiency within the first quarter of the earlier 12 months and mannequin adjustments in key quantity drivers (Golf, Tiguan, Passat), gross sales income firstly of the 12 months got here in at 19.3 billion euros, 6% decrease than the prior-year determine (Q1 2023: 20.5 billion euros). At the identical time, nonetheless, the working revenue earlier than particular objects improved by 26.8% to 770 million euros, confirming the Volkswagen model’s steady place total in a risky market. At 4.0%, the working return (earlier than particular objects) was noticeably greater than the prior-year determine of three.0%, pushed by a constructive regional combine and worth results that in flip had been counteracted by pay will increase.

Patrick A. Mayer, Member of the Board of Management of the Volkswagen Brand answerable for “Finance”, commented: “The solid results for the first quarter of 2024 show that our cost optimization measures are having an effect and the brand is successfully strengthening its resilience. Implementation of the Volkswagen brand’s comprehensive performance program continues to gather momentum and will make us even more effective and faster in this challenging year of 2024.”

Škoda Auto delivered 220,500 autos worldwide within the first quarter of 2024, a rise of 5.2% in contrast with the earlier 12 months. The order consumption stays promising. Sales income got here in at 6.6 billion euros, barely down on the determine for Q1 2023 (6.8 billion euros). This is partly attributable to greater materials prices. The working revenue earlier than particular objects ran at 535 million euros and the working return (earlier than particular objects) was 8.1%, barely above the extent for a similar prior-year quarter
(Q1 2023: 8.0%). With deliveries operating at 61,200 (+36%), the Octavia remained the model’s best-selling mannequin.

SEAT/CUPRA reported a constructive begin to enterprise 2024. First-quarter car gross sales by the model ran at 164,300 models, a rise of 6.2% in contrast with the primary quarter of the earlier 12 months. SEAT/CUPRA generated gross sales income of three.8 billion euros, a rise of 6.8% on the determine for Q1 2023. The working revenue earlier than particular objects developed significantly nicely, rising 57% to 226 million euros. The working return (earlier than particular objects) improved to five.9%, similar to an increase of 1.9 proportion factors on the determine for Q1 2023. These constructive figures mirror the profitable market penetration of SEAT/CUPRA and the rising recognition of SEAT/CUPRA fashions.

Business improvement on the Volkswagen Commercial Vehicles model within the first quarter of 2024 was constructive. Vehicle gross sales of 121,906 models represented 17% progress in contrast with similar quarter in 2023. There was corresponding 16% progress in gross sales income to 4.2 billion euros. Particularly noteworthy is the rise in working revenue earlier than particular objects, which greater than doubled to 400 million euros (+ 134%). The working return (earlier than particular objects) got here in at 9.6%, a rise of 4.8 proportion factors.

Outlook
 The subdued financial prospects, rising competitors and political challenges will proceed to form the present fiscal 12 months. Against this backdrop the Brand Group Core because the “core of the Volkswagen Group” has outlined its key priorities: to spice up its monetary energy and innovativeness in addition to enhance its resilience. 2024 can be a 12 months of complete mannequin change. The Volkswagen model started the present 12 months with the market launch of the three most necessary quantity fashions: Tiguan, Golf und Passat. The Brand Group Core will additional strengthen its market place by debuting additional enticing new fashions such because the all-electric Volkswagen ID.7 Tourer, the long-wheelbase ID. Buzz and the CUPRA Tavascan. The Brand Group Core’s working return in Q1/24 was throughout the full-year goal hall of 6-7%. With a transparent give attention to additional decreasing complexity, shortening improvement cycles and systematically tapping into synergy potentials, the Brand Group Core is on monitor to satisfy its goal of an working return of 8% by 2026.

BMW

Statement and Presentation Walter Mertl, Member of the Board of Management of BMW AG, Finance, BMW Group Annual Conference 2024

Ladies and Gentlemen,

Good morning!

2023 was one other profitable 12 months for the BMW Group. We delivered sturdy ends in the present enterprise, whereas securing our future viability by means of focused investments.

Strong demand for our enticing merchandise, higher availability of autos and an easing of the availability state of affairs led to a constructive quantity improvement. After the midway mark within the 12 months, we accordingly raised our steerage for each deliveries and EBIT margin within the Automotive Segment.

Thanks to our disciplined administration of the enterprise, we delivered but once more on all our targets. I’ll now take you thru our outcomes. 

SLIDE 3: BMW Group with Strong Performance and Solid Sales improve

For the complete 12 months, we delivered 2.55 million autos worldwide, which is 6.4% over 2022. We achieved vital development with our all-electric autos. Deliveries reached greater than 375,000 models, or roughly 15% of whole gross sales.

At 9.8%, the EBIT margin within the Automotive Segment was nicely inside the elevated hall of 9.0 to 10.5%. Excluding depreciation and amortisation for BBA belongings from the acquisition worth allocation of 1.4 billion euros, the EBIT margin was 10.8%.

The Group EBT margin of 11% exceeded our strategic goal of 10%.

We additionally continued to cut back CO2 emissions in our European fleet. With 102.1 grams per kilometer, we had been 26.4 grams – in different phrases 20.5% – beneath the goal set by the European Union.

SLIDE 4: BMW Group full-year 2023

At Group stage, our revenues reached 155.5 billion euros, which is 9% larger than 2022. Adjusted for forex translation results, revenues elevated by 13.1%. The improve was pushed by the upper supply volumes and constructive product combine results.

In 2023, our earnings earlier than tax at Group stage amounted to 17.1 billion euros. It is necessary to notice that Group earnings in 2022 of 23.5 billion euros included a one-off revenue of seven.7 billion euros. This was as a consequence of a technical accounting impact associated to BBA full consolidation, particularly the revaluation of our current fairness pursuits. Without this impact, Group earnings in 2023 had been 1.3 billion euros or 8% above 2022.

This additionally interprets by means of to earnings per share, that had been at 15.7 euros in 2022, excluding the one-off revenue from BBA. In 2023, earnings per share of 17.7 euros had been 12.8% above the earlier 12 months.

That brings me to the outcomes of the person segments.

I’ll begin with the Automotive Segment.

SLIDE 5: Automotive Retail Units, BEV Units, Auto 

Revenue and Auto EBIT

The BMW Group delivered 2.55 million autos to clients worldwide in 2023. This corresponds to strong development of 6.4% – according to our elevated steerage. Momentum got here specifically from fashions within the higher worth section, such because the BMW 7 Series, X7, and Ix*, in addition to from the all-new BMW X1.

Our all-electric autos proceed to be a key development driver.

In 2023, BEVs made up virtually 15% of our whole gross sales.

We additionally delivered over 190,000 plug-in hybrid autos. In whole, electrified autos due to this fact accounted for over 22% of gross sales through the 12 months. 

Revenues for the Automotive section totaled 132.3 billion euros. This quantities to a 7% improve year-on-year.

At virtually 13 billion euros, the section’s working consequence was over 20% larger than 2022. This resulted in an EBIT margin of 9.8%. This is each on the larger finish of our long-term strategic goal hall of 8-10%, and nicely inside the elevated goal hall of 9.0-10.5% for the 12 months 2023.

SLIDE 6: Automotive Segment EBIT full-year 2023

Looking on the working lead to element, the rise in Automotive EBIT benefited from a web impact of quantity, mannequin combine and pricing, yielding a tailwind of two.4 billion euros. This was primarily pushed by the upper quantity and better share of high finish autos, together with BMW M fashions, which compensated for the upper BEV share. As anticipated, we noticed some worth normalization within the new automotive and used automotive markets by means of the top of the 12 months.

Compared to 2022, we see that EBIT in 2023 was impacted by 600 million euros from the online stability of forex and uncooked materials positions. This distinction is principally as a consequence of forex results from the event of the Chinese renminbi and US greenback. Given decrease uncooked materials costs by means of the top of the 12 months, we noticed a slight tailwind in comparison with 2022. However, this was overcompensated by headwinds from elevated provider funds.

SLIDE 7: R&D Expenditure in full-year 2023

As deliberate, analysis and improvement expenditure rose considerably to 7.8 billion euros, virtually 600 million euros larger than the earlier 12 months. The R&D ratio for the 12 months got here in at 5.0%. Due to larger revenues, this is similar stage as 2022, though general spending elevated year-on-year.

Expenditure for R&D primarily targeted on three areas: the electrification and digitalization of the fleet; automated driving capabilities; and expenditure for brand new fashions.

Due to larger bills, largely for IT tasks, promoting & administrative bills elevated by about 400 million euros.

The place “Other cost changes” displays, amongst others, larger materials prices, as talked about at Q3, in addition to decrease residual worth income than the earlier 12 months. In 2022, a detrimental one-off affect of 1.8 billion euros was as a consequence of results associated to the first-time consolidation of BBA.

SLIDES 8 & 9: Automotive Segment Free Cash Flow full-year 2023

Moving on to the free cashflow outcomes for 2023.

At year-end, free money move within the Automotive Segment reached 6.9 billion euros. It must be famous that free cashflow within the earlier 12 months included a constructive impact of over 5 billion euros in web money acquired from BBA. Without this impact, our free money move in 2023 was virtually 900 million euros larger year-on-year, or a rise of 13%.

The change in working capital of two.7 billion euros primarily displays the rise in inventories to keep up inventory ranges in markets worldwide.  This ensured we now have enough provide, together with for brand new fashions, to fulfill the sturdy world market demand getting into the brand new 12 months.

SLIDE 10: Capital Expenditure full-year 2023

Capital expenditure for the 12 months totaled 8.8 billion euros. Our investments in 2023 primarily targeted on the fifth and sixth technology battery cell expertise, digitalization of merchandise and processes, and automobile tasks. In addition, we invested in building of our crops, for instance in Debrecen, Hungary, the place we are going to launch the NEUE KLASSE subsequent 12 months.

The capex ratio for the 12 months was 5.7%.

Changes in provisions had a constructive affect on free cashflow of 1.5 billion euros.

The place “other items” displays primarily tax funds.

SLIDE 11: Financial Services Segment full-year 2023

That brings me to our Financial Services section, a key enabler for our enterprise.

Financial Services is already an integral a part of the client journey, and can develop into much more necessary with the rollout of our direct company gross sales mannequin.

In 2023, the variety of new financing and leasing contracts concluded with retail clients got here in on the similar stage because the earlier 12 months with 1.5 million new contracts. This is a really strong consequence, contemplating the enterprise atmosphere with elevated rates of interest and a extremely aggressive panorama.

Business developed positively quarter for quarter. While new contracts with finish clients had been down 20% in Q1 year-on-year, in This fall contracts had been up by 17%.

The share of latest BMW Group autos both leased or financed

by the Financial Services section stood at 38.2% in 2023.

Average financing quantity per automobile elevated, as a consequence of an improved product combine within the automotive enterprise. Overall, new enterprise quantity elevated by 3.4% to 57.3 billion euros.

Segment earnings earlier than tax amounted to 2.96 billion euros. The lower displays primarily two components: larger refinancing prices as a consequence of rising rates of interest, in addition to the general declining contract portfolio.

Revenues from the resale of end-of-lease autos remained at a excessive stage, however had been decrease than earlier 12 months as used automotive costs began to normalize. We count on this pattern to proceed in 2024, resulting in a decrease consequence from off-lease autos.

At 0.18%, the credit score loss ratio remained at low stage.

After growing the goal vary for the 12 months to between 16 and 19 % in August, Return on Equity reached 17.2% for the full-year.

SLIDE 12: Motorcycles Segment full-year 2023

That brings me to the Motorcycles section.

In its a hundredth anniversary 12 months, the BMW Motorrad model achieved file deliveries, with over 209,000 models. An spectacular accomplishment!

All main gross sales areas noticed development in 2023, with explicit momentum coming from Europe with 4.7% and China with 2.8%.

The EBIT margin for the section reached 8.1%.

At 259 million euros, the section’s working consequence was on the similar stage as 2022.

SLIDE 13: Other Entities Segment / Eliminations full-year 2023

Finally, you see the mixed consequence from the Other Entities Segment and intersegment eliminations.

“Other Entities” recorded a loss in earnings earlier than tax of 100 million euros. The lower in comparison with 2022 was primarily pushed by detrimental honest worth measurement results on rate of interest hedging transactions.

Consolidations elevated in earnings earlier than tax to 1.3 billion euros. Lower eliminations related to the leasing enterprise had a constructive impact in comparison with the earlier 12 months.

SLIDE 14: Dividend and Increased Pay-out Ratio

Ladies and Gentlemen,

At the BMW Group, we stay targeted on making certain that our shareholders profit from the corporate’s success.

The Board of Management and the Supervisory Board will due to this fact suggest a dividend of 6.00 euros per share of frequent inventory and 6.02 euros per share of most well-liked inventory to the Annual General Meeting. This ends in a complete dividend payout of roughly 3.8 billion euros. The larger dividend payout and earnings per share in 2022 mirrored appreciable one-off results from the consolidation of BBA in our Group revenue. Adjusted for the one-off impact, the dividend in addition to earnings per share are larger in 2023.

The proposed dividend for 2023 represents a pay-out ratio of 33.7%. This is inside our long-term strategic goal vary of 30-40% and likewise notably larger than the payout ratio in 2022.

At the top of June 2023, we efficiently concluded the primary program of our share buyback at 2 billion euros, which was accepted on the Annual General Meeting in May 2022. On July third final 12 months, we launched the second program of as much as 2 billion euros, with the primary tranche concluding on December thirty first. In whole, 1.2 billion euros in share buyback had been accomplished in 2023. The second tranche, with a quantity of 500 million euros, began on January 2nd, and can be carried out by June 28, 2024, on the newest. The second share buyback program can be accomplished by December 31, 2025 on the newest.

Taking the proposed dividend and final 12 months’s share buyback collectively, the whole payout of 5 billion euros represents 92% of Auto free cashflow out there to BMW AG shareholders.

This underscores the monetary power and sturdy cashflow generated by our operations, which helps optimum shareholder return.

Moving on from 2023, what are we anticipating in 2024?

In the Automotive section, we count on slight development in volumes, pushed by our younger and enticing product portfolio. Specifically, we should always see vital development of our BEV share in addition to a double-digit development within the higher section.

We anticipate a rise in materials prices and provider funds. However, this must be offset by a web tailwind from FX and commodities. The web affect of quantity, combine and worth must be barely constructive, and we are going to take our disciplined method ahead into 2024. At similar time, decrease income from off-lease autos will weigh on Auto EBIT.

SLIDE 15: CapEx and R&D Ratios 2024

In 2024, we are going to hit our capex and R&D peak, as deliberate and communicated.

The continued implementation of our electrification and digitalization technique will result in higher analysis and improvement prices. Expenditure associated to the NEUE KLASSE, such because the additional improvement of the sixth-generation battery expertise and preparations within the manufacturing community, will even affect the Group’s earnings and ends in higher capital expenditure.

For the present monetary 12 months, we due to this fact count on a capex ratio above 6% and an R&D ratio above 5%. After 2024, each ratios will steadily return to our strategic corridors, which stay unchanged. For Capex: which means lower than 5%. And for the R&D ratio: between 4 and 5 %.

Despite the numerous funding in future applied sciences, we are going to generate above 6 billion euros in Automotive free cashflow in 2024.

Financial companies will profit from the upper auto gross sales and stabilization of the rate of interest atmosphere. However, a decline in used-car values will negatively affect the consequence. And, given the upper lease penetration fee, we are going to see a decrease eliminations consequence.

SLIDE 16: Outlook 2024

What will we count on for our key efficiency indicators in 2024?

In the Automotive Segment, deliveries of BMW, MINI and Rolls-Royce model autos are anticipated to rise barely year-on-year. The section’s EBIT margin ought to fall inside our strategic goal hall of 8 to 10 %. The share of all-electric autos relative to whole deliveries is anticipated to extend considerably in comparison with 2023.

In the Motorcycles Segment, deliveries are anticipated to extend barely, with an EBIT margin inside our goal vary of 8 to 10 %.

Return on Equity within the Financial Services section is forecast to land between 14% and 17%.

As anticipated, provide and demand proceed to normalize for brand new and used vehicles. It is due to this fact anticipated that revenues from remarketing lease returns can be decrease than 2023.

For the Group’s pre-tax revenue, we count on a slight lower. This is due primarily to the excessive stage of bills for analysis and improvement and capital expenditure, as outlined earlier than. The lower within the monetary companies enterprise will even contribute to the slight lower in Group revenue earlier than tax.

The Group’s headcount is forecast to extend barely.

Ladies and Gentlemen,

At the BMW Group, our sturdy manufacturers and enticing merchandise have lengthy fashioned the muse for our success – and can proceed to take action sooner or later. We allocate our capital in investments effectively, according to our long-term technique. At the identical time, we stay targeted on price self-discipline and profitability.

Our strategic perspective offers us readability on our constant path going ahead, whereas our operational excellence secures our future aggressive benefit and the general well being of the enterprise. Our excessive flexibility permits us to fulfill market demand and constantly ship on targets. And in 2023, it underpinned our worthwhile development. The improve in our BEV gross sales to virtually 15% put us in a robust place to overachieve the CO2 targets. We additionally recorded development within the higher section, leading to a balanced and worthwhile combine.

As you realize, our trade is understood for its excessive complexity, for lengthy life-cycles, and for powerful regulatory necessities, that are ever-increasing. That is why our planning horizon all the time spans a number of years. As the Vision NEUE KLASSE X proves, our technique ensures that we anticipate traits within the trade to stay forward.

We are absolutely dedicated to ship on our long-term strategic goal of an 8-10% EBIT margin yearly.

And we ship what we promise. We have the best product line-up and the flexibleness to fulfill buyer wants throughout the globe. And our product providing is rising.

We will due to this fact proceed with our worthwhile development and likewise fulfill our targets, assuming market situations stay secure. As everybody has seen within the BEV market in China, this isn’t all the time a given. At the BMW Group, we are going to keep our balanced steering of a number of particular person goals to attain all of our strategic priorities.

Our sturdy efficiency at this time is paving our highway to tomorrow’s continued success. We stay assured concerning the 2024 monetary 12 months and past.

And now it’s time to listen to from Oliver once more: he’ll present you what we now have within the pipeline throughout all manufacturers to drive our success within the coming years.

Volkswagen

Brand Group Core improves end result and return in 2023 – nearer cooperation between the amount manufacturers is gaining traction

The Brand Group Core delivered strong monetary ends in 2023. Higher quantity and value results, improved availability of elements and decrease mounted prices had a constructive impact, whereas larger product prices and the deconsolidation of Volkswagen Group Rus had a damaging affect on the end result. The world market and aggressive atmosphere stays difficult. The Brand Group Core is engaged on additional stabilizing its efficiency with a view to enhancing its resilience in opposition to exterior components, specifically given the slower growth of the e-mobility market in Europe.

The systematic growth of cooperation within the agreed cross-brand core motion areas is having a sustained constructive impact on key monetary efficiency indicators: Brand Group Core working revenue earlier than particular objects in 2023 grew 80% year-on-year to 7.3 billion euros (2022: 4.1 billion euros). The essential driver right here was a 19% enhance in unit gross sales to 4.826 million autos (2022: 4.069 million autos). Net money move elevated from 1.1 billion euros in 2022 to five.6 billion euros. This growth was mainly attributable to the one-off discount of inventories that largely corrected the stock build-up because of the scarcity of logistics assets within the earlier 12 months. The working return earlier than particular objects improved by 1.7 share factors to five.3% (2022: 3.6%), gross sales income climbed 21% to 138 billion euros (2022: 114 billion euros).

Brand Group Core improves result and return in 2023 – closer cooperation between the volume brands is gaining traction

Focus on rigorous price self-discipline and profitability within the Brand Group Core.

Thomas Schäfer, Member of the Board of Management of Volkswagen AG, Head of the Brand Group Core & CEO of the Volkswagen Passenger Cars Brand, stated: “The closer cooperation in the Brand Group Core is gaining traction. Our work is beginning to pay off. Our networking has become stronger and more systematic. We now have several projects where cooperation extends beyond former brand boundaries. We have the right team spirit. As the volume brands’ CEO team, we have pushed hard to drive this transformation forward in recent months. Our common goal: to fully exploit our performance potential as a brand group by sharing knowledge and working together to find the best solutions. With our strong, clearly differentiated models we ideally cover important market segments without cannibalizing business for our sister brands. And our networking will become ever closer in order to leverage our enormous combined potential even more effectively in future under difficult economic conditions and within a rapidly changing automotive industry. That is good for each brand, for the Group and for our customers.”

Key figures for the Brand Group Core:

Key financials

2023

2022

Change 23/22

Unit gross sales
(incl. different manufacturers’ autos)

4,826,276 autos

4,069,342 autos

+19%

Sales income

137.770 billion euros

113.762 billion euros

+21%

Operating revenue earlier than particular objects

7.273 billion euros

4.045 billion euros

+80%

Operating return earlier than particular objects

5.3%

3.6%

+1.7%-points

Net money move

5.625 billion euros

1.131 billion euros

All the person manufacturers Volkswagen, Škoda, SEAT/CUPRA and Volkswagen Commercial Vehicles contributed to the constructive total efficiency of the Brand Group Core – and thus additionally the Volkswagen Group – within the 2023 fiscal 12 months.

Unit gross sales on the Volkswagen model grew by 13% to 2,519 million autos (2022: 2,236 million autos) within the 2023 fiscal 12 months. The model’s gross sales income climbed to 86,4 billion euros (2022: 73,8 billion euros). The essential drivers right here have been the license enterprise with China and a powerful efficiency in after-sales enterprise. The working revenue earlier than particular objects of three.5 billion euros (2022: 2.6 billion euros) additionally mirrors the brand new give attention to effectivity and profitability. At 4.1%, the working return earlier than particular objects was 0.5 share factors above the determine for the earlier 12 months (2022: 3.6%). The improved working end in 2023 exhibits that the model is strengthening its resilience and enhancing its competitiveness. Given the growing depth of competitors worldwide and the related monumental stress on costs and prices, the efficiency program agreed final December will contribute to stabilizing the return on gross sales trajectory from 2024. The Volkswagen model is thus laying the groundwork to strengthen resilience in a persistently difficult market atmosphere.

Patrik A. Mayer, Member of the Board of Management of the Volkswagen Brand liable for “Finance”, commented: “The solid results for the 2023 fiscal year show we are becoming more financially robust. Volkswagen is the Group’s core brand and we must live up to our responsibility – with good products, and also with good figures. Systematically implementing our Accelerate Forward performance program will make us significantly more effective and faster by 2026: not only in our factories and in development, but also in administration and sales. We therefore believe we are well prepared for a demanding year in 2024 with its muted economic outlook.”

Škoda Auto additionally reported a profitable 2023 fiscal 12 months. Global unit gross sales by Škoda Auto final 12 months ran at 866,800 autos (+18,5%), with the all-electric Enyaq recording the very best progress (81,700 autos bought; +52%). The all-electric mannequin was one of many best-selling electrical autos in lots of European markets. The Škoda Auto Group reported report gross sales income of 26.5 billion euros in 2023 (2022: 21,0 billion euros; +26,2 %). The model’s working revenue earlier than particular objects got here in at 1.8 billion euros, 183% larger than the prior-year degree (2022: 0.63 billion euros).

At 6.7%, the working return earlier than particular objects was effectively above the extent of the earlier 12 months (2022: 3.0 %). These sturdy outcomes underpin the corporate’s strong enterprise mannequin for making the mandatory investments within the ongoing transformation to e-mobility.

SEAT/CUPRA placed on a convincing efficiency final 12 months with a marked 28% rise in unit gross sales to 602,000 autos (2022: 468,000 autos). The model reported 31% progress in gross sales income to 14,3 billion euros (2022: 10,9 billion euros). Operating revenue earlier than particular objects ran at 625 million euros, effectively up on the earlier 12 months’s determine of 33 million euros. The group-wide enhance in profitability is clearly seen: the working return earlier than particular objects rose to 4.4% (2022: 0.3%). This is mainly attributable to the success of CUPRA with larger unit gross sales and constructive results from effectivity enhancements.

Business growth on the Volkswagen Commercial Vehicles (VWN) model was additionally constructive: unit gross sales elevated by some 25% to 423,000 autos (2022: 340,000 autos) and gross sales income grew 34% to fifteen billion euros (2022: 11 billion euros). Furthermore, there was a 65% rise in working revenue earlier than particular objects to 873 million euros (2022: 529 million euros). Progress with driving profitability was confirmed by a rise within the working return earlier than particular objects to five.7%, in comparison with 4.6% within the earlier 12 months. This report efficiency is attributable to the model’s strong positioning. Vehicles for personal and industrial clients, the enduring ID.Buzz and the distinctive California fashions fulfill particular person buyer needs. This efficiency was achieved by the systematic implementation of the effectivity program at VWN and the related price self-discipline.

Outlook
The Brand Group Core plans to extend its end in 2024, bolstered by the associated results from the amount manufacturers’ ongoing efficiency packages.
Overall, the Brand Group Core continues to focus on an working return of 8% in 2026. Improved cooperation among the many sister manufacturers is predicted to leverage synergy and scale results and contribute to attaining this goal. This contains optimizing product prices, decreasing overheads below the assorted efficiency packages in place on the particular person manufacturers, and thereby safeguarding sustainable progress. In addition, the Brand Group Core plans additional quantity progress on account of the improved provide state of affairs for vital uncooked supplies and elements. Further progress in key areas (e.g. North America) in addition to the event of latest markets (e.g. Škoda Auto / Vietnam) are anticipated to have a constructive impact on return. The present fiscal 12 months will likely be formed by sturdy competitors, political challenges and the mandatory investments for the longer term. Clear-cut tasks and a task-sharing strategy kind the premise for the sturdy cooperation that can proceed to drive the success of the Brand Group and your complete Volkswagen Group in future.


Organizational observe:
Škoda Annual Press ConferenceFriday, March 15, 10:00 a.m.
VWN Annual Press ConferenceThursday, March 21, 09:00 a.m.
SEAT/CUPRA Annual Press Conference Thursday, March 21, 11:00 a.m.

Replay

Annual Media Call 2024

Fiscal Year 2023 of the Volkswagen Brand

Fiscal Year 2023 of the Volkswagen Brand

Charts Thomas Schäfer

Annual Media Call 2024

Charts Patrik Mayer

Annual Media Call 2024

More details about the Brand Group Core

Brand Group Core

The model group CORE is the organizational merger of the Volkswagen Group’s quantity manufacturers. With greater than half of the Group’s automobile gross sales and over 200,000 workers from 5 manufacturers, the cross-border model group CORE is the reply to lots of the challenges we’re at present dealing with.

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Motorsport

The New Rivian R2 Gets A Kitchen And A Rooftop Tent

Rivian delivered an sudden one-two punch yesterday on the unveiling of the R2 the place it took everybody unexpectedly with the even smaller R3. However, the primary order of enterprise is to kick off deliveries of its long-awaited Tesla Model Y rival, however that will not occur till the primary half of 2026. When it does finally hit the streets, the R2 will likely be suitable with a collection of nifty equipment.

Much like the larger R1T pickup and R1S SUV, the newest entry in Rivian’s rising lineup caters to outdoorsy folks with a bunch of non-compulsory goodies. For instance, the Travel Kitchen bundles a water tank, a cooler, an induction cooktop with extra storage and even a cookware set. Rivian will throw in some hanging lights for while you’re cooking at evening in the course of nowhere.


Motorsport

The New Skoda Octavia RS Wagon Is All The Car You’ll Ever Need

With 191,900 models delivered final yr, the Octavia solidified its spot because the best-selling Skoda. Now it is getting a nip and tuck for 2024 that brings styling revisions, an even bigger show, and a streamlined engine lineup. The Czech model additionally debuted the flagship RS mannequin, full with the extra sensible wagon physique fashion and a bit of additional oomph.

A extra spacious different to the recently updated Volkswagen Golf, the Octavia will get new matrix LED headlights that look a bit melted. They have an adaptive glare-free excessive beam and shall be an elective characteristic on the lesser trim ranges however customary on the RS. The latter has misplaced the separate decrease lights that Skoda had been mounting contained in the bumper for the reason that second-generation Octavia RS facelift launched in 2009.


Motorsport

The USPS Ordered Six Vans From EV Startup Canoo For “Exploratory” Reasons

Canoo nonetheless hasn’t delivered a single automotive to shoppers, but the upstart EV firm is inking offers left and proper with authorities companies. First, they teamed up with NASA for shuttle transport automobiles, then the Oklahoma state authorities – even the US Army evaluated Canoo’s capabilities. Now the United States Postal Service (USPS) is pinging Canoo for a pint-sized fleet of mail supply vans.

The USPS positioned an order for six right-hand-drive variations of the Lifestyle Delivery Vehicle 190 – an prolonged variant of its electrical van with an enclosed rear cargo maintain. Yes, simply six automobiles.

The USPS ought to have the ability to get round 200 miles of vary with the Canoo LDV 190, which has a 79.0-kilowatt-hour battery pack with DC quick charging capabilities, and 200 horsepower on the bottom model (or as much as 350 hp on sure specs). The cargo maintain can carry as much as 172.0 cubic toes and haul as much as 1,624 kilos of mail. Converting the Canoos to right-hand drive was a comparatively easy course of, notes Canoo CEO Tony Aquila.

Canoo Lifestyle Delivery Vehicle 190
Canoo Lifestyle Delivery Vehicle 190

“The multi-purpose platform with steer-by-wire technology and a unique low-profile suspension system allows for a readily configurable right-hand drive system,” says Aquila.

The electrical vans play a small position within the Postal Service’s bigger $40 billion funding towards upgrading and enhancing its fleet. In 2022, the federal government introduced Oshkosh Defense would construct a brand new fleet of mail vehicles for the USPS, however after delays surrounding powertrain points, these upgraded mail vehicles have been put on hold till later this yr.

The six Canoo vans shall be delivered to the USPS early this yr, and by the tip of 2024, we might see these USPS EVs and Oshkosh mail vehicles on the street concurrently.

In an announcement from the USPS to Motor1, the group mentioned that’s persevering with to “explore commercial-off-the-shelf electric delivery vehicles that have the potential to meet the unique requirements of our delivery mission.” So if it likes the Canoo’s efficiency, we might be seeing an entire lot extra Government-owned startup electrical vans sooner or later. 

BMW

BMW Motorrad crowns its one centesimal anniversary with the strongest gross sales end result within the firm’s historical past.

Munich. In its anniversary 12 months, BMW Motorrad delivered 209,257 bikes and scooters to prospects, 3.1% greater than within the earlier 12 months and the very best gross sales quantity within the firm’s historical past. The areas of Europe, Asia and Latin America specifically made a major contribution to BMW Motorrad’s report gross sales quantity with report gross sales figures. Germany and North America additionally contributed to the report end result with robust gross sales. The convincing product portfolio with profitable choices that characterise their respective segments and the market launch of common new fashions such because the 
high-powered BMW M 1000 R or the touring enduro icon BMW R 1300 GS had been robust arguments for the profitable efficiency in 2023.

Markus Flasch, Head of BMW Motorrad: “I would like to thank our customers all over the world for the great trust they have placed in us again in 2023. With a record result in our anniversary year, BMW Motorrad remains the world’s number one in the premium motorcycle and scooter segment and once again demonstrates the brand’s successful strategic orientation. Our market leadership in numerous segments is based on innovation leadership, our highly attractive product range and our strong brand. Based on these three main success factors, BMW Motorrad is ideally positioned and I am very confident about the year 2024.”

Solid gross sales in Europe with report development in Eastern Europe.
With 116,012 (+ 4.7 %) bikes and scooters bought, Europe as a complete remained by far the strongest gross sales area for BMW Motorrad. Germany remained the strongest particular person market with 24,176 items (+ 0.2 %), adopted by France (21,668 items / + 2.1 %), Italy (16,179 items / + 3.3 %) and Spain (12,716 items / + 1.7 %). Eastern Europe additionally contributed to BMW Motorrad’s very pleasing total European efficiency with gross sales of 6,000 items, a report improve of 105.4 % and greater than double the earlier 12 months’s determine.

China, India, Brazil and Mexico made a major contribution to this success.
In different areas, a number of international locations ended the 12 months with report gross sales. In Asia (47,061 items / + 1.6 %), each China (15,832 items / + 2.8 %) and India (8,768 items / + 20.4 %) achieved their greatest outcomes thus far. Brazil, with report gross sales of 14,106 automobiles (+ 8.1 %), and Mexico (7,088 items / + 6.8 %) additionally made a major contribution to BMW Motorrad’s report end result.

The R 1250 GS and GS Adventure, together with the extremely profitable new R 1300 GS, prepared the ground.
The boxer fashions R 1250 GS and R 1250 GS Adventure additionally delivered their customary robust efficiency, with gross sales of round 56,000 items. Together with the brand new R 1300 GS (4,528 items), which has been on sale since autumn 2023, the three GS fashions as soon as once more made a major contribution to BMW Motorrad’s report gross sales of 60,535 items (+1.62%).

Sporty four-cylinder fashions with undiminished dynamism.
The fascination with efficiency and driving dynamics additionally resulted in a constructive gross sales pattern for the sporty four-cylinder fashions from BMW Motorrad. With 11,442 items bought
(+ 13.9%), the S 1000 RR underlined its prime place and market management within the supersport bike section, whereas the M 1000 R hyper roadster exceeded all expectations with 3,655 items delivered to prospects. Together with the S 1000 R, the S 1000 XR and the unique M 1000 RR, 25,194 items (+ 7.5 %) of the high-performance four-cylinder fashions had been delivered to prospects worldwide.

BMW Motorrad additionally achieved prime efficiency within the mid-range section and within the BMW Motorrad section of as much as 500 cc.
With a complete of 62,834 items bought (+ 3.2 %), the F collection with two-cylinder engines and the G fashions with single-cylinder engines additionally made a major contribution to
BMW Motorrad’s report end result. The F 750 GS, which is especially common with new prospects, was a specific spotlight, with 11,064 items bought (+ 15.6 %).

Clear market management for the CE 04 and robust efficiency of BMW Motorrad’s Urban Mobility vary.
With a share of round 70 % within the world marketplace for all-electric bikes and scooters with an output of greater than 11 kW, the CE 04 has secured itself the undisputed market management. With 7,177 items delivered, the expressive electrical scooter exceeded the earlier 12 months’s deliveries by 44 %. Supplemented by the 2 profitable scooters
C 400 GT and C 400 X, the Urban Mobility section of BMW Motorrad achieved a gross sales quantity of 20,460 items, which corresponds to a rise of 17.9 % in comparison with the earlier 12 months.

Optimistic outlook for 2024.
Stephan Reiff, Head of Sales and Brand: “The sales record in our anniversary year is both an honour and an obligation. With numerous new, innovative models and products for our customers, we at BMW Motorrad will do everything in our power to build on this record year in 2024 and further consolidate our leading position in the premium segment. Our new GS models in particular will play an important role here. This year, our customers and fans can once again look forward to numerous world premieres, highlights, events and emotionally charged motorcycles offers.”

You will discover press materials on BMW bikes within the BMW Group PressClub at www.press.bmwgroup.com.

Motorsport

Volkswagen Group Sold 9.24 Million Cars In 2023. Will That Beat Toyota?

To say Volkswagen Group had a fantastic 2023 can be an understatement. With 9.24 million vehicles delivered by its many manufacturers, shipments grew by 12 % over the earlier yr. But it isn’t simply because demand was stronger; VW had an enormous backlog of orders brought on by provide bottlenecks surrounding the coronavirus pandemic and Russia’s invasion of Ukraine.

But with a lot of the logistical points solved, the automotive conglomerate was capable of pump out much more vehicles. Deliveries grew in all of the VW Group’s most vital markets, and Western Europe was the most important area, with 3.27 million autos (+21 % YoY). China was proper behind with 3.24 million vehicles (+2 %), adopted by North America with 0.99 million models (+18 %).

  2022 Sales 2023 Sales Percent Increase
Volkswagen Group 8.26 Million 9.24 Million + 12 Percent

BMW

A profitable 2023: BMW Group posts document gross sales, meets bold e-mobility development targets

Munich. The BMW Group delivered a complete of two,555,341 BMW, MINI and Rolls-Royce automobiles to prospects final yr (+6.5%) – a brand new all-time gross sales excessive for the corporate. The BMW, Rolls-Royce and BMW Motorrad manufacturers additionally reported new document highs in 2023. In the fourth quarter, BMW Group gross sales climbed to 718,778 models, up +10.3% on the earlier yr.

 

“Thanks to close co-operation with our retail partners and driven by the strong performance of our associates, the BMW Group was able to achieve a new all-time sales high for 2023. Customers around the world appreciate our strong brands BMW, MINI, Motorrad and Rolls-Royce and in particular the choice of different drive technologies across the entire BMW Group product range“, said Jochen Goller, member of the Board of Management of BMW AG, responsible for Customer, Brands, Sales. “With our new, highly attractive and technologically outstanding vehicles, we were able to ramp up electromobility even more dynamically in 2023 and achieve the goal of 15% of total sales from fully-electric vehicles”, Goller continued.

Thanks to a powerful crew effort, the BMW Group as soon as once more managed to considerably improve its worldwide deliveries of fully-electric merchandise final yr to 376,183 models. This represents a year-on-year gross sales development of +74.4% for the corporate. In the fourth quarter, the BMW Group delivered 129,316 fully-electric automobiles to prospects (+47.7%). Its gross sales of fully-electric automobiles for the yr 2023 considerably outperformed the overall marketplace for fully-electric automobiles, underlining the corporate’s function as an e-mobility pioneer.

The BMW Group is assured it will likely be in a position to preserve its BEV development trajectory in 2024. With a spread of 18 fully-electric fashions spanning all its manufacturers’ primary segments, the BMW Group is laying a powerful basis for dynamic BEV development within the coming years: One in each 5 of the corporate’s newly delivered automobiles can have a fully-electric drive prepare this yr; by 2025, it will likely be one in 4. “We see continued excessive demand for our fully-electric merchandise and, based mostly on our robust, cross-brand product portfolio, anticipate to promote greater than half 1,000,000 fully-electric automobiles in 2024“, mentioned Goller.

 

BMW model as soon as once more tops world premium section in 2023

 

With a complete of two,253,835 automobiles delivered to prospects worldwide in 2023, the BMW model posted development of +7.3% from the earlier yr, with gross sales reaching a brand new all-time excessive. The BMW model was as soon as once more in a position to defend its main place within the world premium section final yr.

The model’s fully-electric automobiles, specifically, have been in excessive demand, with a complete of 330,596 models delivered to prospects in 2023 (+92.2%). Fourth-quarter deliveries of fully-electric BMW automobiles reached 113,458 models (+55.4%).

Models within the higher value section, such because the BMW 7 Series and the BMW X7, additionally benefited from robust demand in 2023. Fully-electric fashions, together with the BMW iX1* and the BMW i4*, specifically, have been among the many primary gross sales drivers. Last yr, the BMW X1, BMW 3 Series and the BMW X3 remained particularly common with prospects.

With the launch of the fully-electric BMW i5* final yr, the BMW Group now has a fully-electric possibility in every of its primary segments. The fully-electric BMW iX2* has additionally been added to the line-up. Later this yr, the primary fully-electric touring mannequin will make its debut as a part of the BMW 5 mannequin sequence.

BMW M GmbH grows gross sales considerably to achieve new milestone

 

With a complete of 202,530 efficiency and high-performance vehicles bought in 2023, BMW M GmbH posted its best-ever end result within the firm’s greater than 50-year historical past – a rise of +14.3% in comparison with the earlier yr. In addition to the profitable market launch of the M2*, XM* and M3* Touring high-performance fashions, the BMW i4 M50* fully-electric efficiency mannequin additionally deserves specific point out. Just just like the earlier yr, the BMW i4 M50 was the best-selling BMW M automotive and is a major instance of the systematic transformation of the model in direction of electromobility. The vary of battery-electric automobiles within the government and luxurious automotive section was rounded out by the BMW i5 M60* and the BMW i7 M60*.

 

Strong BEV development for MINI

 

The MINI model bought a complete of 295,474 automobiles (+0.9%) final yr, with gross sales of fully-electric MINI fashions up 3.5% to 45,261 models. The fully-electric MINI Cooper SE* launched in 2020 stays the best-selling MINI mannequin variant. The fully-electric MINI Cooper SE Convertible was launched onto the market final yr. The restricted version of 999 models bought out in most markets inside a number of weeks of the announcement. Fully-electric automobiles now make up 15.3% of whole MINI gross sales for the complete yr 2023.

The new MINI household will likely be launched onto the market over the course of 2024. The fully-electric MINI Cooper SE and MINI Cooper E will likely be joined by two additional fully-electric fashions, the MINI Countryman SE and the MINI Countryman E. Both the MINI Cooper and the MINI Countryman may even be obtainable with an inner combustion engine. The yet-to-be-unveiled new MINI Aceman, a compact five-seater crossover, will likely be a pure-electric mannequin as effectively.

Rolls-Royce ends 2023 with all-time gross sales excessive

 

Rolls-Royce Motor Cars loved a vastly profitable 2023, with robust world demand for its merchandise and Bespoke orders at document ranges. The model based mostly at Goodwood within the UK delivered 6,032 vehicles to prospects final yr – the best recorded in its historical past. Rolls-Royce reported gross sales development in many of the 50 markets by which it operates.

 

Significant development was additionally seen within the worth of the marque’s unrivalled Bespoke initiatives – the facets of each Rolls-Royce hand-built on the firm’s dwelling at Goodwood and that are totally private to the commissioning shopper. To assist the ever-increasing world demand for complicated and distinctive Bespoke initiatives, Rolls-Royce additional expanded its worldwide Private Office community: Shanghai opened in 2023, whereas places of work in Seoul and North America have been introduced for 2024. The firm additionally introduced substantial new funding within the Home of Rolls-Royce at Goodwood, UK, principally to increase capabilities for Bespoke, together with Coachbuild.

2023 was additionally notable for the introduction of Rolls-Royce Spectre*, the marque’s eagerly awaited, first fully-electric motor automotive. Deliveries of Spectre started as deliberate within the fourth quarter, with orders already stretching into 2025. Demand for all present Rolls-Royce fashions stays robust: Cullinan* is probably the most requested mannequin worldwide, adopted by Ghost*, with Phantom* remaining the marque’s pinnacle product.

 

BMW Motorrad crowns centenary yr with highest gross sales in its historical past

 

With a complete of 209,257 bikes and scooters delivered to prospects – a rise of +3.1% year-on-year, BMW Motorrad reported its highest-ever gross sales to mark its centenary yr. The Europe, Asia, North and Latin America areas, specifically, all posted new gross sales highs and made a significant contribution to BMW Motorrad’s document gross sales. The model’s compelling lineup, with profitable merchandise that outline their respective segments, together with the market introduction of common new fashions, just like the highly effective M 1000 R and the enduring R 1300 GS touring enduro, have been robust elements in its profitable efficiency in 2023.

 

BMW & MINI gross sales within the areas/markets

 

In the US, a complete of 395,741 BMW and MINI automobiles have been delivered to prospects between January and December 2023. This represents a rise of +9.4%.

In Europe, gross sales of BMW and MINI automobiles totalled 942,805 models for the complete yr 2023 (+7.5%).

In China, the BMW Group bought 824,932 BMW and MINI automobiles in 2023 (+4.2%).

In Germany, 281,986 BMW and MINI automobiles have been registered throughout this era.

BMW Group gross sales in This fall/YTD December 2023 at a look

 

 

4th quarter 2023

Compared with earlier yr %

YTD

December 2023

Compared with earlier yr %

BMW Group Automotive

718,778

+10.3%

2,555,341

+6.5%

BMW

632,568

+11.6%

2,253,835

+7.3%

– BMW M GmbH

58,865

+11.5%

202,530

+14.3%

MINI

84,733

+1.3%

295,474

+0.9%

BMW Group electrified1

181,075

+20.3%

566,486

+30.6%

BMW Group BEV

129,316

+47.7%

376,183

+74.4%

Rolls-Royce

1,477

+11.9%

6,032

+0.2%

BMW Motorrad

44,349

+1.8%

209,257

+3.1%

1BEVs and PHEVs

 

4th quarter 2023

Compared with earlier yr %

YTD

December 2023

Compared with earlier yr %

Europe

272,686

+10.2%

         942,805             

+7.5%

Germany2

76,039

+12.3%

281,986

+11.7%

Asia

286,953

+10.2%

1,070,142

+4.1%

China

222,021

+11.5%

824,932

+4.2%

Americas

142,287

+8.1%

480,380

+9.3%

USA

   118,609          

+5.8%

395,741

+9.4%

2Provisional registration figures

The supply figures reported on this press launch are provisional and will change up till the BMW Group Report 2023 is printed. Notes on how supply figures are ready will be discovered within the BMW Group Report 2022 on p. 67.

 

BMW Group Corporate Communications 

Carolin Bachmann, Communications Sales

Telephone: +49 89 382-38801

Email: carolin.bachmann@bmwgroup.com  

Dr Sina Unger, Communications Sales

Telephone: +49 89 382-47564

Email: sina.unger@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

Motorsport

Nissan GT-R Sales Shot Up 584 Percent In 2023

Nissan’s gross sales figures for 2023 are out, with 898,796 models delivered over 22 mannequin traces. One automotive has us significantly intrigued: The Nissan GT-R. The firm managed to promote 390 examples of its all-wheel drive supercar final yr, a comically dramatic 584-percent enhance over 2022, the place it bought simply 57 models.

We suspect the increase in gross sales had lots to do with the numerous refresh given to the GT-R again in January 2023. There are new fascias entrance and rear for higher aerodynamic effectivity and a entrance limited-slip differential for the hardcore Nismo model. Nissan added a brand new T-Spec trim, which mixes the bottom powertrain with the Nismo’s widened physique, suspension, and carbon-ceramic brakes. There are additionally two new throwback colours obtainable: Millennium jade and Midnight purple.

2024 Nissan GT-R Nismo

Still, seeing such a lift is uncommon contemplating the GT-R has gone largely with out main modifications to the drivetrain or structure since its launch all the way in which again in 2007. The 2024 mannequin makes roughly the identical 565 hp because it has for eight years. Likewise, whereas the inside has been given significant updates, it nonetheless very a lot appears like a time capsule from the 2010s.

But we will see why some consumers may desire a automotive just like the GT-R. It might have been thought of superior and hyper-digital within the mid-aughts, however Nissan’s competitors has taken that even additional within the meantime. It nonetheless has hydraulic steering, as an illustration, one thing you would be hard-pressed to search out in even the most costly exotics, and there are nonetheless a number of actual, bodily buttons inside. With a curb weight of three,850 kilos, it is also comparatively gentle for what it’s. Keep in thoughts a brand new BMW M2 weighs 3,867 lbs.

While we’re certain this iteration is probably going the final hurrah for the GT-R, we’ll be unhappy to see it go. There’s by no means been something really prefer it available on the market, and we suspect there by no means will probably be once more, even when Nissan decides to make a brand new one.

Check out Motor1’s Rambling About Cars podcast for extra on GT-R gross sales and different automotive chat, obtainable under.