Slide 2: BMW Group Quarterly Statement up to September 30, 2023
Good morning, ladies and gentlemen!
Slide 3: Highlights of BMW Group Performance in Q3 and YTD September
The BMW Group had a strong performance in the third quarter with solid sales growth and positive financial key figures.
In the third quarter, the Group’s EBT margin was 10.6%, and for the nine-month period from January to September, it was 11.9% – surpassing the strategic target of 10%.
The Automotive Segment’s EBIT margin was 9.8% for the third quarter and 10.3% for the year up to September. Without depreciation of BBA assets, the margins were 10.8% for Q3 and 11.4% for nine months.
After a successful third quarter, the BMW Group expects a positive business development in the fourth quarter. All segments are on track to meet their goals for the year.
Now, let’s take a closer look at the business figures for the third quarter and the first nine months.
Slide 4: BMW Group in Q3
Starting with the Group figures, the earnings before tax for the third quarter were consistent with last year, at just under 4.1 billion euros. The year-to-date pre-tax earnings decreased by about 6.8 billion euros, but this includes a one-time income from the revaluation of equity interests in BBA last year. Looking at the underlying operating result, Group earnings were 900 million euros higher year-on-year in the first nine months.
Slide 5: Automotive Retail units, BEV units, Auto revenue and Auto EBIT
Now, let’s focus on the Automotive Segment. In the third quarter of 2023, the BMW Group delivered just under 622,000 vehicles to customers, a 5.8% increase compared to the previous year. Year to date September, deliveries rose 5.1% to around 1.84 million vehicles.
The order books are filled, and new models like the BMW 5 Series will contribute to future sales growth. The BMW Group sold around 94,000 all-electric vehicles in Q3 and just under 247,000 for the nine-month period. The share of battery-electric vehicles in total sales continues to grow, reaching 15.1% in Q3. The sales of all-electric vehicles are expected to receive a further boost from the launch of the new BMW i5 in the fourth quarter.
The Automotive Segment’s operating result for the third quarter was just over 3.1 billion euros, with an EBIT margin of 9.8%. Year to date September, the EBIT margin was 10.3%.
Slide 6: Automotive Segment EBIT in Q3
Looking at the Automotive Segment’s operating result in more detail, the year-on-year comparison shows that Q3 2023 was impacted by currency and raw material positions, mainly due to currency translation effects from the Chinese renminbi. Higher vehicle sales, favorable model mix, and pricing effects contributed to a tailwind. Research and development expenses increased, reflecting investments in electrification, digitalization, and new models. Sales and administrative costs also increased, partly due to digitalization projects. Other cost changes included material and logistics costs.
Slide 7: Automotive Segment Free Cash Flow in Q3
Free cash flow in the Automotive Segment was 2.6 billion euros in the third quarter. The strong quarterly result and change in working capital contributed to this figure. Capital expenditure and depreciation had a negative impact, while changes in provisions and other items boosted free cash flow. At the end of September, free cash flow stood at around 5.8 billion euros. In the fourth quarter, there will be a significant increase in capital expenditure, and costs and higher tax payments will weigh on free cash flow.
Slide 8: Financial Services Segment YTD September
In the Financial Services Segment, new financing and leasing contracts with retail customers decreased by 5.6% year to date September, mainly due to higher interest rates. However, new business in financial services showed a positive trend in Q3, with contracts with end customers rising by 5.7% compared to Q3 2022. Segment earnings before tax decreased by 8.3%, reflecting higher refinancing costs and a smaller total portfolio size.
Slide 9: Motorcycles Segment in Q3
In the Motorcycles Segment, sales in the third quarter were on par with the high level of Q3 2022. The EBIT margin for the quarter was -0.6%, and for the first nine months, it was 12.0%.
Slide 10: Outlook 2023
The BMW Group expects stable business development for the rest of the year and confirms its guidance for the financial year 2023 for all segments, assuming geopolitical and macroeconomic conditions do not significantly deteriorate. In the Automotive Segment, a solid increase in deliveries is planned, with an EBIT margin between 9 and 10.5% and a Return on Capital Employed (RoCE) between 18 and 22%. The Motorcycles Segment is projected to report higher sales, with an EBIT margin between 8 and 10% and a RoCE between 21 and 26%. The Financial Services Segment aims for a Return on Equity (RoE) between 16 and 19% for the full year.
Slide 11: BMW Group performs as it transforms
The BMW Group’s third-quarter results showcase its performance capabilities. With an attractive product portfolio and a long-term strategy, the Group remains cautiously optimistic about the future. Continuous profitable growth and disciplined cost management support the BMW Group’s business success and investments in emission-free mobility. The Group’s financial strength allows it to shape its own future and create value.
From their smooth power delivery to their raw exhaust notes, V8 engines hold a special place in the hearts of enthusiasts. Unfortunately, with pressing environmental concerns and a shift in the market, both the V8 engine and the sedan body style are going away. Apart from a handful of American cars, V8-powered performance sedans are considered a dying breed, while most seem reserved for enthusiasts with deep pockets.
According to KBB: the average price of a new car is hovering at around $48,334, and used car prices are averaging at around $27,147 in 2023. With staggering new car prices and little variety in the V-8 sedan department, enthusiasts are looking into cars from the previous few decades with rose-tinted glasses, where V8 power was almost ubiquitous. Fortunately, there are a plethora of older V-8 performance sedans that deliver exceptional performance without making your wallet a Superleggera.
Even though most would agree that older cars are more fun and engaging to drive, one must be cautious not to veer off into the deep end. There seems to be a consensus among enthusiasts that the vehicles produced between the 1990s and the end of the 2000s hit the perfect balance between reliable modern technology and an analog driving experience. The following list contains older V-8 performance sedans, within the aforementioned era, that are reasonably priced yet slightly overlooked.
We’ve sourced data from Classic.com, and Car and Driver to bring you this list of 10 forgotten V-8 powered sports sedans that won’t break the bank.
The E39 is BMW’s fourth generation of the 5-Series sedan, and the M5 is where BMW’s M division started to bless their cars with V8 engines. The V-8 strapped under the M5 was a beast: 400 horsepower as compared to the 350 hp from the comparable Mercedes and Audi of the period. Power is delivered via a 6-speed manual to a rear limited-slip differential. All complemented by a menacing look, nearly similar to the lesser E39s, making it a poster child of sleeper sedans.
The E39 M5 is arguably the best 5-series sedan that the Bavarian manufacturer ever made. Being the perfect blend of the analog and the modern, the E39 M5 is slowly becoming a sought-after classic among enthusiasts. Prices are slowly creeping up, while ones in pristine condition are commanding a premium.
9BMW M3 E90
Avg price on Classic.com: $29,695
Via Bring a Trailer
The fourth-gen M3 is arguably BMW’s most daring 3-series; being the only generation of M3 fitted with a V-8 engine. The engine code of the E90 M3 gives the impression that it is related to the V-8 in the E39 M5, but unlike most other M engines, the S65 bears no relation to other BMW production engines. The S65 V-8, along with the S85 V-10 used in the E60 M5, were developed in-house by the M-Division.
Performance
Production
2008-2013
Engine
Naturally Aspirated 4.0L S65B40 V-8
0 to 60 MPH
4.8s
Top Speed
155 MPH
Horsepower
414 HP
Torque
295 Pound-Feet
Transmission
6-speed manual 7-speed Getrag dual-clutch
Layout
Rear-Wheel Drive
Curb Weight
3,726 pounds
(Performance specifications sourced from automobile-catalog.com)
This generation of M3 was available in three body styles, just like the E36: offered as a sedan (E90), a coupe (E92), or a convertible (E93). Despite some reported reliability issues, the BMW E92 coupe is highly sought after, with the GTS model taking all the spotlight. The E90 sedan appears to be staying within reach for a while now, making it a perfect pick for enthusiasts seeking practicality and performance.
8Lancia Thema 8.32
Avg price on Classic.com: $21,274
via Bring a Trailer
The name Lancia evokes an illustrious past with an incredible rally pedigree. Unlike today, Lancia was one of the top Italian manufacturers, making cars for both the public and hard-core enthusiasts. The Thema was a luxury sedan that came out in 1984 and was produced until 1994. It was based on the all-new Type Four platform that was also shared among other Fiat brands. A variety of engines powered the Thema ranging from a 2.0-liter Fiat 834B inline-four to a 3.0-liter Alfa Romeo V-6.
Performance
Production
1987–1989
Engine
Transversely mounted 2.9L Ferrari Tipo F105L V-8
0 to 60 MPH
6.8s
Top Speed
140 MPH
Horsepower
212 HP
Torque
210 Pound-Feet
Transmission
5-speed manual gearbox
Layout
Front-Wheel Drive
Curb Weight
3,086 pounds
(Performance specifications sourced from automobile-catalog.com)
Lancia wanted their Thema to compete with the likes of BMW and Mercedes in the “super-sedan” segment. Since Fiat is also a stakeholder in Ferrari, they allowed Lancia to borrow the Tipo F105L V-8 for their vision of an ultimate sedan. The engine was mounted transversely for a front-wheel drive application, with a cross-plane crankshaft.
The 8.32 in the name implies the number of cylinders, followed by the number of valves. Power was delivered via a five-speed manual. There was also a retractable rear spoiler for stability at high speed that was flush with the trunk lid when not needed. The Thema 8.32 was considered a fantastic car, with even Enzo Ferrari himself having one as his personal car for many years.
The fifth generation of the Quattroporte, which debuted in 2003, was the company’s flagship large sedan. It was powered by a front mid-mounted NA Ferrari V-8 called the F136, which was a joint venture between Ferrari and Maserati. The V-8 used a cross-plane crankshaft and had one of the most addictive soundtracks in the entire industry. It was also considered an icon of Italian elegance, being designed by Pininfarina’s then chief designer.
Performance
Production
2003–2012
Engine
Naturally Aspirated 4.7L Ferrari F136 Y V-8
0 to 60 MPH
5.3s
Top Speed
168 MPH
Horsepower
396 HP
Torque
339 Pound-Feet
Transmission
6-speed ZF 6HP26 automatic
Layout
Rear-Wheel Drive
Curb Weight
4,387 pounds
(Performance specifications sourced from automobile-catalog.com)
The M139 Quattroporte had a six-figure price tag when new. Currently, prices are averaging at around the $21,000 mark, but with a good reason. While it is adored for its gorgeous styling and sensational engine noise, it is also well known for its horrendous reliability. The initially offered DuoSelect automated manual transmission was known for burning through clutches and expensive repairs. Fortunately, the latter ZF units were fairly reliable and were less janky.
6Chevy Impala SS
Avg price on Classic.com: $20,931
Bring a Trailer
Perhaps everyone is familiar with the fourth-generation Chevy Caprice Police Interceptors used in the late 80s and early 90s. Well, for a brief period, they also made some monsters for the villains based on the same platform: the Chevy Impala SS. It was the embodiment of a sleeper muscle sedan from the 90s. It had much of the equipment from the police car twin, including a sport-tuned suspension, dual exhausts, a high-capacity cooling system, and a higher-output electrical system.
Performance
Production
1994-1996
Engine
5.7L (350 cu in) LT1 V-8
0 to 60 MPH
7.1s
Top Speed
145 MPH
Horsepower
260 HP
Torque
330 Pound-Feet
Transmission
4-speed 4L60-E automatic
Layout
Rear-Wheel Drive
Curb Weight
4,037 pounds
(Performance specifications sourced from automobile-catalog.com)
While performance figures don’t look all that interesting by today’s standards. It was powered by the same LT1 V-8 engine used in the C4 Corvette of the period, albeit with a slightly different cylinder head, earning it the nickname “The Four-Door Corvette”. Today, the Impala SS seems forgotten, despite its reasonable price tag, good reliability, and performance.
5Cadillac CTS-V – 1st Gen
Avg price on Classic.com: $20,050
Cadillac
Throughout the years Cadillac had cemented its name as the premier luxury offering from General Motors. However, in 2004, GM decided to throw their strongest punch against their German rivals: the likes of BMW M5 and Mercedes C55 AMG. They took the ordinary CTS sedan and strapped their LS engines snatched from the Corvette, with the only transmission available being a six-speed manual.
Performance
Production
2004-2007
Engine
5.7L OHV LS6 V-8 6.0L OHV LS2 V-8
0 to 60 MPH
4.6s
Top Speed
163 MPH
Horsepower
400 HP
Torque
395 Pound-Feet
Transmission
6-speed Tremec T-56 manual
Layout
Rear-Wheel Drive
Curb Weight
3,849 pounds
(Performance specifications sourced from automobile-catalog.com)
The CTS-V was received with much fanfare. The first-gen CTS-V was a bit of a sleeper and a steal next to the German competition of its time, and its pricing remains great by comparison today. It can also be found with much more reasonable pricing than its successor, despite only 8,802 being built.
In 2003, Ford pulled the same trick Chevy pulled a few years ago with the Impala SS to the Mercury Grand Marquis and named it the Marauder. But unlike the Impala SS, the Marauder was sold in small numbers, 11,052 of them to be exact. Adding to the aura of the sleeper muscle sedan was that 8,330 of the 11,052 were sold in a black color.
Performance
Production
2003–2004
Engine
4.6L Modular DOHC V-8
0 to 60 MPH
7.5s
Top Speed
137 MPH
Horsepower
302 HP
Torque
318 Pound-Feet
Transmission
4-speed automatic
Layout
Rear-Wheel Drive
Curb Weight
4,195 pounds
(Performance specifications sourced from automobile-catalog.com)
Unlike its other panther-bodied brethren, the Marauder shared its V-8 with the fourth-gen Ford Mustang Mach 1. The Marauder also used heavier-duty brake and suspension components from the Ford Crown Victoria Police Interceptor. The Marauder is truly an icon with a spirit from the V-8 muscle car era. When you consider that this is the final old-school, body-on-frame, American V-8 muscle sedan, the premium over a standard Grand Marquis would make it a worthwhile purchase.
3Mercedes-Benz 400E – W124
Avg price on Classic.com: $12,798
via Bring a Trailer
Early in the 1990s, the famed partnership between the Stuttgart powerhouses Mercedes and Porsche gave birth to an icon: a 5.0L V-8 powered super sedan dubbed the 500E. Well, the prices of those cars are slowly reaching a new high. The 400E is the little brother of the 500E, not as special but nearly as powerful, currently averaging a quarter of the price.
Performance
Production
1992–1993 400E 1994-1996 E420
Engine
4.2L M119.975 V-8
0 to 60 MPH
6.8s
Top Speed
155 MPH
Horsepower
275 HP
Torque
295 Pound-Feet
Transmission
4-speed 4G-TRONIC Automatic
Layout
Rear-Wheel Drive
Curb Weight
3,571 pounds
(Performance specifications sourced from automobile-catalog.com)
The 400E and the 500E basically shared the same M119 V-8 engine, except the 500E’s had larger bore and stroke. The 400E is 54 horses less than the 500E, but is still a potent sedan. For the 1994 model year, Mercedes altered the naming convention of their lineup such that the number, which now represents the displacement, came before the letter. Therefore, the 400E is now the 420E but is the same vehicle.
2Jaguar XJ308
Avg price on Classic.com: $12,425
Mecum
The XJ was Jaguar’s full-size luxury sedan nameplate since the series-1 came out in 1968. The XJ308 was the sixth generation of XJs. It kept much of the same exterior styling as its predecessor, the Jaguar XJ (X300), carrying its rounded four-headlamp hood, low roof-line, sloping tail, and wrap-around rear light clusters. Where the XJ308 differed was in the engine bay, it was the first outing of Jaguar’s legendary AJ-V8 in a sedan body style.
Performance
Production
1998–2003
Engine
NA/Supercharged 4.0L Jaguar AJ V-8
0 to 60 MPH
7.3s
Top Speed
149 MPH
Horsepower
290-370 HP
Torque
290-387 Pound-Feet
Transmission
5-Speed Automatic
Layout
Rear-Wheel Drive
Curb Weight
3,968-4,134 pounds
(Performance specifications sourced from automobile-catalog.com)
Every available engine for the XJ308 was a V-8 with a displacement beginning at 3.2L. Jaguar only sent the 4.0L versions to the US, both in short and long-wheelbase form, with either a naturally-aspirated V-8 with 290 horsepower, or a supercharged V-8 with a whopping 370 horsepower.
Jaguar greatly benefited from Ford’s ownership back in the day, the XJ308 is considered a fairly reliable Jaguar and the last of the original XJ line before Jaguar’s switch to a more modern approach for the XJ350-generation car. The XJ308 offers a nice sweet spot between the classic and the modern, at a reasonable price tag.
“S” badged Audis are mechanically upgraded, high-performance versions of their regular line-up of cars. Kind of like Audi’s own AMG or M-Division. The Audi S8 is the performance variant of their full-size luxury sedan, the A8, fitted with Audi’s Quattro all-wheel drive system as standard. Introduced for the 1996 model year, the D2 was the first generation of S8s. It was fitted with a powerful 4.2L V-8, along with various upgrades to the drivetrain and chassis.
(Performance specifications sourced from automobile-catalog.com)
The Audi S8 ticks so many boxes for enthusiasts seeking a true performance sedan: it has a naturally-aspirated 4.2L V-8 with over 360 horsepower, it was available as a manual, it has independent double wishbone suspension, it has an AWD system and aluminum construction for all-weather practicality, and it currently sits at a very reasonable price point. One must be aware that the A8 and S8 were technologically advanced cars for the time, thus keep an eye out for any potential problems that could eventually affect their longevity.
Buyers who have ordered a 2023 Corvette Z06 are experiencing delays in receiving their cars. These delays are a result of ongoing production challenges caused by parts shortages. Despite the completion of the first year of production, customers who placed orders for a 2023 Z06 are finding that their vehicles are stuck in limbo, indicating that the cars have been built but do not have a scheduled delivery date yet.
CorvetteBlogger.com reports that there are hundreds of 2023 Corvette Z06 cars waiting for parts in a lot outside the Bowling Green assembly plant. This means that many buyers have their vehicles stuck at production code 3800, which signifies that the cars are built but are awaiting shipment. With the recent UAW strike further complicating matters, concerns have grown about the extended wait for this high-performance version of the sportscar.
As of now, Valve’s online store shows that the estimated delivery time for Steam Deck orders is between seven and fourteen days. Shipping is already included in the purchase price, and for customers in the United States and Canada, Federal Express will handle the deliveries from a warehouse in Carol Stream, Illinois. Customers in the United Kingdom and European Union will have their orders shipped by either DHL or GLS from a warehouse in Waalwijk, the Netherlands.
In terms of specifications, the Steam Deck is equipped with an AMD APU that consists of a Zen 2 CPU, featuring four cores and eight threads. The CPU operates at a frequency range of 2.4GHz to 3.5GHz, delivering up to 448 GFlops FP32. Additionally, it includes a Van Gogh GPU running at 1.0GHz to 1.6GHz. The system also offers 16GB of RAM, which is shared between the GPU and the system itself. The storage capacity varies depending on the model, with the 64GB model having PCIe Gen 2 x1 storage, while the other models come with either PCIe Gen 3 x4 or PCIe Gen 3 x2 storage.
RML Group, a well-known brand in the automotive industry, is ready to make a splash with the delivery of its first production Short Wheelbase (SWB) model. After four years of extensive planning, designing, engineering, and testing, the hand-built car is set to be delivered to its owner in the United States. But before that, it will be showcased at Monterey Car Week from August 11-20.
The car itself is a visual delight, meticulously handcrafted over a period of nine months to the highest standards. Its striking triple-layer yellow and deep metallic blue exterior paint, along with satin chrome highlights in the cabin, blue Alcantara and leather trim, and contrasting yellow stitching, create a stunning appearance. According to RML’s CEO, Michael Mallock, “Car One really does look incredible,” and it showcases the dedication and attention to detail of the entire RML team.
What sets this Short Wheelbase model apart is the advanced technology used in its construction. All parts are laser-cut, and the manufacturing process maintains a maximum tolerance of 0.25mm, ensuring consistent high-quality production.
Under the hood, the RML Short Wheelbase houses a 5.5-litre Ferrari V12 engine, capable of producing 479bhp. The design pays homage to classic supercars while incorporating 21st-century features, making it a contemporary masterpiece. It is paired with a manual six-speed gearbox, offering an exhilarating yet comfortable ride that seamlessly combines tradition with modernity.
In addition, the Short Wheelbase integrates modern conveniences such as navigation, air conditioning, cup holders, and smartphone connectivity without compromising its classic style. With an acceleration time of 0-60mph in just 4.1 seconds and a top speed of 180mph, it is a car built for both speed and style.
The arrival of this first Short Wheelbase model marks the beginning of an exciting chapter for RML. After Car One, the next two production Short Wheelbases will soon be ready for their owners. The company plans to build a total of 30 Short Wheelbases, each representing the pinnacle of luxury, quality, and performance.
With Monterey Car Week just around the corner, car enthusiasts are eagerly anticipating the opportunity to see RML’s new offering firsthand. The RML Short Wheelbase has already created significant buzz, and its unveiling is expected to be one of the highlights of the event. Blending old-world charm with modern technology, it not only captures the essence of the golden era of high-performance GTs but also propels it into the future. For those seeking a vehicle that masterfully combines tradition with innovation, the RML Short Wheelbase promises to be an enticing option. The automotive world is watching, and the highly-anticipated day is almost here.
The K-Code for priority delivery is only applicable for bookings made on July 14
– India-spec Kia Seltos facelift made its debut on July 4.
– Bookings to open from July 14 for a token of Rs 25,000.
– Gets revised styling for a sleeker and sportier exterior.
– More feature-loaded than ever, now with panoramic sunroof and ADAS.
– New Seltos is expected to launch by mid-August with prices starting from Rs 11 lakh (ex-showroom).
The bookings for the much-awaited [Kia Seltos](https://www.cardekho.com/kia/seltos-2023) facelift open from 12 AM July 14. In anticipation of high demand, Kia is offering existing Seltos owners the chance to get priority delivery for their bookings using something called the K-Code. According to dealer sources, the booking amount for the 2023 Seltos is set at Rs 25,000.
What is the Kia K-Code?
Owners of the outgoing Seltos can generate a K-Code via the MyKia app or the Kia India website, that can be used at the time of booking the facelifted Seltos. The code can only be used for one booking but it is transferable to friends or family who are looking to get priority delivery for the new Seltos.
Important: The K-Code is only applicable for bookings made on July 14.
2023 Kia Seltos Key Changes
The Seltos compact SUV gets a comprehensive update with its first facelift since debuting in 2019. It gets small but effective exterior design changes with the larger grille, longer LED DRLs, connected LED taillamps, and sportier bumpers.
Kia has been more thorough with the updates to the interior of the facelifted Seltos. It sports a new integrated screen setup with two 10.25-inch displays (one for the infotainment and one for the instrumentation), new dual-zone climate control panel, and a panoramic sunroof. The compact SUV is safer too with the addition of advanced driver assist systems (ADAS) for features like adaptive cruise control and auto emergency braking.
Also read: [Kia Seltos Facelift’s Variant-wise Features Revealed](https://www.cardekho.com/india-car-news/kia-seltos-facelifts-variantwise-features-revealed-31107.htm)
Familiar Powertrains
The Kia Seltos facelift comes with the choice of three 1.5-litre engines. It continues to be one of two compact SUVs to still offer a diesel engine option, while sticking with the outgoing model’s petrol engine as well. The brand’s new 1.5-litre turbo-petrol engine has made its way to the 2023 Seltos from the Carens MPV. Each engine gets its own choice of automatic transmission, only the petrol engine offers a 6-speed manual, while the other two come with Kia’s iMT (manual without a clutch pedal).
Expected Launch & Prices
The new Kia Seltos is likely to be launched sometime in August with prices expected to start from Rs 11 lakh (ex-showroom). Refreshed in design and now more feature-rich than ever, it will continue to rival the Hyundai Creta, Maruti Grand Vitara, Skoda Kushaq, Volkswagen Taigun, Toyota Hyryder, MG Astor and upcoming SUVs like the Honda Elevate and Citroen C3 Aircross.
Read More on: [Seltos diesel](https://www.cardekho.com/kia/seltos)
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