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Honda Amaze Crash Tested By Global NCAP Again, Now Gets A 2 Star Safety Rating
Despite the decrease security score, its footwell space and bodyshell have been deemed ‘stable’
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The Honda Amaze scored 27.85 factors out of 34 in grownup occupant safety, leading to a 2-star score.
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In little one occupant safety, it scored 8.58 out 49, therefore getting a zero-star security score.
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Safety characteristic misses like digital stability management and aspect curtain airbags led to the low rating.
The Honda Amaze has not too long ago been crash-tested by the Global NCAP (New Car Assessment Program) once more, this time receiving poor security scores in each grownup occupant safety (AOP) and little one occupant safety (COP). Initially, the subcompact Honda sedan was crash-tested in 2019 (South Africa-spec) by the Global NCAP, the place it achieved a 4-star security score. However, this time, the Amaze underwent testing based on the up to date Global NCAP protocols. Let’s take a better take a look at its efficiency in every take a look at.
Disclaimer: Note that Global NCAP hasn’t examined the up to date model of the Amaze which now additionally will get seat belt reminders for all seats.
|
Protection |
Adult Occupant Protection |
Child Occupant Protection |
|
Rating |
2 stars |
0 star |
|
Score |
27.85/34 |
8.58/49 |
|
Bodyshell Integrity |
Stable |
|
Adult Occupant Protection (27.85 factors out of 34)
Frontal Impact (64 kmph)
In the frontal influence crash take a look at, Honda’s subcompact sedan demonstrated ‘good’ safety for the pinnacle and neck of each the driving force and co-driver, in addition to ‘adequate’ chest safety for each occupants. However, the knees of each the driving force and the passenger confirmed ‘marginal’ safety, whereas their tibias confirmed ‘good’ safety.
Side Impact (50 kmph)
The head and pelvis obtained ‘good’ safety, whereas the chest confirmed ‘marginal’ safety and the stomach confirmed ‘adequate’ safety.
Side Pole Impact
This crash take a look at was not carried out resulting from unavailability of the aspect curtain airbags.
Also Check Out: Mahindra Bolero Neo Performs Poorly In Global NCAP, Gets 1 Star
Child Occupant Protection (8.58 factors out of 49)
Frontal Impact (64 kmph)
For the 3-year-old little one dummy, the forward-facing little one seats had been put in utilizing the ISOFIX anchorages. Though extreme head harm was not noticed, nonetheless the pinnacle contacted the inside components of the car. In the case of the 18-month-old little one dummy, the kid seat was mounted dealing with rearward and it was unable to supply enough safety, therefore it will get zero factors on this take a look at.
Side Impact (50 kmph)
Both the kid restraint methods (CRS) managed to supply full safety through the aspect influence take a look at.
Body Shell Integrity & Footwell
Though the Honda Amaze will get poor scores in each AOP and COP, its bodyshell and footwell space have nonetheless been rated as steady. The bodyshell of the Amaze is able to withstanding additional loadings.
Safety Features Offered With The Amaze
The security options on the Honda Amaze embody twin entrance airbags, ABS with EBD, rear parking sensors, and ISOFIX little one seat anchors. It can be essential to notice that Global NCAP hasn’t examined the up to date model of the Amaze which now additionally will get seat belt reminders for all seats. What additional led to the low security scores for the Amaze is the absence of digital stability management (ESC) and aspect curtain airbags.
Also Check Out: Watch: How To Achieve Effective Cooling On Your Car AC In Summers
Honda’s Take On Crash Test Results
Commenting on the crash take a look at outcomes, Honda stated, “The South Africa-spec second-generation Amaze has already been examined as 4 star by GNCAP in 2019. The newest take a look at foundation new protocol exhibits that the overall rating is of 5-star degree. However, primarily because of the requirement of sure tools like digital stability management and aspect curtain airbags, it resulted in decrease score.
At Honda, our unwavering dedication to security is clear within the meticulous engineering of our merchandise, integrating superior energetic and passive security applied sciences throughout our complete mannequin vary. We are devoted to repeatedly work to reinforce our autos on all parameters of security and enhance them additional at mannequin change timing.”
Price Range
The Honda Amaze in India is priced between Rs 7.20 lakh and Rs 9.96 lakh (ex-showroom Delhi). It takes on the likes of the Maruti Suzuki Dzire, Hyundai Aura, and Tata Tigor.
Read More on : Amaze on road price
Fiat primes new Panda-inspired household however 500 “will never die”
Leboine insisted, although, that regardless of taking affect from a century-old constructing and nodding closely to Fiat’s utilitarian heritage, the model shouldn’t be switching to a retro design language for its future vehicles.
He mentioned. “What we get from Lingotto is an everlasting modernity. I do not assume there’s something retro about what we have executed. I’m fairly snug with this.
“We use the past to tell a story, but actually the products we are doing are definitely modern and looking forward.”
The Panda idea, which serves because the halo for this new household, provides the perfect thought since 2019’s acclaimed Centoventi idea of what to anticipate from the third technology of Fiat’s supermini .
The newest idea marks a considerable departure from that earlier present automotive, which was notably lower-slung and extra rounded, however Leboine insisted that the “Centoventi is still in our mind”.
“The Centoventi is definitely embedded into these concepts,” he advised Autocar. “That was a great concept car that translated the strong philosophy of Fiat in terms of simplicity, affordability, flexibility – all these very smart and clever solutions that Fiat is very good at proposing.”
He defined that when the Centoventi was unveiled, Fiat didn’t have the mandatory assets to show it right into a manufacturing automotive, however having since turn out to be a part of the 14-brand Stellantis portfolio, the marque now has “other opportunities” to form the way forward for the Panda.
5 Of The Most Tuner-Friendly Ford Models Ever Built
Despite its cult standing, there are some dangerous issues to say concerning the Fox Body Mustang. The autos, which have been constructed between 1979 and 1993, rolled off the road throughout a darkish interval in American automotive manufacturing. Emissions guidelines, coupled with American engineering of the time, resulted in one of the crucial uninspiring ‘Stangs by way of efficiency. They’re additionally completely hideous, presenting like a coupe model of essentially the most common Eighties sedan you’ll be able to think about.
What you’ll be able to’t knock the Fox Body for is its tunability, nevertheless. Its uninspiring V8 engine may be become one thing really particular with a little bit of effort. The engine bay through which it sits is generously sized, so you’ll be able to work on it with out skinning your knuckles right down to the bone or pulling off some otherworldly contortions to succeed in an element. There’s additionally an enormous aftermarket for the Fox Body, so components are simple to come back by, and your decisions are extremely huge. All Mustangs are inherently tunable, however this is without doubt one of the most accessible of the lot. Turn it right into a dragster, a observe star, or a drift automobile, the one restrict is your creativeness and, in fact, native visitors legal guidelines.
Unfortunately, not the whole lot is because it was. The Fox Body Mustang was filth low-cost some time again, and you may see loads of tales of somebody nabbing one in respectable situation for below $1,000. Those days are lengthy gone, and will by no means return, however it’s nonetheless one of many cheaper used Mustangs available on the market both means.
What Is The Oldest Fighter Jet Still In Service?
Despite nonetheless working in a number of international locations, the MiG-21 is reaching the top of its service life. Aside from its growing older airframe, enhancements in radar monitoring, avionics, missile, and air protection applied sciences, in addition to developments in communication and knowledge, imply that this plane will quickly be (or already is) outclassed by newer jets.
India, the present largest operator, is within the strategy of retiring its MiG-21 fleet in favor of its homegrown HAL Tejas fighter. As India winds down its upkeep and restore necessities, different operators may quickly have bother protecting MiG-21s within the air, particularly if they can not discover suppliers to maintain the jets serviceable.
The MiG-21 has a colourful historical past, and it will likely be remembered as a favourite plane or a formidable opponent. Nevertheless, time and know-how proceed to march ahead, and its age will necessitate retirement.
Nevertheless, due to its ubiquity, you’ll be able to nonetheless discover the MiG-21 as a gate guard or as a monument. Some fans and collectors can even hold them of their personal fleets.
The Porsche V-8 Engine Will Continue Into the Next Decade
Downsizing could also be in full swing, however Porsche is not able to retire its V-8 simply but. Despite more and more stricter emissions rules, the engineers from Zuffenhausen are at all times one step forward. The eight-cylinder engine is already being tweaked to satisfy the Euro 7 commonplace, regardless that its implementation has been pushed again. It was supposed to come back into impact in 2025 however it’s been delayed to 2030.
In an interview with Australian journal Car Sales, Porsche Panamera mannequin line boss Thomas Freimuth revealed new elements are being developed to make the engine Euro 7 compliant: “We know this engine is ready for EU7, it’s no problem. We have to add some parts which are in development, so we are ready with this V-8 to go to the EU7 regulations.”
Porsche will not essentially must depend on a hybrid setup to maintain the V-8 alive because the Euro 7 commonplace will not be as strict as initially proposed. But different rules will power engineers to make some undesirable adjustments. Freimuth talked about the utmost exhaust noise degree permitted, which he believes will proceed to go down through the years. Tougher laws relating to noise ranges “makes it more complicated to get a good emotion to our Panamera V-8.”
Although the V-8 will reside to see the 2030s, we reckon Porsche will not be making that many vehicles with the twin-turbo 4.0-liter engine by the tip of the last decade. In the Annual and Sustainability Report 2023 revealed this month, the German automaker reiterated its projection of getting EVs account for greater than 80 p.c of annual deliveries by 2030. However, it did say reaching that aim relies upon “on the demand of our customers and the development of electromobility in the respective regions of the world.”
The EV onslaught began with the Taycan in 2019 and continued in early 2024 with the second-generation, electric-only Macan. The 718 Boxster/Cayman EVs are scheduled to come back out in 2025, seemingly with the convertible first and the coupe shortly after that. The successor to at present’s Cayenne has already been confirmed to be an EV, whereas that three-row large SUV can be going to skip gasoline engines.
The 911 will not get the totally electrical remedy this decade however a hybrid setup will debut in early summer season with the 992.2 refresh. Porsche hopes to maintain the ICE alive with near-carbon-neutral artificial gasoline, which it is at the moment producing in Chile. The aim is to scale up annual manufacturing to 145 million gallons by 2030.
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: |
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
Why Toyota Is Hellbent On Keeping The Hydrogen-powered Mirai Alive Despite Its Poor Sales
Summary
- Toyota is decided to promote 200,000 hydrogen-powered automobiles yearly by 2030, regardless of low gross sales and restricted infrastructure.
- Toyota is increasing its hydrogen portfolio with partnerships and plans to ascertain a Hydrogen Factory in Europe.
- Hydrogen-powered automobiles supply benefits akin to lowered weight, sooner refueling instances, greater payload capability, and adaptableness in numerous environments in comparison with electrical automobiles.
On paper, an FCEV (fuel-cell electrical car) makes use of an electrical motor similar to an everyday EV, however sources energy from a gas stack the place hydrogen is separated by a catalyst to generate electrical energy. This seemingly minor element marks an enormous hole between the 2 classes and is on the core of Toyota’s unorthodox method to decarbonization.
While EVs have grown at a speedy tempo over the past couple of years, the variety of hydrogen automobiles out there for buy may be counted on one hand. At the forefront of those FCEVs, we discover the Toyota Mirai, a mid-size sedan boasting a variety of 402 miles. Ever since its introduction in 2015, Toyota has sold only 14,105 copies of the Mirai within the United States, together with 2,737 examples in 2023, in keeping with CarFigures.
All in all, the Mirai isn’t a nasty automobile, and its lack of ability to draw prospects has extra to do with the present market circumstances than any dearth of options or attractiveness. As of 2023, there have been only 59 open retail hydrogen stations within the United States, most of them based mostly in California. On a worldwide scale, the shortage isn’t any much less daunting. There had been only 1,089 combined hydrogen stations across the globe by Q2 of 2023. Furthermore, hydrogen know-how is reasonably expensive too, which is why the Mirai comes at a not-so-cheap $49,500 MSRP.
Nonetheless, the Toyota stays undeterred by such components, and plans on forging forward with a wider array of hydrogen automobiles, with plans to attain 200,000 annual FCEV gross sales in the long term. This technique just isn’t restricted to the FCEV sedan, nevertheless, and expands to numerous different realms, as proven under.
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With the ever advancing motion in direction of a very sustainable transportation future, hydrogen has risen as a really viable different to batteries.
In order to provide the newest and correct data attainable, the info used to compile this text was sourced from Toyota and different authoritative sources, together with Reuters and the European Commission.
Toyota Is Looking To Increase Its Hydrogen Sales Exponentially
In 2023, the Toyota Mirai achieved a 31-percent year-over-year enhance in gross sales. Sounds good, proper? Well, that’s till you notice solely 2,737 copies had been purchased. These underwhelming outcomes haven’t deterred Toyota from pursuing its hydrogen ambitions, nevertheless. While Toyota has solely managed to promote 14,105 fashions of its solely hydrogen car within the final eight years, it stays nonetheless decided to promote 200,000 examples yearly by 2030.
“This may be a strange way of putting it, but 200,000 is not a big number,” explains Toyota’s Chief Technology Officer, Hiroki Nakajima. “We believe this number and more can be achieved.”
Since Toyota hasn’t given up on FCEV know-how, it solely is smart for the corporate to maintain its old-trusted sedan round. The longer the Mirai stays in the marketplace, the extra it could possibly pave the best way for future hydrogen automobiles to come back. This permits Toyota to evaluate suggestions from house owners, take a look at out the Mirai in actual life, and study from it. And, whereas the dearth of charging infrastructure may need hindered the Mirai’s business progress to date, current patent filings present that Toyota is planning on establishing a “Hydrogen Charging Network”, which might permit for at-home hydrogen fueling.
Although the FCEV enterprise is reasonably restricted now, Toyota said it expects the global market for fuel cells to grow to around $35 billion by 2030. More reasonable forecasts predict it to develop at round CAGR 25-percent from 2023 to 2032, which might quantity to $30 billion. These optimistic estimates are additional mirrored by the formidable tasks which are at present being laid out by the Japanese producer.
Related
Here’s Proof That Toyota Still Believes EVs Won’t Dominate The Future
According to Toyota Chairman Akio Toyoda, ICE-powered vehicles are right here to remain, and EVs will solely contribute a small share of world gross sales.
Hydrogen Trucks: Toyota’s Attempt At Reshaping The Industry
While electrical vehicles have already began changing their typical counterparts in nations akin to Sweden, heavy-duty EVs (particularly semi-trucks) are nonetheless far behind their gas-powered equivalents by way of each market and effectiveness. For that purpose, some events have began trying into hydrogen vans, and vans in its place. Naturally, Toyota can also be on the forefront of this motion.
FCEV Tanks Boast A Superior Range
In 2023, the corporate’s North American department introduced the enlargement of its partnership with PACCAR to develop hydrogen-powered Kenworth and Peterbilt vans. The two fashions in query are the Kenworth T680 and the Peterbilt 579. Both of those vans have already got all-electric variations in the marketplace, although with a limited range of 150 miles.
The FCEV variants however, will function Toyota’s newest hydrogen know-how, which reportedly translated into 300 miles of vary on the Kenworth T680 again in 2023. The upcoming variations are expected to get closer to 400 miles, and presumably even exceed it with larger gas tanks. In any case, we will quickly discover out, since buyer deliveries are deliberate for 2024. Last 12 months, Toyota also partnered up with VDL Groep to launch their first FCEV demonstration vans, as a part of the corporate’s ambition ambition to decarbonize its European logistics operations.
Toyota Might Be On To Something
While you may be tempted to criticize Toyota’s technique (or lack thereof) with regards to EVs, it is received many good causes to proceed investing in hydrogen-powered automobiles:
- Reduced weight: Although hydrogen-powered automobiles are heavier than diesel-powered ones, they’re significantly lighter than battery-powered automobiles.
- Faster refueling instances: According to Toyota, its hydrogen gas tank may be refueled in 15 to twenty minutes. In distinction, the Tesla SEMI, which is the fastest-charging big-rig within the e-segment, wants 90 minutes to go from 10 to one hundred pc.
- Faster deliveries: Since hydrogen vans want much less time to refuel, and might spend extra time on the street on a single tank, they’re extra more likely to respect and keep a packed schedule.
- Higher payload and towing capability: Electric powertrains are inclined to lose a substantial quantity of vary beneath duress, which is one thing Toyota intends to repair by implementing hydrogen into the combination.
- Higher adaptability: Electric automobiles can lose a substantial quantity of vary beneath wintry circumstances, making them much less appropriate with completely different environments.
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How Hydrogen Combustion Engines Will Challenge The EV Market At Its Core
Hydrogen combustion engines problem EVs with speedy refueling, longer vary, and broader sustainability.
Hydrogen Isn’t A Lost Cause Just Yet
You’ve guessed it now, Toyota is not putting all of its eggs in the same basket, and the Mirai is way from being its final attempt. On high of diversifying its portfolio, the legacy automaker has additionally been securing partnerships with different automakers, and increasing its geographical horizons.
Europe: The Next Meccah Of H2
Toyota is notably planning to ascertain the Hydrogen Factory in Europe, to provide “an increasing number of fuel cell systems and support a widening group of commercial partnerships.”
The resolution to open an H2 facility within the previous continent is a strategic one. Toyota expects Europe to grow to be a number one drive within the world FCEV market by the start of the subsequent decade, as rising investments and political incentives pile up. The EU’s transport infrastructure fund has notably awarded €284 million (round one-third of its price range) for the set up of hydrogen stations, which ought to assist clear up the present infrastructure challenge to some extent. To up the ante a bit, the European Commission’s Green Deal is also set to invest €45 billion by 2027.
Toyota’s Other Hydrogen Projects
While the Mirai is the one manufacturing FCEV launched by Toyota to date, the Japanese carmaker has fairly a number of H2 tasks on its resumé. Engineers have not been sitting idle precisely, and to date, Toyota’s fuel-cell panoply notably consists of:
- A Corolla Cross H2 Concept, powered by a 1.6-liter turbocharged three-cylinder, transformed to utilizing hydrogen as gas.
- An FCEV Toyota Crown constructed on a newly developed 2.5-liter multi-stage hybrid system, providing 509 miles of vary per three-minute hydrogen refill.
- A hydrogen-fueled V-8 engine, co-developed with Yamaha, concentrating on 455 horsepower at 6,800 rpm and 398 pound-feet of torque at 3,600 rpm.
- A hydrogen-fueled Hilux prototype, with 372 miles of vary, which targets a better towing and payload capability than EV vans.
- A hydrogen-powered GR Yaris, which was pushed by famend actor Rowan Atkinson on the 2023 Goodwood Festival of Speed.
What’s The Difference Between A Drivetrain And A Powertrain?
Despite the time period “drivetrain” sounding like a singular factor, it is really a special grouping of parts (and there is some overlap) — the transmission, differential, driveshaft, axles, and wheels. However, one other half we have not touched on but that additionally belongs to the drivetrain is the Constant Velocity (CV) joints. These CV joints sit at every finish of the drive shaft and never solely join the wheels to the axles (and transmission) however switch torque to them as nicely.
So, what did not we listing that we have already mentioned? The engine. The motor is part of the powertrain however not part of the drivetrain.
In essence, the drivetrain is simply part of the general powertrain, however the motor is — dare we are saying — the pinnacle of the practice, and with out it, nothing else down the road works. Therefore, all the opposite elements of the drivetrain mix to make up the powertrain, which, as a unit, “transforms kinetic energy into propulsion motion,” says authorized auto dealer Maxwell Ford.
Think of the powertrain because the all-encompassing umbrella time period that features all the transferring elements whereas the engine and the drivetrain sit fortunately beneath. But wait! What about electrical vehicles? While they’ve each a powertrain and a drivetrain, they differ from autos with inside combustion engines as a result of most EVs haven’t got multi-speed transmissions. That, nonetheless, is a subject for one more time.
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