BMW Group continues to maintain a successful course of profitable growth in a volatile business environment. In the third quarter of 2023, the company saw a solid increase in sales, delivering a total of 621,699 premium automobiles. The nine-month period saw a total of 1,836,563 units delivered. This growth was accompanied by a strong financial performance, with an EBT margin of 11.9% for the first nine months.

The company is on track to deliver an EBIT margin in the Automotive Segment of between 9-10.5% for the full year, driven by higher-priced models and fully-electric vehicles. Battery-electric vehicles accounted for 15.1% of total sales by the third quarter, already meeting the 15% target planned for the full year. Over the nine-month period, the percentage of BEVs climbed to 13.4%.

The growth trend for BMW continued in many of the world’s automotive markets, with notable growth in Germany, the US, and Europe. The fourth quarter is expected to further boost growth with the launch of new models.

Group revenues increased slightly in the third quarter to €38,458 million, with significant growth in the year to the end of September to €112,530 million. The Group’s research and development spending also increased to €5,223 million.

The BMW Group confirms its guidance for the rest of the year and expects stable business development. The Group forecasts overall growth for global automotive markets, particularly in Europe and the US. The BMW Group remains committed to long-term, profitable growth and is focused on digitalization, electrification, and innovation in the industry.