The BMW Group Report 2024 showcases a year of significant transformation, highlighting the company's commitment to electric mobility, digitalization, and sustainability. Despite global economic challenges, BMW retained its top position in the premium automotive segment, with a strong focus on future technologies such as the NEUE KLASSE and advancements in electric vehicles (EVs).
Financial Performance Overview
The financial year 2024 was marked by a decline in profit before tax, reflecting broader economic uncertainties and investment in future-oriented mobility solutions.
Profit before tax (PBT): €10,971 million (-35.8% YoY)
Profit after tax (PAT): €7,678 million (-36.9% YoY)
EBIT Margin (Automotive Segment): 6.3%
Return on Equity (Financial Services): 15.1%
Total Employees: 159,104 (slight increase)
Total Car Deliveries: 2,450,854 (-4% YoY)
All-Electric Cars Share in Deliveries: 17.4% (+18.4% YoY)
The increase in electric vehicle sales reflects BMW’s strong push toward sustainable mobility.
BMW’s Push for Electric and Sustainable Mobility
BMW’s transition toward electric and digital mobility is at the core of its long-term strategic goals. The company aims for >50% of total deliveries to be all-electric by 2030. The NEUE KLASSE, BMW’s next-generation vehicle architecture, is expected to drive this transformation.
Additionally, BMW is aggressively reducing CO2 emissions, with the following targets:
Scope 1 & 2 Emission Reduction: >0.5 million tons
Scope 3 (Supply Chain & Use Phase) Emission Reduction: >40 million tons
Women in Management Positions: Target of 23-25% by 2030
These sustainability measures align with global efforts to create a circular economy, where materials are reused, and production becomes more energy efficient.
Challenges and Market Outlook
The global automotive industry faces challenges like geopolitical uncertainties, inflation, and changing consumer preferences. However, BMW remains committed to:
1)Strengthening battery technology and charging infrastructure.
2)Expanding its hydrogen fuel cell technology research.
3)Leveraging digitalization, AI, and autonomous driving.
BMW’s approach to maintaining a flexible drivetrain strategy (offering electric, hybrid, and combustion engines) gives it a competitive advantage in evolving markets.The BMW Group Report 2024 highlights resilience, innovation, and sustainability in a rapidly changing automotive landscape. Despite short-term profitability challenges, BMW’s investments in electric and digital mobility set the stage for long-term growth and leadership in the industry.
Disclaimer
This article is based on the official BMW Group Report 2024. The information provided is for informational purposes only and should not be considered financial advice. Readers are encouraged to refer to the full report for a comprehensive understanding.
