The BMW Group has officially announced its achievements for the financial year 2023. Throughout 2023, BMW Group reported a notable increase in vehicle deliveries, totaling 2,554,183 units, marking a 6.4% rise from the previous year. This surge was particularly evident in the fourth quarter, with deliveries reaching 717,620 units, up by 10.1% compared to the same period in 2022. This achievement has enhanced the BMW’s market share to 3.3%.
Electrification Drive Powers BMW Group’s Sustained Financial Success
A significant driver of growth for the company in 2023 was the appeal of its fully-electric vehicles. A total of 375,716 fully-electric cars were delivered, marking a remarkable 74.1% increase from 2022, and constituting around 15% of the total sales. Inclusive of Plug-in Hybrid Electric Vehicles (PHEVs), the Group sold 565,875 electrified vehicles, achieving a 22% sales share.
The BMW Group’s revenue saw a solid increase, reaching €155,498 million, up by 9.0% from the previous year, with a portion of this growth attributed to the full-year inclusion of revenues from BMW Brilliance Automotive Ltd. (BBA), alongside higher sales volumes and positive product mix effects.
BMW’s Strategic Investments In Technological Advancements
Research and development expenses hit a new high at €7,538 million, emphasizing the company’s investment in electrification, digitalization, and autonomous driving technologies. Likewise, capital expenditure rose to €8,836 million, reflecting substantial investments in electrification and autonomous driving modules. In terms of earnings, the Group’s EBIT for the full year increased significantly to €18,482 million, showcasing strong operational performance. Despite a decline in pre-tax earnings (EBT) to €17,096 million, primarily due to a negative financial result from fair value adjustments, the company maintained an EBT margin of 11.0%.
The Automotive Segment, in particular, experienced a significant boost in EBIT, amounting to €12,981 million, up by 22.1% from the previous year, driven by higher sales volumes, favorable product mix, and the full-year inclusion of BBA results. The BMW Group has also made significant strides in reducing CO2 emissions, with its European fleet emitting 102.1 grams per kilometre of CO2, well below the European Union’s target of 128.5 grams per kilometer.
