The BMW Group expects its advanced electric vehicles, such as the BMW i7 sedan and Rolls Royce Spectre, to be profitable this year. This forecast is particularly significant amid the global slowdown in electric vehicle demand.
The company anticipates that its core automotive division's operating profit margin will range from 8% to 10%, aligning with its long-term goals, compared to a margin of 9.8% announced in 2023.
CEO Oliver Zipse stated, “We are seeing slight growth in major markets in North America, China, and Europe this year. We are very optimistic, especially regarding luxury electric vehicles.”
The company also expects that total deliveries of its main brands, BMW, Mini, and Rolls Royce, will be slightly higher than in 2023.
BMW is outpacing its luxury competitors in the transition to electric vehicles, which now account for nearly 15% of its total sales. The company aims to further enhance this share with sales of half a million electric vehicles this year, benefitting from 15 fully electric models across its lineup.
