BMW Group Financial Report: BMW Group's revenue in 2024 is 142.38 billion euros, down 8.4% year-on-year

Recently, the BMW Group released its 2024 and Q4 financial report.

Data shows that in 2024, BMW Group's revenue will be 142.38 billion euros, a year-on-year decline of 8.4%; earnings before interest and taxes will drop from 17.096 billion euros in 2023 to 10.971 billion euros (about 86.1 billion yuan), a year-on-year decline of 39.2%;

In addition, the BMW Group's profit margin also fell from 11.0% to 7.7%. BMW said that its operating performance in the second half of 2024 was affected by weak demand in the Chinese market and the suspension of deliveries related to the integrated braking system (IBS).

In terms of delivery, BMW Group's sales in 2024 were 2.451 million vehicles, down 4% year-on-year. Among them, BMW brand sales were 2.200 million vehicles, down 2% year-on-year, MINI brand sales were 245,000 vehicles, down 17% year-on-year, and Rolls-Royce brand sales were 5,712 vehicles, down 5.3% year-on-year.

By region, BMW delivered 948,500 vehicles in Europe in 2024, a slight increase from 943,000 vehicles in 2023; 482,700 vehicles were delivered to the US market, basically the same as last year.

As the BMW Group's largest single market, China's BMW sales in 2024 were 715,200 vehicles, a year-on-year decrease of 13.4%, making it the market with the largest sales decline for BMW.

In fact, not only BMW, but also Audi and Mercedes-Benz saw a sharp drop in sales in China last year. Among them, Mercedes-Benz's sales in China decreased by 7%, and Audi's sales in China fell by 11%. However, BMW had the largest drop in the BBA luxury car camp.