These innovations will be making their debut in the NEUE KLASSE very soon. The first vehicles are currently completing
test drives under
extreme conditions. Series production will then ramp up in the second half of
2025 at the high-volume core of the BMW brand, with a
Sports Activity Vehicle that is previewed in the BMW Vision Neue Klasse X. This will be followed by a
sedan in the current 3 Series segment, which the BMW Vision Neue Klasse provided an initial glimpse of at the IAA MOBILITY. We intend to launch a total of
at least six NEUE KLASSE models across the BMW Group’s global production network within the first
24 months of the start of production.
The NEUE KLASSE will be launched in 2025 at the new
BMW Group Plant Debrecen (Hungary), which will exclusively produce vehicles for the NEUE KLASSE. From
2026 onwards, NEUE KLASSE models will also be built at the more than 100-year-old
main plant in Munich, which is currently completing the necessary preparations to transition to
BEV-only production from
2027. In the same year, series production of the NEUE KLASSE will begin at
Plant San Luis Potosí (Mexico), while the production site in
Shenyang (China) is also gearing up for production of the NEUE KLASSE.
The
pre-tax earnings of
€ 17,096 million reflect a corresponding base effect: In the prior year, the revaluation of previously held shares in BBA of € 7.7 billion had significantly increased the BMW Group's financial result and Group earnings. In the absence of this effect,
pre-tax earnings (-27.3%) and
Group net profit (-34.5%) for 2023 were significantly lower than the previous year. Without the one-time revaluation effect referred to, Group net profit for 2023 would have been solidly higher year-on-year.
In the
Automotive Segment,
earnings before financial result (
EBIT) increased significantly to
€ 12,981 million (+
22.1%). Tailwinds came from the full consolidation of BBA, as well as sales growth and an improved product mix. This was offset by headwinds from research and development spending, as well as higher material costs. The
EBIT margin for this period was
9.8% (2022: 8.6%). Excluding depreciation and amortisation for BBA assets from the purchase price allocation of € 1.4 billion previously referred to, the EBIT margin was
10.8%.
The BMW Group's
capital expenditure amounted to
€ 8,836 million (+8.5%) in 2023. Substantial expenditure was channelled into the electrification and autonomous driving modules, setting up high-voltage battery production in various markets and plant construction in Debrecen, Hungary.
Group research and development expenses totalled
€ 7,538 million (
+13.8%). In addition to development expenses for the future models of the NEUE KLASSE, R&D spending was primarily focused on further electrification and digitalisation of the vehicle portfolio and automated driving.
+++ Automotive EBIT significantly higher in 2023 +++ EBIT margin of 8-10% forecast for 2024 +++ Capital expenditure to peak in 2024, as planned +++ NEUE KLASSE in the starting blocks: Testing already underway +++ BMW Vision Neue Klasse X highlights broad spectrum: NEUE KLASSE offers customers...
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