BMW Group's Q2 2024 Performance Sales, Revenue, and Electric Vehicle Progress

TapTechNews August 1st news, BMW Group released its Q2 2024 performance report today.

Data shows that BMW's Q2 sales were 36.94 billion euros, a 0.7% year-on-year decrease, among which the revenue of the automotive department in the second quarter was 32.07 billion euros, a 1.4% year-on-year increase. The second quarter EBIT was 3.88 billion euros, a 10.7% year-on-year decrease. The second quarter delivery volume was 618,743 vehicles, a 1.3% year-on-year decrease.

In addition, in the first half of the year, BMW Group delivered a total of 1,213,276 BMW, MINI and Rolls-Royce brand vehicles in the global market, which was roughly the same as in 2023.

The BMW brand sold 1,096,423 vehicles in the first half of the year, a 2.3% year-on-year increase. Among them, the global delivery of BMW brand pure electric vehicles was nearly 180,000 (179,500), a 34% year-on-year increase.

Oliver Zipse, Chairman of the BMW Group, said: The global market in the first half of the year was full of challenges, but we are still making continuous progress in the field of electrification and have achieved that financial indicators remain within the target range for ten consecutive quarters. In the first half of the year, the total revenue of the automotive business of the BMW Group exceeded 63 billion euros, which was basically the same as that of the same period last year.

Regarding the annual performance forecast, the BMW Group disclosed that although the annual sales volume may increase slightly, due to the production cost and R & D expenditure being higher than in 2023, it is expected that the annual pre-tax profit of the group will decrease slightly.