BMW expects higher margin and deliveries in 2023 amid electric rollout
Publishing timestamp: 2023-03-15 05:27:11
Summary
BMW has set targets to increase margins for its automotive segment and raise deliveries this year, with an anticipated EBIT margin of between 8-10% for its automotive range in 2023. The company is pushing ahead with the rollout of its battery-electric fleet and expects to surpass a 50% BEV share ahead of 2030. BMW plans to deliver 2 million fully electric vehicles by 2025 and over 10 million such units by 2030. The company confirmed full-year 2022 results reported last week, including EBIT of 10.6 billion euros ($11.4 billion) for its automotive segment, which had an 8.6% margin last year. Shares of BMW rose by 1.07% following the announcement.
Sentiment: NEUTRAL
Tickers: BMW-DE,
Keywords: autos, business news, earnings, bayerische motoren werke ag,