Munich, July 31, 2025 – The BMW Group has delivered a resilient financial and operational performance in the first half of 2025, underscoring the strength of its globally integrated business model and diversified product strategy. With earnings before tax (EBT) reaching €5.7 billion and a Group EBT margin of 8.5%, the premium automaker remains firmly on course to meet its full-year guidance, despite external pressures such as currency translation effects and tariff increases.
Automotive free cash flow stood at €2.35 billion for the period ending June 2025, with the Automotive Segment reporting an EBIT margin of 6.2%—well within its annual guidance range of 5.0% to 7.0%. Group revenues totaled €67.7 billion, down 8.0% year-on-year, largely due to foreign exchange impacts and softer revenues from the Chinese market.
Strong Demand for Electrified and High-Performance Models
Electrified vehicles continued to drive sales momentum, with plug-in hybrid and fully electric models accounting for over a quarter of all BMW Group deliveries. In total, 319,031 electrified vehicles were sold in the first six months, up 18.6% from the same period last year. Europe posted the highest growth in electrified sales at +34.8%.
BMW M GmbH set a new record, delivering nearly 106,000 vehicles (+6.5%), making it the strongest half-year ever for the high-performance division. Notably, models like the M3, M3 Touring, and the newly launched M5 Touring contributed significantly to the result.
Oliver Zipse, Chairman of the Board of Management of BMW AG, reaffirmed the company’s forward-looking strategy:
“Our performance in the first half of 2025 underscores the robustness of our business model. In September, we enter a new era with the debut of the NEUE KLASSE at IAA Mobility. With more than 40 new and revised models planned through 2027, including the BMW iX3, we are embarking on an unprecedented product ramp-up that merges innovation with economic efficiency.”
MINI Electrifies Its Momentum
MINI achieved standout growth of 17.4% in the first half of 2025, delivering 133,838 vehicles worldwide. A major driver of this surge was the increasing uptake of its battery-electric models, including the MINI Cooper Electric, Aceman Electric, and Countryman Electric. These BEVs accounted for 34.3% of all MINI sales, reflecting strong consumer interest in urban-oriented electric mobility.
Regional Sales Performance Highlights
- Europe: Sales rose by 8.2% to 498,670 units.
- Americas: A modest 3.4% increase, with 237,972 vehicles sold.
- USA: Sales up 2.7% year-on-year to 193,826 units.
- China: Delivery figures not explicitly provided, but subdued revenues suggest softer performance.
Outside China, BMW saw positive growth across all regions.
Rolls-Royce Steady, BMW Motorrad Sees Margins Rise
Rolls-Royce Motor Cars delivered 2,796 vehicles, a slight 0.8% dip year-on-year. However, the second quarter saw a 9.4% increase compared to Q2 2024, signaling stability at the ultra-luxury end of the market.
BMW Motorrad, meanwhile, delivered 105,909 motorcycles (-6.3%) but achieved an EBIT margin of 12.0%, up from 11.6% a year ago, highlighting improved profitability despite lower volumes.
Financial Services: Growth in Leasing, Margins Under Pressure
BMW Group Financial Services recorded dynamic leasing activity, with a 9.5% rise in new leasing volumes and a 2.5 percentage-point increase in the leasing and financing penetration rate (to 43.7%). Despite this, segment EBT fell 19.5% to €1.19 billion, primarily due to lower resale values of end-of-lease vehicles and higher provisions.
The credit loss ratio remained low at 0.27%, reflecting prudent portfolio management.
Managing Through Macro Headwinds
While pre-tax earnings declined 28.6% compared to HY1 2024, the Group’s financial discipline has helped offset the impact of currency pressures, increased tariffs, and strategic investment outlays. R&D expenditure fell slightly to €4.02 billion, with efforts focused on digitalisation and the electrification of all product lines. Capital expenditure also decreased significantly by 20.8% year-on-year, improving the Group’s cash flow position.
Tariff impacts were particularly felt in the Automotive Segment, reducing EBIT margins by approximately 1.5 percentage points. However, mitigations such as BMW’s production footprint in the US helped cushion the blow, especially amid ongoing US-EU trade negotiations that may ease tariff burdens later in 2025.
“Even despite higher tariffs, our business model remains intact,” said Walter Mertl, CFO of BMW AG. “Precise financial control and optimised cost structures ensure we are well-positioned to achieve our full-year targets.”
Guidance Confirmed for 2025
The BMW Group has reaffirmed its outlook for the full year, expecting:
- Slight sales growth, particularly in electrified vehicles
- Automotive EBIT margin between 5.0% and 7.0%
- Group EBT on par with 2024
- Motorcycles EBIT margin between 5.5% and 7.5%
- Financial Services RoE between 13% and 16%
- Group RoCE between 9% and 13%
Despite global uncertainties, the Group remains confident in achieving a full-year Automotive Segment free cash flow of over €5 billion.
A Transformative Future: NEUE KLASSE Beckons
Looking ahead, BMW’s NEUE KLASSE platform represents a cornerstone of its transition into the next era of premium mobility. With the BMW iX3 set to debut in September at IAA Mobility, and a sweeping product offensive to follow, the company is reaffirming its commitment to innovation, flexibility, and customer choice—whether combustion, hybrid, or fully electric.
This strategic foresight, coupled with operational resilience and premium brand equity, keeps BMW firmly in the driver’s seat as the industry navigates structural change and geopolitical complexity.
