In the face of mounting geopolitical tensions and a volatile global market, the BMW Group has reported a steady performance in the first quarter of 2025, marked by strong electric vehicle (EV) sales and disciplined cost management.
Walter Mertl, Member of the Board of Management of BMW AG for Finance, announced during the quarterly earnings call that the Group posted earnings before tax (EBT) of over €3.1 billion on revenues of €33.8 billion, resulting in an EBT margin of 9.2%.
The Automotive segment’s EBIT margin stood at 6.9%, aligning with the upper end of the company’s annual guidance range. Excluding BBA depreciation effects, this figure rose to 8.1%.
Despite a slight 1.4% year-on-year decline in global retail sales, BMW delivered over 586,000 vehicles across its BMW, MINI, and Rolls-Royce brands. MINI sales grew by 4.1%, offsetting a 2% dip in BMW brand deliveries.
A key highlight was the surge in all-electric vehicle (BEV) sales, which jumped by 32.4% year-on-year to nearly 110,000 units, comprising 18.7% of total deliveries. Combined sales of BEVs and plug-in hybrids accounted for 27% of total vehicle sales, reinforcing BMW’s commitment to its electrification strategy.
Sales in Europe increased by 6.2%, with EV sales soaring 64.2% in the region. The US market also saw a 4% increase, while sales in China declined due to ongoing model transitions and dealer challenges.
Mertl emphasized cost discipline, noting that both R&D and administrative expenses declined by €200 million each compared to Q1 2024. Free cash flow in the Automotive segment amounted to €400 million, impacted by seasonally higher inventories and capital expenditure related to 2024’s capex peak.
BMW maintained strong financial resilience with automotive net financial assets at €45.5 billion. The company concluded a €4 billion share buyback program and proposed a new five-year treasury share acquisition plan at the upcoming AGM.
Looking ahead, BMW reaffirmed its full-year guidance despite increasing global tariffs and economic uncertainty. The Group anticipates stable earnings, slight growth in vehicle deliveries, and an Automotive EBIT margin between 5–7%.
“Our strategy remains intact, and our results reflect the success of disciplined spending and a balanced global footprint,” said Mertl. “We are well-positioned to meet our financial and sustainability goals for 2025.”
