BMW Group, the automotive group comprising BMW, MINI, and Rolls-Royce, recently released its financial report for the first half of the year. Despite facing challenges in recent months, particularly due to the global pandemic and geopolitical factors, the company’s electric segment has shown remarkable growth. Although the group witnessed a 13.4% decrease in deliveries in the first half of 2022, it managed to achieve solid growth. The company recorded a revenue of €65.9 million (+19.1%) in the first six months, resulting in a pre-tax profit increase of 65.9%, surpassing €16 million. These positive results can be attributed to operational changes and significant investments, including the integration of the Chinese subsidiary BBA, which contributed €11 billion in revenue to the group. Additionally, BMW Group acquired its long-time collaborator Alpina in March of this year.
Despite these achievements, BMW Group experienced a 13.4% decrease in deliveries, amounting to 1.16 billion vehicles sold. This decline can be primarily attributed to a nearly 10% decrease in production. The individual brands within the group, BMW and MINI, faced volume sales decreases of 13.7% and 10.9% respectively. Remarkably, the only brand that witnessed an increase in deliveries was Rolls-Royce, with a 6.8% growth, selling nearly 3,200 cars. These figures reflect the exceptional performance of the luxury brand in 2021.
The company’s BMW and MINI brands saw increased demand for electric and hybrid vehicles. Sales of these carbon emission-free cars witnessed a substantial increase of over 110% in volume, with 75,890 units sold. Consequently, the electric segment accounted for 15.9% of the total sales in the first half of the year, reflecting a 39.5% increase compared to the previous year.
In line with the industry trends and European regulations, Rolls-Royce is gearing up to introduce its very first electric model, named Spectre. Although the coupe has been undergoing testing since the beginning of 2022, it is expected to be available for sale in 2023. Rolls-Royce’s aim is to join its competitors, Bentley and Lamborghini, in the race for electric-only vehicles and to transform into a 100% electric brand by 2030. This goal is driven by the growing demand for sustainable transportation and is influenced by the “Ferrari Amendment,” a European law advocating for stricter emission regulations.
Useful links:
1. BMW Group Official Website
2. Rolls-Royce Motor Cars Official Website
