Investor Relations

Investor Relations.

+++ No suspicion of unlawful defeat devices against BMW Group +++ European Commission enters uncharted territory for antitrust law +++ Settlement agreed after most allegations dropped +++ Applying for leniency was not an option for the BMW Group +++ Talks had no influence on company's product decisions and therefore did not disadvantage customers at all +++ BMW Group took own approach to exhaust gas treatment from the start +++


Munich. After reviewing an extensive statement submitted by the BMW Group, the European Commission has dropped most of its charges of antitrust violations. With the withdrawal of most of the original allegations, the Board of Management of BMW AG has agreed to a settlement proposed by the European Commission that will bring these proceedings to an end.

No suspicion of unlawful defeat devices against the BMW Group
The following aspect is particularly important to the BMW Group: The European Commission has once again confirmed that the investigation concluded with this settlement solely concerned possible infringements of competition law. The fine notice issued by the European Commission also states that there is no indication of collusion between the parties relating to the use of prohibited defeat devices to manipulate exhaust gas tests. This underlines that there has never been any allegation of unlawful manipulation of emission control systems by the BMW Group.

Unlike some of its competitors, the BMW Group never considered reduced, illegal emission control.


+++ BMW Group sales +39.1 percent higher year-on-year; 1,339,080 vehicles sold in first six months +++ Sales up +7.1 percent from pre-crisis year 2019 +++ Sales increase for all brands and regions +++ Deliveries of electrified vehicles more than doubled (153,267 vehicles, +148.5%) +++ Pieter Nota: “Strong sales for first half-year – continuing on growth track with decisive expansion of electrification” +++


Munich. With a total of 1,339,080 BMW, MINI and Rolls-Royce vehicles (+39.1%) delivered to customers, the BMW Group ended the first half of 2021 with a new all-time high in sales. All brands reported higher sales for the first six months of the year and, during the same period, the company grew its sales in all regions of the world. BMW Group sales for the first half-year were also clearly higher than in the pre-crisis year 2019, with an increase of +7.1 percent.

“We are on course to achieve solid, profitable sales growth,” said Pieter Nota, member of the Board of Management of BMW AG responsible for Customer, Brands and Sales. “Thanks to our strong model line-up, high customer demand worldwide and our excellent operating performance, we were able to achieve a new all-time high in sales in the first half of 2021. It is particularly pleasing that we were able to more than double our sales of electrified vehicles,” continued Nota.


+++ Highest standards of flexibility: All drive train variants on one line +++ Successful transformation of BMW Group plants towards e-mobility and digitalisation +++ Half of Dingolfing's production volume will be electrified by mid-decade +++ Nedeljković: “setting ourselves ambitious goals for the most sustainable production” +++


Dingolfing. Standard production of the fully-electric BMW iX* began today in Dingolfing. The plant in Lower Bavaria now produces vehicles with all drive train variants, i.e. combustion-engine vehicles, plug-in hybrids and fully-electric models, on a single line. Milan Nedeljković, member of the Board of Management of BMW AG, responsible for Production: “The launch of the BMW iX* marks another milestone in our expansion of electrification and demonstrates our production network's successful transformation towards electromobility and digitalisation.”

The BMW iX* is being manufactured at the BMW Group’s largest European production plant on an assembly line with the flexibility to build a mix of BMW 5 Series, 7 Series and 8 Series models. To handle this flexibility and variety of drive trains, vehicle assembly in Dingolfing has been expanded and refurbished. The BMW Group has invested a total of more than 400 million euros in producing the BMW iX* at the Dingolfing vehicle plant. Many of the remodelling and structural measures required for the BMW iX* are already benefiting future generations of the BMW 7 Series and 5 Series that will come off the production line in Dingolfing in the coming years. Fully-electric variants have also been announced for both model ranges.


*Fuel consumption/emissions data: 
BMW iX xDrive40: Power consumption in kWh/100 km: 22.5-19.4 (WLTP); CO2 emissions combined: 0 g/km
BMW iX xDrive50: Power consumption in kWh/100 km: 23.0-19.8 (WLTP); CO2 emissions combined: 0 g/km
BMW i4 eDrive40: Power consumption in kWh/100 km: 20-16 (WLTP); CO2 emissions combined: 0 g/km


Why invest in BMW?

FIRST-CLASS INDIVIDUAL MOBILITY – We play a pioneering role in setting standards for the individual premium mobility of tomorrow. It combines pleasure and responsibility without compromise.

SUSTAINABILITY – The BMW Group is a holistically sustainable company taking responsibility for sustainable future mobility. Every investment in BMW is a sustainable investment.

INNOVATION & FLEXIBILITY – The BMW Group is an innovation pioneer in the automotive industry. Our business model is based on constant transformation and flexibility – successful for over 100 years.

ELECTRIFICATION – Due to our flexibility and permanently transformed plants, we will have a convincing battery-electric vehicle offer covering 90% of our current market segments from 2023.

DIGITALIZATION – We set standards in the digitalization and connectivity of our vehicles and use our competitive edge in remote software upgrades.

FINANCIAL PERFORMANCE – We offer financial stability due to our strong balance sheet and industry-leading credit ratings*. We set ambitious profitability and cash flow targets and are a reliable dividend payer.

*Best credit rating in Europe, second best credit rating worldwide

Deliveries to customers BMW, MINI & Rolls-Royce.
In connection with a review of its sales and related disclosure practices, the BMW Group reviewed its sales figures for deliveries and determined that certain deliveries were not reported for the correct time periods. The BMW Group has revised the data for deliveries retrospectively for the previous years. Further information can be found in the BMW Group Report 2020 on page 128 f.

BMW Group Sales Distribution in major regions.
Sales Volume of Automobiles as of 31 March 2021.


In g CO2 / km;
EU including Norway and Island.
Since 2018, adjusted value based on conversion to WLTP (Worldwide Harmonised Light Vehicles Test Procedure) and recalculated to New European Driving Cycle (NEDC).
* Value (internal calculation) takes into account the flexibilities defined in the regulatory requirements: phase-in with 5 g / km, supercredits BEV / PHEV with 7.5 g / km and eco-innovations with 2.4 g / km.

CO2 EMISSIONS New car fleet Europe.


BMW Group.

  • Profit before tax: significant increase
  • Workforce size at year-end: slight decrease
  • Share of women in management positions in the BMW Group: slight increase


  • Deliveries to customers: solid increase
  • EBIT margin: between 8 and 10%
  • Return on capital employed2: significant increase


  • Deliveries to customers: solid increase
  • Share of electrified vehicles in deliveries: significant increase
  • CO2 emissions new vehicle fleet EU1: significant decrease
  • CO2 emissions per vehicle produced: moderate decrease
  • EBIT margin: between 7 and 9%3
  • Return on capital employed2: significant increase


  • Return on equity (RoE): between 12 and 15%

Based on adjusted values; for a definition of the forecast ranges, see the glossary BMW Group Report 2020.
EU including Norway and Iceland.
2 Unlike the other key performance indicators, the RoCE forecast for the Automotive and Motorcycles segments is based on the change in percentage points.
Including an increase of the corridor of 6-8% by around one percentage point due to the revaluation of the provision for the ongoing EU antitrust proceedings. 


Due to the continuing uncertainty surrounding the course and potential consequences of the pandemic going forward, it is difficult to make an accurate forecast of the BMW Group’s business performance in 2021.