📌 𝐖𝐢𝐜𝐡𝐭𝐢𝐠𝐬𝐭𝐞 𝐏𝐮𝐧𝐤𝐭𝐞
• A weaker Chinese auto market and increasing competitive pressure are weighing on operating performance
• The impact of the Middle East conflict is lasting longer than expected, driving up costs and causing consumer reluctance
• Additional structural and efficiency measures will result in one-time charges in the second half of 2026
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🎯 𝐀𝐮𝐬𝐛𝐥𝐢𝐜𝐤
• Vehicle deliveries: slight decline expected (previously at prior-year level)
• Automotive EBIT margin: 1–3% (previously 4–6%)
• Automotive RoCE: 1–5% (previously 6–10%)
• Earnings before taxes: significant decline expected (previously moderate decline)
• Automotive free cash flow still expected to exceed €2.5B
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💬 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭
• “We have strong product momentum with the NEW CLASS and will bring the strongest BMW portfolio in history to the road over the next two years.”
• “At the same time, we will adapt our structures and processes to the drastically tougher market conditions. It’s all about speed and efficiency.”
