Core Insights - BMW Group reported a total of 588,300 vehicle deliveries in Q3 2025, representing an 8.8% increase year-over-year [1] - Cumulative deliveries for BMW, MINI, and Rolls-Royce reached approximately 1.8 million units by the end of September, showing a slight increase of 2.4% compared to the previous year [1] - In the Chinese market, BMW's sales declined by 0.4% year-over-year, totaling 147,121 units [1] Segment Performance - The electric vehicle segment showed strong performance, with a total of 151,282 electric and plug-in hybrid vehicles delivered in Q3 [3] - Cumulative deliveries of new energy vehicles (including BEV and PHEV) reached 470,313 units in the first three quarters, marking a 15.0% year-over-year increase [3] - Sales of pure electric vehicles (BEV) reached 323,447 units in the first three quarters, reflecting a 10.0% increase year-over-year [3] Brand Performance - BMW brand delivered 514,620 vehicles in Q3, a 5.7% increase year-over-year, with cumulative deliveries of 1.58558 million units remaining stable compared to the previous year [3] - The MINI brand continued its strong growth, delivering 72,376 units in Q3, a significant increase of 37.5%, and cumulative deliveries of 206,214 units, up 23.7% year-over-year [3] - Rolls-Royce delivered 4,100 vehicles in the first three quarters, a 3.3% increase, maintaining its position in the ultra-luxury car market [4] Motorcycle Division - BMW's motorcycle division delivered 159,156 motorcycles and scooters in the first three quarters, a decline of 2.6% year-over-year, but showed recovery in Q3 with 53,247 units delivered, a 5.7% increase [4] Management Commentary - Jochen Goller, a member of the management board, noted that BMW Group achieved slight sales growth by the end of September, with strong performances in Europe and the Americas, as well as encouraging results from the MINI brand [4]

Core Viewpoint - BMW has lowered its 2025 earnings guidance due to weaker-than-expected growth in China and the impact of US import tariffs [1][2][4] Group Performance - Year-to-date volume growth has been reported in Europe and the Americas, but deliveries in China have fallen short of internal targets, leading to reduced sales expectations for the Chinese market in Q4 [1][2] - The automotive EBIT margin for 2025 is now expected to be in the range of 5% to 6%, down from the previously guided 5% to 7% [3][4] Financial Projections - The revised return on capital employed (automotive) is projected at 8% to 10%, down from 9% to 13% [4] - Group earnings before tax are expected to decline slightly, contrary to previous forecasts of being on the same level as the previous year [4] - Free cash flow in the automotive segment for 2025 is now expected to be above €2.5 billion ($2.91 billion), down from a prior expectation of above €5 billion [5] External Factors - A significant reduction in commissions from local Chinese banks related to financial and insurance products will necessitate financial support to bolster dealer profitability [2] - BMW assumes that reimbursements of customs duties from American and German authorities, totaling a high three-digit million figure, will not be received in 2025 but only paid in 2026 [4] Future Outlook - BMW plans to publish full quarterly results and the adjusted outlook on 5 November 2025 in its Quarterly Statement to 30 September 2025 [6]

#行情 宝马股价在法兰克福早盘交易中下跌5%。宝马预计，今年集团税前利润将较去年下降，此前预期是与去年持平。其汽车业务营业利润率预计将降至5%至6%之间。宝马预期今年自由现金流约为25亿欧元，低于此前最高50亿欧元的预期。现金流预期下调主要由于对经销商，尤其是中国经销商的付款支出增加。另一边厢，奔驰第三季度在中国的交付量暴跌27%，7月在中国市场零售量环比下降超过40%，为近五年来月销量首次跌破2.7万辆。 ...

【环球网科技综合报道】10月8日消息，宝马集团近日正式发布2025年第三季度及前三季度汽车交付数 据。数据显示，第三季度宝马集团共交付汽车58.83万辆，较去年同期增长8.8%；截至9月底，集团累计 交付BMW、MINI和劳斯莱斯三大品牌汽车约180万辆，同比微增2.4%，整体呈现稳健发展态势。 从产品细分领域来看，新能源车型依旧是集团发展的重要支撑。第三季度，宝马集团纯电动与插电式混 合动力车型合计交付15.1282万辆；前三季度累计交付新能源车型（含纯电动BEV与插电式混合动力 PHEV）47.0313万辆，同比增长15.0%。其中，纯电动车型（BEV）前三季度销量达32.3447万辆，同比 增幅10.0%，电气化产品阵容的市场需求持续保持稳健。 分品牌表现来看，各品牌根据自身定位精准发力，展现差异化增长活力。宝马品牌第三季度交付51.462 万辆，同比增长5.7%；前三季度累计交付158.558万辆，与去年同期基本持平（同比+0.1%），其新能源 车型前三季度交付39.5998万辆，同比增长4.5%。值得关注的是，宝马品牌在除中国外的全球主要市场 均实现销售增长，欧洲和美洲市场表现尤为突出，且插电式混合 ...

来源：格隆汇APP 格隆汇10月8日｜宝马集团表示，由于销售持续疲软以及关税成本，宝马下调了其年度收益预期。该公 司目前预计，今年集团税前收益将略有下降，低于上年同期水平。其汽车制造利润率目前预计在5%至 6%之间。宝马表示，今年的自由现金流将在25亿欧元（29亿美元）左右，低于此前高达50亿欧元的水 平。 ...

German carmaker BMW reported on Tuesday rising sales in the third quarter of the year, lifted by its performance in Europe and in the United States. ...

Group 1 - BMW plans to launch over 40 new or updated models by the end of 2027 to strengthen its position in the global luxury market [2] - The new generation platform will feature the latest iDriveX central control screen, panoramic HUD, and advanced driving assistance systems, providing users with a near-generation experience [2] - BMW will introduce both fuel and electric vehicles, including the pure electric i1, i2, i3 Touring, and iX4, adopting a dual strategy of "fuel + pure electric" [4] Group 2 - FX Super One is expected to begin production in the United States by the end of the year [5] - FX Super One is described as a "non-official, rebranded" CKD model of the Weipai Gaoshan, with no official collaboration between Great Wall and FF, but rather a partnership through component assembly [7] - The collaboration aims to leverage strengths from both sides to bring quality Chinese products to the U.S. market [7]

Core Insights - BBA (BMW, Benz, Audi) is facing significant challenges in the electric vehicle (EV) market, with drastic declines in sales and profits, particularly in China [1][2][4] - The perception of BBA brands as outdated and less appealing compared to new entrants like Tesla and NIO is contributing to their struggles [2][4] - Price reductions have not effectively boosted sales and have instead harmed brand value, leading consumers to consider domestic alternatives [2][4] Sales Performance - BMW's net profit plummeted by 83.8%, Mercedes-Benz by 55.8%, and Audi by 37.5% [1] - In China, BMW's sales dropped by 15.5%, Mercedes-Benz by 14%, and Audi by 10.2% [1] - Electric vehicle sales for Mercedes-Benz fell by 31%, and Audi by 23.5%, while BMW saw an 18.5% increase in electric sales, though this was not enough to offset overall declines [1] Brand Perception - Consumers still view BBA as leaders in traditional fuel vehicles, while their electric offerings are seen as makeshift [2] - New energy brands are perceived as more innovative and appealing, leading to a shift in consumer loyalty [2][4] Product Issues - BBA's electric vehicles are primarily based on modified internal combustion platforms, leading to inherent design flaws [4] - Features that are standard in domestic competitors, such as air suspension and advanced driver assistance systems, are often optional in BBA vehicles, making them less competitive [4] - Technical issues, such as poor wiring and frequent motor failures, have raised doubts about BBA's engineering quality [4] Strategic Responses - BBA is attempting to adapt by accelerating localization and collaborating with tech companies for smart driving solutions [6] - Mercedes-Benz has revised its electrification goals, aiming for a maximum of 50% of its models to be new energy vehicles [6] - Audi is partnering with Huawei to enhance its intelligent driving systems [6] Market Outlook - The penetration rate of new energy vehicles in China is expected to exceed 50% by 2025, intensifying competition [6] - New energy brands are focusing on user experience and technology, while BBA must innovate to avoid marginalization [6][7]

10月1日，美国国家公路交通安全管理局（NHTSA）：宝马北美公司申请召回145,102辆美国汽车，原 因是起动机过热可能会引燃发动机舱内的易燃物，从而增加起火风险。（新浪财经） ...

Group 1 - BMW is recalling over 145,000 vehicles in the US due to an overheated starter that could increase the risk of fire [1][3] - The recall affects 2020 models of 340I, X7, and X5 [1][3] - BMW dealers will replace the engine starter free of charge as part of the recall [3] Group 2 - Earlier this week, BMW was reported to recall over 196,000 vehicles in the US for a similar engine starter issue that could lead to overheating and short circuits [3]