新世代首款车型BMW iX3基于宝马全新的智能化平台打造，带来三大突破性技术，包括：BMW全景iDrive，其以驾驶者为中心的人机交互，信息一目了 然，操作更直觉、清晰，让人车沟通更自然、更懂你；BMW驾控超级大脑，可以像一位实时在线的驾驶教练与安全官，懂路况、懂驾驶者、也懂车辆状 态，让智能真正为驾驶服务；大圆柱电池能量密度更高、续航更长、充电更快，同时车身重心更低，动态响应更灵活，开起来更带感。 中国经济网8月7日讯(记者郭跃)日前，宝马集团宣布，新世代首款车型——BMW iX3将于9月上旬在2025德国慕尼黑车展全球首发。同时，在宝马最重要的 市场中国，其还将打造专属中国需求、基于新世代平台开发的BMW iX3中国版，并也将于年内亮相。 常年来，宝马始终被看做是创新的领头羊，而新世代车型则将带领宝马攀上创新的新高峰。不止于此，对宝马而言，"新世代"不仅代表一款全新车型，更标 志着BMW品牌在设计、科技与用户体验上的全面革新，指明宝马集团及BMW品牌未来的发展方向。 聚焦至宝马全球最大单一市场——中国，新世代专属车型的到来更将成为及时雨。上半年，宝马全球累计销量超120.7万辆，同比基本持平；但在中国市 ...

Group 1 - Major automotive manufacturers, including BBA (Benz, BMW, Audi), are signaling a shift from full electrification to a strategy of coexistence between internal combustion and electric vehicles [1][2][4] - Audi has retracted its previous plan to stop developing internal combustion engine vehicles by 2033, now opting for a more flexible approach to its product lineup [2][4] - Other manufacturers like Mercedes-Benz and Porsche have also postponed their electrification targets, with Mercedes pushing its goal of 50% electric vehicle sales from 2025 to 2030 [2][4][5] Group 2 - Despite slowing electrification efforts, the push for vehicle intelligence is accelerating, with BBA brands deepening partnerships with Chinese smart driving solution providers like Momenta [1][6][7] - BMW and Mercedes-Benz are collaborating with Momenta to enhance their smart driving technologies, while Audi is diversifying its partnerships with multiple Chinese tech firms [6][7][9] - The trend reflects a broader industry need to improve smart technology capabilities, as partnerships with local suppliers provide a faster route to market than in-house development [9][10] Group 3 - Japanese automakers, including Toyota, Honda, and Nissan, are also partnering with Momenta to enhance their smart driving technologies, indicating a unified approach across major global brands [1][7] - The automotive industry is responding to market demands for safer and more convenient driving experiences, prioritizing smart technology over electrification due to its applicability across various powertrains [9][10] - Analysts suggest that the slower pace of electrification is a response to market diversity, infrastructure challenges, and profitability pressures, while the focus on smart technology aligns with consumer demands [9][10]

新华社柏林8月6日电 题：欧美贸易协议难解德国汽车业困境 新华社记者李函林 今年4月以来，美国政府挥舞关税大棒，大幅提高自欧盟进口汽车关税，重创欧洲汽车产业，导致 德国主要车企集体陷入利润暴跌的"寒冬"。 欧美日前达成新协议，欧盟输美汽车关税从25%降至15%。分析人士指出，该协议或将暂时避免欧 美之间爆发全面贸易战，但德国制造业的困境远未解除，仍然高企的出口成本与政策反复所带来的不确 定性，正在持续削弱车企信心。 关税冲击车企业绩 宝马、梅赛德斯-奔驰、大众等德国主要车企近日公布的财报显示，2025年上半年，企业利润普遍 大幅下滑。多家企业明确指出，美国高关税政策是造成其财务承压的重要因素。 宝马财报显示，2025年上半年，该集团收入同比下降8.2%，净利润下滑29%。公司指出，高关税是 其核心业务利润率下降的主要因素之一。梅赛德斯-奔驰上半年净利润从去年同期的约61亿欧元"腰 斩"至约27亿欧元。 大众集团2025年上半年销售收入同比下降0.3%，旗下保时捷汽车业绩也受到显著影响。保时捷公 司表示，上半年因关税额外支出约4亿欧元。 与此同时，德国车企现金流状况持续恶化。英国《金融时报》报道，受美国关税政策 ...

Core Insights - BMW Group announced the global debut of the BMW iX3 at the 2025 Munich Auto Show in early September [1] - The new generation BMW iX3 will feature three major technologies: the pioneering panoramic iDrive, the unique BMW driving control super brain, and the revolutionary large cylindrical battery [1] - The China version of the BMW iX3 will deeply integrate China's leading AI large language model, specifically tuned for local driving conditions and preferences, and will collaborate with Chinese partners to develop intelligent driving assistance solutions tailored for China [1]

Core Viewpoint - The traditional luxury car giants BBA (BMW, Mercedes-Benz, Audi) are facing significant growth challenges, with declining revenues and profits, particularly in the Chinese market, indicating a critical phase in their transformation efforts [1][2][4]. Financial Performance - In the first half of 2025, BBA's financial results showed a mixed performance: BMW led with €67.685 billion in revenue, down 8% year-on-year; Mercedes-Benz followed with €66.377 billion, experiencing the largest revenue drop of 8.6% and a net profit decline of over 50%; Audi was the only brand with revenue growth, reaching €32.573 billion, but its net profit was only €13.46 billion, one-third of BMW's [2][4][5]. - The overall net profit for Mercedes-Benz fell by 55.8% to €2.688 billion, while BMW's net profit decreased by 29% to €4.015 billion, and Audi's net profit dropped by 37.5% [7][8]. Market Challenges - BBA collectively struggled in the Chinese market, with delivery volumes declining by 15.5% for BMW, 14.2% for Mercedes-Benz, and 10.3% for Audi [4][6]. - The entry-level models of BBA are facing intense competition from domestic brands, leading to significant sales declines in the mid-range price segment [7][8]. Electric Vehicle Transition - The shift towards electric vehicles (EVs) is critical for BBA, with distinct strategies emerging: BMW is leading in EV sales, with 220,600 units sold in the first half of 2025, a 15.7% increase; Audi's EV sales grew by 32.3%, while Mercedes-Benz's EV sales fell by 14% to 87,300 units [9][12][13]. - Audi is cautiously pursuing electrification, planning to launch new internal combustion and hybrid models between 2024 and 2026, while BMW is focused on its new generation platform to boost EV sales [12][13][14]. Strategic Adjustments - BBA is adjusting its electrification goals, with Mercedes-Benz postponing its target for full electrification to 2030, aiming for a maximum of 50% of new models to be electric or hybrid by that year [14][15]. - The competitive landscape is shifting, with BBA needing to enhance their smart technology capabilities alongside their electrification efforts to regain their former market dominance [15].

The first variant or model of this new class is the IX3. So many people get frustrated on this program when we talk about a company going after Tesla. Tesla killers.But in the ix3, BMW does see potential to claw back a bit of market share. Stefan. Yeah, absolutely.And, you know, back in the day when Tesla came out with the model three BMW actually lost a lot of drivers to Tesla. So so BMW CEO Oliver Zips is now confident that BMW can win those people back. And you know, the new SUV will be unveiled in Septe ...

Core Viewpoint - The traditional luxury car giants BBA (BMW, Mercedes-Benz, Audi) are collectively facing growth bottlenecks, with declining revenues and profits, particularly in the Chinese market, indicating a deep transformation pain that requires immediate and decisive action to recover and seize future opportunities [1][3][6]. Group 1: Financial Performance - In the first half of 2025, BBA's financial results showed a trend of "two declines and one increase" in revenue, with all three companies experiencing a "full-line decline" in net profits [3][6]. - BMW led with a revenue of €67.685 billion, despite an 8% year-on-year decline; Mercedes-Benz followed with €66.377 billion, suffering the largest revenue drop of 8.6% and a net profit halved; Audi was the only brand with revenue growth, reaching €32.573 billion, but its net profit was only €1.346 billion, one-third of BMW's [3][6]. - The decline in performance has led BBA to lower their profit forecasts, with Audi adjusting its annual revenue target to €65-70 billion and profit margin expectations down to 5-7%; BMW expects a decrease in profit margin to 5-7%; and Mercedes-Benz anticipates lower sales than the previous year, adjusting its return on sales from 6-8% to 4-6% [6]. Group 2: Market Challenges - BBA has collectively lost ground in the Chinese market, which is their most important single market globally, with delivery volumes declining by 15.5% for BMW, 14.2% for Mercedes-Benz, and 10.3% for Audi [5][6]. - The entry-level models of BBA, priced between 200,000 to 400,000 yuan, are facing fierce competition from domestic brands, leading to a decline in both volume and profit [8][9]. - BMW's popular models, such as the X3/X4 and i3/i4, saw delivery declines of 24.6% and 70.8%, respectively, indicating significant pressure in the mid-range segment [8][9]. Group 3: Electric Vehicle Transition - The shift to electric vehicles (EVs) is seen as essential for BBA's recovery, with distinct strategies emerging: BMW is leading, Audi is gaining momentum, while Mercedes-Benz is lagging [11][12]. - Audi reported a 32.3% increase in pure electric vehicle sales, achieving a penetration rate of 12.8% with 101,400 units delivered; BMW's electric vehicle sales reached 220,600 units, up 15.7%, while Mercedes-Benz's sales fell by 14% to 87,300 units [15][16]. - BMW is focused on a clear electric future, with plans for a new generation platform expected to boost electric vehicle sales significantly, aiming for 50% of its sales to be electric by 2035 [16][17]. Group 4: Strategic Adjustments - Audi has adopted a more cautious approach to its electric vehicle strategy, delaying the complete phase-out of combustion engines and planning to launch new internal combustion and hybrid models from 2024 to 2026 [16]. - Mercedes-Benz has adjusted its electric vehicle strategy, aiming for a maximum of 50% of its sales to be new energy vehicles by 2030, while still planning to introduce new electric models [17]. - The BBA's transition to electric vehicles is characterized by a pragmatic return to rationality, facing the dual challenge of accelerating the transition while addressing shortcomings in smart technology [18].

Core Viewpoint - The traditional luxury car giants BBA (BMW, Mercedes-Benz, Audi) are facing significant growth challenges, with declining revenues and profits, particularly in the Chinese market, indicating a critical transformation phase for these companies [1][2][4]. Financial Performance - In the first half of 2025, BBA's financial results showed a mixed performance: BMW led with revenues of €67.685 billion, down 8% year-on-year; Mercedes-Benz followed with €66.377 billion, experiencing the largest revenue drop of 8.6%, and a net profit halved to €26.88 billion; Audi reported revenue growth to €32.573 billion but with a net profit of only €1.346 billion, one-third of BMW's [2][4][8]. - The overall net profit for BBA saw significant declines, with Mercedes-Benz's net profit dropping 55.8%, BMW's down 29%, and Audi's down 37.5% [7][8]. Market Challenges - BBA collectively struggled in the Chinese market, with delivery volumes down 15.5% for BMW, 14.2% for Mercedes-Benz, and 10.3% for Audi, making it the largest single market decline globally for these brands [4][10]. - The entry-level models of BBA are facing intense competition from domestic brands, leading to a decline in both volume and profit margins [9][10]. Strategic Adjustments - BBA has lowered their profit forecasts: Audi revised its revenue target to €65-70 billion with a profit margin expectation of 5-7%; BMW anticipates a decline in its automotive EBIT margin to 5-7%; Mercedes-Benz expects lower sales than the previous year with a revised return on sales (ROS) of 4-6% [4][10]. - The companies are adjusting their strategies towards electric vehicle (EV) production, with BMW leading in EV sales, while Mercedes-Benz has delayed its full electrification target to 2030 [11][16]. Electric Vehicle Transition - Audi reported a 32.3% increase in EV sales, leading BBA, with a total of 101,400 units delivered; BMW's EV sales reached 220,600 units, up 15.7%, while Mercedes-Benz saw a 14% decline in EV sales to 87,300 units [14][16]. - BMW is focusing on its new generation platform to boost EV sales, aiming for 50% of its sales to be electric by 2035, while Audi is cautiously expanding its EV lineup [15][16]. Future Outlook - The BBA's transition to electric and smart vehicles is seen as a necessary response to market pressures, with the potential for new growth opportunities emerging from current challenges [17].

Core Viewpoint - BMW is facing significant challenges in the Chinese market, with a notable decline in sales and increased pressure from tariffs, leading to a negative outlook from S&P Global Ratings [2][19]. Financial Performance - In the first half of 2025, BMW's global sales exceeded 1.2 million units, a slight decrease of 0.5% year-on-year [2]. - Revenue for the same period was €67.685 billion, down 8% year-on-year, while net profit fell by 29% to €4.015 billion [2]. - The EBIT margin for the automotive segment decreased by 2.4 percentage points to 6.2% [2]. Market Performance - The Chinese market saw the largest decline, with sales dropping 15.5% to 318,125 units in the first half of 2025 [11]. - BMW's performance in other major markets, including Europe and the Americas, showed growth, with total sales in these regions increasing by 6.3% [12]. Electric Vehicle Sales - BMW's electric vehicle (EV) sales rose significantly, with over 220,000 battery electric vehicles (BEVs) delivered, marking a 15.7% increase year-on-year [5][6]. - The share of BEVs in total sales reached 18.3%, while the total delivery of new energy vehicles (including plug-in hybrids) was 319,031 units, up 18.6% [6]. Brand Performance - The MINI brand experienced a substantial increase in sales, with a 361.7% rise in pure electric model deliveries, totaling 46,000 units [7]. - BMW brand's pure electric vehicle sales decreased by 3% to 174,000 units, while plug-in hybrid sales increased by 29% to 98,000 units [7]. Strategic Initiatives - BMW is focusing on its electric vehicle strategy, with over €4 billion invested in research and development for new generation technologies [9]. - The company plans to launch 40 new models based on the Neue Klasse platform by 2027, with the first model, the iX3, debuting at the Munich Motor Show in September [9]. Competitive Landscape - The competitive pressure in the Chinese market is intensifying, particularly from local brands offering attractive features at lower prices [19]. - BMW aims to differentiate itself by leveraging localized technology and partnerships, such as collaborating with Momenta for smart driving systems [17].

Core Viewpoint - BMW is facing significant challenges in the Chinese market, with a notable decline in sales and increased pressure from tariffs, impacting overall financial performance [1][11][21]. Group 1: Financial Performance - In the first half of 2025, BMW's global sales exceeded 1.2 million units, a slight decrease of 0.5% year-on-year [1]. - Revenue for the first half of 2025 was €67.685 billion, down 8% year-on-year, while net profit fell by 29% to €4.015 billion [1]. - The EBIT margin for the automotive segment dropped by 2.4 percentage points to 6.2% [1]. Group 2: Market Performance - The Chinese market saw the largest decline for BMW, with sales dropping 15.5% to 318,125 units in the first half of 2025 [1][11]. - Despite challenges in China, BMW maintained leadership in revenue, net profit, and sales among the German luxury brands [1]. - In Europe, BMW's electric vehicle (EV) sales increased significantly, with a market share close to 40% for EVs [7][8]. Group 3: Electric Vehicle Sales - BMW's electric vehicle deliveries surpassed 220,000 units in the first half of 2025, marking a 15.7% increase year-on-year [6]. - The total delivery of new energy vehicles (including plug-in hybrids) reached 319,031 units, an 18.6% increase, accounting for 26.4% of total sales [6]. - MINI brand played a crucial role in the growth of electric vehicle sales, with a 361.7% increase in pure electric deliveries [5][7]. Group 4: Strategic Initiatives - BMW is focusing on electric vehicle development, with over €4 billion invested in R&D for new generation technologies [8][9]. - The company plans to launch 40 new models based on the new generation platform by 2027 [9]. - To strengthen its position in China, BMW is collaborating with local tech firms to develop intelligent driving systems tailored for Chinese roads [18]. Group 5: Future Outlook - BMW anticipates continued pressure on profit margins due to competition and tariff impacts, projecting a decline in EBIT margin to between 5% and 7% for the automotive segment in 2025 [20][21]. - The company expects to face ongoing competition from local brands in China, which may lead to a slight decline in sales in the coming years [21].