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 ...

记者丨 焦文娟 编辑丨张明艳 当德系传统豪华车企BBA（宝马、奔驰、奥迪）2025年上半年财报相继出炉，一个清晰的趋 势呈现： 曾经的"豪华车神话"正集体遭遇增长瓶颈。 宝马虽以净利润约为奔驰与奥迪之和、纯电销量领跑的表现暂居头名，但三家传统豪华车企集 团下滑的营收、腰斩的利润、在中国市场的溃败，以及纷纷下调的全年预期，都在诉说着同一 个现实：传统豪华车巨头的转型阵痛已进入深水区。 在这场集体下跌中， BBA们谁能最先挣脱业绩泥潭，将取决于当下转型的决断速度，而非历 史荣光。 唯有当下立即行动、果断调整，才最有可能率先复苏，抢占未来先机。 集体承压，普遍失守中国市场 2025年上半年，BBA的业绩答卷布满"下滑"的字样。从核心财务数据来看，三家呈现出"两降 一增"的营收分化，与"全线下滑"的净利润困境。 具体来看，宝马虽以676.85亿欧元的营收保持领先，但8%的同比下滑仍难掩颓势；奔驰 663.77亿欧元的营收紧随其后，却以同比下滑8.6%录得三家中最大的营收跌幅，净利润更是腰 斩过半，从"利润之王"的宝座跌落；奥迪虽成为唯一营收正增长的品牌，但其325.73亿欧元的 营收规模不及宝马、奔驰的一半，13.4 ...

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].

BMW will take on Tesla with a new line of EVs offering longer range and high-performance software. “This will be the benchmark of the industry,” BMW’s CEO says. Read more: https://t.co/nMuYgGjU3Y📷: Jana Islinger/Bloomberg https://t.co/yMuUj29W6A ...

BMW is striking back at Tesla with longer-range EVs, CEO Oliver Zipse tells @TomMackenzieTV https://t.co/QJvZkTUVeK https://t.co/0YIdF9tXKb ...

We're 109 years old, and it's by far the biggest single investment into one architecture we've ever done. And it kind of developed. We started with an electric car and we said, Well, it's all about digital, it's about connectivity, it's about a global approach.And then it kind of developed and the whole company said, This is a great idea. And because everyone kind of wanted to contribute to that product, it kind of became a self-fulfilling prophecy to start that and everyone said this is the right time and ...

Core Viewpoint - The financial results for the first half of 2025 from major European automakers Volkswagen, Mercedes-Benz, and BMW show significant declines in revenue and profit, attributed to factors such as U.S. tariffs and intense competition in the Chinese market [1][3][9]. Financial Performance Summary - Mercedes-Benz reported a revenue of €72.6 billion (approximately ¥597.9 billion) for the first half of 2025, a decrease of 8.6% year-on-year, with a net profit of €2.7 billion (approximately ¥222.3 billion), down 55.8% compared to the previous year [3]. - Volkswagen's second-quarter revenue was €80.81 billion (approximately ¥665.4 billion), a 3% decline year-on-year, with an operating profit of €3.83 billion (approximately ¥315.3 billion), down 29.4% [3]. - BMW's total sales revenue for the first half of 2025 was €67.7 billion (approximately ¥557.5 billion), a decrease of 8% year-on-year, with a net profit of €4 billion (approximately ¥329.3 billion), down 29% [3]. Sales Performance Summary - Mercedes-Benz's global sales fell by 8% to 1.076 million units in the first half of 2025, with a 14% decline in China, a 6% decline in the U.S., and a 3% decline in Europe [4]. - BMW's global sales decreased by 0.5% to 1.207 million units, with a 15.5% drop in China, although sales in Europe increased by 8.2% [4][6]. Market Challenges - Both Mercedes-Benz and BMW cited U.S. tariffs and fierce competition in the Chinese market as key factors contributing to their declining performance [3][6]. - The impact of U.S. tariffs has been particularly severe, with Volkswagen experiencing a 16% drop in sales in North America and an estimated cost increase of €1.3 billion (approximately ¥10.7 billion) due to tariffs [9][12]. Strategic Responses - Despite the poor financial performance, the companies remain committed to their transformation strategies, with BMW leading in electric vehicle sales, reporting an 18.5% increase in sales of electric and plug-in hybrid models [8]. - Mercedes-Benz and Volkswagen are implementing cost-control measures and restructuring plans to mitigate financial losses, including layoffs and strategic shifts [12][13].

Core Viewpoint - The European luxury car industry is facing significant profit declines due to U.S. tariffs, with major companies like Mercedes-Benz, Porsche, and Audi reporting steep drops in earnings and sales [1][2][4]. Group 1: Financial Impact - BMW reported a sales revenue of €67.7 billion for the first half of the year, an 8% decrease year-on-year, with a net profit of €4 billion, down 29% [2]. - Mercedes-Benz's profits halved from approximately €6.1 billion to about €2.7 billion in the first half of the year, with a 9% decline in global sales [2]. - Porsche's net profit plummeted 71% to €718 million in the first half of 2025, with a nearly 91% drop in automotive business operating profit in Q2 [4]. - Audi's profits fell 37.5% to €1.3 billion in the first half of 2025, with U.S. tariffs causing approximately €600 million in losses [4]. Group 2: Tariff Effects - The U.S. tariffs have created significant uncertainty for companies, with Mercedes-Benz stating that the tariffs have impacted sales and profitability, reducing its profit margin from a potential 6.6% to 5.1% [2]. - The new trade agreement between the U.S. and EU, while reducing tariffs from 27.5% to 15%, still imposes a higher rate than previously, leading to ongoing financial strain for European manufacturers [5]. - The automotive industry is considering passing tariff costs onto U.S. consumers, with companies like Porsche and Aston Martin already raising prices [1][5][7]. Group 3: Market Dynamics - The North American market is crucial for European automakers, with over 20% of European car exports directed to the U.S. [6]. - Companies like Audi and Porsche, which do not have U.S. production facilities, are particularly vulnerable to tariff impacts [6]. - The competitive landscape is shifting as Chinese electric vehicle brands gain market share, exacerbating challenges for German manufacturers [8][9].