Motors

BMW Group releases results for first half of 2022

The BMW Group announced for the first six months of 2022, a Group earnings before tax (EBT) margin of 24.5% (Q2 2022: 11.3) which increased the financial result by € 7.7 billion.

“Emotional products and innovative technology are and will remain the backbone of our business success. Our rapidly growing range of all-electric vehicles with the BMW Operating System 8 impresses customers and experts alike — and is already a central driver of our sales today.”

“From 2025, we will make the next big leap with the NEUE KLASSE: The NEUE KLASSE defines what the BMW Group stands for in the future. At the start, we are planning a compact sedan in the 3-series segment and a sporty SUV. By the end of the decade, the NEUE KLASSE is expected to account for more than half of our sales.”

Oliver Zipse, Chief Executive Officer, BMW AG, Munich

He highlighted that the role of hydrogen in individual mobility also needs reassessing.

“In our view, hydrogen is the missing piece of the puzzle that can complement electromobility in places where battery-electric drivetrains are unable to gain traction.”

Oliver Zipse, Chief Executive Officer, BMW AG, Munich

Deliveries of fully electric vehicles more than doubled in the first half of 2022.

The company expanded its leading position in the global premium segment with a total of 1,160,094 vehicles, despite BMW Group sales failing to reach the all-time high of the previous year.

When asked what he believes will be the greatest challenges to switching to sustainable mobility in GCC markets, and how BMW plans to overcome such challenges, Dr. Hamid Haqparwar, Managing Director, BMW Group Middle East said:

“It is clear to me that there is no single solution which can cover the complete mobility needs of the GCC region. Through our open-technology approach, I am confident GCC markets will benefit from both battery electric and hydrogen fuel cell vehicles. At a wider scale, the coexistence of both drive trains will complement one another to accelerate the adoption of emission-free vehicles. This will surely offer our customers the flexibility needed to opt for a suitable choice, based on their energy consumption habits and readily available infrastructure. ”

Dr. Hamid Haqparwar, Managing Director, BMW Group Middle East

For more information on BMW Group, visit their website or follow them on social media @BMWGroup (Facebook, Instagram, Twitter).

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