BMW Group announced its 2023 financial results on March 20th, reporting a steady increase in revenue to €155.5 billion, reflecting a 9% year-over-year growth.
The company delivered 2,554,183 new vehicles globally, marking a 6.4% growth compared to the previous year.
Notably, BMW Group delivered 375,716 electric vehicles in 2023, a significant 74.1% increase year-over-year, representing around 15% of total sales.
Including plug-in hybrid vehicles (PHEVs), electrified models accounted for 565,875 deliveries, a 30.5% year-over-year increase and approximately 22% of total sales.
BMW Group's research and development expenditure surged by 13.8% to €7.54 billion in 2023, reflecting the company's commitment to innovation.
R&D Spend
Key R&D spends in electrification, digitalization, and autonomous driving tech, including new models like the BMW 5 Series, X3, and X5, as well as the Rolls-Royce Ghost and Vision Next 100 concept.
Capex Growth BMW Group's capital expenditure rose to €8.836 billion for the full year, up 8.5% year-over-year.
Investment Focus Significant investments in electrification and autonomous driving, plus construction of a high-voltage battery plant in Debrecen, Hungary.
Annual Conference BMW Group Annual Conference scheduled for March 21, 07:30 CET. Further insights into BMW Group financials and outlook for the BMW brand.
Concept Car Reveal
Concept vehicle to be unveiled, showcasing BMW's future design and engineering vision.
