BMW AG Finance Chief Walter Mertl’s Q2 2026 Quarterly Statement Highlights Market Challenges and BEV Growth

BMW AG’s Finance Board Member Walter Mertl delivered the group’s quarterly statement for the period ending 30 June 2026, outlining a mixed performance amid ongoing global headwinds. The second quarter saw Group revenues of €31.3 billion, down from the prior-year period, while Group earnings before tax (EBT) fell 35% year-on-year to €1.7 billion. For the first half of 2026, Group revenues totaled €62.3 billion, with EBT declining 29.4% to around €4 billion, resulting in an EBT margin of 5.4% in Q2 and 6.5% year-to-date.

The Automotive Segment reported EBIT of €629 million in Q2, equating to a 2.3% margin, which included a 1.25-percentage-point burden from elevated tariffs and a 1.2-percentage-point reduction due to depreciation from the BBA purchase price allocation. Year-to-date Automotive EBIT stood at around €2 billion, with a 3.6% margin.

Global deliveries for the quarter slipped 4.9% year-on-year to approximately 591,000 units across BMW, MINI, and Rolls-Royce. BMW brand deliveries dropped 7.7% to around 509,000 units, while MINI bucked the trend with a 17.1% increase, driven by strong demand for its all-electric models. Total BEV deliveries reached about 117,000 units in Q2, with electrified vehicle sales (including plug-in hybrids) totaling around 163,000 units. This translated to a BEV share of 19.8% and an electrified vehicle share of 27.6% of total Group deliveries. Europe was the standout region for BEV growth, with sales up 38% year-on-year to over 81,000 units—nearly one in three vehicles sold in the region was all-electric. Automotive Segment revenues fell 7.7% to €27.2 billion, reflecting lower volumes and intense competitive pressures.

Regional performance varied sharply. Europe, BMW’s largest market, posted a 7.6% increase in retail sales, while the Americas saw a 9.4% rise, led by an 11.9% surge in the US, where the BMW brand outperformed the broader market. In contrast, China’s automotive downturn deepened, with BMW Group retail sales plunging 30.2% in Q2 and 20.4% year-to-date, mirroring the overall market decline of 20.2%. The Asia-Pacific, Eastern Europe, Middle East, and Africa region saw deliveries drop by around 10.9% year-on-year, totaling roughly 9,000 fewer units. Mertl emphasized the need to balance sales volumes, transaction prices, and profitability amid these divergent regional dynamics.

The statement underscored the impact of geopolitical tensions, particularly the Middle East conflict, and heightened competition from higher export volumes out of China, which intensified pressure across multiple markets. Despite these challenges, BMW highlighted progress in electrification, with Europe’s strong BEV performance reinforcing confidence in meeting 2026 EU CO2 emissions targets.