Overview
- Revenue edged down 0.3% to €32.3 billion as the automotive operating margin improved by 2.9 percentage points to 5.2%.
- BMW said import duties in the EU and US reduced the automotive margin by about 1.75 percentage points.
- Management kept the slightly lowered full‑year guidance set in October, citing a soft China market and pricing pressure from tariffs.
- Early demand for the iX3, the first Neue Klasse model, is running well above expectations in Europe where orders are currently open.
- BMW expects lower R&D and investment spending into Q4, reports €5.7 billion year‑to‑date net profit, and says it will meet 2025 EU CO2 fleet targets without pooling while planning i3 production in Munich in the second half of 2026.