BERLIN — BMW expects to succeed in the upper finish of its 7-9 p.c margin goal for the automobiles enterprise and sees slight gross sales development in 2023, Chief Monetary Officer Nicolas Peter stated.
Demand was recovering in China within the third quarter after lockdowns plagued the primary half, Peter stated, describing it as a “curler coaster” yr of their largest gross sales market.
In Europe, order books have been nonetheless full however demand was weak in Germany and the UK, and stronger in France, Spain and Italy.
BMW expects to hit its goal of 10 p.c totally electrical gross sales this yr at round 240,000 to 245,000 autos and will see that determine rising to round 400,000 subsequent yr, Peter stated on Monday.
Like different carmakers, BMW has needed to deal with shortages of semiconductors and provide chain disruptions associated to the pandemic which have slowed the manufacturing of EVs.
In comparison with final yr, international gross sales this yr shall be barely decrease because of losses within the first half, in keeping with Peter.
Subsequent yr, nevertheless, the corporate goals to make “one other large leap” in purely electrical autos, he added.
Requested how BMW was responding to the fuel scarcity in Europe, Peter stated it had lowered its fuel consumption in Germany and Austria by 15 p.c and anticipated to have the ability to lower it additional.
“The fuel subject is not going to have any direct influence on us this yr,” Peter stated, including that they had additionally not seen any manufacturing cuts in its provider community to this point.
Volkswagen and Mercedes-Benz have outlined contingency plans previously week ought to their provider networks fail to ship components, together with growing orders from suppliers exterior of the European nations most affected by the fuel disaster.
Peter didn’t give specifics on whether or not BMW was doing the identical however stated it had developed a far nearer relationship with its provider community because the chip scarcity.
Bloomberg contributed to this report