BERLIN — BMW is forecasting an 8 to 10 p.c margin for its automotive section in 2023 and stated it plans to maintain costs at a secure degree, after years of coping with rising prices by passing them onto clients.

The premium carmaker stated its transition to full-electric autos was transferring sooner than deliberate and that it expects for one in 4 new gross sales to be EVs by 2025.

“BMW expects to succeed in greater than 50 p.c BEV share nicely forward of 2030,” it stated in an announcement Wednesday.

The carmaker anticipated the rise in EV gross sales, which doubled to over 215,000 in 2022, to sluggish barely this 12 months.

However by 2025, one in 4 new gross sales ought to be battery-electric, rising to 1 in three by 2026, based on Wednesday’s forecast — an formidable leap from the one in 11 ratio seen final 12 months.

The carmaker confirmed preliminary outcomes launched final week for 2022, together with an 8.6 p.c margin within the autos enterprise on earnings earlier than curiosity and taxes (EBIT) of 10.6 billion euros and money circulation of 11.1 billion euros.

Virtually half of the latter got here from a money contribution from Chinese language three way partnership BMW Brilliance Automotive (BBA). BMW has totally consolidated the three way partnership into its stability sheet after rising its share to 75 p.c from 50 p.c final February.

It proposed a dividend to shareholders of 8.50 euros, up from 5.80 a 12 months earlier.