BERLIN, March 14. /TASS/. The net profit of German automobile concern BMW Group in 2024 fell by 36.9% compared to 2023 reaching 7.7 bln euro, according to the company's financial report for 2024.
According to the company’s data, the largest share of the group's revenue (42.7%) came from the European market, with Asia (32.7%) and North and South America (22.4%) in second and third place. The rest of the world's regions accounted for a total of 2.2% of revenue.
Total revenue in absolute numbers amounted to 142.4 bln euro, which is 8.4% lower than in 2023. The volume of vehicle deliveries to customers also fell - in 2024, BMW delivered less than 2.5 mln vehicles, and in 2023 - 2.6 mln. At the same time, the company increased the supply of electric vehicles by 4.8%, this figure reached around 593,200 vehicles.
China remained BMW's largest car market (29.2% of sales), followed by the United States (16.3%) and Germany (10.8%). The company also recorded significant sales volumes in the United Kingdom (6.9%), South Korea (3.5%), France (3.4%), and Italy (3.3%).
Back in February, the German Institute for Economic Research Ifo published a statement saying that the German automobile industry was in a crisis and that the business climate index in the industry reached its lowest value in the last five years (-40.7 points). It was noted that German automobile concerns have lost significant ground both in the domestic market and abroad. According to Ifo experts, the situation is due to tough competition from China, threats by US President Donald Trump to impose tariffs on imports from the EU, and domestic economic problems.