By Pierre Bertrand


BMW AG said Wednesday that it expects its automotive deliveries to increase in 2023, driven by a ramp-up in battery electric and high-end vehicles.

The German car maker said it is also targeting an earnings before interest and taxes margin of between 8% and 10% this year for its automotive segment. In 2022, the automotive segment EBIT margin was 8.6%

It added that fully-electric vehicles and higher-end models such as the new BMW 7 Series are expected to be the main growth drivers of 2023.

The company said that it expects growth in the mid-double-digit percentage range in 2023 for its high-end premium vehicle segment and added that its battery electric vehicle models are likely to grow in the high double-digit percentage range.

In 2022, deliveries at its automotive segment declined 4.8% compared with 2021 to 2,399,632 units due to difficulties with semiconductor components supply, supply chain disruptions and coronavirus lockdowns in China.

The company confirmed its 2022 results that it pre-released on March 9 saying it achieved EUR18.58 billion in net profit compared with EUR12.46 billion in the prior year on revenue that grew 28% to EUR142.61 billion.

It also reiterated its plan to propose a EUR8.50 per share dividend.


Write to Pierre Bertrand at pierre.bertrand@wsj.com


(END) Dow Jones Newswires

03-15-23 0311ET