...August 14, 2024 This report does not constitute a rating action. Milan (S&P Global Ratings) Aug. 14, 2024--BMW demonstrated resilience in the second quarter of 2024, despite evidence of downward trends in China and, to a lesser extent, in the USA. The stability of group revenue and deliveries was supported by the BMW brand, up 2.3% globally, whereas MINI continues to be affected by planned model changeovers during this year. In a market where global battery electric (BEV) light vehicle sales growth has markedly slowed (+12% on June 24 versus +51% at the beginning of this year), BMW stands out for the momentum of its all-electric sales, posting a nearly 25% increase in the first half, bringing the BEV mix to 17.4% (from April to June 2024), up from 12.6% a year ago. The good traction of BMW's all-electric vehicles puts the company on course to overachieve its average fleet emission target in 2024, which places BMW among the few original equipment manufacturers (OEMs) having a reasonable...
