Hyperdrive

BMW’s Automotive Margin Beats Estimates as EV Sales Rise

Premium car sales rose 5.8% from third quarter last year
Fully electric models accounted for 15.1% of sales in quarter

BMW’s iX1 EV at the BMW AG pavilion in the Open Space area during the Munich Motor Show (IAA) in Munich in September.Photographer: Alex Kraus/Bloomberg

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By Wilfried Eckl-Dorna

November 3, 2023 at 6:30 AM UTC

Updated on

November 3, 2023 at 9:08 AM UTC

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BMW AG’s automotive operating margin exceeded expectations in the third quarter, as sales of premium vehicles helped offset a weakening global outlook for the industry.

The German manufacturer posted a margin of 9.8% in the third quarter for its luxury car business, the company said Friday. Analysts estimated it would reach 9.63%, according to data compiled by Bloomberg.