Founded in 1916, Bayerische Motoren Werke AG initially manufactured aircraft engines before producing its first motorcycle, the BMW R 32, in 1923. The manufacturer began producing automobiles in 1928, and automotive sales grew to become the group’s main revenue stream, generating just over 123.6 billion euros in earnings in 2022. BMW ranked among the 15 most valuable brands worldwide that same year. Its main competitors, Toyota and Mercedes-Benz, were the only automotive brands higher up in the ranking.
Including segments MINI and Rolls-Royce, Bayerische Motoren Werke AG generated around 142.6 billion euros in revenue in the 2022 fiscal year. This was a year-over-year increase of 28.2 percent and the highest revenue recorded by the group since 2007. BMW's vehicle deliveries decreased that same year, down 4.8 percent for its automotive segment despite its positive financial performance. The price of electric vehicles, in which BMW is steadily investing, in part contextualizes this financial performance. Due to this high revenue, BMW brand remains one of the leading luxury car brands in the world.
Tapping into the electric vehicle market
As the road vehicle and transportation industry is shifting towards electrification, autonomy, and mobility, BMW is aware it must stay relevant. The company held around 4.82 percent of the global plug-in electric vehicle market in 2021, placing it among the ten best-selling automakers worldwide for this vehicle segment. The automotive manufacturer also has plans to expand its electric model lines, adding the i4 and iX to its line-up in 2021. Sales of its BMW i series, which had been deeply impacted by the pandemic, were nearly double their 2021 volume in 2022. Despite this performance, the manufacturer was also impacted by the automotive semiconductor shortage and rising primary material costs.
A secure place in the global market
The company is headquartered in Germany but has factories in many other countries, including Brazil, India, South Africa, the United Kingdom, the United States, Mexico, and China. The latter is becoming BMW's most important market; nearly one-third of vehicle sales in 2022 were in China. BMW operates in a joint venture with the Chinese company BMW Brilliance Auto.
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Research Expert covering transportation and logistics