Q2 2024 Bayerische Motoren Werke AG Earnings Call Transcript
Key Points
- Stable pricing across the portfolio, with average revenue per unit maintaining at EUR51,000.
- Strong order intake lasting into Q4, indicating robust demand.
- Positive volume and mix, particularly with the ramp-up of the five series and MINI.
- Effective supply chain management, avoiding significant disruptions.
- Continued growth in electric vehicles, with a 50% increase in fully electric vehicle sales in Europe.
- Downward pricing trend in China, though recent stabilization is noted.
- Normalization of used car prices impacting revenue and profit margins.
- Challenges in maintaining CO2 emission targets, requiring significant adjustments in product mix.
- Potential financial impacts from new corporate sustainability reporting directives.
- Pressure on dealer transaction prices, particularly in China, requiring adjustments in volume targets.
So ladies and gentlemen, welcome back again, Oliver Zipse and myself and Walter Mertl also in the room. So we can start with our Q&A sessions. The operator will first, give you some technical instructions.
Questions & Answers
(Operator Instructions) George Galliers, Goldman Sachs.
Yes, good morning and thank you for taking my question. On the question I had was with respect to pricing developments as we go into the second half, please, could you give us an update in terms of what you are seeing in the markets on geographically with respect to pricing and how did these compare to your assessment of the market at the end of the first quarter? Thank you.
Thank you very much, George. Your question will be answered by Walter.
Good morning, George. Many
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