BMW Group has released its results for the financial year so far, to the end of September 2022, doubling 2021’s electric vehicle deliveries, writes ILM.

For the third quarter of the 2022 fiscal year, BMW Group achieved a revenue increase of 35.3% to €37.18 billion. Revenues for the first nine months of the year were up by 24.5% to €103.1 billion.

Electric vehicle deliveries in the year to the end of September were up to 128,000 units, more than double the number in the same period of 2021. BMW Group delivered a total of 1,747,838 vehicles to customers in the year so far, down by 9.5% from 2021’s all-time high.

The group’s EBIT result for the first nine months was €7.7 billion, down by 3%, and €2.87 billion for Q3 alone, an increase of 63.6%. The EBIT margin was 8.7% for the year to September and 8.9% for the third quarter alone.

Nicolas Peter, member of the Board responsible for finance, said: “As a global premium manufacturer, we are benefiting now more than ever from our balanced positioning in the three major regions of the world: Europe, the Americas and Asia.

“Overall, we expect the positive momentum for our company to continue in 2023. Our attractive products and growing demand for e-mobility make us optimistic about the future.”