The BMW Group increased sales volume and net profit in the third quarter of 2020 and, at the nine-month stage, is on track to meet its targets for the full year. The BMW Group was able to benefit during the third quarter from regional upturns in demand as well as from the attractive model portfolio on offer to customers.

At the same time, cost efficiency and cash management remain decisive factors in coping with the ongoing impact of the COVID-19 pandemic in its varying regional forms to the best possible extent. The BMW Group continues to accelerate its e-mobility ramp-up.

All four German automotive plants will be manufacturing all-electric vehicles in the foreseeable future. In a subsequent step, the production of an all-electric model will also begin at the Group's Regensburg plant in 2022.

The Group is also ramping up the production of electric drivetrain components. From 2022, the BMW Group's Dingolfing Plant will have the capacity to manufacture electric motors for up to 500,000 electrified vehicles per year.

The CO₂ emissions of BMW Group vehicles during their lifetime are to be reduced by 40% per kilometre driven. The key lever for achieving this target is a far-reaching product strategy that massively promotes the use of e-mobility. Over the next 10 years, the BMW Group plans to have over seven million electrified vehicles on the roads worldwide - two thirds of which will be all-electric models.

The BMW Group is already a leading manufacturer of electrified vehicles. By the end of 2021, it will be offering five all-electric, series-produced automobiles in the form of the BMW i3, the MINI Cooper SE, the BMW iX3, the BMW iNEXT and the BMW i4. The next generation of the BMW 7 Series will mark a further important milestone.

The flagship model of the BMW brand will be available with four different types of drivetrain, diesel and petrol driven versions, an electrified plug-in hybrid and, for the first time, an all-electric battery electric model model. By 2023, the BMW Group intends to have 25 electrified models on the road with 13 being all-electric.

In addition to the BMW 7 Series, comprehensive electrification will continue to be rolled out across the model range. Further examples of the 'Power of Choice' will be the highly popular BMW X1 and BMW 5 Series, which will also be available with all four drivetrain variants going forward - all-electric, plug-in hybrid, diesel and petrol.

The BMW Group sets itself ambitious targets, even in politically and economically turbulent times. For the 12-month period of 2020, the BMW Group will continue to assume that demand in all key markets will be significantly reduced in light of COVID-19 and the necessary containment measures.

Taking account of the various factors described above, the BMW Group's profit before tax is likely to be significantly lower than in 2019.