BMW Group’s 2024 fiscal year revenue fell 8.4% YoY to 142.38 billion euros ($155.4 billion), with EBIT dropping 35.8% to 10.97 billion euros ($12 billion), reducing its profit margin to 7.7%. The company attributed weaker performance in H2 2024 to sluggish demand in China and halted deliveries linked to its Integrated Brake System (IBS). BMW’s revenue in China dropped 22% to 31.79 billion euros ($34.7 billion), although the market remained its largest single market with 714,500 units delivered, representing 29% of global sales. BMW warned that rising trade tensions may cost the company around 1 billion euros ($1.1 billion) in tariffs. To mitigate concerns, the company announced that the first model in its upcoming new-generation vehicle series will be an all-electric iX3.