Bayerische Motoren Werke AG is making a decisive move in the United States, pulling its flagship BMW iX electric vehicle from the market after a steep sales decline. First-quarter deliveries of the model in the US plummeted to just under 1,800 vehicles, prompting the strategic withdrawal. The company views the iX as having completed its role as a technological pioneer, and resources are now being redirected toward its next-generation vehicles.
This realignment comes during a period of contrasting fortunes for the automaker’s electric division. Globally, BMW’s overall vehicle deliveries fell 3.5 percent year-on-year in Q1, with a particularly sharp decline of over 20 percent in battery-electric vehicle deliveries to approximately 87,000 units. This stands in stark contrast to the European market, where orders for electric vehicles surged by about 40 percent compared to the previous year.
The void left by the iX in America will be filled by the upcoming “Neue Klasse” (New Class) vehicles, with the new BMW iX3 on a dedicated electric architecture at the forefront. This model has already garnered strong pre-launch interest, accumulating over 50,000 orders. The company promises the sixth generation of its eDrive technology will deliver noticeable improvements in range and charging speed. While the iX remains in other regions, North America will serve as a pilot market for this accelerated platform transition.
Simultaneously, the company is proposing a significant change to its capital structure ahead of the Annual General Meeting. The board recommends converting all non-voting preference shares into voting common stock. Shareholders wishing to vote must prove their shareholding by April 21, with the AGM scheduled for May 13. A dividend of 4.40 euros per common share is proposed for the past fiscal year.
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Investors have responded cautiously to these developments. BMW shares closed at 83.62 euros on Friday, reclaiming the 50-day moving average but remaining roughly 13 percent below the December high. The stock is in negative territory for the year.
All eyes are now turning to China, where BMW is mounting a major offensive at the upcoming Auto China show. The company will present a record lineup of 16 models, including four world premieres tailored specifically for the Asian clientele. Analysts, however, remain watchful of the intense price competition in this critical market. Jefferies recently reiterated its “Hold” rating on the stock with a 90-euro price target, citing precisely those competitive pressures.
Beyond new models, BMW is advancing its supporting technology. Since mid-March, drivers in Germany can use public fast-charging stations without a prior contract, with the vehicle authenticating automatically via a BMW account. Over 1,400 charging points from providers like Mer in Germany and Austria are already integrated. On the battery front, BMW is collaborating with Rimac on next-generation high-voltage storage systems aiming for higher energy density and faster charging. For the 2026 model year, the charging capacity for the plug-in hybrid X5 will increase to 11 kilowatt.
Production is also ramping up to meet new demand, with the new i3 scheduled to roll off the assembly line in Munich starting in August and the Debrecen plant operating in two shifts. The coming weeks will be pivotal for investor sentiment. The market’s reaction to the share structure proposal at the May 13 AGM, coupled with the reception of BMW’s new models in Beijing, will determine whether the stock can challenge resistance at 87 euros—the current 100-day line—or risk a retest of support at 82 euros.
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