MUNICH (dpa-AFX) - Car buyers have to pay more for electric cars than for petrol cars, but for car manufacturers like BMW they are squeezing the profit margin: "We are earning money. But there can be no question of equal margins at the moment," BMW CFO Walter Mertl told journalists in Munich. This is likely to remain the case in the coming years.

With the "New Class" BMWs coming onto the market from 2025, which are based on a platform specially developed for electric cars, including new battery cells and new software, the Group wants to significantly reduce its production costs. "With the New Class, the margins are getting closer," said Mertl. But "even in 2026, we still won't have parity." In addition, the changeover will take time: the current "fifth generation of our BEV powertrain will still be around until the 2030s", said the CFO.

Last year, BMW sold 15 percent of its cars with all-electric drive systems; this year, the target is 20 percent. "I think the tipping point for combustion engines was last year. The CO2 regulation in many regions speaks against further growth," said Mertl. "The current sales plateau for combustion cars will continue and then fall slightly. Growth is now increasingly coming from e-cars." Last year, BMW sold almost 2.6 million cars, and the Group is aiming for sales of three million cars by 2030.

The current "order backlog extends into the second quarter. The demand is still there," said Mertl. However, increasing competition is also putting pressure on sales prices: "Despite our strong price discipline, discounting will be an issue in certain price bands."

With a view to competitor Mercedes-Benz, which relies heavily on very profitable luxury cars, the BMW CFO said: "Of course, it is already possible to have a sales share of more than ten percent in this high-priced segment. We have around five percent." But BMW is not doing badly, the 7 Series is doing well. "We have the potential to exceed five percent."/rol/DP/nas