Stock Markets July 10, 2026 05:30 AM

BMW H1 Deliveries Slip as China Weakness Outweighs Gains in Europe and U.S.

Global shipments down 4.2% in first half of 2026 as China sales plunge while Europe and U.S. register growth

By Avery Klein
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BMW Group reported a 4.2% decline in global vehicle deliveries in the first half of 2026, with total automotive shipments of 1,156,742 units. A sharp reduction in China and the wider Asia-Pacific region more than offset sales gains in Europe and the United States. Electrified vehicle volumes and luxury sub-brands also showed mixed results across regions.

BMW H1 Deliveries Slip as China Weakness Outweighs Gains in Europe and U.S.
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Key Points

  • BMW Group global deliveries fell 4.2% in H1 2026 to 1,156,742 vehicles, with Q2 deliveries down 4.9% to 590,962.
  • Regional divergence: Europe deliveries rose 5.4% and U.S. deliveries increased 3.9%, while China sales plunged 20.4% in H1 and 30.2% in Q2.
  • MINI achieved its sixth consecutive quarter of growth driven by fully-electric models, while BMW electrified vehicle volumes were down 7.4% in H1.

Overview

BMW Group delivered 1,156,742 vehicles worldwide in the first half of 2026, a 4.2% decrease versus the same period a year earlier, the company reported on Friday. In the second quarter alone the automaker delivered 590,962 vehicles, down 4.9% year-on-year.

Regional performance

Regional results were split. Europe saw deliveries rise by 5.4% to 496,651 vehicles in the first half, while the United States reported growth of 3.9% with 200,661 vehicles delivered. BMW said the BMW brand "outperforming the overall market" in the U.S.

By contrast, China and the broader Asia-Pacific region recorded a pronounced contraction. China sales fell 20.4% in the first half to 261,773 vehicles and declined 30.2% in the second quarter to 117,815 vehicles. Germany registrations, on a provisional basis, increased 10.2% to 149,135 vehicles in the first half.

Brand-level breakdown

The BMW brand accounted for roughly one million deliveries in the first half, down 6.2% year-on-year. Within that total, BMW reported growth in Europe (up 1.5%) and the U.S. (up 4.7%) and attributed U.S. gains "primarily" to demand for BMW X models. BMW M GmbH delivered 99,595 vehicles in the first half, a decline of 6.0%.

MINI delivered 149,538 vehicles in the first half, an 11.7% increase, marking what the company described as its "sixth consecutive quarter of growth." MINI deliveries in the second quarter were 81,035 vehicles, up 17.1%, with the company saying MINI’s fully-electric models "experienced strong global demand and were the brand’s primary growth driver." Rolls-Royce handed over 2,523 vehicles in the first half, down 9.8%.

BMW Motorrad delivered 102,847 motorcycles and scooters in the first half, down 2.9% year-on-year.

Electrified vehicle performance

Between April and June 2026, the BMW Group delivered 116,807 BMW and MINI fully-electric vehicles, a 5.2% increase in the quarter that the company said reflected the start of deliveries of the new BMW iX3. In Europe specifically, second-quarter fully-electric deliveries were 81,445 units, a rise of 38.0% described by BMW as "double-digit growth."

Despite that quarterly uptick, BMW Group electrified vehicles - comprising battery-electric and plug-in hybrid models - totaled 295,407 in the first half, down 7.4% year-on-year. The company noted that BMW rose to second place in Q2 for registrations of fully electric vehicles in Germany.

Executive comment and product cadence

Jochen Goller, BMW AG board member responsible for Customer, Brands, Sales, said in a statement: "Despite challenges worldwide, we achieved positive sales results in the US and Europe.The Neue Klasse continues to show strong momentum. With the BMW iX3, we are on track to reach the next major milestone of 100,000 new orders. The second Neue Klasse model, the BMW i3, is already seeing strong demand since orders opened ahead of its launch."

The company also noted the new BMW X5 was unveiled in the U.S. in late June, with its market launch expected to generate "positive sales momentum worldwide." No additional volume or timing projections were provided beyond that characterization.

Company snapshot

For context on scale, BMW Group sold 2.46 million passenger vehicles worldwide in 2025 and delivered more than 202,500 motorcycles that year. The company reported profit before tax of ac10.20 billion on revenue of ac133.50 billion for 2025. As of December 31, 2025, BMW Group employed 154,540 people.


What this means

The first-half results show a split market environment for BMW: the group managed modest growth in its largest developed markets while facing a marked downturn in China that weighed on overall shipments. Electrified vehicle deliveries posted a strong quarterly performance in Europe, partially offsetting first-half declines in the group's broader electrified portfolio.

Risks

  • Continued weakness in China could further suppress global deliveries and revenue for the automotive sector, affecting manufacturers and suppliers tied to that market.
  • A decline in electrified vehicle deliveries year-to-date, despite quarterly improvements, introduces uncertainty for segments of the EV supply chain and component suppliers.
  • Slowing luxury sub-brand deliveries, such as Rolls-Royce and BMW M GmbH, could signal softness in high-end demand, with potential implications for premium parts suppliers and dealers.

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