Emissions regulations and trade policy dominated the discussion at BMW following the publication of its H1 2024 results. While management insists that the company remains strongly positioned for all regulatory requirements and has maintained the full-year earnings outlook, it is clearly not happy with the direction of policymaking in Europe.
Chief Executive Oliver Zipse kicked off the earnings call with an observation of how the automotive sector has increasingly become the focus of geopolitical interests: “The issues range from growing regulation to protectionist measures in the major economic areas of the US, China, and the EU.” He highlighted global competition for raw materials and access to high-voltage batteries, semiconductors, and AI applications. While governments are pushing to localise their supply chains for these strategically critical technologies, BMW reasserted its commitment to open markets and opposition “to artificial barriers such as punitive tariffs.”
