BMW's Domestic Sales Surge and Steyr EV Motor Ramp-Up Count for Little as Stock Stays in the Doldrums
Published on 07/09/2026 at 03:24 | Redaktion boerse-global.de
BMW is firing on multiple operational cylinders — posting the highest monthly registrations in Germany among its luxury peers, scaling up electric motor production at its Austrian plant, and climbing to second place in the country’s EV rankings. Yet the share price continues to slide, trapped in a technical bear market as China’s demand slump casts a long shadow over the Bavarian carmaker’s bottom line.
Germany’s Kraftfahrt-Bundesamt recorded 26,119 new BMW registrations in June, a year-on-year jump of 18.6 percent. That comfortably outpaced Mercedes-Benz (23,728 units, up 5.9 percent) and Audi (19,097 units). The strong month pushed BMW’s first-half total to 126,766 vehicles, up 6.5 percent, while Mercedes slipped 0.8 percent to 125,960. In the United States, second-quarter deliveries rose 13.0 percent to 102,713 units, with passenger cars and SUVs contributing almost equally.
Separately, the group’s engine plant in Steyr, Austria, switched to two-shift operation on July 6, cranking out more than 4,000 electric drive units per week for the upcoming “Neue Klasse” models, including the iX3 and the i3. Production floor space has been expanded by around 60,000 square meters to accommodate the ramp-up. The investment is already helping BMW gain ground at home: the brand leapfrogged from fifth place early this year to second in German electric-vehicle registrations, with roughly 19,000 units, trailing only Volkswagen.
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None of this has stopped the stock from trending lower. The shares, which had already shed 38.32 percent since the start of 2026, fell further on Wednesday to 58.78 euros. That came only days after the equity touched a 52-week low of 57.06 euros on June 30. At 59.16 euros, the price is 15.38 percent below its 50-day moving average of 69.92 euros and 28.06 percent below the 200-day average of 82.23 euros. The 14-day relative strength index of 33.3 signals oversold conditions, while 30-day annualized volatility has climbed to 31.62 percent.
The disconnect between strong western sales and a sinking share price is anchored in China, where BMW’s first-quarter deliveries fell 10 percent amid a broader 17.5 percent contraction in the country’s passenger-car market. The company has already slashed its profit guidance for the automotive division, and while it reaffirmed a target of more than 2.5 billion euros in operating free cash flow for the full year, along with a dividend payout ratio of 30 to 40 percent, investors remain skeptical that the Chinese headwind will abate any time soon.
With the half-year earnings report scheduled for July 30, the market will have its first full look at how much the electrification ramp is costing and whether the robust June numbers from Germany and the US can compensate for China’s drag. Until then, the stock appears stuck between a strong operational floor and a weak sentiment ceiling.
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