BMW - Q3 2025 Update
"Optimism is an entrepreneurial duty"
Friends of NFTBC
For those following the BMW equity story, this note builds on last month’s sales update. If you are new to NFTBC or curious to know why I’m bothering with a legacy automotive business, please check out the BMW Deep Dive - Part I is free to read.
I remain pretty excited about BMW. While I’m not expecting any miracles in the next couple of quarters. 2026 should start getting interesting on an increasing number of fronts as the year progresses.
You can access all of BMW’s Q3 2025 materials at this link. For anyone new to the NFTBC style of quarterly reporting, please note that I don’t generally rehash the details of the press release - instead my intention is to pick out details pertinent to the investment case and to look for elements of signal. I’ll also pull out some choice quotes from the two phone calls hosted this morning - which includes the subtitle to this post.
[NFTBC does not give advice - please do your own research. I currently own BMW non-voting shares]
