The chart above displays the total personnel expenses of the BMW group from 2014 to 2022 in millions of Euros. In 2022, BMW group’s personnel expenses increased sharply to €13,932 million compared to €12,286 million in 2021.
Personnel Expenses of BMW 2014-2022
(Amounts in € million).
The personnel expenses of BMW include Wages and salaries, Pension and welfare expenses, and Social insurance expenses.
BMW’s personnel expenses have remained flat over the past five years. The company spent € 12,286 million in 2021 on employees compared to € 12,244 million in 2020.
In 2020, the personnel expenses of BMW declined slightly (around 200 million Euros), compared to the previous year. Its personnel expenses in 2019 stood at € 12,451 million and fell to € 12,244 million in 2020.
In 2018, BMW’s personnel expenses grew to around 12.5 Billion Euros from around 12 Billion Euros the previous year. The company spent around 10.25 Billion Euros on wages and salaries in 2018, around 1.4 Billion on pension and welfare expenses and around 843 Million Euros on social insurance expenses.
|Year||Personnel Expenses (€ million)|
About BMW Group:
The BMW Group was founded on 7 March 1916. the full form of BMW AG is ‘Bayerische Motoren Werke AG’. Today BMW is one of the leading manufacturers of premium cars and motorcycles. It owns four brands – BMW, MINI, Rolls-Royce, and BMW Motorrad.
The BMW Group has 31 production and assembly facilities in 15 countries and a global sales network. the number of employees working for the group in 2020 was 120,726. The company delivered more than 2.3 million (2,325,179 total) passenger vehicles during 2020 and sold more than 169,000 (169,272 total) motorcycles worldwide.
The net revenue of the company for 2020 was € 98,990 million, having declined. by 5% compared to the previous year. The group generated a net profit of 3.86 billion Euros in 2020, down 23% compared to the last year.