Mexican Media Brands
BMW Sales Soar but Profits Sag
BMW AG reports its third-quarter car sales grew 11% to a record 481,700 units, and net profit rose 3% to €1.3 billion.
#economics
Share
BMW AG reports its third-quarter car sales grew 11% to a record 481,700 units, and net profit rose 3% to €1.3 billion.
But group revenue was flat at €18.8 billion for the July-September period, and profits before interest and taxes fell 4% to €1.9 billion. The company's EBIT has lagged year-earlier levels all year.
BMW attributes its slumping third-quarter operating profit to competition, the cost of developing advanced technologies and the impact of a 5% expansion in its workforce.
The company's motorcycle revenue fell 10% to €324 million, and the unit's operating loss deepened to €4 million from a €3 million loss in the third quarter last year.
BMW affirms its full-year target for record unit sales and group profit before taxes unchanged from 2012.
RELATED CONTENT
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
Fuel Economy Gains in July
What you’re looking at here is a sales-weighted fuel economy chart (the numbers in the white boxes represent miles per gallon) that was put together by two diligent researchers, Michael Sivak and Brandon Schoettle, of the University of Michigan Transportation Research Institute.