Mexican Media Brands
BMW’s Profit Drops 6%
BMW AG reports a gain in car sales but declines in revenue and net profit for the second quarter of 2018.
#economics
Share
BMW AG reports a gain in car sales but declines in revenue and net profit for the second quarter of 2018.
Retail car sales for the period rose 1% to 637,900 units worldwide. But currency exchange factors trimmed group revenue by 3% to €25 billion ($29 billion), as a 5% decline in motorcycle sales offset flat revenue for automotive operations.
The group’s net profit dropped 6% to €2.1 billion ($2.4 billion) for April-June. Pretax earnings fell 6% overall but plunged 14% to €2.1 billion for automotive. The company sites “extremely high” spending on electrification and other technologies.
BMW affirms its previous guidance for full-year results: a slight gain in unit sales and revenue that will set new highs in 2018 with flat pretax profits.
RELATED CONTENT
-
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.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.