Mexican Media Brands
Sales Up, Profits Down at BMW
BMW AG's car sales in the third quarter of 2014 grew 6% to 509,700 units, and group revenue rose 5% to €19.6 billion.
#economics
Share
BMW AG's car sales in the third quarter of 2014 grew 6% to 509,700 units, and group revenue rose 5% to €19.6 billion.
Earnings before interest and taxes jumped 17% to €2.3 billion. The company's profit margin in July-September climbed to 9.4% from 9.0% a year earlier.
But net profit slipped 1% to €1.3 billion for the period. BMW says results were dragged down by higher taxes, more employees, greater selling and administrative costs, a non-cash charge for losses on foreign currency hedges and the reduced value of its stake in carbon-fiber maker SGL Carbon.
BMW affirmed its expectation of a "significant" gain in group EBIT, including 8%-10% for the automotive group.
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.
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data