BMW Loses Almost $800 Million as Sales Slide During Lockdowns
4 years, 4 months ago

BMW Loses Almost $800 Million as Sales Slide During Lockdowns

News 18  

FRANKFURT BMW expects to make a profit this year if demand continues to recover, despite posting a record loss for its car division in the second quarter after sales slumped 25% because of coronavirus lockdowns, it said on Wednesday. “What matters now is how robust this upward trend is and when individual markets will follow suit,” said Chief Executive Oliver Zipse, adding that its overall cars sales in July were higher than last year. Jefferies analyst Philippe Houchois said BMW’s margin forecast for the year suggested a healthy recovery in the second half of 2020, even though the second-quarter results were below the consensus. “We are now looking ahead to the second six-month period with cautious optimism and continue to target an EBIT margin between 0% and 3% for the automotive segment in 2020,” Zipse said in a statement.

Second Bmw Zipse Sales Slide  lockdowns  bmw  800  second  expected  deliveries  million  loss  2020  sales  slide  loses  cars  margin

History of this topic

BMW and Mercedes-Benz sales plunge in China as luxury car slowdown worsens
2 months, 2 weeks ago

BMW and Mercedes-Benz sales plunge in China as luxury car slowdown worsens

Hindustan Times  

BMW AG and Mercedes-Benz Group AG saw car sales slump in China in the third quarter as weak consumer sentiment in their biggest market weighed on luxury spending. An interior of a BMW i7 electric car is seen during a press conference announcing a joint venture between Tata Technologies and BMW Group, in Mumbai, India, October 8, 2024 {{^userSubscribed}} {{/userSubscribed}} …

BMW braking system recall of 1.5M cars contributes to auto maker’s decision to cut back 2024 outlook
3 months, 2 weeks ago

BMW braking system recall of 1.5M cars contributes to auto maker’s decision to cut back 2024 outlook

Associated Press  

NEW YORK — BMW is lowering sales and earnings targets for the 2024 fiscal year, in a move the luxury German car maker said was partially triggered by hefty expenses of addressing a braking system recall that impacts more than 1.5 million vehicles worldwide. Munich-based BMW Group said Tuesday that actions related to addressing a faulty integrated braking system, made …

BMW suffers £3.7bn slump over major problems with brakes
3 months, 2 weeks ago

BMW suffers £3.7bn slump over major problems with brakes

The Telegraph  

BMW will recall about 1.5m vehicles over problems with their brakes, wiping €4.3bn off the value of the German carmaker. The company, which also makes Rolls-Royce and Mini, said the product recall will have a “negative worldwide sales effect in the second half of the year”. Shares plunged by as much as 9.6pc as it said it would take a …

BMW sold 594,533 cars in the first quarter of 2024, still low on profits: Know-why?
7 months, 2 weeks ago

BMW sold 594,533 cars in the first quarter of 2024, still low on profits: Know-why?

India TV News  

BMW, a German car manufacturing brand has reportedly made less profit in the first quarter of 2024. The model changeover of BMW's important 5 Series vehicle hurt the figures, as did the higher proportion of fully electric cars, which are less profitable to sell for the company. Some call this transformation -- for us, it is continuous progress.” The company's …

EVs fuel BMW's lead in China
11 months, 2 weeks ago

EVs fuel BMW's lead in China

China Daily  

The 5 millionth vehicle of BMW Brilliance Automotive Ltd is seen in Tiexi district of Shenyang, Northeast China's Liaoning province, in February 2023. The BMW Group sold 824,932 BMW and MINI vehicles in China last year, up 4.2 percent year-on-year, said the German premium carmaker on Tuesday. "New competitors, products and technologies created an intensely competitive Chinese automotive market in …

Top end BMW cars sell faster, clocks over 100% sales in H1
1 year, 5 months ago

Top end BMW cars sell faster, clocks over 100% sales in H1

Deccan Chronicle  

PUNE: BMW, India’s second biggest luxury car maker, on Monday said sales of its top end vehicles, which it calls the luxury class, priced over Rs 1.50 crore were growing over 100 per cent with a waiting period running into over four months. “In the first half of this year, our luxury class vehicles surged 128 per cent compared to …

BMW Group car sales in H1 grows 5%, motorcycle sales up 50%
1 year, 5 months ago

BMW Group car sales in H1 grows 5%, motorcycle sales up 50%

The Hindu  

BMW Group India reported 5% growth in sales of cars in the January to June 2023 period owing to heavy demand for its luxury vehicles. Vikram Pawah, president, BMW Group India said, “We have achieved the landmark highest ever half-yearly, quarterly and June monthly sales. Every product launched this year is extremely desirable and in tremendous demand.” He said the …

BMW sees full-year drop in output amid volatile second half
2 years, 4 months ago

BMW sees full-year drop in output amid volatile second half

Hindustan Times  

BMW lowered its output forecast and warned of a highly volatile second half on Wednesday, pinpointing supplies of energy in Europe and chips worldwide as the two crucial factors to the carmaker hitting full-year earnings targets. BMW expects a solid sales increase in the second half but said total deliveries will fall short of last year's record highs of 2.52 …

BMW muscles through chip shortage with profit jump
3 years, 1 month ago

BMW muscles through chip shortage with profit jump

Live Mint  

BMW AG earnings jumped to beat expectations after higher vehicle prices and prioritizing money-spinning models like the $75,000 X7 SUV helped the company offset output reductions due to the dearth of chips. Group earnings before tax surged 50% to 2.9 billion euros in the third quarter, BMW said Wednesday, compared with an average analysts’ estimate of 2.5 billion euros. BMW’s …

BMW India, Mini India: BMW Group India's total car sales decline 31.50 per cent in 2020
3 years, 11 months ago

BMW India, Mini India: BMW Group India's total car sales decline 31.50 per cent in 2020

India Today  

BMW Group India has reported a decline of 31.50 per cent in its total car sales to 6,604 units in 2020. BMW India's sales in 2020 were 32.31 per cent lower in comparison to 2019 when the company had sold 9,000 units. Contrary to BMW India and Mini India, BMW Motorrad's sales grew 6.66 per cent to 2,563 units in …

Discover Related