bmw powers through second quarter towards record year
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

BMW powers through second quarter towards record year

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleBMW powers through second quarter towards record year

BMW's growth has been largely driven by increased orders
Frankfurt - AFP

A favourable world auto market helped German carmaker BMW to post profits 11 percent higher in the second quarter than the same period last year, results released on Tuesday showed.

The Munich-based firm said that it had made 1.95 billion euros ($2.2 billion) of profit on 25 billion euros of revenue.

Fuelled by strong results, BMW has "the financial headroom we need to pursue our work on future technologies such as electric mobility and automated driving," chairman Harald Krueger said.

"We forecast slight increases, and hence new record figures, for sales volume and profit before tax in 2016," Krueger went on.

BMW outdid predictions from analysts surveyed by Factset, who had been expecting profits of 1.69 billion euros.

Welcoming the results as "solid", analysts at DZ bank pointed to BMW's higher-than expected profitability on car sales as a key factor making it a "top pick" among German carmakers.

But Deutsche Bank analysts suggested that performance could fade in the second half of the year as the firm faces increased costs.

Unit sales across BMW's three car brands -- BMW, Mini, and Rolls Royce -- hit 605,534 between April and June, a 5.7 percent increase on the same period in 2015.

That brought underlying, or operating, profit to 2.7 billion euros -- eight percent higher than the same period in 2015.

Most of BMW's growth came from Europe and Asia, with unit sales up 11.2 percent and 7.3 percent.

But unit sales in the Americas declined overall by 8 percent, with a double-digit drop of 10.2 percent in the important USA market.

Growth was largely driven by increased orders for flagship models such as the BMW 7 series.

The firm also said that electric models accounted for a larger proportion of vehicles sold.

Customers in the Netherlands and Sweden were particularly keen, with electric cars accounting for double-digit proportions of BMW car sales in June in the two Western European nations.

 

themuslimchronicle
themuslimchronicle

GMT 10:47 2017 Friday ,29 December

European stocks flat in light holiday trading

GMT 16:28 2017 Tuesday ,19 December

Bahrain Bourse daily trading performance

GMT 11:51 2017 Tuesday ,19 December

Stock markets rally as US tax cuts move step closer

GMT 12:32 2017 Saturday ,16 December

Can Bitcoin Survive Central Banks' Scrutiny?

GMT 11:13 2017 Saturday ,16 December

Bitcoin hits new record high as warnings grow

GMT 06:20 2017 Saturday ,16 December

Strong Wall Street lifts European stock markets

GMT 05:28 2017 Friday ,15 December

European stocks and euro sag before rate calls

GMT 16:48 2017 Thursday ,14 December

Bahrain Bourse daily trading performance
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

bmw powers through second quarter towards record year bmw powers through second quarter towards record year

 



Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

GMT 17:45 2017 Friday ,25 August

1400 surgeries performed on Hajj pilgrims

GMT 16:50 2018 Monday ,08 January

Kyrgios claims Brisbane title

GMT 08:50 2017 Wednesday ,08 November

Toyota upgrades full-year net profit

GMT 20:49 2016 Wednesday ,22 June

Jordan's King meets US Official

GMT 15:37 2017 Friday ,27 January

Trump versus the press

GMT 14:36 2016 Monday ,11 April

Barcelona must prove they are world's best

GMT 14:23 2016 Friday ,14 October

Kidman drew on own experience for ‘Lion’

GMT 21:08 2017 Tuesday ,31 January

Motorcity honoured as ‘Distributor Champion’

GMT 13:32 2017 Thursday ,12 January

Baboons make vowel-like sounds, similar to humans

GMT 07:18 2016 Thursday ,19 May

US kills 2 'high-value' Daesh targets
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle