BMW announced better results than expected

BMW announced better results than expected

Although the balance is better than estimated, it is 19% less than a year ago. Impacted by the drop in sales in China.

The German automaker bmw announced on Wednesday a net profit of 2.95 billion euros ($3.16 billion) in the first quarter, higher than expectations, although it is 19% less than a year ago.

The 2.5% increase in sales of BMW brand vehicles between January and March, up to 530,900 carsthe higher proportion of 100% electric vehicles (78,700) and higher priced vehicles had a positive impact on sales.

However, the German group, which also includes the brands Mini and Rolls-Royce reduced their turnover by 0.6% year-on-year in the January-March periodwhich stood at 36.6 billion euros (38.6 billion dollars).

The drop is explained by the fact that fewer high-end vehicles were sold in China and by adverse currency effects.

For this year, BMW expects stable sales, driven by models in the higher price segment, such as the 7 Series and 5 Series.

Source: Ambito

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