BMW: Q3 sales impacted by technical problems

(CercleFinance.com) - The BMW Group reported Q3 sales of E32.
4bn, down 15.7% y-o-y.

Car deliveries fell 13% to 540,881 vehicles, while motorcycle sales were down 3.2% at 50,364 units.

EBIT was down 61% at 1,696 million euros, leaving net income down 83% at 476 million euros.

EPS came to E0.64, down 84.8%.

BMW reports that Q3 was impacted by technical measures relating to the integrated braking system (IBS) supplied by a supplier, which blocked deliveries. Thus, 'the technical measures - as well as weak demand in China - weighed on the sales and earnings situation during the July-September reference period.

Against this backdrop, it reports that vehicle deliveries in the automotive segment will be slightly down on the previous year. EBIT margin for 2024 is expected to be in the 6%-7% range. Return on capital employed (RoCE) is expected between 11% and 13%.

In the motorcycle segment, the BMW Group expects customer deliveries to be comparable with the previous year. EBIT margin for 2024 will be in the range of 6% to 7%, with a return on capital employed (RoCE) of between 14% and 16%.


Copyright (c) 2024 CercleFinance.com. All rights reserved.