Business & Finance
BMW third-quarter profit falls about 15% as China deliveries drop
BMW also lowered its current-year outlook, citing restructuring that includes 8,000 job cuts at home.
The short version
- BMW reported third-quarter net profit down nearly 15% to 1.45 billion euros, with sales down nearly 6%.[Deutsche Welle]
- BMW car deliveries in China fell 24.8% in the quarter.[Deutsche Welle]
- BMW lowered its current-year outlook, and CEO Milan Nedeljkovic said the company would intensify structural measures.[Deutsche Welle]
Key facts
- BMW reported third-quarter net profit down nearly 15% to 1.45 billion euros.[Deutsche Welle]
- BMW sales fell nearly 6% to 30.45 billion euros in the third quarter.[Deutsche Welle]
- BMW car deliveries in China fell 24.8% in the third quarter.[Deutsche Welle]
- CEO Milan Nedeljkovic said the company would intensify and accelerate structural measures.[Deutsche Welle]
- BMW lowered its current-year outlook, citing faster restructuring that includes 8,000 layoffs in its home market.[Deutsche Welle]
- BMW reported an 11% drop in third-quarter pre-tax earnings to 2.1 billion euros.[The Guardian]
- BMW revenue fell 6% to 30.4 billion euros in the third quarter.[The Guardian]
What remains uncertain
- The verified reporting does not give the size of BMW's revised outlook, so the scale of the cut is unclear.[Deutsche Welle]
- Outlets cite different profit measures, with net profit down nearly 15% and pre-tax earnings down 11%.[Deutsche Welle · The Guardian]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.
- BMW reports lower Q3 earnings as China woes mountDeutsche Welle
- BMW warns on profits as it counts cost of plan for 8,000 job cutsThe Guardian - World