BMW Sees Pricing, Electric Vehicles Supporting Growth -- Update
2023年8月3日 - 8:21PM
Dow Jones News
By David Sachs
BMW is expecting pricing and electric vehicles to help drive
growth in the second half of the year, though supply-chain issues
should continue to be a headwind, the German premium car maker said
Thursday.
"We expect the positive business trend to continue in the second
half of the year, particularly due to the ongoing strength of the
order bank and an expected improvement in the availability of
vehicles," Chief Financial Officer Walter Mertl said.
In the second quarter, BMW reported sales of 37.22 billion euros
($40.71 billion), up from EUR34.77 billion in the same period a
year earlier. Net profit attributable to shareholders declined
slightly to EUR2.81 billion from EUR2.84 billion.
Strong pricing and electric vehicles, which more than doubled to
around 133,900 in the first half of the year compared with the same
period in 2022, drove growth, the company said.
BMW raised its outlook for the year earlier this week. As
reported, it now expects an operating margin in the auto division
of between 9% to 10.5%, up from a previous forecast of 8%-10%. The
company also said it now expect solid growth in deliveries,
compared with a previous forecast for slight growth.
The company said global auto markets are likely to grow this
year despite a subdued outlook for the economy, and that it will
focus on pricing in the coming half.
"While we are seeing the first signs of normalization on the
market, we remain focused on price discipline," Mertl said.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
August 03, 2023 07:06 ET (11:06 GMT)
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