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BMW increased its profits by 31% thanks to its sales in China

by magictr
October 7, 2020
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BMW increased its profits by 31% thanks to its sales in China
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During the third quarter of the year, the German automaker relied on China and had 8.6% more sales, compared to the same period last year, when the pandemic did not exist. Also, there were good sales in Europe.

BMW increased its profits by 31% thanks to its sales in China

German automaker BMW posted a 31 percent increase in its sales in China in the third quarter, putting its global sales 8.6 percent higher than in the same period last year, the company reported today.

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Specifically, worldwide sales of the BMW brands and its Mini subsidiary were 675,680 vehicles.

However, in the current year, BMW is still 12.5 percent below the first nine months of 2019, due to the decline recorded in the second quarter due to the coronavirus pandemic.

The firm sold 230,612 cars in China in the third quarter (31.1 percent more). But BMW also sold well in Europe, with a total of 275,618 cars (7.1 percent more).

In contrast, in the United States, sales of 78,634 cars in the third quarter represented a decrease of 15.7 percent.

The plug-in hybrid and electric car business grew particularly strongly, with the German automaker's sales rising 46.6 percent. With 54,719 vehicles, however, the segment represents a small part of BMW's business.

Dpa

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