The German car manufacturer BMW announced this Thursday that it achieved a profit of €5,656 million until June of this year, a decrease of 14.6% compared to the same period in 2023, despite the increased sales of electric vehicles.
The decline in sales in the Chinese market, due to a slowdown in demand and intense competition in the world’s largest automotive market, is seen by analysts as one of the main reasons for the German brand’s results in the first half of 2024.
In a statement, BMW highlighted that its turnover amounted to €73,558 million, a decrease of 0.7%, of which €63,009 million were generated by the automotive business, which saw its turnover increase by 0.2%.
The motorcycle division generated revenues of €1,861 million, a decrease of 3.1%, while the financial services division achieved revenues of €19,267 million from January to June, an increase of 9.3%.
In the first half of 2024, the German car manufacturer delivered 1,213,276 vehicles, a slight decrease of 0.1% compared to the same period in 2023.
The BMW brand accounted for the majority of deliveries with 1,096,423 units, an increase of 2.3%, followed by MINI with 114,034 units, a decrease of 18.8%, and Rolls-Royce with 2,819 units delivered, a decrease of 11.4%.
