BMW appears to defy the industry downturn. While profits at VW, Mercedes and other major carmakers are slipping, the Munich-based automaker says its third-quarter profit has leapt to €1.7 billion. But there’s a catch.
Breakdown
- BMW's third quarter profit tripled compared to the same period last year, though last year's results were impacted by a recall.
- BMW increased its global sales to 1.8 million vehicles in the first nine months, while Mercedes-Benz and Audi saw declines. 28s
- BMW earned 5.7 billion euros in the first nine months, surpassing Mercedes and Volkswagen Group. 41s
- Analysts credit BMW's consistent long-term strategy for its strong performance, in contrast to strategic missteps by Mercedes and Porsche. 56s
- BMW faces challenges in China, where competition from domestic brands has kept sales flat in the last quarter. 1m 16s