Recovery ‘not in sight’ says BMW

[efoods]Carmaker BMW has said it sees few signs of a lasting economic recovery after it reported profits down by three-quarters for the April to June period.

Net profit was 121m euros ($174m; £103m), down 76% from a year ago, with car sales down by nearly a fifth.

Despite “some tentative positive signs, a lasting and wide ranging recovery is not yet in sight”, BMW said.

Separately, figures showed that new car sales in Germany rose by 30% in July compared with a year earlier.

Earlier on Tuesday, the world’s biggest carmaker, Toyota, reported a big quarterly loss after sales slumped.

Read entire article

  Print this page.

Comment Rules

Comments are closed.