BMW’s net profits more than doubled in the second quarter as Chinese customers rushed to showrooms to snap up its premium
German-engineered saloon cars, helping it achieve profit margins ahead of most of its rivals.
The carmaker said second-quarter earnings at its car unit jumped by 83 per cent from the same period a year ago to €2.4bn ($3.4bn), ahead of analysts’ consensus forecasts of €2.1bn. Group net profits in the three months to the end of June increased to €1.8bn from €834m, while revenues rose 17 per cent to €17.9bn.
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