Business · Companies · 11 hrs ago

BMW deliveries fall as China sales drop nearly a quarter

BMW deliveries fall as China sales drop nearly a quarter

BMW delivered 551,072 vehicles in the third quarter, down 6.3% from a year earlier.

The main pressure came from China, where BMW sold nearly a quarter fewer cars than in the same period last year.

Across the first nine months, BMW deliveries fell 4.9% to about 1.7 million cars and motorcycles.

China's car market has shrunk by more than a fifth this year as electric-car subsidies ended, the economy weakened and fuel prices rose.

German carmakers have been hit particularly hard because they mainly offer combustion-engine vehicles in China, a segment that has fallen sharply.

Even so, BMW performed better than Mercedes and Volkswagen over the first nine months: their deliveries fell 7% and 9%, respectively.

BMW's new electric iX3 is due to reach China in November, as the company seeks to turn around its performance there.

1 source

Related