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HomeMarketBMW Q3 automotive margin grows to 8.9% By Reuters

BMW Q3 automotive margin grows to 8.9% By Reuters

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© Reuters. FILE PHOTO: A logo of German luxury carmaker BMW, is seen ahead of the company’s annual news conference in Munich, Germany, March 20, 2019. REUTERS/Michael Dalder

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BERLIN (Reuters) – BMW saw a rise in its automotive margin on earnings before interest and taxes (EBIT) in the third quarter to 8.9% from 7.8%, the carmaker said on Thursday, citing a high-value product mix, solid pricing and stable used car prices.

BMW reported a group net profit of 3.18 billion euros ($3.12 billion), up nearly 23% from 2.58 billion euros in the same period last year.

It confirmed its outlook for an EBIT margin of 7-9% for the automotive segment, saying that positive price and mix effects as well as robust used car markets, should partially offset a slight decline in deliveries and rising raw material and energy prices.

($1 = 1.0187 euros)

Story Credit: investing.com

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