German automaker BMW has reported a 23% increase in third-quarter profit thanks to robust demand for pricier luxury models, but it warns that soaring inflation could limit purchases from consumers.– AFP pic, November 3, 2022.皇冠网址app（www.hg108.vip）是一个开放皇冠官方网址代理APP下载、皇冠官方网址会员APP下载、皇冠官方网址线路APP下载、皇冠官方网址登录APP下载的官方平台。皇冠体育官方网址APP上最新登录线路、新2皇冠官方网址更新最快。皇冠体育网址APP开放皇冠官方会员注册、皇冠官方代理开户等业务。
GERMAN automaker BMW reported today a 23% increase in third-quarter profit thanks to robust demand for pricier luxury models, but it warned that soaring inflation could limit purchases from consumers.
The Munich-based group said it had booked a net profit of nearly €3.2 billion (RM14.98 billion), up from €2.6 billion between July and September last year.
Car deliveries, however, were down nearly 1% over the period, as the industry continues to grapple with supply chain disruptions and Covid lockdowns in China.
BMW said “higher prices” for its premium vehicles had helped deliver a “solid” third quarter.,
The group said it was on track to meet its full-year earnings targets. Although the overall sales volume was expected to be “slightly lower” than in 2021, sales of fully-electric vehicles should still double, it said.
“The market success of our fully-electric models, in particular, means we can look forward to the coming months with confidence,” CEO Oliver Zipse said in a statement.
With many countries bracing for a recession as Russia’s war in Ukraine sends energy prices higher and central banks raise interest rates to tame red-hot inflation, the group warned that customer demand would slow in the months ahead.
“High inflation rates and interest rate hikes are causing conditions for consumers to deteriorate, which will impact their purchasing behaviour in the coming months,” BMW said. – AFP, November 3, 2022.
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