BMW Reports 8.8% Q3 Sales Boost, Targets Lower EBIT Margin
BMW has reported a significant boost in global sales, with a notable 8.8 percent increase in the third quarter compared to last year. The German automaker has seen strong winds from Europe and the US, although it faces challenges in China. BMW has also shared a mix of steady figures and strategic moves, likely to please investors.
BMW delivered over 587,700 vehicles to customers in the third quarter, with the core BMW brand accounting for over half a million of these. The company has sharpened its targets for the current fiscal year, now expecting an EBIT margin closer to the lower end of 5 to 7 percent.
BMW's electric and plug-in hybrid models have seen a 15 percent increase in sales, reaching approximately 470,000 vehicles. The company is exploring new paths to broaden and modernize its image, such as the Art Car World Tour and partnerships with electric surf and paddleboard companies like Sipaboards. Despite these initiatives, BMW has not been reported to have made direct investments in these areas recently.
BMW aims to achieve more than 2.5 billion euros in free cash flow and a return on capital employed of 8 to 10 percent. The company's strategy focuses on maintaining the momentum from the third quarter while continuing to broaden and modernize its image.
