BMW defies the crisis with a record quarter

BMW defies the crisis with a record quarter

The BMW Group was able to increase its earnings strength in the period from July to September 2021. In terms of sales revenue and consolidated profit as well as consolidated net income, it reached a new high in the third quarter. A better product mix and good price enforcement for new vehicles, alongside a stable price trend for used vehicles, have strengthened the company's financial performance.

The company also achieved new record figures for deliveries, sales revenue and consolidated earnings in the nine-month period and confirmed its annual targets at the quarterly conference. 

"The BMW Group shows how profitability and transformation go hand in hand. For us, technological change is a great opportunity to sustainably strengthen our business model. With our focus on climate-neutral mobility, we are therefore consistently driving the company forward and making BMW 'future proof'," said Oliver Zipse, Chairman of the Board of Management of BMW AG.

The earnings before financial result (EBIT) in the group increased to 10,913 million euros as of September 2021. In addition to the above-mentioned positive price enforcement effects for new and used cars, it benefited from the continued low need for value adjustments for credit risks. The proportional release of the provision as part of the EU antitrust proceedings in the second quarter also had a positive effect in the nine-month period.

The return on sales before taxes (EBT margin) was 15.9 percent (2020: 4.3 percent) as of September and 12.4 percent (2020: 9.4 percent) in the third quarter.