MUNICH: The world's largest maker of luxury cars Bayerische Motoren Werke reported increased Q2 profits thanks to higher sales of the BMW 3-Series sedan and station wagon models.
Net income rose to €787 million ($1.0bn; £537.5m) from a restated €670m in the year-ago period, while revenue rose 8.7% to €13.2 billion.
Opines Jens Ehrhardt of Munich firm Jens Ehrhardt Kapital: "BMW is probably the best among the three major German carmakers." He also noted (with a seeming touch of regret) that "higher profit margins are all investors care about at the end of the day."'
© Copyright 2017
All rights reserved including database rights. This electronic file is for the personal use of authorised users based at the subscribing company's office location. It may not be reproduced, posted on intranets, extranets or the internet, e-mailed, archived or shared electronically either within the purchaser's organisation or externally without express written permission from WARC.