In the second quarter (Q2), group profit before financial result fell sharply to a negative amount of 666 million euros, down from 2.2 billion euros at the same quarter last year. However, a "strong performance" by the BMW Brilliance Automotive Ltd. joint venture in China contributed to an improved financial result. … [Read more...] about Net profit of German carmaker BMW plummets more than 80 pct in H1
Rolls royce top gear
BMW reports loss for 2nd quarter but sees rebound in China
Sales fell 25% to 485,500 cars under the BMW, Mini and Rolls-Royce brands. Revenues fell 10% to 43.2 billion euros. The company stayed with its financial forecast for the full year, saying that its worldwide auto deliveries would be “significantly lower” than last year’s, and that its operating margin in its automobile business would be between zero and 3%. … [Read more...] about BMW reports loss for 2nd quarter but sees rebound in China
BMW losses almost $800 million as sales slide during lockdowns
FILE PHOTO: The BMW M8 is seen during the media day of the 41st Bangkok International Motor Show after the Thai government eased measures to prevent the spread of the coronavirus disease (COVID-19) in Bangkok, Thailand July 14, 2020. REUTERS/Jorge Silva/File Photo … [Read more...] about BMW losses almost $800 million as sales slide during lockdowns
BMW loses almost $800 million as sales slide during lockdowns
‘CAUTIOUS OPTIMISM’ The COVID-19 pandemic has already hit carmakers such as Fiat Chrysler (FCHA.MI), Ford (F.N) and Daimler (DAIGn.DE) particularly hard at time when the auto industry is ramping up spending to clean up their combustion engines as well as developing low-emission technologies to conform with stringent European anti-pollution rules. … [Read more...] about BMW loses almost $800 million as sales slide during lockdowns
Spain’s Felipe VI promises a ‘renewed monarchy’ as he is sworn in as king
Wearing a Spanish flag around his neck, Ivan Hernandez Lillo welcomed the idea of a new, younger king. The 19-year-old saw the monarchy as crucial to the country's stability, he said, acknowledging that many of his peers disagreed. "But even the fact that they can go out and protest against the monarchy is in part thanks to the monarchy." … [Read more...] about Spain’s Felipe VI promises a ‘renewed monarchy’ as he is sworn in as king
