BMW Group sales drop slightly in Q3

Mon Oct 10 2022
Austin Collins (563 articles)
BMW Group sales drop slightly in Q3

BMW (BMWG.DE) sold nearly as many cars in the third quarter as it did in the same period a year before, after the war in Ukraine and supply shortages led to a drop in deliveries in the first half of 2022, said the German carmaker on Monday.

Group sales were down 0.9% compared with the same quarter of 2021, to 587,795 vehicles. That’s a smaller dip than seen in previous quarters, when lockdowns in China and the lack of chips had made things difficult for the Munich-based company.

Business in China was especially strong, up 5.7%, as well as in the United States, which saw an increase of 3.8%. Europe, on the other hand, saw an 11.1% decrease in the third quarter.

For the first nine months of 2022, the carmaker saw a year-on-year fall of 9.5% for Group sales to 1.75 million vehicles.

The carmaker confirmed its full-year forecast for 2022 of achieving sales levels slightly below the previous year.

Tags BMW
Austin Collins

Austin Collins

Austin Collins is our Europe, Asia, & Middle East Correspondent. He covers news related to Stock Market. In past he has worked for many prestigious news & media organizations. He is based in Dubai