BMW posts revenue of €26.7B in Q3, up 7.9% YoY

Wednesday, 06. November 2019 08:15

Bayerische Motoren Werke AG reported on Wednesday that its revenue for the third fiscal quarter of 2019 landed at €26.7 billion, rising 7.9% year-over-year and exceeding market expectations. The company's operating profit increased 33% to €2.29 billion in the third quarter, while the automaker's net profit reached €1.5 billion, rising 11.5% year-over-year.

The report further added that it delivered 613,361 vehicles to customers in the third quarter, marking a 3.6% jump compared to the same period a year ago.

"At the nine-month stage, we are well on our way to achieving our targets for the year as a whole," chairman Oliver Zipse said. "However, we are looking further into the future, having recognized that far-reaching technological transformation is a great opportunity for the BMW Group. I am convinced that our business model will only benefit from this. The vehicle of the future, with all its integrated digital functions, is a high-tech product of a complexity that is still underestimated," he pointed out.

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Breaking the News / GG