BMW Second-Quarter Profit Meets Expectations on Europe Demand - swissinfo.ch
(Bloomberg) -- BMW AG reported second-quarter profit in line with analyst expectations as a recovery in European car demand helped offset a sales slowdown in China. Earnings before interest and taxes fell 3 percent from a year earlier to 2. 53 billion euros, Munich-based BMW said in a statement Tuesday. Profit matched the 2. 54 billion-euro average of 10 analyst estimates compiled by Bloomberg. A cooling economy and a stock market rout have discouraged customers from making large purchases in China, BMW’s biggest national sales market. BMW cut prices and production in the country earlier this year while Ford Motor Co. said in late July that carmakers’ sales there may drop in 2015 for the first time since 1998. BMW is bringing out a new version of the 7-Series as part of a drive... Source: www.swissinfo.ch
