BMW electric vehicle sales fell 20% in the first quarter

Despite the sharp drop in quarterly profits, BMW was able to retain investor loyalty. The fact is that the actual indicators, although weak, still exceeded the pessimistic forecasts. Carscoops reports this.

Pre-tax profit of the entire BMW group amounted to 2.3 billion euros (approximately 202.5 billion rubles), which is 24.6% lower than a year ago. Analysts had expected 2.2 billion euros, so the actual result was slightly better than predicted. However, if you look only at the automotive division, the situation is worse: profits fell by 33.5% to 1.27 billion euros (about 111.8 billion rubles). The company’s overall revenue fell by more than 8%.

Pressure on BMW is increasing from all sides: China has reduced supplies, competition is growing, and the threat of American tariffs is emerging. In addition, global sales of the brand’s electric vehicles fell 20.1%, partly due to the elimination of tax incentives in the United States. The share of electric trains in the group’s total sales decreased by 17.2% and amounted to 15.5%.

The company maintained an unchanged forecast for the current year, which indicates its confidence in overcoming difficulties. According to Reuters, BMW CEO Oliver Zipse downplayed the possible introduction of 25 percent tariffs by US President Donald Trump, calling it more of a negotiating maneuver than a real measure.

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