Germany’s BMW is reporting 4.8 billion euros in revenue for the second quarter
FRANKFURT, Germany — BMW reported 4.8 billion euros ($5.7 billion) in web revenue within the second quarter, rounding out a robust earnings season for Germany’s three large automakers as international auto markets proceed to get better from the pandemic — notably on the subject of luxurious automobiles.
The corporate warned, nevertheless, that shortages of digital elements may make manufacturing and gross sales for the remainder of the 12 months “risky.”
The corporate greater than doubled its gross sales of automobiles with electrical motors and stated it had remodeled the air software program updates for two.5 million automobiles this 12 months via improved automobile connectivity.
BMW CEO Oliver Zipse stated the corporate had benefited from “robust buyer demand” however added that “in mild of a variety of prevailing dangers, together with uncooked supplies costs and a scarcity of semiconductors, the second six-month interval is more likely to be extra risky for the BMW Group.”
Your complete auto business is battling a scarcity of semiconductors used for automobile electronics.
Earnings within the quarter rebounded from a lack of 212 million euros in the identical quarter a 12 months in the past, when the preliminary wave of the pandemic led to manufacturing unit shutdowns.