BMWYY Price and Sentiment
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The Tesla Model 3 topped the European electric car sales charts over the first nine months and this provoked a wary reaction from VW, conceding that Elon Musk's company was much more efficient, while BMW cast aspersions about Tesla quality and heritage.
BMW will cut working hours at its east German plant from 38 to 35, in line with its west German factories, it said on Friday, in a move welcomed by the works council as bringing long-awaited equality 30 years after the fall of the Berlin Wall.
Let's just say that BMW customers shouldn't expect discounts right now.
BMW pleased investors with a 50% increase in 3rd quarter profits and joined Mercedes in managing to increase earnings while sales slipped.
BMW is one of several well known automotive companies pushing an electrification strategy.
The German auto maker was less affected by semiconductor supply issues than rivals Volkswagen and Stellantis.
Higher prices and strong electric vehicle sales helped German automaker BMW beat analysts' forecasts on Wednesday with a 42.4% year-on-year increase in third quarter net profit to 2.58 billion euros ($2.99 billion).
German automaker BMW reported third-quarter earnings before interest and taxes of 2.88 billion euros ($3.33 billion) on Wednesday, beating analysts' expectations of 2.34 billion euros, as it offset reduced deliveries with higher prices.
BMW AG on Wednesday backed its guidance for the full year after reporting a jump in third-quarter profit driven by positive effects from pricing and product mix.
German automaker BMW's first sales-ready battery electric i4 models rolled off production lines at its main plant in Munich on Friday, as the company expands its electric offering under industry-wide pressure to reduce emissions.