Munich's business is still growing, but not as quickly as many predicted
6 November 2007

BMW has proven that no European brand is immune to financial underachievement by announcing weaker-than-expected quarterly results for the July to September period.The German manufacturer’s profits were up year-on-year – by 6.3 per cent, at £533m – but this was a smaller jump than financial experts had predicted. BMW says the figure can be attributed to higher costs of raw materials and a string of expensive product launches.Probably the biggest factor, though, is the weak American dollar; with the Euro hitting an all-time high of $1.4531 today, BMWs have never been so expensive in one of its most important markets.All is not lost, however; BMW stated that it is “well on the way” to meeting its sales targets for 2007. Sales of Mini are up over 25 per cent year-on-year, and the Drophead Coupé helped Rolls-Royce to deliver 285 cars in the third quarter, a rise of 51.9 per cent over the same period in 2006.

Find an Autocar car review

Driven this week

Join the debate

Comments
1

6 May 2016
How old is this article? It sounds like it was talking about the big slump in 2008 due to the whole Lehman Brothers thing. And in that case, everybody wasn't doing so hot in that period, what more a luxury car manufacturer right? I mean, if people are going to be losing tens and hundreds of thousand of dollars on the stock market, you'll not be seeing a lot of people have the spare funds for a new car either.

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week