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Volkswagen:Quarterly Results/2024 Q2: Difference between revisions
Volkswagen:Quarterly Results/2024 Q2 (view source)
Revision as of 10:58, 2 August 2024
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=== BMW === | === BMW === | ||
* BMW Group automotive EBIT Margin fell to 8.4% from 9.2% last year, missing analysts estimate of 8.7%<ref>https://www.reuters.com/business/autos-transportation/bmws-auto-profit-margin-falls-short-forecast-q2-2024-08-01/</ref>. | |||
* BMW revenue was € 36.94 billion (-0.7%), lower than €40.08 billion estimate. | |||
* BMW said its revenue in China were impacted by rising competition and weak consumer sentiment. "In China, in particular, revenues were impacted by heightened competition and weaker consumer sentiment." | |||
* Automotive earnings were impacted by higher manufacturing and R&D costs. | |||
* BMW confirmed its guidance for the full year (automotive EBIT margin of 8%-10%) betting on sustained demand for its premium vehicles. It expects to see a slight growth in deliveries in 2024. '''In China, it expects the economy to begin to stabilize in Q3.''' | |||
* It pointed out that its outlook for the full year assumes macroeconomic and geopolitical conditions will continue to deteriorate. | |||
* '''BMW pointed out that there is pricing pressure in the U.S market but that pricing for their vehicles is stable. "And with respect to the U.S., for example, pricing momentum is also good because if you have a look for our days of supply, we're still operating on the dealerships with 31 days whilst the industry level or even European OEMs' level is on 55 days. So that means the price pressure is rather on them than on my side. I think that is really relevant to know. And in Europe, we are also still on a stable side," CFO Walter Mertl said.''' | |||
=== Mercedes-Benz === | === Mercedes-Benz === | ||