According to the European version of the car news, BMW Group said that the group's second-quarter pre-tax profit was 2.75 billion euros (about 21.8 billion), down 6.3% per cent year-on-year, after rising raw material prices and delayed purchases by Chinese consumers.
BMW's second-quarter earnings showed a 6.3% per cent drop in earnings before the quarterly interest-rate tax, while the pre-tax profit margin for motor business was down from 10.1% in the same period last year to 8.6%, while car deliveries in the quarter rose by 0.7%. Evercore, an ISI analyst at the Market analysis agency, said BMW's business had a quarterly profit margin of 9.3%, slightly above Audi's 9.2%, but below 9.6% of Mercedes-Benz's.
In this respect, BMW CEO Harald Krueger said the company will continue its efforts to better meet future needs.
In addition, BMW has previously announced that the vehicle complies with the Global light Vehicle test procedures (WLTP) adaptability work, so analysts believe that BMW is expected to pass the WLTP test.
At the same time, BMW reiterated its 2018-year performance target of a small increase in the number of deliveries and revenues from the car business and a pre-tax profit at last year's level. Chinese Market Slowdown | BMW's two-quarter earnings fall 6.3%