View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
November 3, 2021

BMW Q3 net profit up 42.4%

BMW has reported strong profit figures supported by soaring sales of high-margin EVs and plug-in hybrids.

By David Leggett

Although BMW Group vehicle deliveries were down 12% in the third quarter, BMW reported a sharp increase in profits as it benefited from a richer sales mix helped by soaring sales of its electrified vehicles.

BMW reported net profit for Q3 of EUR2,584m, 42.4% up on the same quarter last year (with automotive revenues up by just 3% in the same period). Group deliveries of vehicles were put at 593,177 (BMW brand = 524,858 units), some 12.2% down (BMW brand, 10.3% down) on last year’s pace.

BMW Group vehicle production volume in the third quarter was 535,439 units, 15.4% lower than the same quarter of last year.

However, BMW also reported a doubling in sales of electrified vehicles (EVs and plug-ins) in the first nine months of this year at 231, 575 units (+98.9%). Within that, sales of all-electric vehicles grew particularly dynamically, rising by 121.4 % to 59,688¹ units for the nine month period.

BMW said that while Q3 operations were increasingly impacted by supply bottlenecks for semiconductor components, which resulted in production volume shortfalls and lower sales volumes, the impact was ‘more than offset by positive price effects for new and pre-owned vehicles’.

Used vehicle prices have surged in many markets as shortages of new vehicles or delivery waiting times have grown.

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto