BMW's 2Q slips 4.3 per cent on rising euro, model launch costs News AutoNews24h.com

BMW's 2Q slips 4.3 per cent on rising euro, model launch costs

Auto News : Auto Industry : BMW : BMW's 2Q slips 4.3 per cent on rising euro, model launch costs

FRANKFURT, Germany (AP) _ Luxury car maker B-M-W says its second-quarter profit slipped 4.3 percent

The Munich-based company says it earned 1.03- (b) billion dollars U-S in the April-to-June quarter, slightly below analyst expectations.

B-M-W says it was the victim of chaotic exchange rates that has seen the euro hit new highs, along with higher costs for the launch of new models.

Despite the dip in profit, sales continued to show strength, rising 11 percent to 20.1- (b) billion-dollars in the quarter as customers opened their wallets for its new models of the Mini and B-M-W sedans.

B-M-W says it still expects to sell a record number of cars this year and that its pretax profit would be higher than last year.

Find the new car you want on cars.com

Related news

Volkswagen says 1st half net profit rises to US$2.69 billion

FRANKFURT, Germany (AP) _ Volkswagen says its profit in the first six months of 2007 rose by more than 65 per cent. Europe's biggest automaker by sales says it earned 2.69 (b) billion ...

BMW drives Q3 profit up 78 per cent, raises outlook

Luxury automaker BMW AG saw its third-quarter net profit leap 78 per cent, driven by increased sales, and raised its sales outlook for the rest of 2007 on Tuesday. The Munich-based automaker earned ...

DaimlerChrysler says 2Q pretax for Mercedes nearly doubles to US$1.65B

FRANKFURT, Germany (AP) _ The Mercedes Car Group of DaimlerChrysler AG saw its pre-tax profit nearly double in the second quarter, the German-American automaker said Wednesday. The company said the Mercedes unit earned ...

Volvo sales

STOCKHOLM (AP) _ Swedish truck and bus maker AB Volvo said Friday its fourth-quarter profit fell 15 per cent to 2.99 billion kronor ($388 million US) as higher ...

Audi's 1st half profit soars on improved sales in China, US and Russia

FRANKFURT, Germany (AP) _ Luxury car maker Audi A-G says its sales and profit soared during the first half of the year. The unit of Volkswagen A-G says the results put it ...

Mercedes Citaro buses with Euro-5 engines

Although the Euro-5 emissions standard is not due to come into force in the EU until 2008/2009, the Mercedes-Benz Bus and Coach Unit has already delivered the first ...

BMW's South Carolina plant ramping up to 240,000 vehicles yearly

The BMW Manufacturing Co. plant in Spartanburg will boost production over the next five years from its current 140,000 vehicles to 240,000 vehicles annually, the company said Thursday. The firm had said in May ...

Hyundai plans to build factory in Russia to meet rising demand

Hyundai Motor Co. said Monday it plans to build a factory in Russia, though key details including the location of the plant and size of the investment remain undecided. Hyundai Motor chairman Chung ...

Automakers BMW, Audi, Mercedes report higher sales, rising demand in U.S., Asia

FRANKFURT, Germany (AP) _ Luxury automakers BMW, Audi and Mercedes reported healthy sales increases for August on Friday, with demand from Asia and the U.S. driving gains amid mixed results in their home ...

BMW hopes to cut costs by about US$8.5B by 2012

Automaker BMW AG said Thursday it hopes to cut costs by about US$8.5 billion by 2012 under a new efficiency drive, and said it will increase production capacity in the U.S. to ...

Run A Car On Water
Convert your car to run on water and gas to save over 40% on fuel costs!

Government & Police Auto Auctions
Find new and used cars up to 90% off retail value!

Get Paid To Drive
Drive a free new car or get paid up to 00 every month to drive your own car like you normally do.

Auto Price Quote
Get a free auto price
quote from Edmunds!