日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

US EUROPE AFRICA ASIA 中文
Business / Auto Data

Weak China sales may force BMW to revise full-year profit targets

(Agencies) Updated: 2015-08-05 11:19

Bayerische Motoren Werke AG said slowing sales in China may force it to revise this year's profitability goals, challenging new Chief Executive Officer Harald Krueger as he seeks to defend his lead in the global luxury car industry.

Earnings before interest and taxes from automaking are still expected at 8 percent to 10 percent of sales, though "if conditions on the Chinese market become more challenging, we cannot rule out a possible effect" on the forecast, the Munich-based manufacturer said on Tuesday.

BMW has cut production by 16,000 cars in China, its biggest market, Chief Financial Officer Friedrich Eichiner said on Tuesday.

After a stock market rout discouraged customers from making large purchases, those still buying are demanding bigger price cuts, Eichiner said.

Carmakers' sales in China may drop in 2015 for the first time since 1998, Ford Motor Co said in late July.

"BMW has been bitten the most by the economic slowdown in China," Michael Raab, a Frankfurt-based analyst at Kepler Cheuvreux, said in a note. "BMW missed market expectations on most of its key metrics."

The second-quarter margin on automaking fell short of analysts' expectations due to a combination of the aging 7-Series sedan, due to be refreshed this year, and slowing growth in China, Raab said. The company's second-quarter margin on automaking narrowed to 8.4 percent, the lowest level since 2009, compared with 11.7 percent last year.

BMW's margin trailed Mercedes-Benz AG and Audi AG, which reported respective returns on sales of 10.5 percent and 9.8 percent.

The planned new 7-Series is part of BMW's drive to refresh its model line. Luxury-car manufacturing competitors such as Daimler AG are winning buyers with new products such as the latest generation of the Mercedes C-Class mid-size sedan.

"We're still under pressure in China," said Stuart Pearson, a London-based analyst with Exane BNP Paribas. "It's not just a BMW issue, but it's still going to be a wakeup call."

The Chinese car market is slowing more quickly than BMW expected, Krueger told reporters in a conference call on Tuesday.

Industrywide auto sales in China fell 3.2 percent last month, the first decline in more than two years.

The country's auto market has been the key growth driver for luxury-car makers in recent years.

Audi and BMW both reported sales declines for June in China, while demand at Mercedes jumped 39 percent, albeit from a much lower base.

BMW's second-quarter group earnings before interest and tax fell 3 percent from a year earlier to 2.53 billion euros ($2.77 billion). Profit matched the 2.54 billion-euro average of 10 analyst estimates compiled by Bloomberg. Revenue jumped 20 percent to 23.9 billion euros.

Krueger, 49, succeeded Norbert Reithofer as CEO in May. In addition to the economic slowdown, he's contending with potential new competitors, such as technology companies Apple Inc and Google Inc, that are studying whether to enter the auto industry.

BMW is battling to maintain its lead in global luxury car sales, which it has held since overtaking Mercedes in 2005.

Spending requirements for new technology such as self-driving cars and vehicles with electric engines like the i8 sports car are pushing the manufacturer and its rivals into cost-saving initiatives to maintain profitability levels.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 日日操视频| 你懂的91 | 日韩欧美亚洲在线 | 精品综合 | 久草在线观看福利视频 | 爽毛片 | 草草草在线观看 | 在线播放一区二区三区 | 欧美亚洲日本国产 | 日韩免费观看视频 | 久久99视频| 亚洲一区中文字幕 | 毛片1毛片2毛片3毛片4 | 国产福利视频在线 | 国内精品易阳在线播放国产 | 久碰香蕉精品视频在线观看 | 欧美性xxxxx极品老少 | 色狠狠狠色噜噜噜综合网 | 国产乱码精品一区二区三区中文 | 插插插91 | 久草新在线 | 国产精品免费一区二区三区都可以 | 国产日韩在线视频 | 亚洲午夜精品一级在线 | 欧美综合伊人久久 | 欧洲亚洲精品久久久久 | 私色综合网 | 欧美一级精品片在线看 | 在线精品亚洲欧美日韩国产 | 国产精品久久久久久久久免费 | 中文字幕一区在线观看视频 | 成年人在线观看 | 一级欧美日韩 | 国产精品va一区二区三区 | 国产美女www爽爽爽免费视频 | 激情婷婷六月天 | 久久国产欧美日韩精品 | 欧美高潮| 亚洲三级视频在线观看 | 91福利在线观看 | 欧美三级不卡 |