The BMW Group's overall revenue in the first half of the year reached 74.072 billion euros, a year-on-year increase of 12.4%, and sales in the Chinese market increased to 393,261 vehicles, a year-on-year increase of 3.6%

According to news from this site on August 3, the BMW Group released its financial report for the second quarter and first half of 2023. As of the second quarter of this year, the BMW Group's revenue reached 37.219 billion euros (approximately 293.286 billion yuan), a year-on-year increase of 7.0%; net profit was 2.958 billion euros (approximately 23.309 billion yuan), a year-on-year decrease of 2.9% %

The BMW Group’s revenue in the first half of this year reached 74.072 billion euros (approximately 583.687 billion yuan), a year-on-year increase of 12.4%; net profit was 6.620 billion euros (approximately 52.166 billion yuan), a year-on-year increase of 12.4%. down 50.0%. According to the company, this year's profit decline was mainly due to higher tax rates than in previous years due to mergers. In the Chinese market, the group's second-quarter deliveries increased by 16.2% year-on-year to 198,161 vehicles; in the first half of the year Sales increased by 3.6% year-on-year to 393,261

The BMW Group is said to have increased research and development on electrification and autonomous driving in the first half Investment, research and development expenditures increased by 15.4%, while capital expenditures also increased by 10.3%. In addition, BMW also pointed out that first-half results were affected by rising material and manufacturing costs

According to forecasts, the company’s automotive division is expected to The current profit margin will increase from 8%-10% to 9%-10.5%. At the same time, due to sufficient order inventory, delivery volume will also grow steadily, exceeding the previous expectation of only a slight increase

In addition, due to demand Building inventory and ramping up investment in electrification, the company cut its free cash flow forecast to more than 6 billion euros from about 7 billion previously.

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