BMW Operating Profit Falls 20% on Electric-Vehicle Spending
German automaker BMW (OTC: BMWYY) (OTC: BAMXF) said on Aug. 1 that its second-quarter operating profit fell 20% from a year ago, to 2.2 billion euros ($2.4 billion), as it boosted spending to prepare its factories to build electric vehicles alongside conventional models.
BMW began rolling out its all-new 3 Series sedan in the second quarter. Supplies of the new model were tight, but strong SUV sales offset the impact. Image source: BMW.
Data source: BMW; pp = percentage points. As of Aug. 1, 1 euro = $1.10.
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