Bayerische Motoren Werke AG (BMW) announced on Thursday its profit before tax in the second quarter of the fiscal year 2024 observed an annual decline of 8.6% to reach €3.86 billion. Its total revenue decreased by 0.7% year-on-year to €36.94 billion.
The carmaker's deliveries in the automotive segment dropped by 1.3% compared to the same trimester the year before to 618,743 units. In the motorcycles segment, that figure, on the other hand, rose by 2.6% to 66,638. BMW's earnings before tax (EBT) margin declined by 7.1% over that period to 10.5%, while its earnings per share (EPS) of common stock went down by 5.5% to €4.15.
"Despite a volatile market environment during the first half of the year, the BMW Group remains on course and confirms its full-year forecast for 2024," BMW insisted. "Growth was driven primarily by all-electric vehicles (BEVs) and models in higher price segments."
