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Updated · Bloomberg · Jul 10BMW Q2 Car Sales Fall 4.9% as China Deliveries Plunge 30%
3 articles · Updated · Bloomberg · Jul 10Summary
- BMW’s global auto deliveries dropped 4.9% in the second quarter, with the decline centered on a sharp deterioration in China.
- China sales for the BMW and Mini brands plunged 30%, as the country’s property crisis continued to sap demand for luxury vehicles.
- Global sales of BMW’s core car brand also fell, showing the China slump was large enough to drag down the group’s overall quarterly performance.
Insights
With China’s tech giants now outselling its cars, is the era of German auto dominance in Asia over? Can BMW’s new EVs compete with the advanced software and design of China's domestic rivals?