BMW has experienced a substantial decrease in vehicle sales.
BMW saw a notable decline in vehicle sales during Q3. Adrop in sales in China and issues related to brakes led to a 13% decrease in global deliveries, bringing the total to 541,000 units, as revealed in Munich on Thursday.
The troubles with brake supplier Continental halted deliveries for 320,000 unsold vehicles. Sales dipped in every region. The drop in China was particularly striking, with a 30% decrease to 148,000 units. In the US, sales dwindled by 9% to 83,000 units, and in Europe, they diminished by 1% to 219,000 units.
BMW had previously announced the brake issues and sluggish business in China in September, which resulted in a revised annual forecast with a predicted decline in deliveries. The company anticipates a modest drop in deliveries, with pre-tax profits predicted to significantly trail behind last year's figures.
BMW continued to make strides in the electric vehicle market, witnessing a 10% increase in sales, reaching 103,000 units in Q3.
Despite the challenges faced in Q3, BMW plans to provide a quarterly sales report during its upcoming board meeting. The ongoing issues with brake supplies and sales decline in China are expected to impact the company's Q4 deliveries significantly.
