BMW Profits Keep Rising Despite Declining Sales In The First Quarter | Carscoops carscoops
was the company’s move to acquire an additional 25 per cent of the shares in its Chinese joint venture with Brilliance. The formal transfer of shares was completed on February 11, 2022 having been first announced on October 11, 2018 and means BMW known owns a 75 per cent stake of the joint venture. The contractual term of this joint venture has also been extended from 2028 until 2040.
“The war in Ukraine and the resulting limited availability of wiring harnesses, the continuing shortage of semiconductor components, and the pandemic-related lockdown in China led to global production interruptions during the first quarter 2022,” BMW said in its financial report. “However, the resulting decline in sales volumes was offset by positive pricing and product mix effects, as well as by the higher volume of business with spare parts and accessories.
sales were slightly down from the first quarter of 2021 with a total of 596,907 vehicles delivered across the automotive segment compared with the 636,606 sold in Q1 2021. Production also dropped from 669,118 units last year to 541,776.has reported a jump in the sales of its all-electric and hybrid models. Most notably, sales of all-electric models more than doubled to 35,289, up from 14,161 units in the previous quarter.
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