Tuesday April 7, 2020

BMW profit climbs as cost controls offset cheaper model sales

The car maker lost its leading position in the luxury-car market to Mercedes in the first half

2nd August, 2016
BMW's second quarter profit rose by nearly eight per cent Pic: Pixabay

BMW’s second-quarter profit climbed 7.9 per cent as the luxury carmaker kept a tight hold on costs to offset a reliance on less-expensive vehicles such as the X1 compact SUV to boost sales.

BMW lost its leading position in the world’s luxury-car market to Mercedes in the first half after its rival added a range of new models and revamped its business-focused E-Class sedan. BMW has said it will focus instead on profitability...

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