BMW’s 5-series helps drive second quarter profit that beat forecasts
Frankfurt — German luxury car maker BMW posted a forecast-beating 7.5% rise in second-quarter profit, as sales of motorcycles and demand for its new 5-series helped offset slowing demand for luxury cars in the US. Deliveries of BMW Mini and Rolls-Royce vehicles rose 4.6% to 633,582 cars in the second quarter. BMW forecast a "solid" increase in automotive segment revenue for the full year, predicting "additional momentum" in sales in the second half as a new version of its 5-series is launched in markets such as China. Analysts welcomed BMW’s outlook for car sales, and the fact that the Bavarian vehicle maker remains the only German premium brand that is not being investigated for using illegal software to cheat emissions tests. "We confirm our positive view on BMW, especially as BMW seems to be less involved in the ongoing emission discussions," DZ Bank analyst Michael Punzet said in a note on Thursday. German prosecutors are investigating Daimler, Audi, Porsche and Volkswagen to se...
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