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BMW Group sales drop slightly in Q3
Global Banking & Finance Review®
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BERLIN (Reuters) -BMW sold nearly as many cars in the third quarter as it did in the same period a year before, after the war in Ukraine and supply shortages led to a drop in deliveries in the first half of 2022, said the German carmaker on Monday.
BERLIN (Reuters) -BMW sold nearly as many cars in the third quarter as it did in the same period a year before, after the war in Ukraine and supply shortages led to a drop in deliveries in the first half of 2022, said the German carmaker on Monday.
Group sales were down 0.9% compared with the same quarter of 2021, to 587,795 vehicles. That’s a smaller dip than seen in previous quarters, when lockdowns in China and the lack of chips had made things difficult for the Munich-based company.
Business in China was especially strong, up 5.7%, as well as in the United States, which saw an increase of 3.8%. Europe, on the other hand, saw an 11.1% decrease in the third quarter.
For the first nine months of 2022, the carmaker saw a year-on-year fall of 9.5% for Group sales to 1.75 million vehicles.
The carmaker confirmed its full-year forecast for 2022 of achieving sales levels slightly below the previous year.
(Reporting by Miranda Murray and Christina AmannEditing by Paul Carrel and Rachel More)
Group sales refer to the total number of products sold by a company across all its brands or divisions within a specific time period.
A supply shortage occurs when the demand for a product exceeds its available supply, often leading to increased prices and reduced sales.
Delivery drop refers to a decrease in the number of products delivered to customers, which can be caused by various factors like supply chain issues or decreased demand.
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