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      11-06-2019, 08:37 AM   #1
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BMW Reports Q3 Global Results and Makes Forecasts

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BMW Reports Q3 Results and Makes Forecasts
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New BMW CEO Oliver Zipse has just reported BMW's Q3 results. Here are the key points from the report:
• 33% Q3 operating profit rise (mostly due to strong SUV sales and lack of the one-off factors which depressed earnings last year lifted this year's earnings.

• Earnings before interest and taxes (EBIT) rose to 2.29 billion euros (£1.97 billion), up from 1.72 billion euros in Q3 last year.

• Operating margin rose to 6.6% from 4.4% in the year-earlier period.

• BMW on track to meet full-year targets.

• BMW passenger cars sales rose 3.6% in Q3.

• 5.8% sales rise rise in China in September, due to X3.

• The company predicts sales of its electrified vehicles (includes hybrids) will rise 100% by 2021, and rise 30% annually between 2021 and 2025.

• BMW will cut development times of vehicles by a third and the number of drivetrains by 50% from 2021 onwards.

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