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BMW recorded a 61% drop in profits in Q3 2024

European manufacturers have been in crisis for a long time, and Q3 2024 was devastating for most of them. One of those that recorded a big drop in sales in the last three months is BMW with a 61% lower profit compared to the same period last year.

The biggest reason for the drop in profits is the problem with the brakes on the cars, which affected more than 1.5 million cars, and delivery delays are expected for about 320,000 cars. Also, the second big reason is the decline in sales in China, so BMW reduced its plans with the expectation of growth until the end of 2024. “After the exceptional challenges of the third quarter, in the fourth quarter we are back on track for higher profits in order to achieve our annual targets,” said BMW CEO Oliver Zipse.

Last month, BMW reported that its sales in China fell by 1/3 in the third quarter. Other German automakers such as Volkswagen and Mercedes-Benz are also struggling with declining sales in China due to a weak economy and intense competition.

Source: BMW

Audi A6 has come to an end

The Audi Group, like other German and European car manufacturers, is going through a difficult period, and the drop in demand for their cars further complicates an already difficult situation. Back in 2023, former Audi director Markus Duesmann said that some models will get new names, so the A6 will become the A7.

It was already obvious that Audi has decided to separate the electric models (A4 and A6) from the ICE models (A5 and A7) with new designations. Some models have since been retired, such as the Audi A1 and the Q2 subcompact crossover, and the same fate befell the sports model TT and R8.

The launch of the new A7 is scheduled for early next year, and no further details have been revealed. It will be a gasoline and hybrid sedan that will replace the standard A6. Thus, at the same time, the sedan and station wagon known to us under the designation A6 and A6 Avant, the model that appeared in 1994 (A6 C4) as the successor to the Audi 100, will disappear from the scene.

Fans of wagons do not have to worry because Audi has decided to launch the A7 Avant on the market, and whether the RS7 Avant will also be available remains to be seen. However, before the new A7 arrives, Audi intends to reveal the next-generation Q5 Sportback at the end of November.

Since the beginning of the year, Audi has seen a decline in sales, and with it a drastic reduction in revenue and profit. In the first 9 months, the Audi Group recorded a 10.9% drop in sales, which is the biggest drop for Audi. It sold 8.5 percent fewer cars in China, 9.8 percent fewer in Europe and even 16.8 percent fewer in America. Other Group brands also recorded a decline, such as Bentley, which sold as many as 26.8 percent fewer cars. The only one that achieved growth was Lamborghini. This caused a drop in profit, which in Q3 was only EUR 106 million (-91%).

Source: Audi

Nissan has produced 1.5 million vehicles with e-Power system

Since the e-Power system was first introduced on the Note model in 2017, the Japanese company Nissan has so far produced 1.5 million vehicles with this hybrid system, which is one of a series of transitional solutions towards full electrification.

The E-Power system is a combination of a gasoline turbo engine feeding an electric motor, which is powered by a lithium-ion battery. A gasoline engine with a variable compression ratio can generate electricity directly into the battery, can use an inverter to drive an electric motor that only drives the drive wheels, and can do both if necessary.

At the beginning, Nissan used this system only on the Japanese market, and after four years (2021) it began to expand to the markets of China and Europe (2022) with the new generation of X-Trail and Qashqai. Now the plan is to expand to the North American market in the next two years.

If we look at the total number of 1.5 million Nissan cars with e-Power technology, most of them were produced in Japan (1.17 million units), in Europe 140,000 units were produced, in China 60,000 units while the remaining 150,000 cars with this hybrid technology was produced in other markets.

Source: Nissan

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