Tag Archives: Sales results

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BMW recorded a 61% drop in profits in Q3 2024

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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

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Toyota sales results for the nine months of 2024

Toyota is one of the world’s largest car manufacturers, and the European market is extremely important for this Japanese manufacturer. The sale of electric cars is of particular importance, and according to the latest data, almost 3/4 of Toyota’s total sales in Europe were EVs.

In the nine months of 2024, Toyota sold 5 percent more cars on the old continent compared to the same period last year (848,974 units), of which 683,409 were electrified cars (+11%). Sales of hybrid (HEV) and plug-in hybrid (PHEV) cars increased by as much as 93 percent, which is a remarkable result. Also, all-electric cars recorded a growth of 19 percent, although Toyota has only one EV model in its offer.

Looking at the sales results of individual models, the highest demand in the nine months of 2024 was for the Yaris model, including the Yaris Cross and Corolla, and the new Toyota C-HR. The best-selling EV was the Yaris Cross Hybrid with 150,535 units.

Toyota’s plan is a gradual transition to fully electric vehicles, so focusing on hybrid vehicles is paying off and showing that the Japanese manufacturer is ahead of the pack when it comes to smart planning.

Source: Toyota

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BMW sold more electric cars in Europe than Tesla

After a long time, someone managed to remove Tesla from the throne of the best-selling electric cars in Europe, and that is BMW. It was the first time that a German manufacturer managed to surpass an American company.

The European electric car market is not looking great at the moment, and according to the latest results, sales have fallen by 6 percent compared to last year. This decline is the result of a lack of government incentives and buyers’ worries about how much their vehicles will be worth in the future. According to sales results in July, BMW sold 14,869 BEVs, which is 308 cars more than Tesla, although the Model Y is still the best-selling electric car. Tesla delivered 16 percent fewer Model Ys in July (9,544 units). The Volvo EX30 is second on the list with 6,573 cars sold, while the Volkswagen ID.4 is in third place with 5,295 cars delivered.

SUVs are still popular with 54 percent of all vehicles sold. “Customers in Europe now have more choice than ever before, and SUVs are a more comfortable and desirable option for many. These facts, along with the increasing availability of affordable models, are helping customers switch from traditional segments to SUVs,” said analyst Felipe Munoz.

If we look at the European market as a whole, total car sales in July increased by 2 percent compared to last year, with 1.03 million cars delivered. Dacia Sandero is the best-selling model with 22,398 units, Volkswagen T-Roc is second with 19,254 units sold, while third place belongs to Toyota Yaris Cross with 17,314 units sold.

Source: Reuters