Hedge funds cut NFLX, keep big bets on MSFT, AMZN, add NVDA
Investing.com -- BMW (ETR:BMWG) reported a slight rise in vehicle deliveries for the second quarter, as stronger sales in Europe helped offset a sharp decline in China.
The company said it delivered 621,271 BMW, MINI, and Rolls-Royce (OTC:RYCEY) vehicles between April and June, a 0.4% increase from the same period last year.
The automaker’s shares rose 0.7% in Frankfurt as of 10:17 GMT.
Sales of BMW and MINI models rose 10.1% in Europe and 1.4% in the United States, while deliveries in China dropped 13.7% year-on-year.
“Thanks to our attractive product line-up, we were able to close the second quarter successfully,” said Jochen Goller, member of the Board of Management of BMW AG responsible for Customer, Brands, Sales.
The figures stand in contrast to Mercedes Benz Group (ETR:MBGn), which this week posted a 9% decline in quarterly sales, citing weaker demand in both the U.S. and China following President Trump’s 25% tariff on imported cars and auto parts introduced in April.
BMW had previously warned that tariffs would weigh on second-quarter performance but expected some relief from July onward. The company also pointed to competitive pricing pressures in China as a headwind earlier this year.
The automaker’s electrified vehicle sales jumped 10.2% year-over-year in Q2. BMW’s plug-in hybrids posted solid growth, while demand for fully electric MINI models was described as strong globally.
“In the second quarter, we also achieved an important milestone, with the delivery of our 1.5-millionth fully-electric vehicle,” added Goller.
The company also said new orders for all types of drive technologies saw strong year-on-year growth in the first half of the year.