BMW: shares rise after outlook confirmed
(CercleFinance.com) - The BMW stock is up 1.
7% at 67.6 euros on Thursday morning, one of the biggest winners in Germany's blue-chip DAX index, after the premium carmaker confirmed its outlook for 2019.
BMW says it still expects a slight increase in the number of vehicle deliveries to customers in 2019, with an EBIT between 8% and 10%.
However, due to rising manufacturing costs, the group's pre-tax profit is still expected to be significantly below last year's level, it said.
In the second quarter, BMW set a new record for vehicle sales, with 647,504 deliveries of BMW, MINI and Rolls-Royce vehicles, up 1.5% year-on-year, thanks to the contribution by its joint venture in China.
However, group pre-tax profit fell by 28% to 2.05 billion euros, while its second quarter margin reached 8%, compared to 11.5% a year ago.
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