BMW Archives — City Business News

July 4, 2022 No Responses

BMW Starts Production At New $2.2b Plant

BMW has commenced production at a new plant in China with an investment of 15 billion yuan ($2.24 billion) as the carmaker accelerates electric vehicle (EV) production. The Lydia plant, BMW’s third car assembly facility in China, located in the northeastern city...

April 16, 2022 No Responses

BMW CEO Warns Against Electric-Only Strategy

Chief Executive Officer Oliver Zipse said companies must be careful not to become too dependent on a select few countries by focusing only on electric vehicles, adding that there was still a market for combustion engine cars. “When you look...

March 17, 2022 No Responses

BMW Cuts 2022 Profit Forecast For Car Segment

BMW lowered its profit margin expectations for its automotive segment for 2022 due to the war in Ukraine, the German carmaker said on Wednesday.BMW Group now predicts growth of earnings before interest and taxation (EBIT) in its car segment in a...

March 11, 2022 No Responses

BMW Triples Pre-Tax Earnings, Vehicle Sales With $17.67b

Foremost auto firm, BMW, more than doubled pre-pandemic earnings in 2021 to 16 billion euros ($17.67 billion), the company said on Thursday, as higher prices and strong sales of top-end cars boosted revenue despite supply chain constraints. The premium carmake...

December 31, 2021 No Responses

BMW Targets 6,000 New Jobs In 2022

BMW plans to create up to 6,000 new jobs next year to prepare for growing demand for its electric vehicles, the carmaker’s chief executive told daily Muenchner Merkur.BMW is on a very good path through the transformation and has its...

December 11, 2021 No Responses

Coscharis Motors Unveils New BMW 3 Series

The management of Coscharis Motors has unveiled the new BMW 3 Series in Nigeria. Unveiing the 7th generation 3 Series in Lagos, Coscharis Group General Manager, Marketing and Corporate Communications, Abiona Babarinde,&...

November 15, 2021 No Responses

Mercedes-Benz SL-Class, BMW 7-Series Jostle For Luxury Car Of The Year Award In Nigeria

By Moses Ebosele, ebosele@hotmail.com — All is now set for the 2021 Nigeria Auto Journalists Association (NAJA) award scheduled to hold December 1, at Eko Hotels and Towers, Victoria Island, Lagos State. Already, finalists in each of the award...

November 4, 2021 No Responses

BMW Beat Forecasts, Declares $2.99b Profit In Q3

For the third quarter (Q3)ended September, 2021, BMW beat analysts’ forecasts on Wednesday with a 42.4% year-on-year increase in net profit to 2.58 billion euros ($2.99 billion). According to Reuters, higher prices and strong electric vehicle sales helpe...

August 4, 2021 No Responses

BMW Declares $5.7b Profit In Q2

BMW on Tuesday disclosed that it attained $5.7billion net profit in the second quarter. The company explained that it benefited from strong pricing during the quarter and a predominance of more-profitable vehicles in its sales mix. It reaped ...

May 3, 2021 No Responses

Ford, BMW Lead $130m Investing Round In Solid-State Battery Startup

Ford Motor Co and BMW AG are leading a $130 million funding round in a solid-state battery startup, Solid Power, as carmakers push to lower the cost of electric vehicles by investing in the development of affordable but powerful rechargeable batteries, the ...

March 12, 2021 No Responses

BMW Targets More Profit In 2021

BMW on Thursday explained that net profit fell 23 per cent last year to 3.86 billion euros (USD 4.62 billion) as the pandemic shuttered factories in the first part of the year. The maker of the X5 sport utility and 3-Series sedan said...

November 18, 2020 No Responses

BMW Lifts Stake In New Venture

BMW said on Tuesday there was no indication that its deal to increase its stake in its joint venture with Brilliance China Automotive would be affected by debt issues at Brilliance’s parent.BMW said in 2018 that it would pay 3.6 billion euros.....

July 2, 2020 No Responses

Turkey Probes Mercedes-Benz, BMW, Others

The Turkish Competition Board said on Wednesday that it launched an investigation into German carmakers Audi, Porsche, Volkswagen, Mercedes-Benz and BMW to determine whether they violated competition law.The competition board said findings regarding cla...

June 22, 2020 No Responses

Vikram Pawah To Lead BMW In India, Australia, New Zealand

BMW Group India has appointed Vikram Pawah as the President, effective from 1st August 2020. He will also continue in his present role of CEO of BMW Group Australia and New Zealand.Vikram Pawah has been with luxury car giant since 2017 and he...