BMW's third quarter financial report released, China market performance is poor

BMW Group released its third-quarter financial report on November 6, showing a significant decline in both revenue and profit. BMW Group achieved operating income of 32.406 billion euros in the third quarter, a year-on-year decrease of 15.7%. From January to September, BMW's revenue was 105.964 billion euros, a year-on-year decrease of 5.8%. BMW's automotive sector achieved 634 million euros in EBIT in the third quarter, a year-on-year decrease of 79.8%; while from January to September, the automotive sector achieved 6.028 billion euros in EBIT, a decrease of 38.6%. BMW explained that in addition to the income tax paid and the bonuses paid in advance to Chinese dealers, the free cash flow burden also increased.