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在线翻译:
szdaily -> Business -> 
BMW sees China car sales recovery
    2020-11-05  08:53    Shenzhen Daily

BMW AG confirmed its outlook for the year, adding to signs that automakers are benefiting from robust car sales in China as the pandemic continues to dampen business in Europe.

The German carmaker generated sales of 26.3 billion euros (US$30.7 billion) in the third quarter of the year, bolstered mainly by recovering demand in China, the world’s largest auto market. That compares with analysts’ average estimate of 25.9 billion euros.

BMW is the final major European manufacturer to report after what has been an upbeat quarter for automakers. Its results echo those of peers including Daimler AG, Renault SA and Fiat Chrysler Automobiles NV, all of which released third-quarter figures that were better than expected.

China, a market that accounts for almost a third of BMW’s sales, was a bright spot. Sales here climbed more than 6 percent in the nine months through September thanks to an economic recovery that gathered pace after the country emerged from a lockdown in the spring.

Shifts in consumer behavior sparked by the pandemic might also explain some of the recovery in deliveries, with commuters and holidaymakers spurning trains, buses and planes in favor of private cars where the risk of infection is lower.

Still, BMW warned there’s a high level of risk given that the pandemic is “clearly regaining momentum,” after countries from Germany to the United Kingdom and France issued renewed lockdowns that are expected to dent sales during the current quarter.

Separately, chief executive officer Oliver Zipse warned last week that a no-deal Brexit would hurt BMW’s bottom line.

BMW has projected an automotive Ebit margin of between 0 percent and 3 percent this year, and for sales to be significantly lower than last year after the pandemic shut down factories and dealerships.

(SD-Agencies)

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