BMW warned on Wednesday of numerous challenges ahead in the second half of the year as inflation, fears of fuel shortages and supply chain disruptions weighed on demand and rising prices. prices only partially offset the drop in production.
The premium carmaker maintained its forecast of 7-9% for the auto segment and expects a solid sales increase in the second half, but said total deliveries will fall short of the 2021 record, namely 2.52 million in the whole group.
However, he warned that the strengthening of sanctions against Russia, the interruption of gas supplies or the possibility of a prolongation of the war in Ukraine were not taken into account in his forecasts.
“BMW is the first automaker to signal caution on the demand front,” Bernstein analyst Daniel Roeska said in a note on Wednesday. „A warning for the end of 2022 likely implies that BMW is already seeing weakening consumer demand today,” he said.
BMW reported a 31% drop in profit before interest and tax in the second quarter, which stood at 3.4 billion euros, despite the increase in turnover.
The consolidation of its Chinese joint venture BMW Brilliance boosted half-year revenue but dampened second-quarter profits, the group said.