BMW’s results offer potential bright spot for German car industry

German manufacturer reported a margin of 9.8% in the third quarter for its luxury car business, exceeding analyst expectations

BMW has no interest in lowering prices of its EVs as competitors have, chief executive said.

BMW AG is optimistic about its luxury and fully electric vehicle sales in 2024, offering a rare positive outlook among German carmakers that have seen softening demand in China hurt their forecasts.

Speaking on an earnings call, chief executive Oliver Zipse said he was “not nervous” about a price war in China that is so far mainly hitting mass-market producers rather than the luxury segment. BMW has no interest in lowering prices of its EVs as competitors have, he added.