BMW profits fall as China sales drop
August 4, 2015, 1:52 pm   

A drop in sales in China and investment in new vehicles has hit German luxury car maker BMW`s second-quarter profits.The Munich-based company said that net profits fell to 1.75bn euros ($1.92bn; £1.23bn) in the April-to-June quarter, down from 1.77bn euros a year earlier.Sales in China, the world`s biggest car market, fell after a decade of growth."If conditions on the Chinese market become more challenging, we cannot rule out a possible effect on the BMW Group`s outlook," the carmaker said.BMW said that sales in China had fallen in May and June.The company also said there had been a shift in sales towards lower-margin compact vehicles.BMW is refreshing its model range and has already unveiled a new 7 Series which will go on sale this autumn.


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