BMW emerges from major setbacks in the third quarter.
The third quarter of the year has proved to be challenging for ceratin manufacturers within the automotive industry, and as BMW Group is recapping its third-quarter results for 2024, the report cites a technical issue as the reason for a major challenge when it comes to the group’s delivery numbers and financial results. However, BMW expects deliveries to increase in the fourth quarter, finishing 2024 with adjusted full-year guidance.
The technical issue is related to the Integrated Braking System (IBS), and it dampened sales and revenue. While BMW Group’s BEV deliveries increased during the quarter, the issues made the third quarter a tough one for BMW Group. Delivering 1,754,157 cars, the first nine months of this year represents a 4.5-percent decrease compared to last year’s number. In the third quarter itself, 540,881 BMW Group deliveries represented a 13-percent decrease.
As the IBS problem forced delivery stops and delays for BMW Group, it has proved a major challenge and a considerable setback for the group’s performance, both in the third quarter and in the first nine months of the year. However, as the manufacturer is working hard to rectify all of the impacts of the issue, the fourth quarter is expected to bring increased deliveries with robust demand.
