The company said in a press release that net income rose to 18.58 billion euros from 12.46 billion euros.
German automaker Bayerische Motoren Werke AG in 2022 increased both pre-tax and net income by one and a half times. This was stated in a press release from BMW.
Last year’s pre-tax profit came to 23.51 billion euros compared to 16.06 billion euros the previous year. Net income rose to 18.58 billion euros from 12.46 billion euros. BMW’s annual revenue increased by 28% to 142.61 billion euros.
The automaker explains the improvement in results by increasing product prices, the presence of a good product line, as well as the complete integration of Chinese BMW Brilliance Automotive Ltd. BMW cited some easing of semiconductor shortages in the fourth quarter, which allowed production and sales to increase.
In general, the company’s car sales last year decreased by 4.8% – up to 2 million 399.636 thousand units.
BMW shares lost 1.7% in Thursday’s trading. Over the past 12 months, their value has increased by nearly 38%.
Recall that BMW, together with the German tuning studio Vagabund Moto GmbH, created the concept of an electric scooter BMW CE 04 Vagabund Moto for surfers.
In addition, the BMW Group plans to start producing hydrogen cars before the end of this decade.
news Correspondent.net on Telegram. Subscribe to our channel Athletistic
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.