Morgan Stanley expects positive movement on the back of BMW's 3Q report
“We expect BMW shares to see a small positive market reaction on the back of today's 3Q-2023 scheduled release.” analysts at Morgan Stanley wrote in a note.
Auto revenues have experienced a 0.6% decline, amounting to €32.1bn for BMW. However, the company asserts that these figures would have increased by 6.5% without FX headwinds. EV sales accounted for 15.1% of the total sales in the third quarter, surpassing BMW's year-end target of 15%. The sales growth is being driven by models from the upper price segment, including the 7 Series, the updated BMW X7, as well as the BMW X5 and BMW X6 models.
When questioned about the possibility of BMW reducing prices to stimulate electric vehicle demand, especially in China where intense market share competition has unfolded throughout the year, Chief Executive, Oliver Zipse emphasized that this strategy was not part of BMW's approach.
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