Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

BMW sales up 8.4 percent in July but lead over Audi shrinks

Published 08/08/2014, 05:19 AM
Updated 08/08/2014, 05:19 AM
BMW sales up 8.4 percent in July but lead over Audi shrinks

BERLIN/FRANKFURT (Reuters) - BMW's (DE:BMWG) lead over German rival Audi is shrinking, despite increasing deliveries in July, as the luxury-car leader posts lower volume growth in the United States and Europe.

BMW said on Friday that sales of premium cars and sport-utility vehicles at its core brand rose 8.4 percent last month from a year earlier to 139,399 autos. Audi, Volkswagen's (DE:VOWG_p) flagship luxury brand, announced on Thursday 144,000 deliveries in July.

July was the third month this year that saw Audi outsell BMW, which has been the premium-car sales leader since overtaking Daimler's (DE:DAIGn) Mercedes-Benz division in 2005. Audi, which has ranked second since 2011, and Mercedes have each vowed to take the top spot by the end of the decade.

BMW said seven-month brand sales increased 10 percent to a record 1.03 million autos. Still, Audi has shrunk the year-to-date sales gap to BMW to 12,397 autos despite an ageing model lineup.

A year ago the gap was 21,035 autos, so it has narrowed by 40 percent this year, according to company records.

Weakening momentum at BMW reflects lower sales gains in core European markets and the United States, where seven-month group deliveries, including the Mini and Rolls-Royce brands, were up 2.8 percent and 5.4 percent respectively.

By comparison, Audi's sales increased 6.7 percent in Europe and 13 percent in the United States. VW's flagship division has also been growing faster in China than BMW and Mercedes.

© Reuters. A BMW Vision Future Luxury concept car is displayed at Auto China 2014 in Beijing

BMW Chief Executive Norbert Reithofer said in a June 2 interview with German magazine Automobilwoche that the carmaker was reconsidering to what extent competing with rivals Audi and Mercedes (DE:DAIGn) for the title of luxury-sales champion was still a priority for BMW.

(Reporting by Andreas Cremer and Maria Sheahan; Editing by Christoph Steitz and Susan Fenton)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.