BMW Group clearly focused on mobility of the future

BMW Group clearly focused on mobility of the future

07.11.2018: - Krόger: Forward-looking approach has absolute priority - Key strategic decisions taken in recent months - Significantly higher upfront expenditure for R&D

-  Krüger: Forward-looking approach has absolute priority

-  Key strategic decisions taken in recent months

- Significantly higher upfront expenditure for R&D

-  Revenues and earnings for nine-month period at high levels

-  High volatility and intense competition

- Outlook announced on 25 September confirmed

The BMW Group remains firmly committed to following its forward-looking strategy, despite the current challenging conditions. In line with its Strategy NUMBER ONE > NEXT, the BMW Group continues to invest extensively in tomorrow's technologies and is maintaining its steady course, despite highly volatile geopolitical and trade policy developments.


“Our forward-looking approach has absolute priority. Particularly in these volatile times, we are maintaining our focus on the future and taking the decisions that will lead to tomorrow's success," said Harald Krüger, Chairman of the Board of Management of BMW AG, in Munich on Wednesday.

 "We stand for trust and continuity. The BMW Group has more than 100 years of experience in dealing with transformation and volatility in a rapidly changing world. This is why we see challenging conditions as an opportunity to move forward and strengthen our position as market leader. We are implementing our strategy rigorously and investing extensively in the technologies of the future, despite today’s volatile environment," Krüger emphasised.


Research and development expenses during the first nine months of 2018 exceeded last year’s corresponding figure by around € 400 million and totalled € 3,881 million (+11.4%). As previously reported, full-year R&D expenses are likely to amount to as much as seven per cent of Group revenues in 2018 (2017: 6.2%). This level of expenditure was reached in the third quarter, with an R&D ratio of 6.9%. At € 2,889 million, capital expenditure over the nine-month period from January to September was also up on the previous year (2017: € 2,817 million).

In addition to ramping up the roll-out of new models, the focus is on expanding business in the fields of electric mobility and autonomous driving. As the world’s leading provider of premium mobility, the BMW Group puts the needs and desires of its customers first and is continuing its ground-breaking work on the four ACES topics (Autonomous, Connected, Electrified and Services/Shared).


"We remain an ambitious company, setting ourselves challenging targets. However, along with the rest of the industry, we are increasingly confronted with adverse external factors, the negative impact of which cannot be fully offset," commented Nicolas Peter, Member of the Board of Management of BMW AG, Finance. "The BMW Group is extremely flexible and we are countering these developments rigorously. We remain unconditionally focused on the issues of crucial importance for the future, while at the same time optimising our internal processes.

 The BMW Group's strong financial performance remains the basis for sustained success, enabling our company to play a key role in shaping the transformation currently taking place in our industry." Despite the current very challenging environment, the BMW Group’s Automotive segment generated free cash flow of € 2,042 million (2017: € 2,703 million) in the first nine months of the current year.


Key strategic decisions to ensure future success


In recent months in particular, the BMW Group has taken numerous key strategic decisions to underpin its future success on a sustainable basis. The BMW Group is bolstering its global production network, focusing keenly on Europe, China and the USA. In September, the four-millionth vehicle was produced at the Spartanburg plant in the USA, the Group’s largest manufacturing facility worldwide.

The BMW Group is currently investing in its Spartanburg plant on a substantial scale, preparing the plant for future generations of BMW X models and enlarging the local workforce from a current figure of around 10,000 employees to 11,000 employees by 2021. In addition to the 1,400 BMW X3, X4, X5 and X6 vehicles currently produced daily in Spartanburg, from December onwards the new BMW X7 is set to become the fifth BMW model to be manufactured at the South Carolina plant.


A few weeks ago, the BMW Group also announced its intention to comprehensively expand its business in China. As the first foreign automobile manufacturer to take this step in China, the BMW Group has agreed with its local partner, Brilliance, to acquire a majority stake in the BMW Brilliance Automotive joint venture. At the same time, the contractual term of the joint venture is to be extended until 2040. Investments of more than three billion euros in local plant structures were announced in connection with this ground-breaking agreement. These measures strengthen the company’s position in China, a dynamic growth market.


Rigorous expansion of electric mobility


With the launch of the BMW i3, the BMW Group established itself early as a pioneer in the field of electric mobility. Electrification is one of the key pillars of the Group's Strategy NUMBER ONE > NEXT. By 2021, the BMW Group will have five all-electric models: the BMW i3, the MINI Electric, the BMW iX3, the BMW i4 and the BMW iNEXT. By 2025, that number is set to grow to at least twelve models. Including plug-in hybrids – whose electrically powered range will increase significantly in the coming year – the BMW Group’s electrified product portfolio will then comprise at least 25 models.


This wide range is possible thanks to highly flexible vehicle architectures and an equally flexible global production system. Going forward, the BMW Group will be capable of manufacturing models with all-electric (BEV), hybrid-electric (PHEV) and conventional (ICE) drivetrains on a single production line. Its ability to integrate e-mobility in the production network enables the BMW Group to respond even more flexibly to the increasing demand for electrified vehicles.

The goal for the current year is to deliver 140,000 electrified vehicles to customers. By the end of 2019, the BMW Group expects to have more than half a million electrified vehicles on the roads.


The BMW Group is currently developing the fifth generation of its electric drivetrain, in which the interplay of electric motor, transmission, power electronics and battery will be additionally optimised. Integrating the electric motor, transmission and power electronics also cuts costs. Another advantage is that the electric motor does not require rare earths, enabling the BMW Group to reduce its dependence on their availability. The fifth generation of the electric drivetrain will be installed for the first time in the BMW iX3 in 2020.


At the beginning of the third quarter, the BMW Group signed a long-term contract with the Chinese company Contemporary Amperex Technology Co. Limited (CATL) to supply battery cells with a value of four billion euros. The award of this contract was a decisive factor in CATL’s decision to build the world's most advanced battery cell manufacturing facility in Germany.

 From 2021 onwards, cells for the BMW iNEXT – which will be manufactured at the BMW Group plant in Dingolfing – will be supplied by the new CATL plant in Erfurt. The BMW Group has thereby anchored the entire e-mobility value chain in Germany – from battery cell production through to the finished vehicle.


One of the prerequisites for expanding e-mobility volumes on this pioneering scale is the ability to efficiently manage the highly sought-after raw materials needed to manufacture the battery cells. In order to ensure security of supply, the BMW Group will in future purchase specific raw materials such as cobalt itself, and then make them available to battery cell suppliers – a strategy that has already proven its worth for aluminium and other resources. In addition, negotiations are being held with suppliers with the aim of concluding long-term agreements for battery raw materials that meet the BMW Group's sustainability criteria.


Furthermore the BMW Group is establishing a joint technology consortium together with Northvolt (a Swedish battery manufacturer) and Umicore (a Belgium-based company engaged in developing battery materials), thereby taking a further step to ensure access to the cell technology so vital for electric mobility.

The collaboration will extend to the development of a complete, sustainable value chain for battery cells in Europe, including development, production and ultimately recycling. The recycling of battery components will play a key role: given the sharp rise in demand for battery cells, the consortium’s stated aim is to close the life-cycle loop of raw materials to the greatest possible extent with comprehensive recycling.


Challenging conditions in 2018 financial year


In terms of its core business, the BMW Group had always expected 2018 to be a challenging year. Compared with 2017, additional upfront expenditure of around one billion euros for the mobility of the future and a high three-digit million euro negative impact from exchange-rate and raw-materials-price developments had been factored into expected earnings for the year.


As announced on 25 September 2018, several additional factors further restricted business performance in the third quarter. Unlike many of its competitors, the BMW Group implemented the requirements of the WLTP regulations at an early stage. The industry-wide shift to the new WLTP test cycle has resulted in significant supply distortions in Europe and unexpectedly intense competition, given that numerous competitor models without WLTP certification were registered before 1 September.

As a result, within the framework of its flexible production and sales strategy and given its focus on earnings quality, the BMW Group decided to reduce its volume planning. At the same time, increased goodwill and warranty measures resulted in significantly higher additions to provisions in the Automotive segment. In addition, the ongoing international trade conflicts had the effect of aggravating the market situation and feeding consumer uncertainty. These circumstances resulted in unexpectedly severe distortions in demand and therefore pressure on pricing in several markets.


Deliveries of the BMW Group’s three premium automobile brands during the first nine months of the year edged up by 1.3% to 1,834,810 units (2017: 1,811,234 units). Group revenues amounted to € 72,460 million (2017: € 73,324 million; -1.2%). Adjusted for exchange rate factors, the increase was 1.5%. As a result of the various adverse factors arising in the third quarter, combined with high levels of upfront expenditure for research and development, profit before financial result (EBIT) fell to € 7,224 million (2017: € 8,137 million; -11.2%).

Profit before tax totalled € 7,883 million (2017: € 8,741 million; -9.8%) and, despite the reduction, was the second-best nine-month figure in the company's history. The EBT margin for the Group came in at 10.9% (2017: 11.9%). Group net profit amounted to € 5,788 million (2017: € 6,337 million; -8.7%).


At 592,303 units, third-quarter deliveries to customers remained at the previous year’s level (2017: 590,415 units; +0.3%). Group revenues grew by 4.7% to € 24,743 million (2017: € 23,633 million). Profit before financial result (EBIT) fell to € 1,745 million (2017: € 2,384 million; -26.8%).

Profit before tax (EBT) amounted to € 1,845 million (2017: € 2,503 million; -26.3%). The EBT margin for the Group came in at 7.5% (2017: 10.6%). Net profit amounted to € 1,405 million (2017: € 1,846 million; -23.9%).


Automotive segment exposed to volatile business conditions


At € 62,629 million, Automotive segment revenues for the first nine months were at the previous year’s level (2017: € 62,599 million). Due to the factors mentioned above and the high level of upfront expenditure for research and development, EBIT amounted to € 4,730 million (2017: € 5,879 million; ‑19.5%). Despite the large number of adverse factors, the EBIT margin came in at 7.6% (2017: 9.4%). Profit before tax fell to € 5,346 million (2017: € 6,562 million; -18.5%).


Third-quarter revenues grew by 3.3% to € 21,111 million (2017: € 20,433 million). Due to the above adverse factors and the high level of upfront expenditure for research and development, EBIT for the three-month period fell to € 930 million (2017: € 1,758 million; -47.1%). The Automotive segment’s EBIT margin came in at 4.4% (2017: 8.6%). Profit before tax amounted to € 1,003 million (2017: € 1,886 million; -46.8%).


In total, 1,566,216 (2017: 1,537,497 units; +1.9%) BMW brand vehicles were delivered to customers worldwide during the first nine months of the year. With double-digit growth rates, the BMW 5 Series (+14.9%) and the new BMW X3 (+15.3%) were the main growth drivers. Deliveries of the BMW X3 rose by 62.5% in the third quarter, thanks to full availability and expanded production capacity.


A total of 265,935 (2017: 271,394; -2.0%) MINI brand vehicles were delivered to customers during the first nine months of 2018. The MINI Countryman recorded double-digit growth (+24.9%) during this period.


Compared to the previous year, deliveries of Rolls-Royce Motor Cars rose by 13.5% (2,659 units) in the first three quarters of the year. Worldwide demand for all Rolls-Royce models, including the Black Badge variants of the Dawn, Ghost and Wraith, remains strong. Preparations are underway for the first deliveries of the Rolls-Royce Cullinan to customers, which are scheduled for early 2019. This new all-terrain model is already enjoying strong customer demand, with the order book filled well into the coming year.


Whereas deliveries of the BMW Group’s three automotive brands in Europe remained virtually unchanged at the previous year's high level (816,037 units), the Americas (336,258 units; +3.0%) and Asia (638,449 units; +2.8%) regions recorded slight growth for the nine-month period. In China, the pace of growth in the number of deliveries to customers rose significantly in the third quarter (160,047 units; +11.5%), thanks to the ramp-up of the local production of the new BMW X3.


Motorcycles segment revises model range


BMW Motorrad has revised its 2018 model range on a massive scale, adding nine new models. Production adjustments necessary during the ramp-up phase had a negative impact on deliveries during the first six-month period.

In the first nine months of the year, a total of 126,793 BMW motorcycles and maxi-scooters were delivered to customers (2017: 127,818 units; -0.8%). Revenues totalled € 1,658 million (2017: € 1,827 million; -9.3%). Profit before financial result decreased to € 208 million (2017: € 282 million; -26.2%), resulting in an EBIT margin of 12.5% (2017: 15.4%). Profit before tax for the nine-month period amounted to € 205 million (2017: € 281 million; -27.0%).


Third-quarter deliveries to customers totalled 39,818 units (2017: 39,429 units; +1.0%). Revenues fell to € 476 million (2017: € 512 million; ‑7.0%). Profit before financial result amounted to € 33 million (2017: € 53 million; -37.7%), corresponding to an EBIT margin of 6.9% for the quarter (2017: 10.4%). Profit before tax amounted to € 31 million (2017: € 53 million; ‑41.5%).


Financial Services segment remains on course


The Financial Services segment continued to perform well in the period from January to September 2018. In total, 1,422,558 (2017: 1,369,263; +3.9%) new credit financing and lease contracts were signed during the nine-month period. The contract portfolio with retail customers comprised 5,586,855 contracts at the end of the reporting period (31 December 2017: 5,380,785 contracts; +3.8%).

Segment revenues totalled € 21,148 million (2017: € 20,769 million; +1.8%). Profit before tax for the nine-month period amounted to € 1,714 million (2017: € 1,793 million; -4.4%).


During the third quarter, 490,347 (2017: 435,026 contracts: +12.7%) new credit financing and lease contracts were signed with retail customers. Segment revenues totalled € 7,333 million (2017: € 6,679 million; +9.8%). Profit before tax amounted to € 548 million (2017: € 609 million; -10.0%).


Increase in workforce size


The BMW Group’s workforce comprised 133,475 employees at 30 September 2018, 2.7% more than at 31 December 2017. Skilled workers and IT specialists in future-oriented areas, such as digitalisation, autonomous driving and electric mobility continue to be recruited.


BMW Group confirms current outlook for 2018


The BMW Group confirms its current outlook for the financial year 2018. Automotive segment revenues are expected to be slightly below the previous year's figure. The EBIT margin in the Automotive segment is expected to be at least 7%. Group profit before tax is expected to show a moderate decrease from the previous year.

 Possible positive earnings effects from a regulatory approval and the closing of the planned mobility services joint venture in 2018 are still not reflected in the adjusted outlook. The factors triggering the outlook revision on 25 September 2018 will also have a significant effect on Group profit before tax and the EBIT margin in the Automotive segment in the fourth quarter. The BMW Group continues to target slight increases in deliveries to customers in the Automotive segment in 2018.


Forecasts for the current year are based on the assumption that worldwide economic and political conditions will not change significantly. The BMW Group continues to benefit from its strong brands and attractive product portfolio, whilst at the same time having to deal with high levels of upfront expenditure for key new technologies, intense competition and rising personnel costs. The global political and economic environment is expected to remain volatile.



Max-Morten Borgmann, photo BMW


07.11.2018 / MaP

More News

Volkswagen remains on track for growth despite a challenging environment
Sales revenue and deliveries above prior-year level    As expected, operating profit for the third quarter affected by WLTP changeover    Forecasts for sales revenue and operating profit for 2018 confirmed    more >>
Mitsubishi Motors Reports FY2018 First-Half Financial Results
Mitsubishi Motors Corporation (MMC) today announced its financial results for the first-half of FY2018 (from April 1 to September 30, 2018).   more >>
Trucks and Electrified Vehicles Spark Strong October Sales for American Honda
•    American Honda trucks gain 6.5% to set new October record•    Honda electrified vehicles have best month on record, exceeding 6,000 retail sales for second month in a row•& more >>
Kia Motors posts global sales of 250,294 vehicles in October
Kia Motors Corporation announced its October 2018 global sales figures for passenger cars, recreational vehicles (RVs) and commercial vehicles, recording a total of 250,294 units sold, which represents a 4.2 percent year-on-year increase.Overseas more >>
AUDI AG after three quarters: key financials impacted by extraordinary factors
WLTP changeover and numerous model changes: 8.3% operating return on sales before special items for the first three quarters, 6.5% after special items        Special item affecting earnings of €800 million fine imposed by Munich II Public Prosecutor’s Office in the third quarter        more >>
Porsche achieves growth in revenue and operating result
Record number of employees at 31,753Thanks to a strong third quarter, Porsche AG once again increased its operating result, revenue, deliveries and number of employees in the first nine months of 2018. The operating result compared with the same period in the previ more >>
Alliance Ventures leads strategic investment in
Renault-Nissan-Mitsubishi and to increase presence in Chinese autonomous vehicle services. Alliance Ventures, the strategic venture capital arm of Renault-Nissan-Mitsubishi, has become the lead strategic investor of (former more >>
Sentinel Capital Partners Acquires Holley Performance Products
Olivier Murguet is appointed Renault Executive Vice-President Sales & Regions
Groupe Renault announces the appointment of Olivier Murguet as Executive Vice-President of the new Sales & Regions Division. He will report to Thierry Bolloré, Chief Operating Officer and will become a member of Gro more >>
Volkswagen subsidiary TRATON refines portfolio
   Volkswagen AG acquires MAN Energy Solutions SE and all shares in Renk AG from MAN SE     TRATON AG is thereby focusing exclusively on trucks, buses and digital transportation solutions     Frank Witter, CFO: “In the light of our decision to prepare TRATON for a possible initial public offering (IP more >>
Daimler Group investment in the future and outlook
The Daimler Group invested €2.1 billion in property, plant and equipment in the third quarter (Q3 2017: €1.5 billion). Most of that investment, €1.6 billion, was at the Mercedes-Benz Cars division (Q3 2017: €1.0 billion). The Group’s research and development expenditure in the third quarter amounted to €2.4 billion (Q3 2017 more >>
Daimler achieves third-quarter EBIT of €2.5 billion in a volatile environment
       Slight decrease in unit sales to 794,700 vehicles (-4%)    Revenue close to prior-year level at €40.2 billion (Q3 2017: €40.7 billion)    Group more >>
Groupe PSA: Q3 2018 Revenue +7.8% growth
•    Groupe PSA Q3 revenue at €15.4 billion[1] and YTD revenue up 29.1% at €54 billion;•    Peugeot Citroën DS (PCD) Automotive division revenue up 0.8%: o    Strong market share increase in Europe: +0.7 pt[2];o    Negative impact of exchange rates e more >>
PSA Supervisory Board decision
At its meeting of 23 October 2018, and acting on the recommendation of the Appointments, Compensation and Governance Committee, the Supervisory Board of Peugeot S.A. decided to appoint Louis Gallois, an independent member of the Supervisory Board as well as its Chairman, as a member of the Finance and Audit Committee.Louis Gallois will contribute his ski more >>
Group Renault Revenues of €11.5 billion in the third quarter of 2018
•    Group registrations increased by 2.9%, including Jinbei and Huasong brands since January 1, 2018. On an equivalent scope to 2017, Groupe Renault sales decreased by 1.7% in a global market that fell by 2.4%.•    Group revenues amounted to €11,484 million1-2 in the quarter (-6.0%). At constant exchange rates a more >>
Alliance Ventures invests in Data Ecosystem for shared transport services
Alliance Ventures, the corporate venture capital fund of Renault-Nissan-Mitsubishi, the world's largest automotive group by unit sales, today announced that it led a $5 million Series A investment in Coord, the US mobility data platform.  more >>
Volkswagen deliveries in September affected by WLTP changeover, as expected
485,000 vehicles delivered throughout the world in September – 18.3 percent below September 2017     Europe and Germany affected by especially severe fall as a result of expected WLTP effect on overall market and the brand     Brazil continues to grow: +26.1 percent compared with September 2017  more >>
Mercedes-Benz sells more than 200,000 vehicles worldwide in September
    From January to September, unit sales by Mercedes-Benz of 1,715,087 vehicles were at the high prior-year level (-0.1%).    Worldwide, Mercedes-Benz sold 202,819 units in September (-8.2%).    In the third quarter, 526,255 cars with the star were delivered to customers worldwide (-8.2%). more >>
Renault Board of Directors proposes the appointment of Mr. Thomas Courbe as Director
Mr. Pascal Faure, who has served on Groupe Renault’s Board of Directors as representative of the French State since February 2013, has decided to resign from his office as Director. During its meeting held on more >>
Exceptional situation in Europe adversely affects AUDI AG deliveries in September
Down 22.0 percent in the month, year as a whole up 2.0 percent year-on-year        Growth in China and North America, negative extraordinary effects in Europe        Interims-CEO and Sales chief Bram Schot: “We expected challenging months and are responding actively to the situation” more >>
Opel Achieves Market Share of 10.2 Percent in September in Germany
Opel benefitted from the timely and consistent preparation of the transition to the new WLTP (Worldwide Harmonized Light Vehicles Test Procedure) test cycle in September: The brand with the Blitz achieved a passenger car market share of 10.2 percent (+ 2.6 percentage points) in Germany in September. more >>
Daimler sets its course for the future
-  Dieter Zetsche to succeed Manfred Bischoff in the Supervisory Board – Ola Källenius to become Chairman of the Board of Management of Daimler AG in 2019    Supervisory Board prepares succession at an early stage    Dieter Zetsche to be elected as member of the Supervisory Bo more >>
Williams Reports 2018 Interim Results
Williams Grand Prix Holdings PLC (WGPH, Ticker: WGF1) today announced the Group’s interim results for the six months to 30 June 2018. WGPH is the holding company of the Williams group of compa more >>
Porsche in Central and Eastern Europe: Michael Müller succeeds Marcus Eckermann
Change of management in the sales organisationPersonnel change at the top of the Porsche sales organisation for Central and Eastern Europe: Michael Müller (46), previously Area Director Western Europe at Porsche AG, will take over as Managin more >>
TRATON and Chinese Sinotruk significantly expand strategic partnership
TRATON´s brand MAN and CNHTC’s Sinotruk plan to establish joint venture     MAN to localize heavy-duty truck in China     Extension of technology cooperation will be evaluated in key focus areas more >>
BMW i Ventures Announces Strategic Investment in Vera
BMW i Ventures has announced a strategic investment in Vera, a company developing innovative data-centric security technology for business of all sizes.   Since the company’s founding, Vera has helped some of the world’s leading companies protect their most critical data, without sacrificing visibility and control. Over the past yea more >>
Volkswagen expands its engagement in Africa
- memorandums of understanding signed with Ghana and Nigeria    New plants are to be built in Ghana and Nigeria    Ghana teams with Volkswagen to test new mobility solutions    Memorandums of unders more >>
Transforming Transportation: Volkswagen Truck & Bus is now TRATON GROUP
Official name change major milestone on the way to become Global Champion    Renschler: “TRATON is a young company with the unique character of a start-up and the extensive experience of its traditional brands. This combination is what it takes to re-invent transportation for future generations.”    Strong brands MAN, S more >>
McLaren Automotive appoints Brett Soso a new regional director
... for the Middle East, Africa and Latin America Region  more >>
Rolls-Royce announces new President for Rolls-Royce Motor Cars North America
Rolls-Royce has announced that Martin Fritsches has been appointed as President, Rolls-Royce Motor Cars North America from 1 September 2018.Fritsches joined Rolls-Royce earlier thi more >>
Audi increases deliveries by 7.0 percent in July
Worldwide demand up 4.8 percent since January        Deliveries in China increase, positive extraordinary effects in Europe        Interim CEO and Sales chief Bram Schot: “Despite positive response to our models, challenges will increase” more >>
Lexus International releases 2018 mid-year sales report
    Lexus global mid-year sales reached 327,838 vehicles (+7% vs. 2017)    Lexus Europe* sold 38,543 vehicles in the same period (+7% vs. 2017)GLOBAL SALESLexus International to more >>
SEAT continues to break sales records
Cumulative growth of 20.1% •    SEAT delivered 342,700 cars until July, the best result in its history•    Last month’s sales rose sharply by 35.7% to reach more than 52,000 vehicles more >>
Porsche increases revenue and operating result in the first half year
Strong profitability despite economic and political challengesIn the first six months of 2018, Porsche AG increased its operating result, revenue, deliveries and number of employees. The ope more >>
A strong first half for the Volkswagen brand
    Further significant improvement in sales revenue, operating profit before special items and return on sales    SUV offensive successfully continued; marked growth in all regions of the world    Annual forecast for 2018 confirmed    Board Member for Finance Dr. Arno Antlitz: &l more >>
Groupe Renault sets a new operating margin record for a first half-year
Financial results for the 1st half of 2018:     Registrations increased 9.8% to 2.07 million units (+5.3% excluding Jinbei and Huasong).    Group revenues increased by 1.4% to €29,957 million (+2.4% in the seco more >>
Groupe Renault HR Senior Management changes
Effective August 1st, 2018, Marie-Françoise DAMESIN will retire from her Human Resources leadership positions both at the Alliance and at Renault. As regards to her HR position at the Alliance, Arun BAJAJ is appointed Alliance SVP, Human Resources. He maintains his current responsibilities as Alliance Talent management and Nissan Human Resour more >>
Groupe PSA: Sharp growth and record profitability
•    40.1% Group revenue growth at €38.6 billion[1]•    8.5% PCD[2] Automotive division recurring operating margin[3]•    5.0% OV[4] Automotive division recurring operating margin•    7.8% Group recurring operating margin, at €3.017 billion•  more >>
Daimler signs agreement on €11 billion credit line
    Concluded with international consortium at attractive conditions    Credit line significantly oversubscribed    New credit line replaces existing credit line and serves to ensure sufficient financial flexibility at all timesOn July 23, 2018, Daimler AG (ticker symbol DAI more >>
2001-2023 copyright