German car maker BMW has posted a strong rise in profits despite its recent alleged emissions scandal.
The firms operating margins rose just shy of 10 per cent(9.7) in the second quarter of the year from 8.5 per cent previously.
The figures roughly sit similar with Audi at 9.1 per cent and Mercedes at 9.2 per cent. EBIT rose 7.5 per cent to 2.93 billion euros due to higher sales and strong demand in the East.
Results were released by BMW a day after the firm joined other manufacturing groups at a diesel summit where a series of measures aimed at decreasing pollution levels across Germany was the main agenda.
In 2015 the automotive industry was found to be cheating emission tests in millions of vehicles by installing specialist software in the vehicles. The automotive industry has been no stranger to scandals, just last month Porsche, Audi, VW, BMW and Daimler were alleged to be members of a “cartel” whose discussions were based around emission controls.
The crisis deepened last month following media reports that five manufacturers – VW, Audi, Porsche, Daimler as well as BMW – had since the 1990s been members of a secret cartel whose operations included discussions on emission controls and standards.
BMW has firmly denied any involvement in manipulating diesel emissions tests.
Press release distributed by Pressat on behalf of Mike Armstrong, on Thursday 3 August, 2017. For more information subscribe and follow https://pressat.co.uk/