BMW loses record €212m in second quarter

German carmaker BMW on Wednesday registered a loss of €212m ($250.6m) in the second quarter of the year as demand slumped as a result of the coronavirus pandemic. The higher-than-expected loss, which before interest and taxes came in at €666m, compared with a profit of €1.48bn for the same period in 2019.

Wednesday's quarterly report comes after the Munich-based carmaker had already reported in July that sales had slumped by more than a fifth year-on-year in the second quarter of 2020.

Second-quarter sales fell by 22.3%compared to the same period last year to €19.97bn, according to the revised sales figures.

The coronavirus-induced downturn was felt especially in Europe and the Americas, while signs of recovery in the Asian market prompted chief executive Oliver Zipse to express "cautious confidence" for the second half of the year.

More on this subject: Coronavirus

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