BMW saw the figures pick up again in the last quarter of 2020 and expects things to go even better this year. The brand is counting on profit growth, although there was also profit in the challenging past year.
BMW is counting on growth in 2021 after a relatively disappointing 2020. The roll-out of vaccines will ease the gloom about the economic conditions, from which the German automaker can benefit. Even in the last months of 2020, BMW already noticed that there was a recovery. The rising demand for cars in the second half of the year ensured, among other things, that BMW’s profitability received a boost. Still, 2020 was of course a much less good year than BMW could have predicted at the turn of the year: the profit before tax was more than a third lower last year than in 2019: € ​​4.8 billion.
Financial director Nicolas Peter said he was confident about 2021. He did not provide precise details on the outlook for this year. This will probably happen during the annual meeting, which will take place next Tuesday. BMW reported preliminary annual results in January, reporting that a recovery in many markets had helped boost margins for the automotive industry. These fell out at the top of the previously issued bandwidth of zero to 3 percent.