BMW reported a decrease in profit by 76%

BMW has shown a decrease of 76% of the profits obtained in the second quarter, the recession reducing demand for expensive cars. Net profit fell to 121 million, compared to 507 million euros from the same period in 2008.

Analysts polled by Reuters had estimated a loss of 112 million euros. Sales fell by 11% to 12.97 billion, versus estimates of 12.7 billion euros.

First established by the cassation german government has not supported the BMW, because people who have turned to this program have bought cheap cars, says Bloomberg.

Sales of BMW in Europe fell by 11% to 75.466 cars.

Source: http://www.bmw.com/

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