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Hindustan Times
11 minutes ago
- Hindustan Times
BMW sales take a hit in Asia despite global gains. Check details
The all-new BMW 2 Series Gran Coupe is slated to arrive in India on July 17, 2025. Check Offers BMW Group might have reported record global sales in the first six months of 2025, but a closer look suggests a concerning trend in one of its important markets - Asia. Other sub-brands from its premium division reported sales and growth in demand for electric vehicles (EVs) that are astounding, but the primary BMW brand reported a notable drop, especially from China - which is its biggest Asian market. Asia pulls down BMW brand ,omentum Asia, a major proportion of BMW's global sales, experienced a significant 11.1 per cent decline in H1 2025, with the second quarter alone experiencing a 10.1 per cent loss. The decline was worse in China specifically, as compared to previous year BMW's sales volume of deliveries is down 13.7 per cent in Q2 and 15.5 per cent compared to the past half-year. The decline BMW faces also follows broader problems for German luxury brands in China, with rival brands Mercedes-Benz and Porsche performing worse over the same period. A range of issues has purportedly caused the problems for BMW in Asia. Prices and competition from local EV producers, changing consumer preferences, and macro uncertainty could all have impacted core BMW brand's Q2 sales fell 2.6 per cent globally, and this decline would have been deeper without the robust performance of its high-margin divisions. Also Read : BMW Group reports record H1 2025 sales as EV and SAV demand accelerates India emerges as a bright spot Interestingly, not all Asian markets are following the same trajectory. India has emerged as a rare bright spot for the company. BMW India reported its highest-ever first-half sales, with 7,098 cars and 4,167 motorcycles delivered in H1 2025 — a year-on-year growth of 21 per cent and 33 per cent, respectively. The growth was primarily fueled by the demand for Sports Activity Vehicles (SAVs) and the growing popularity of BMW's electric range in the nation. This juxtaposition reflects the disparate performance of the brand in Asia and underlines India's increasing significance in BMW's regional strategy. EV push offers hope for core brand BMW's bet on electrification continues to pay dividends. In H1 2025, global EV sales grew 15.7 per cent, while combined EV and PHEV (plug-in hybrid electric vehicle) deliveries rose 18.5 per cent. Even in Q2, which was less buoyant, electrified vehicles accounted for a 10.2 per cent increase year-on-year. Also Read : New-Gen BMW 2 Series Gran Coupe First Drive Review - More substance with style With the introduction of the Neue Klasse — BMW's next-gen EV platform scheduled for introduction in 2025 — the brand will be ready to take a giant leap in terms of technology and design. BMW is banking on this new range to turn around the overall brand's negative trajectory and become more competitive in markets such as China where local EV players have established themselves strongly. Sub-brands carry the load While the core brand faltered, BMW Group's overall automotive sales rose marginally by 0.4 per cent in Q2, thanks to strong performances from BMW M (+7.8 per cent), MINI (+33.1 per cent), and Rolls-Royce (+9.4 per cent). These sub-brands have helped shield the Group from more severe headwinds. The group's total automotive deliveries stood at 621,271 for Q2 and 1.2 million for the first half, only marginally down by 0.5 per cent year-on-year. However, these aggregate figures obscure the growing pressure on the main BMW brand in its most strategically important region. Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape. First Published Date: 14 Jul 2025, 09:30 am IST
Business Recorder
21 minutes ago
- Business Recorder
Bitcoin tops $120,000 for the first time
SINGAPORE: Bitcoin crossed the$120,000 level for the first time on Monday, marking a major milestone for the world's largest cryptocurrency as investors bet on long-sought policy wins for the industry this week. Starting on Monday, the U.S. House of Representatives will debate a series of bills to provide the digital asset industry with the nation's regulatory framework it has long demanded. Those demands have resonated with U.S. President Donald Trump, who has called himself the 'crypto president' and urged policymakers to revamp rules in favor of the industry. Expectations of further tailwinds for the industry helped propel bitcoin to yet another record high of $121,207.55 in the Asian session on Monday. It last traded 1.5% higher at $120,856.34. Bitcoin jumps to record on institutional investor demand The surge in bitcoin, which is up 29% for the year thus far, has sparked a broader rally across other cryptocurrencies over the past few weeks even in the face of Trump's chaotic tariffs. Ether, the second-largest token, scaled an over five-month top of $3,048.23 on Monday and last stood at $3,036.24. The sector's total market value has swelled to about $3.78 trillion, according to data from CoinMarketCap.
Business Recorder
21 minutes ago
- Business Recorder
Yuan hits more than 1-week high as strong midpoint, export surprise lift sentiment
SHANGHAI: China's yuan rose to a more than one-week high against the U.S. dollar on Monday, buoyed by a firmer official midpoint and stronger-than-expected export data. The onshore yuan firmed to 7.1606 in early trade, the strongest level since July 3, before reversing some of the gains. China's exports regained some momentum in June while imports rebounded, as exporters rushed out shipments to capitalise on a fragile tariff truce between Beijing and Washington ahead of a looming August deadline. Prior to the market opening, the People's Bank of China set the midpoint rate at 7.1491 per dollar, 253 pips firmer than a Reuters' estimate. The spot yuan is allowed to trade 2% either side of the fixed midpoint each day. The PBOC lowered the fixing to the stronger side of the 7.15 mark for the first time since Nov. 8, 2024 last Friday, suggesting a possible shift in its tolerance for a stronger yuan. The spot yuan opened at 7.1606 per dollar and was last trading at 7.1693 per dollar as of 0220 GMT, 9 pips firmer than the previous late session close and 0.28% weaker than the midpoint. China's yuan inches higher on firmer PBOC guidance even as dollar rises 'USD-CNY fixing started to grind lower following the trade deal, even ticking lower during USD strength from geopolitical tensions in the Middle East. This highlighted the PBOC's push towards more RMB strength,' said HSBC analysts in a note. Barring a breakdown in the U.S.-China trade truce, theanalysts expect the yuan to extend its gains, supported by a gradual shift away from the U.S. dollar and the PBOC's increasing comfort with a firmer currency. President Donald Trump on Saturday threatened to impose a30% tariff on imports from Mexico and the European Union starting on August 1. Market reaction has been largely muted, with the dollar index, which measures the greenback against a basket of currencies, up 0.1% on Monday. 'This underscores how much markets are discounting the tariff threats, amidst expectations that concessions will be built in closer to the deadline,' said Citi analysts in a note. The offshore yuan traded at 7.1711 yuan per dollar, up about 0.06% in Asian trade. China's economy is expected to have slowed down in thesecond quarter from a solid start to the year as trade tensions with the United States added to deflationary pressures, reinforcing expectations that Beijing may need to roll out more stimulus.
