Earlier on Thursday, August 2nd, BMW (BMW.XE)revealed that its earnings for the second quarter were weighed down due to a large number of investments in electric and automated vehicles, and also the recent currency effects and high raw-materials prices, however it was also revealed that the premium carmaker remained largely unfazed by new emissions rules and escalating trade disputes that have caused quite the hassle for its German peers Volkswagen and Daimler.
According to Harald Krueger, Chief Executive of BMW, he said that the car manufacturer has adapted with the changeover to a new emissions testing standard that has become quite an obstacle for fellow German rivals Volkswagen AG (VOW.XE) and Daimler AG (DAI.XE).
Mr. Krueger believes that given the company’s pole position regarding in the matter it should provide BMW with several opportunities to increase sales over the second half of 2018.
Notably, earlier in the week Herbert Diess, Volkswagen’s Chief Executive Herbert Diess issued a warned by saying that the car maker’s main obstacle this year would be of getting its cars compliant with the Worldwide Harmonized Light Vehicle Test Procedure emissions standard, or WLTP, which will be in effect in Europe from the 1st of September.
Both Daimler, as well as Volkswagen, went on to state that the new emissions rules will most probably lead to limited availability of some models and will, in turn, affect earnings.