BMW Financial Services has announced second quarter before-tax
profits of €64 million (£50 million), a fall of 66.1 percent from
Q2 2007.
Before-tax profits for H1 stand at €148 million (£115 million),
60.2 percent below the previous year’s first-half total. This drop
has been partially ascribed to “additional expense recognised for
residual value risks and bad debts”, totalled at €245 million in
the BMW Group’s quarterly financial report.
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