Currency headwinds and EV uncertainty dampen BMW’s Q1

BMW management was keen to present first quarter (Q1) results as a "positive start to 2016", despite a significant bite from unfavourable currency and a hefty drop in sales of its i range. Overall, volumes in the January-March period set a new Q1 high and topped 550,000 units, but it wasn't enough to top rival Mercedes-Benz. However, the race isn't over yet. Speaking in the quarterly earnings call, Chief Executive Harald Krueger told journalists: "We want to be the leading manufacturing of premium cars in 2016. We were slightly behind Mercedes in Q1 but we will draw up the account at the end of the year."