BMW maintained a stronghold as the most profitable automaker in the world, grounded by lean German engineering that in turn led to seriously high profit margins. But it no longer holds that title as of Tuesday, according to German media outlets, getting bested in the most recent quarter by Suzuki.
Word broke Tuesday morning by way of German publication Handelsblatt Global, which attributed the finding to a new study by consultant Ernst & Young.
I presume the Germans aren’t taking news of this all too well, given the tone of a story by the publication Manager Magazin on Suzuki’s new title as profit leader.
The publication took pains to point out that, if you take the first two quarters of 2018 together, BMW is still the most profitable automaker, which is fine if the study had staked out the profit leader of the first half of 2018. Beyond that, though, an Ernst & Young consultant pointed out that the German auto industry has had a, uh, rough go at it lately. Between Dieselgate, a brewing trade war between the U.S. and China, and “losses due to currency effects.”
Profit is fine, but I think what obviously needs to happen now is that Suzuki should take its profits and plow it back into developing a market in America again, because goddamn the new Xbee looks so fun.